Forge Resources Announces Proposed 4000-Metre Diamond Drill Program at Alotta Project, Yukon
Rhea-AI Summary
Forge Resources Corp. (FRGGF) has announced a planned 4,000-metre diamond drill program at its Alotta Property in Yukon. The program will comprise approximately 12 drill holes, each ranging from 300 to 350 metres, targeting step-outs in the Payoff Zone and unexplored geophysical and geochemical anomalies.
The Alotta Property is strategically located 40 kilometers south of Western Copper's Casino Deposit, one of the world's largest undeveloped gold-copper porphyry deposits. Previous exploration, consisting of six diamond drill holes totaling 2,659 metres, has revealed significant gold, copper, and molybdenum mineralization associated with quartz-sericite-pyrite alteration.
The spring/summer 2025 exploration program, designed in collaboration with Archer Cathro and Associates, will focus on a 4 km by 1 km area. The initiative is driven by current record-high gold prices and aims to advance the property's development potential.
Positive
- Strategic location near major gold-copper deposit (Casino)
- Previous drilling confirmed significant gold, copper, and molybdenum mineralization
- Timing aligns with record-high gold prices
Negative
- Project still in early exploration phase
- No defined resource estimates provided
News Market Reaction 1 Alert
On the day this news was published, FRGGF declined 2.69%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company) is pleased to announce a proposed diamond drill program comprised of up to 4,000 metres across approximately 12 drill holes with ranging from 300 to 350 metres. This initiative aims to test step-outs on previously identified mineralization in the Payoff Zone and explore untested coincident geophysical and geochemical anomalies across targeted areas (Figure 1).
Figure 1. Drilling Program Proposal
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Forge Resources CEO, PJ Murphy, states: "Our team is excited by the promising results from our previous seasons exploration programs. With more comprehensive and refined data in hand, we are now able to focus on several higher-priority targets that show significant potential for advancing the Alotta Property. This marks an exciting chapter in our journey to uncover its full value."
Strategic Location of Alotta Property
The Alotta Property is located approximately 40 kilometers south of Western Copper's Casino Deposit-one of the largest undeveloped gold-copper porphyry deposits globally. Geochemical and geophysical surveys at Alotta have outlined several prospective targets larger than the current Casino resource area. Similar to the Casino project, the Alotta hosts multi-phased intrusions of the Dawson Range dating back to the Late Cretaceous period.
Results of Previous Exploration and Mineralization
To date, Forge Resources has completed six widely spaced diamond drill holes, totaling 2,659 metres. All holes encountered significant gold, copper, and molybdenum mineralization typically associated with quartz-sericite-pyrite alteration within semi-crowded to crowded quartz-plagioclase porphyry. Mineralization includes disseminated and fracture-controlled pyrite, pyrrhotite, along with minor chalcopyrite and molybdenite linked to quartz veins and micro-veins.
Compilation of prior drilling data indicates potentially economic mineralization correlated with coincident induced polarization, chargeability highs, moderate-to-high resistivities, and magnetic lows.
Proposed Exploration Program for Spring/Summer 2025
The Forge technical team, in collaboration with Archer Cathro and Associates, has designed a spring/summer exploration program of up to 4000 metres of diamond drilling, across approximately 12 proposed holes ranging from 300 to 350 metres. The majority of these will focus on step-outs within the Payoff Zone and untested coincident geophysical and geochemical anomalies over a 4 km by 1 km area.
This exploration effort is propelled by record-high gold prices, creating a surge of activity in gold exploration projects globally.
Qualified Person
Lorne Warner, P.Geo, and President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company. The Company holds a
On behalf of the Board of Directors
"PJ Murphy", CEO Forge Resources Corp.
info@forgeresources.com
Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Aion Acquisition. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. In particular, there can be no assurance that the Proposed Transaction will be completed as described or at all. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/248705
FAQ
What is the scope of Forge Resources' (FRGGF) new drilling program at Alotta?
Where is the Alotta Property located and what makes its location significant?
What were the results of FRGGF's previous drilling at Alotta?
When will FRGGF begin the new exploration program at Alotta?
