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Formation Metals Commences Fully Funded 10,000 Metre Drill Program at the Advanced N2 Gold Project
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 ...
About this update from Formation Metals Inc.
[{"type":"text","content":"Highlights:","length":11,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"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.","length":364,"tagName":"p"}]},{"val":[{"type":"text","content":"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.","length":417,"tagName":"p"}]},{"val":[{"type":"text","content":"The Company has working capital of ~C$5.0M with zero debt, putting it in a very strong financial position to execute its exploration programs. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$5.7M.","length":273,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":1054,"olType":false},{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / September 25, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that it has commenced drilling at its flagship N2 Gold Property ("N2" or the "Property"), located 25 km south of Matagami, Quebec.","length":397,"tagName":"p"},{"type":"text","content":"The Company is completing a fully funded 10,000 metre drill program at N2, an advanced gold project with 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.","length":328,"tagName":"p"},{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"wi...