Highlights: The Company is undertaking a fully funded 30,000 metre drill program at its flagship N2 Gold Project in Quebec, host to a global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~810,000 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 has been expanded to approximately 14,000 metres based on the results of the fieldwork to-date, which includes the following significant intervals: N2-25-008: 208.8 metres of target mineralization was intercepted beginning at 28.6 metres downhole, with multiple intervals over 40 metres in width including up to 70.0 metres.
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Brief Summary
Formation Metals has expanded the Phase 1 drill program at its N2 Gold Project to 14,000 metres. The project, located in Quebec, boasts a global historic resource of approximately 871,000 ounces of gold. The expansion follows significant fieldwork results:
- N2-25-008 yielded 208.8 metres of mineralization starting at 28.6 metres downhole.
- Multiple intervals greater than 40 metres, including a peak of 70.0 metres.
- Overall drill program funded for 30,000 metres.
Why it matters: This expansion enhances the potential for confirming additional gold resources, which could significantly impact Formation Metals’ valuation moving forward.
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