07:38 AM EST, 11/10/2025 (MT Newswires) -- Foran Mining ( FMCXF ) on Monday announced exploration results from the second half of its 2025 drill program at the Tesla Zone, part of its 100%-owned McIlvenna Bay project located in east-central Saskatchewan.

Among highlights, Foran said drilling intercepts included 33.4 meters grading 1.98% copper (Cu), 3.07% Zinc (Zn), 19.6 grams per tonne (g/t) silver (Ag) and 0.47 g/t gold (Au), 3.09% copper equivalent (CuEq). The company said new copper results "confirm and extend high-grade mineralization at Tesla Zone."

It added that infill drilling "reinforces" consistency of mineralization across the Tesla Zone and that a growing precious metals opportunity "continues to emerge" from the drilling in the northern part of the Tesla Zone, with multiple wide zones of elevated gold and silver grades that consistently occur between sulphide lenses. Foran expects a maiden Tesla zone resource estimate for H2 of 2026.

"While deep drilling intersected the Lower Lens as anticipated and confirmed elevated gold grades in and around the Lens, the exceptional Cu1 intersection highlights strong potential for further down-dip expansion of the Tesla Zone," said Foran Mining ( FMCXF ) Vice President, Exploration, Erin Carswell. "These results are encouraging for further down-dip expansion of the Tesla Zone, which will be more accessible from underground drill platforms in coming years, as Foran's Geoscience & Discovery team advances its regional exploration strategy and works towards a maiden Tesla Zone resource targeted for the second half of 2026."

Shares of the company closed down 4.5% to $3.82 on Friday on the Toronto Stock Exchange.