Formation Metals Prepares for Drill Program at N2 Gold Project

Formation Metals has finalized its team for a fully funded 10,000 metre drill program at the N2 Gold Project near Matagami, Quebec. The 20,000 metre multi-phase initiative aims to confirm and expand the site's historical gold resources, primarily focusing on the "A" and "RJ" zones.

The "A" zone, known for its continuity and low variability, will see enhanced exploration, while the "RJ" zone, with its high-grade historical drill intercepts, prompts further investigation. Drilling contractor Forage DCB of Rouyn-Noranda will commence work in early September.

Formation Metals is in a strong financial position with C$5.3M in working capital and no debt. With Quebec government's tax credits, the exploration budget for 2025-2026 is set at approximately $5.7M, allowing Formation to meet its commitments ahead of schedule.