🚀 In the latest CSE Issuer Updates, we hear from Deepak Varshney, CEO of Formation Metals Inc. (CSE: FOMO | WKN A3D492).
Formation Metals is advancing its N2 Gold Project in Quebec—a brownfield project with nearly one million ounces of historical drilling from major companies like Agnico Eagle. With record gold prices, the company has raised nearly $8 million to fully fund a 15,000-meter drill program, one of the largest for a junior company with a sub-$50 million market cap.
The project is already showing strong potential with high-grade intercepts of up to 50 g/t gold and broad zones where 84% of drill holes have hit gold. With 55,000 meters historically drilled over a 5 km strike length and over 15 km still to explore, Formation is targeting a resource expansion to 3 to 5 million ounces.
📢 Deepak notes, “This is a project that major companies are looking for—near-surface gold in Quebec that can be open-pit mined. We are funded, drilling has commenced, and we are not stopping.”
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