Forge Resources Completes Underground Ramp and Starts Crosscut to Coal Seams
Forge Resources (FRGGF) has completed the underground ramp to operational depth at its fully permitted La Estrella coal project in Santander, Colombia and has started driving the crosscut toward the coal seams as of September 8, 2026.
Rhea-AI Summary
Forge Resources (FRGGF) has completed the underground ramp to operational depth at its fully permitted La Estrella coal project in Santander, Colombia and has started driving the crosscut toward the coal seams as of September 8, 2026.
The junction from the ramp into the crosscut has been engineered with a perpendicular support arch and steel transition portal to tie the new heading into the existing structure. The crosscut will begin with a 12.4 m² TH29 support section, then shift to a 9.0 m² support section that is expected to enable faster advance toward La Estrella’s stacked sequence of known coal seams, a near‑term milestone on the path to extraction and cash flow. The company highlights sustained strength in international coal prices and early signs of a more supportive Colombian policy stance toward resource development.
Positive
- Underground ramp completed, with crosscut development underway toward La Estrella coal seams
- Support design change to a 9.0 m² profile is expected to accelerate crosscut advance
- Favourable market backdrop with Newcastle FOB coal pricing remaining above historical averages
Negative
- None.
Details
News Market Reaction – FRGGF
In the Sep 8 session, FRGGF declined 11.64%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Vancouver, British Columbia--(Newsfile Corp. - September 8, 2026) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to provide a technical update from its fully permitted La Estrella coal project, located in Santander, Colombia. The Company is excited to report that it has completed the underground ramp to operational depth and is commencing the crosscut, a major milestone that marks the transition from ramp construction to direct advancement toward La Estrella's coal seams.
Figure 1. Final metres at the underground ramp face
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Junction and Crosscut Development
With the underground ramp completed, the La Estrella technical team has engineered the junction, from the underground ramp, transitioning seamlessly into the crosscut towards the coal seams. The sequence calls for installation of a perpendicular support arch at the junction axis, followed by placement of a steel transition portal. The ramp's arch extensions will be anchored into this portal, securely tying the new heading into the existing structure before advance into the coal-directed crosscut begins.
Figure 2. Forge engineers Emilio Gene, Project Manager (left), and German Garcia, Senior Project Engineer (right) review the junction section and crosscut design.
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The crosscut will initially advance using a 12.4 m² TH29 support section, matching the profile used along the underground ramp. The crosscut will then transition to 9.0 m² support section; a lighter, faster profile expected to accelerate advance rates for the remainder of the drive to the coal seams.
Figure 3. Junction section and Crosscut transition design
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Full Steam Ahead to the Coal Seams
The crosscut is aimed on a direct line at La Estrella's stacked sequence of known coal seams. Reaching them will mark a pivotal, near-term milestone on La Estrella's path toward extraction and cash flow, moving the Company decisively closer to its core objectives for the Project.
Strengthening Market and Policy Environment
International coal benchmarks continue to demonstrate sustained strength. Newcastle FOB pricing remains elevated relative to historical averages, reinforcing a favourable commercial backdrop for near-term coal development.
The Company also notes that Colombia's recent presidential transition has signaled early indications of a more supportive stance toward responsible resource development. Public statements from the incoming administration have emphasized economic growth, energy reliability, and strengthening industrial sectors, all of which align positively with the advancement of coal projects. These conditions support favourable project economics as La Estrella advances toward its first coal access.
| PJ Murphy, Chief Executive Officer of Forge Resources Corp., commented: "Completing the underground ramp is a significant and exciting milestone for Forge Resources. Excellent progress from our skilled underground team has taken us to the crosscut that will take us straight into the coal seams. Forge Resources is full steam ahead towards the extraction of coal at La Estrella." |
Qualified Person
The technical information contained in this news release has been reviewed and approved by Emilio Gene, P.Eng., Project Director and Mining Engineer of the Company, a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About Forge Resources Corp.
Forge Resources Corp. is a Canadian-listed junior exploration company. The Company holds an
The Company also holds an option on 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.
On behalf of the Board of Directors
"PJ Murphy", CEO Forge Resources Corp.
info@forgeresourcescorp.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, statements regarding the continued advancement of the La Estrella project, future underground development activities, potential expansion of site infrastructure, workforce growth, expected benefits of road access improvements, ongoing environmental and reforestation initiatives, and the Company's plans, objectives and expectations for the project. 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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FAQ
What engineering steps link the underground ramp to the new crosscut at La Estrella?
The junction from the underground ramp into the crosscut uses a perpendicular support arch at the junction axis and a steel transition portal. The ramp’s arch extensions are anchored into this portal to securely tie the new heading into the existing structure before advance into the coal-directed crosscut begins.
How will the crosscut support profile change as development advances toward the coal seams?
The crosscut will initially advance with a 12.4 m² TH29 support section, matching the profile used along the underground ramp. It will then transition to a 9.0 m² support section, which is described as a lighter, faster profile expected to speed up advance rates for the remaining drive to the coal seams.
What external conditions does Forge Resources describe as supporting the La Estrella project economics?
The company points to sustained strength in international coal benchmarks, noting that Newcastle FOB pricing remains elevated versus historical averages. It also refers to Colombia’s recent presidential transition, stating that early public signals emphasize economic growth, energy reliability, and industrial strengthening, which the company views as aligning positively with advancement of coal projects.