Report
FREE
• This morning, FRG announced assay results from rushed samples (due to visible gold mineralization) which intercepted 105 g/t Au over 1.25m.
• More samples from the high-grade hole ALT-25-012 are still pending while assays are outstanding for the remaining three holes of the Phase 2 program.
• The La Estrella Coal Project in Colombia is expected to produce its first coal from the bulk sample by year-end.
This morning, Forge Resources Corp. (FRG:CSE, FRGGF:OTC) announced the first gold assay result from the Phase 2 diamond drill program at its Alotta project. Hole ALT-25-012, at the Payoff Zone, returned 105 g/t Au over 1.25m. This sample was rushed to the lab due to the visual observations (visible gold), and assays of additional samples from the same hole are still pending. Assays are also pending from the remaining three holes of the four-hole Phase 2 program. We are maintaining our BUY rating and a target price of $1.00/share on FRG.
Highlights from today’s release:
• Hole ALT-25-012: 105 g/t Au over 1.25m, from 287m.
o Assays remain pending on the rest of the hole, and the samples are also being tested for silver, copper, and molybdenum.
• Drilling success at the Payoff Zone confirms widespread gold-bearing sulphide mineralization and quartz veining across a 500m strike.
• Alotta is a gold-enriched porphyry system hosting both semi-massive polymetallic sulphide veins and quartz veins overprinting the porphyry mineralization.
Phase 2 Drill Program Recap
On October 15th, FRG announced the completion of the Phase 2 diamond drill program, which totalled four holes for 1,263m. This phase stepped out from the core Payoff and Severance Zones and moved into the Commission Target, testing geophysical and geochemical anomalies that had not previously been drilled. The results also highlight management’s technical strength in advancing exploration despite limited surface exposure. Aside from hole ALT-25-012, Phase 2 drilling focused on the Alimony and Commission Targets, located at the outer limits of the 4km target area (see the green markings in Figure 1), making this phase particularly compelling.
FRG: High-Grade Struck at Alotta in First Hole of Phase 2 Program
What you need to know:• This morning, FRG announced assay results from rushed samples (due to visible gold mineralization) which intercepted 105 g/t Au over 1.25m.
• More samples from the high-grade hole ALT-25-012 are still pending while assays are outstanding for the remaining three holes of the Phase 2 program.
• The La Estrella Coal Project in Colombia is expected to produce its first coal from the bulk sample by year-end.
This morning, Forge Resources Corp. (FRG:CSE, FRGGF:OTC) announced the first gold assay result from the Phase 2 diamond drill program at its Alotta project. Hole ALT-25-012, at the Payoff Zone, returned 105 g/t Au over 1.25m. This sample was rushed to the lab due to the visual observations (visible gold), and assays of additional samples from the same hole are still pending. Assays are also pending from the remaining three holes of the four-hole Phase 2 program. We are maintaining our BUY rating and a target price of $1.00/share on FRG.
Highlights from today’s release:
• Hole ALT-25-012: 105 g/t Au over 1.25m, from 287m.
o Assays remain pending on the rest of the hole, and the samples are also being tested for silver, copper, and molybdenum.
• Drilling success at the Payoff Zone confirms widespread gold-bearing sulphide mineralization and quartz veining across a 500m strike.
• Alotta is a gold-enriched porphyry system hosting both semi-massive polymetallic sulphide veins and quartz veins overprinting the porphyry mineralization.
Phase 2 Drill Program Recap
On October 15th, FRG announced the completion of the Phase 2 diamond drill program, which totalled four holes for 1,263m. This phase stepped out from the core Payoff and Severance Zones and moved into the Commission Target, testing geophysical and geochemical anomalies that had not previously been drilled. The results also highlight management’s technical strength in advancing exploration despite limited surface exposure. Aside from hole ALT-25-012, Phase 2 drilling focused on the Alimony and Commission Targets, located at the outer limits of the 4km target area (see the green markings in Figure 1), making this phase particularly compelling.
Underlying
Forge Resources Corp.
Provider
Atrium Research Corporation
Atrium Research provides institutional quality issuer paid research on North American public equities using deep fundamental analysis. Our research reports are disseminated through Bloomberg, FactSet, Capital IQ, Reuters and many more, as well as through our social media and email distribution lists.
Ben Pirie
Other Reports on these Companies
Other Reports from Atrium Research Corporation
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.