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Formation Metals Commences Permitting for Fully Funded 5,000 Metre Drill Program at the N2 Gold Property to Build on 877,000 oz Historical Gold Resource
VANCOUVER, BC / ACCESS Newswire / April 22, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO), a North American mineral acquisition and exploration company, is pleased to announce that it has commenced permitting for a fully funded ...
About this update from Formation Metals Inc.
[{"type":"text","content":"VANCOUVER, BC / ACCESS Newswire / April 22, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO), a North American mineral acquisition and exploration company, is pleased to announce that it has commenced permitting for a fully funded 5,000 metre diamond drill program at its N2 Gold Property ("N2" or the "Property"), located 25 km south of Matagami, Quebec within the Casa Berardi mine trend which hosts numerous multiple million-ounce gold deposits1.","length":511,"tagName":"p"},{"type":"text","content":"Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, N2 is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central) and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling.","length":640,"tagName":"p"},{"type":"text","content":"Formation's maiden drill program will focus on:","length":51,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with numerous intermittent and consecutive auriferous intervals (84% of historical drill holes intercepted Au up to 1.7 g/t over 35 m)2, of which only ~35% of strike has been drilled (>3.1 km open); and","length":297,"tagName":"p"}]},{"val":[{"type":"text","content":"the "RJ" zone, host to bonanza 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":212,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":509,"olType":false},{"type":"text","content":"The Company has started discussions with local First Nations and government officials, targeting the launch of its maiden drilling program in June.","length":147,"tagName":"p"},{"type":"text","content":"Formation's CEO, Deepak Varshney, commented: "2025 has had ...