Welcome to our dedicated page for Formation Metals news (Ticker: FOMTF), a resource for investors and traders seeking the latest updates and insights on Formation Metals stock.
Formation Metals Inc. (OTCQB:FOMTF) regularly issues detailed exploration and corporate updates focused on its flagship N2 Gold Project in Quebec. The company’s news flow centers on drill results, program expansions, financings and technical interpretations related to this advanced gold exploration property in the Abitibi subprovince near Matagami.
Recent news releases describe a fully funded, multi-phase drill program at N2 that has been expanded from an initial 10,000 metres to a planned 30,000 metres. Formation reports long intervals of what it calls target mineralization in multiple drillholes in the A and RJ zones, including sections exceeding 100 metres in length, as it evaluates conceptual bulk-tonnage open-pit and potential underground scenarios. The company also highlights the presence of visible gold in some holes and compares current drill core characteristics to historical intercepts in the project’s extensive historic database.
Beyond drill results, Formation’s announcements cover private placement financings of common share and flow-through units, which it states have fully funded its planned drilling at N2. The company also reports on its working capital position, exploration budget (including the impact of Quebec provincial tax credits) and marketing or investor relations agreements intended to increase awareness of its exploration activities.
Investors and observers following FOMTF news can expect updates on drilling progress in the A, RJ and Central zones, commentary from management on the continuity and style of mineralization, and periodic summaries of the project’s historic resource framework and base metal potential. For those tracking the evolution of the N2 Gold Project and Formation’s exploration strategy, this news page aggregates the company’s public announcements in one place.
Formation Metals (OTCQB:FOMTF) mobilized a second drill rig to its N2 Gold Project to accelerate a fully funded 30,000 metre program, with Phase 1 at 14,000 metres. The company reports ~C$12.1M working capital, an exploration budget of ~C$8.1M, and a historic global resource of ~871,000 oz Au across multiple zones. Formation aims for a maiden mineral resource estimate after Phase 1 in Q3, targeting wide, near-surface intercepts and metallurgical sampling to support an open-pit conceptual resource.
Formation Metals (OTCQB:FOMTF) will prepare a NI 43-101 maiden mineral resource estimate for the N2 Gold Project in Quebec after completing its expanded Phase 1 drill program. Nearly 70,000 metres will have been drilled at N2 when Phase 1 finishes, and the company has completed ~14,000 metres to date as part of a fully funded 30,000-metre campaign. Historic data show a global historic resource of ~871,000 oz Au (18 Mt @ 1.4 g/t Au plus 243 kt @ 7.82 g/t Au in the RJ zone). Recent large, near-surface intercepts include 208.8m and 166.8m of target mineralization. Completion of the maiden estimate is anticipated by Q3 2026.
Formation Metals (OTCQB:FOMTF) expanded Phase 1 of its fully funded 30,000 metre N2 Gold Project drill program to ~14,000 metres after completing 13 holes (3,879 m) that returned multiple long intervals of target mineralization, including 208.8 m (beginning 28.6 m downhole) and 166.8 m (beginning 60.0 m).
The project hosts a global historic resource of ~871,000 oz Au (18 Mt @ 1.4 g/t and 243 kt @ 7.82 g/t in the RJ zone). Formation reports working capital of ~C$12.3M and an exploration budget of ~C$8.1M (inclusive of provincial tax credits). Assays are pending following data compilation.
Formation Metals (OTCQB:FOMTF) reported new drill intercepts at its N2 Gold Project (Quebec) from holes N2-25-006, N2-25-009 and N2-25-011, targeting a conceptual multi-million ounce open-pit resource.
Key intercepts: 102.6 m from 15.3 m (N2-25-006), 135.7 m from 23.3 m (N2-25-009) and 166.8 m from 60.0 m (N2-25-011). Company is running a fully funded 30,000 m drill program (Phase 1: 10,000 m started Sept 25, 2025). Historic global resource ~871,000 oz Au across multiple zones; A zone ~522,900 oz (1.52 g/t) with >3.1 km untested strike. Working capital ~C$13.4M and 2025–26 exploration budget ~C$8.1M.
