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An announcement from Formation Metals Inc. ( (TSE:FOMO) ) is now available.
Formation Metals Inc. has announced the expansion of its maiden drill program at the N2 Gold Project in Quebec to a fully funded 7,500 metres. This expansion is part of a larger 20,000 metre multi-phase drill program aimed at exploring significant gold and base metal potential in the area. The company is in a strong financial position with a working capital of approximately C$2.6 million, allowing it to proceed with its exploration activities. The drill program is expected to commence in July, focusing on new high-potential targets to discover new zones of gold mineralization, which could significantly impact the company’s operations and its positioning within the gold mining industry.
More about Formation Metals Inc.
Formation Metals Inc. is a North American mineral acquisition and exploration company, focusing on the exploration of gold and base metals. The company is engaged in advancing its N2 Gold Project in Quebec, which is situated in a region known for its rich gold mining history.
Average Trading Volume: 261,610
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$15.25M
For a thorough assessment of FOMO stock, go to TipRanks’ Stock Analysis page.