Highlights: Formation has commenced a fully funded 10,000 metre multi-phase drill program at its flagship N2 Gold Project near Matagami, Quebec, host to a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.5 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. Phase 1 will target the “A” zone, a shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces of which only ~35% of strike has been drilled (>3.1 km open), and the “RJ” zone, host to high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres2, which was expanded by Agnico Eagle Mines in 2008 in the most recent drilling at the Property.
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Brief Summary
Formation Metals has initiated a fully funded 10,000 metre multi-phase drill program at its flagship N2 Gold Project near Matagami, Quebec. This project hosts a significant global historic resource of approximately 870,000 ounces, with detailed targets set for the upcoming drilling phases:
- **Phase 1** targets the historic “A” zone, known for its continuity and low variability.
- ~522,900 ounces estimated present, with only 35% of the strike drilled.
- **RJ zone** features high-grade historical intercepts, peaking at **51 g/t Au** over 0.8 metres.
- A significant opportunity for expansion based on previous drilling results from Agnico Eagle Mines.
Why it matters: This program represents a major step forward in unlocking the potential of the N2 Gold Project, enhancing investor confidence and potentially increasing resource estimates.
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