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$FRGGF News: Forge Resources Reports Second Quarter 2024 Financials and Milestone Summary
Newsfile Corp.
Tue, Apr 30, 2024, 8:00 AM EDT
In This Article:
FRGGF
Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ0) ("FRG" or the "Company") announces the SEDAR filing of Interim Financial Statements and MD&A for the second quarter ended February 29, 2024.
Key milestone dates for the three and nine months ended February 29, 2024:
April 18, 2024 - the Company changed its name and ticker symbol from Benjamin Hill Mining Corp. (CSE: BNN) to Forge Resources Corp (CSE: FRG).
April 18, 2024 - announced target areas for drill program to commence in the spring of 2024 consisting of 5 drill holes for a total of 2,500 metres as part of the continuation of the fall 2023 diamond drilling program. Additionally, the Company announced the staking of 18 new claim blocks, totalling approximately 376 hectares. The Alotta property now consists of a total of 96 mineral claims that cover approximately 1,926 hectares.
April 16, 2024 - signed a definitive agreement with Aion Mining Corp. ("Aion') to complete a further acquisition in Aion to bring the Company's total interest to 40%. Pursuant to the agreement, the Company acquired common shares of Aion to bring the total ownership of the Company to 40%, calculated on a fully diluted basis.
March 26, 2024 - closed an oversubscribed private placement comprising 8,352,750 units $0.64 per unit for gross proceeds of $5,345,760.
February 29, 2024 - released assay results from the inaugural diamond drill holes that intercepted 211.65 metres of 0.46 gram per tonne gold in extensive porphyry-style mineralization at the Alotta gold-copper-molybdenum target in west-central Yukon.
December 14, 2023 - signed a definitive agreement with Aion Mining Corp. ("Aion") to complete the Company's acquisition of a 20% interest in Aion. Pursuant to the agreement, the Company acquired common shares of Aion representing a 20% interest, calculated on a fully diluted basis.
November 2, 2023 - closed a non-brokered private placement comprising of 2,480,000 flow-through units at $0.25 per FT Unit for proceeds of $620,000 and 840,000 non-flow-through units at $0.25 per NFT Unit for proceeds of $210,000. Total proceeds of $730,000.
November 28, 2023 - completed two NQ size diamond drill holes ALT-23-01/02 for a total of 842 metres at the Alotta project. Both holes exhibited multiple intrusive phases including intrusive breccias displaying strong biotite alteration, carbonate veining, and pyrrhotite, pyrite, chalcopyrite and molybdenite mineralization as interstitial clots and stringers.
About Forge Resources Corp.
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 located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada.
In addition, the Company holds a 40% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.
On behalf of the Board of Directors
"Cole McClay", CEO Forge Resources Corp.
604-271-0826
Forward-Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-Looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207376
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