Formation Metals to launch 20,000 metre drill program at N2 Gold Project
Last updated: 12:00 30 May 2025 EDT, First published: 11:00 30 May 2025 EDT
Formation Metals CEO Deepak Varshney joined Steve Darling from Proactive to announce plans for a 20,000-metre multi-phase drill program at the company’s flagship N2 Gold Project in Quebec. The N2 Project hosts a historic global resource of approximately 870,000 ounces of gold, including 18 million tonnes grading 1.4 g/t Au across four zones, and 243,000 tonnes grading 7.82 g/t Au in the high-grade RJ zone. The N2 project was acquired from Walbridge Mining in January. Varshney said the project attracted them because of a historical resource and a clear pathway to expanding this to over 3 million ounces..
Varshney confirmed that the first 5,000 metres of drilling is fully funded and set to begin this summer. The program will focus on discovery drilling at new high-potential targets along the mineralized trends in the “A,” “RJ,” and “Central” zones in the northern part of the property. The goal is to uncover new gold-bearing trends and expand existing mineralization.
Additionally, the program will include targeted infill and expansion drilling to significantly enhance the project’s resource base, supported by a recently secured exploration permit.
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