QUEBEC / LONDON (IT BOLTWISE) – Formation Metals has achieved impressive results from its recent drilling campaign at the N2 gold project in Quebec. The discovery of significant mineralization in the A and RJ Zones indicates potential for multi-million ounces of gold. With a robust working capital of C$13.5 million, the Company plans to aggressively advance exploration in the coming months.
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Formation Metals recently made significant progress exploring its N2 gold project in Quebec. Recent drill results from the A and RJ Zones show significant gold mineralization indicating multi-million ounce potential. These discoveries are the result of the Company’s first drilling campaign since 2008 and highlight the potential for a large, shallow gold-bearing pit.
Drilling targeted the A and RJ zones, which had already shown high gold grades in previous exploration. Current results show strong correlation with historical data, increasing confidence in future exploration. Of particular note are the gold grades of up to 51 grams per tonne discovered in the RJ Zone.
With a fully funded 30,000 meter drill program and working capital of C$13.5 million, Formation Metals is well positioned to advance exploration. The company plans to analyze the results in the coming months and reach a sound reinterpretation of the project. The aim is to identify new trend-leading deposits along prominent geological structures.
The discovery of these significant gold resources could not only strengthen Formation Metals’ position in the market, but also stimulate interest in further investment in the Quebec region. The region is known for its rich mineral resources and offers a promising environment for future mining projects. Experts expect demand for gold to continue to rise in the coming years, further underscoring the importance of such discoveries.
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