Formation Metals Extends N2’s A-Zone North with 95.6 Metres of Near-Surface Gold

Gold begins immediately below overburden and continues for nearly 100 metres

Formation Metals’ September 22 drill update adds a broad near-surface intercept to the developing A-Zone story at its N2 Gold Project in Québec. Hole N2-26-033 returned 0.98 grams per tonne gold over 95.6 metres beginning at 8.4 metres downhole, which the company calculates at approximately 7.1 metres vertical depth.

The top of the interval carried the strongest grades, with 3.14 g/t Au over the first 10.0 metres. That combination of shallow depth and broad mineralized width gives Formation another data point in the northern corridor where earlier Phase 1 holes had already returned gold close to surface.

The new hole was specifically positioned beyond the northern limit of the historical wireframes. Formation says mineralization continued from the first sample below the thin overburden cover through almost the first 100 metres of drilling.

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The northern horizon is now extending into previously untested ground

N2-26-033 extended the northern auriferous horizon approximately 25 metres north through the upper part of the hole and as much as 50 metres north at depth. The company says the mineralized style, alteration and structural controls match those seen in earlier holes along the same horizon.

That is important because the latest result is not simply filling a gap inside an established outline. It is testing ground outside the area covered by the historical estimate and demonstrating that the mineralized envelope continues beyond the prior northern boundary.

Formation plans to continue stepping north toward the main deformation zone. The company describes the horizon as open in that direction, giving the current drill program a clear extension target.

A fully funded 75,000-metre program gives Formation room to keep expanding N2

Formation is conducting a fully funded 75,000-metre drill program at N2, the largest exploration program in the company’s history. The property hosts a historical global estimate of roughly 871,000 ounces of gold across several zones, including broad near-surface mineralization and higher-grade targets at the RJ Zone.

The company reported approximately C$26.3 million of working capital and no debt in its September 8 update. That funding position supports continued step-out and extension drilling while the company works toward a maiden modern mineral resource estimate.

Earlier September drilling also pushed the A-Zone 200 metres south and identified an additional vein set. With the newest northern result, Formation has now reported expansion in multiple directions during the same program.

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The latest hole strengthens the open-pit-scale geological picture

Formation’s geological interpretation places the N2-26-033 mineralization at depths consistent with the shallow part of the A-Zone model. The company says the result contributes to an interpreted mineralized envelope that remains open along strike, across strike and at depth.

For the current program, the practical takeaway is straightforward: the company drilled beyond the previously modelled northern boundary and still encountered a long continuous gold interval almost immediately below surface. That gives Formation fresh ground to follow while adding another modern hole to the dataset being assembled for N2’s planned resource work.