Forge Resources (CSE:FRG) Announces Completion of First Two Drill Holes at Alotta Project in Yukon

Figure 2 outlines the high priority target areas within the Alotta property with potential gold-copper-molybdenum, porphyry style mineralization. Prior to November 2023 none of these target areas had been drill tested. In November 2023 two drill holes (ALT-23-001 and ALT-23-002) were completed on the property which confirmed the porphyry style nature of mineralization. Hole ALT-24-004 to ALT-24-010 are proposed locations. Source: Forge Resources Corp.

Forge Resources (CSE:FRG) has announced the completion of the first two drill holes planned for 2024 at its Alotta project in the Yukon Territory of Canada. Both holes, ALT-24-001 and ALT-24-002, have shown porphyry style mineralization, according to the company.

Lorne Warner, President, and P.Geo for Forge Resources Corp. comments: “Every drillhole completed is bringing us closer to understanding the controls to the mineralization at Alotta. We have now started drilling at the untested Severance Zone which has extensive and highly anomalous multi-element soil geochemistry. The three proposed holes will test across entire anomalous soil geochemistry in the central area of the Alotta Zones.”

The Phase 1 drilling program is reportedly on schedule, with ALT-24-001 and ALT-24-002 completed to depths of 402 and 501 metres, respectively. The company has now commenced drilling hole ALT-24-003, which is testing the Severance Zone.

ALT-24-001, drilled at an azimuth of 135 degrees with a -50 degree dip, is the first hole to test the Payoff Zone, where rock samples with up to 8.7 g/t gold were collected over a 200 x 300 m area. The company reports that this hole appears to have a higher concentration of pyrite stringers compared to two holes drilled in November 2023, which confirmed the porphyry style nature of mineralization at the project.

Figure 1 is a core photo from hole ALT-24-002 at depth of 261.5 metres that trended towards the area of ALT-23-001, completed in November, 2023. As announced on February 24, 2024, Hole ALT-23-001 intercepted 211.65 metres of 0.46 grams/tonne gold from the first ever diamond drill hole on the property. Source: Forge Resources Corp.

ALT-24-002, drilled at an azimuth of 230 degrees with a -60 degree dip, was designed to test possible west-northwest trending structures related to mineralization. Porphyry style mineralization was again encountered, with alteration and associated disseminated and fracture-controlled sulphide mineralization increasing with depth.

The Alotta property consists of 96 mineral claims covering approximately 1,926 hectares, located 50 km south-east of Western Copper and Gold’s Casino deposit. The Casino deposit is considered one of the most economic, greenfield copper-gold mining projects in the world and is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits globally.

Source: Forge Resources Corp.

Western Copper and Gold recently completed a bought deal public offering with gross proceeds of $46 million and a further $5 million financing with Rio Tinto.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project in the Yukon Territory. The company also holds a 40% interest in Aion Mining Corp., which is developing the fully permitted La Estrella coal project in Santander, Colombia, containing eight known seams of metallurgical and thermal coal.

Highlights from the results: 

Review of ALT-23-001 intercept area hosting the 211.65 metres of 0.46 g/tonne gold:

  • Hosted in semi-crowed, quartz-plagioclase porphyry
  • Indicates that silica filled fractures hosting sulphide mineralization occur in areas of higher-grade gold concentrations
  • Semi-massive, poly-metallic veins can contain high-grade gold concentrations.

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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