Formation Metals (OTCQB:FOMTF) reported wide near-surface mineralized intercepts at its N2 Gold Project in Quebec, including 152.9 m from 23.1 m in N2-25-003 and 208.8 m from 28.6 m in N2-25-008, with multiple long internal intervals (up to 70.0 m).
The company is running a fully funded 30,000 metre drill program (Phase 1 = 10,000 m started Sept 25, 2025), targets a multi-million ounce conceptual open-pit resource, and reports working capital of ~C$13.5M with zero debt and an exploration budget of ~C$8.1M (including provincial tax credits).
Formation Metals (OTCQB:FOMTF) reports visible gold in two early drill holes at its N2 Gold Project in Quebec during Phase 1 of a fully funded 30,000 metre program. Visible gold occurred in N2-25-001 (4.5 m) and N2-25-013 (30.8 m) within quartz-carbonate, pyrite-hosted veins. The company reports working capital of ~C$13.7M, zero debt, and a 2025-26 exploration budget of ~C$8.1M inclusive of provincial tax credits. N2 hosts a historic global resource of ~~871,000 oz Au (including ~522,900 oz in the A zone and ~61,100 oz in the RJ zone); historic assays and resources are being treated as historic and not yet verified.
Formation Metals (OTCQB:FOMTF) reports visible gold intercepts during Phase 1 of a fully funded 30,000 metre drill program at its N2 Gold Project in Quebec.
Visible gold was logged in holes N2-25-001 and N2-25-013 (the latter within a 30.8 metre mineralized interval). Phase 1 (10,000 m) began on September 25, 2025. N2 hosts a global historic resource of ~871,000 oz (18 Mt @ 1.4 g/t Au plus 243 kt @ 7.82 g/t Au in RJ). Formation reports working capital of ~C$13.7M, zero debt, and a 2025-26 exploration budget of ~C$8.1M inclusive of provincial tax credits.
Formation Metals (OTCQB:FOMTF) closed the second tranche of its private placement on October 31, 2025, raising $8,456,619.81 by issuing 17,837,838 LIFE units at $0.37 and 4,528,341 flow-through units at $0.41.
Following the close the company reports ~C$12.7M working capital, zero debt, and a 2025-2026 exploration budget of ~C$8.1M (inclusive of Quebec tax credits). Formation expanded the N2 Gold Project drill program to 30,000 metres targeting A, RJ and Central zones and plans follow-up base metal work.
Formation Metals (OTCQB:FOMTF) closed the first tranche of private placements on October 15, 2025, raising $8,262,389.48 in gross proceeds to fully fund a planned 20,000 metre multi‑phase drill program at the advanced N2 Gold Project in Quebec.
Phase 1 (10,000 m) began on September 25, 2025 targeting the shallow A zone and high‑grade RJ zone. The company reports ~C$12.7M working capital, zero debt, and a 2025–2026 exploration budget of ~$8.1M inclusive of Quebec tax credits.
Formation Metals (OTCQB:FOMTF) upsized its previously announced LIFE and concurrent flow-through private placements to C$8.6M on October 14, 2025.
The Amended LIFE Offering targets up to 17,847,838 LIFE Units at $0.37 (warrants exercisable at $0.54 for 36 months) and a concurrent FT Private Placement of up to 4,878,049 FT Units at $0.41 (FT warrants exercisable at $0.62 for 24 months) for combined gross proceeds of up to C$8.6M.
Proceeds would raise working capital to ~C$13M, increase the exploration budget to ~C$8.5M+, and fund a multi‑phase 20,000 metre drill program (Phase 1: fully funded 10,000 m, started Sept 25, 2025) at the N2 Gold Project in Quebec.
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