In this video, Formation Metals (WKN A3D492) CEO Deepak Varshney presents the first drilling results from the N2 Gold Project in Québec. The company, listed on the CSE under the ticker symbol FOMO, is currently conducting a fully funded 30,000-meter drilling program, the first phase of which has been extended to 14,000 meters. Initial drillings show significant, near-surface mineralization with multiple mineralized intervals.
The results confirm the potential for a bulk-tonnage open-pit gold deposit, particularly in the historically known “A” and “RJ” zones. Visible gold has been detected in several drill holes, supporting geological continuity. Formation Metals plans to present a resource estimate based on these results in the second half of 2026.
The video contextualizes the results, explains the significance of historical resource data (approximately 871,000 ounces of gold across six zones, including 18 Mt at 1.4 g/t and 243 Kt at 7.82 g/t in the RJ area), and demonstrates how the new drilling results confirm and expand upon these. Furthermore, the company’s current financial situation (strong liquidity, debt-free, exploration budget 2025–2026 of approximately C$8.1 million) is explained.
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