Forge Resources Completes Phase 1 and Targets the Core of the Commission Zone Porphyry with Phase 2, Alotta Project, Yukon
Rhea-AI Summary
Forge Resources (CSE: FRG, OTCQB: FRGGF, FSE: 5YZ) has completed Phase 1 diamond drilling at its Alotta Project in Yukon’s Dawson Range Gold Belt, finishing four holes totaling 1,829.24 m ahead of schedule and under budget across the Severance, Payoff and Commission zones.
At the Commission Zone, hole ALT-26-018, the deepest on the project to date at 565 m, intersected increasing biotite and magnetite alteration, dense quartz stockwork veining, and visible chalcopyrite and molybdenite toward the bottom, interpreted as a higher-temperature porphyry centre. All assays are pending from ALS after QA/QC. Phase 2 drilling, already underway at the Payoff Zone, will include deep holes targeting the interpreted core of the Commission Zone. Separately, the company agreed to settle debt and other claims with former President Lorne Warner and Geocon via $100,000 in monthly payments starting July 1, 2026 and issuance of 250,000 shares, subject to CSE approvals.
Positive
- Phase 1 drilling 1,829.24 m in four holes, ahead of schedule and under budget
- ALT-26-018 extended to 565 m, deepest hole to date with stronger alteration and veining at depth
- Phase 2 program initiated, including deep targets at Commission and follow-up drilling at Payoff
- Structured QA/QC ALS Laboratories engaged with fire assay and multi-element ICP protocols
Negative
- All Phase 1 drill assay results are pending, so no grades or metal concentrations are yet available
- Warner settlement requires $100,000 cash in instalments and issuance of 250,000 common shares, implying cash outflow and share dilution
News Market Reaction – FRGGF
In the Jul 22 session, FRGGF gained 5.15%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company"), is pleased to announce the completion of its Phase 1 diamond drilling program at the Alotta Project, located within Yukon's Dawson Range Gold Belt (Figure 1). Drilling operations were completed ahead of schedule and under budget, with the completion of four drill holes. Drilling at the Commission Zone intersected encouraging visual indicators of a high-temperature zone within the Alotta porphyry system, and the Company is now planning deeper Phase 2 drilling to test the interpreted core of the zone.
Highlights:
- Phase 1 total of 1829.24 m in four diamond drill holes within the Severance, Payoff and Commission zones (Figure 1).
- ALT-26-018, the deepest hole drilled on the project to date, returned porphyry alteration and mineralization indicative of a higher-temperature porphyry centre, with chalcopyrite and molybdenite mineralization, and magnetite-biotite alteration increasing at depth. The hole ended due to shallowing hole conditions at 565 m depth in strong stockwork veining.
- Assays for all four holes are pending and will be released after received from ALS labs, QA/QC review and interpretation.
- Phase 2 drilling will target the deeper portions of the Commission zone as well as a follow-up hole in the Payoff zone targeting previously identified extensive gold mineralization.
PJ Murphy, CEO of Forge Resources, states: "With the completion of Phase 1 diamond drilling at Alotta, we are now actively planning a deep drill hole to follow up visual results from the Commission Zone, where the presence of magnetite and biotite alteration and intense quartz stockwork veining at the bottom of hole ALT-26-018 suggests we have found the higher temperature part of our system. We look forward to updating the market as we advance Phase 2 drilling."
Figure 1. Alotta Project overview
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Phase 1 Drilling Program:
The Phase 1 drilling program was successfully completed, totaling 1829.24 m from four diamond drill holes at Severance, Payoff and Commission zones (Figure 1). Drill core has been fully processed from three drill holes, with samples delivered to ALS Laboratories in Whitehorse, Yukon. Processing of the fourth hole is nearing completion and will be finalized imminently. Results from all holes are currently undergoing analysis from ALS, and results are pending.
During Phase 1 drilling, Hole ALT-26-018, which tested the southern portion of a 3D magnetic anomaly at the Commission Zone (Figure 2), intersected widespread chlorite and secondary biotite alteration that strengthen with depth. Quartz veining increases from approximately 250 m downhole, becoming high-density stockwork from ~420 m to the base of the hole at 565 m, with visually increasing chalcopyrite, molybdenite and magnetite veining coinciding with the zone of stronger veining. The hole was terminated in altered and mineralized veining after being extended beyond its target depth. Photos 1 to 3 show the alteration and mineralization observed near the bottom of ALT-26-018.
Figure 2. Phase 1 diamond drilling program, showing 3D magnetic anomalies
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Photo 1: ALT-26-018, 396 m. Biotite altered porphyry hosting abundant quartz, quartz-pyrite and pyrite veins.
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Photo 2: ALT-26-017, 430 m. Chlorite altered porphyry cut by quartz stockwork veining that hosts pyrite-pyrrhotite±chalcopyrite-molybdenite.
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Photo 3: ALT-26-018, 516 m. biotite altered porphyry cut by quartz stockwork veins hosting pyrite-pyrrhotite±chalcopyrite-molybdenite.
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Phase 2 Drilling Program:
Phase 2 diamond drilling is planned to follow up on visually encouraging results from earlier drilling at the Commission Zone and gold results at the Payoff Zone from previous drilling campaigns. Drilling is currently underway at the Payoff Zone.
At the Commission Zone, deep drill holes are planned to follow up the visual results of hole ALT-26-018 and test the deeper interpreted core in the area which, based on Phase 1 drilling, appears to coincide with quartz stockwork veining, an increase in chalcopyrite and molybdenite, and the presence of biotite and magnetite alteration towards the bottom the drill hole.
Figure 3. Proposed diamond drilling plans at the Commission Zone
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Quality Assurance/Quality Control
Analytical work is being completed by ALS Canada Ltd., with sample delivery and preparation in Whitehorse, Yukon, and geochemical analysis in North Vancouver, British Columbia.
Rigorous procedures are in place regarding sample collection and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks are routinely inserted into the sample stream to ensure integrity of the assay process. Core is being sampled using a diamond core saw, with half of each interval sent to the lab for analysis and the other half retained.
Half-core samples received at ALS are fine-crushed and a 250 g split was pulverized to better than
Qualified Person
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and was reviewed and approved by Kelson Willms, P.Geo., of Archer, Cathro & Associates (1981) Limited. Mr. Willms is a Qualified Person for the purposes of National Instrument 43-101.
Warner Settlement
The Company has signed a mutual settlement agreement with Lorne Warner, its former President, and the company through which he provided his services, Geocon Enterprises Inc. In settlement of debt owing by the Issuer and any other claims that Mr .Warner or Geocon may have against the Issuer, the Issuer agreed to pay
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project consisting of 230 mineral claims that cover 4,723 hectares, located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.
In addition, the Company holds an
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 Company's intentions with respect to the development of its mineral properties. 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. 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.
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