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Forge Resources Corp
Symbol FRG
Shares Issued 93,354,731
Close 2025-06-03 C$ 0.59
Market Cap C$ 55,079,291
Recent Sedar Documents

Forge Resources to begin drilling at Alotta

2025-06-03 18:26 ET - News Release

Mr. P.J. Murphy reports

FORGE RESOURCES ANNOUNCES MOBILIZATION FOR 2025 DRILL PROGRAM AT ALOTTA PROJECT, YUKON

Forge Resources Corp. has made mobilization efforts for its previously announced 2025 drill program at the Alotta project, Yukon. The re-establishment of camps and the construction of drill pads started on May 26, and the drill was transported to the project on June 2. The exploration program is on schedule, and it is anticipated that drilling will commence by the end of the week.

The first drill hole will test approximately 800 metres east of ALT-23-001/002. As announced on Feb. 29, 2024, hole ALT-23-001 intercepted 211.65 metres of 0.46 gram per tonne gold from the first ever diamond drill hole on the property.

The company remains committed to keeping its stakeholders informed and will provide further updates as new information becomes available.

Lorne Warner, PGeo, president of Forge Resources, stated: "We are excited to restart our phase 2 drilling program. Based on previous year's successful results and quality of targets, we have high expectations of further success. I anticipate being in camp for most of the drilling to help guide the program and observe the cores alongside our partnered operators, Archer Cathro."

Drill plan recap for spring/summer 2025

As announced on April 16, 2025, the Forge technical team, in collaboration with Archer Cathro and Associates, has designed a summer exploration program comprising up to 4,000 metres of diamond drilling across 12 proposed diamond drill holes, each with an average depth of 300 to 350 metres. These efforts will be directed toward stepout drilling within the Payoff zone and untested coincident geophysical and geochemical anomalies across a four-kilometre-by-one-kilometre area. The company's drill plan for the 2025 season intends to evaluate the most promising drill locations based on their respective merits to test for porphyry-style mineralization.

Additionally, the company plans to undertake further reconnaissance drilling on the Payoff target areas this season. This zone exhibits substantial surface mineralization, with highly anomalous concentrations of gold, copper and molybdenum identified from rock and soil samples. These targets represent areas of the property where significant (greater than one gram per tonne gold) rock values have been observed on the surface.

Results of previous exploration and mineralization

To date, Forge Resources has completed six widely spaced diamond drill holes, totalling 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 and pyrrhotite, along with minor chalcopyrite and molybdenite linked to quartz veins and microveins.

Compilation of prior drilling data indicates potentially economic mineralization correlated with coincident induced polarization, chargeability highs, moderate-to-high resistivities and magnetic lows.

Proximity to proven resources

The Alotta property consists of 230 mineral claims that cover approximately 4,723 hectares in a similar geological setting to Western Copper and Gold's Casino deposit, that is located 50 kilometres to the southeast. The Casino deposit is one of the most economic, greenfield copper-gold mining projects in the world, which is ranked as one of the top-10 largest, undeveloped, copper-gold porphyry deposits in the world.

Qualified person

Lorne Warner, PGeo, president of Forge Resources, 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 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 kilometres southeast 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 80-per-cent interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

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