07:15 AM EDT, 09/04/2025 (MT Newswires) -- Foran Mining ( FMCXF ) , which rose more than 4% Wednesday, said it has reported results from the final 15 holes drilled as part of its 2025 winter-spring program at the Tesla and Bridge zones of its 100%-owned McIlvenna Bay project in east-central Saskatchewan.

The company said all 2025 Tesla drill holes intersected mineralization, highlighting what it called a growing precious metals opportunity. It said the Tesla Zone is now defined over a 1.35 km strike and remains open down-dip and along strike, while the summer program focuses on expanding the zone footprint.

"We have achieved excellent drill coverage and an even better understanding of the mineralization, its zonation and where significant potential remains to expand the zone in advance of a future maiden mineral resource estimate," said Erin Carswell, Foran's vice president of exploration.

"We are seeing copper and gold grades increasing down-dip and thick intervals of copper mineralization to the south of the target. Significant zinc and silver grades remain encouraging as always, and even the highest up-dip holes on the margin of the zone continue to intersect mineralization."

Foran said drilling resumed at the Tesla Zone in late July, with two rigs now active. One drill is targeting the down-dip expansion potential of the Lower Tesla Zone, following up on a recently identified electromagnetic conductor plate that extends for about 650 meters along strike. The second rig is testing the continuity of mineralization within the northern part of the Tesla Main Lens through a series of infill holes collared from the northeast shore of the lake.

Shares in Foran were up C$0.13, or 4.2%, on the Toronto Stock Exchange Wednesday.