08:36 AM EST - Formation Metals Inc. : Announced the mobilization of a second drill rig to its flagship N2 Gold Property to accelerate its fully funded 30,000 metre drill program. The Company has working capital of ~C$12.1M with zero debt. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$8.1M. N2 is host to a global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 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 (~61,000 oz Au) across the RJ zone. Formation Metals Inc.
shares C.FOMO are trading up 2 cents at $0.47.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=FOMO%3ACNX&qmodStoryID=6881715031652374
