Highlights

  • Forge Resources has initiated a summer drill program at the Alotta project in Yukon, targeting porphyry-style mineralization.
  • The first hole revealed veining and alteration consistent with phyllic zones, while drilling preparations continue across key targets.
  • The company closed an oversubscribed flow-through financing, raising CAD1.28 million for exploration activities.

Forge Resources Corp. (CSE: FRG) is a Canadian-listed junior exploration company focused on advancing the Alotta copper-gold-molybdenum project. Located in the Yukon Territory, the project sits within an established porphyry and epithermal belt and is situated southeast of the Casino deposit.

The company has commenced its 2025 drill program at the Alotta project in Yukon, Canada. Drilling operations began on June 2, with the first hole (ALT-25-007) planned to reach a depth of 300 metres. The program marks the next phase of exploration on the property, which lies 50 kilometres southeast of the Casino deposit within the Dawson Range mineral belt.

Initial observations from the first drill hole have identified mineralization in the upper 25 metres, including veining and alteration typically associated with porphyry systems. Features such as disseminated pyrite, minor chalcopyrite, quartz breccias, and phyllic alteration (characterized by silicification and sericite) have been logged, suggesting geological alignment with the company's existing model of mineralization at the site.

Preparations are underway for step-out drilling within the Payoff Zone, where the 2023 drill campaign returned an intercept of 211.65 metres grading 0.46 g/t gold. Drill pads are being constructed to support upcoming holes ALT-25-008 and ALT-25-009. The 2025 exploration program includes up to 4,000 metres of diamond drilling across 12 planned holes. Drilling targets will evaluate both known mineralized areas and unexplored geophysical and geochemical anomalies across a 4 km by 1 km corridor.

Reconnaissance drilling is also scheduled for other zones on the property, particularly those that have demonstrated elevated surface values of gold, copper, and molybdenum in prior sampling. These areas remain untested by drilling but were selected due to their anomalous geochemical profiles and rock sampling results, including rock values exceeding 1 g/t gold.

In conjunction with field operations, Forge Resources has closed its previously announced non-brokered flow-through financing. The offering was oversubscribed, raising total gross proceeds of approximately CAD 1.28 million through the issuance of 1,940,152 flow-through units priced at CAD 0.66 per unit. Each unit includes one flow-through common share and one-half of a non-flow-through warrant. Each whole warrant allows the holder to acquire an additional share at CAD 1.00 within two years. The warrants are subject to an acceleration clause based on market price conditions.