FORGE RESOURCES CORP - FRGGF STOCK NEWS

Forge Resources Corp (CSE: FRG) (OTCQB: FRGGF) has announced significant progress at its fully licensed coal project in Colombia. Key developments include:

1. Completion of pilot hole drilling for the 170-meter underground decline, reaching a depth of 175 meters.

2. Engineered site preparation, including drainage systems, slope stability studies, and environmental measures like hydroseeding and tree planting.

3. Camp construction advancements, with completed cafeteria and kitchen areas.

4. Strategic team expansions, hiring experienced professionals Enrique Estrada (Senior Mining and Metallurgical Engineer) and Luis Carlos Herrera (Senior Civil Engineer).

These developments are important for the project's progress towards securing a valuable bulk sample, which will provide essential data for informed decision-making and contribute to the project's overall success.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has filed a Business Acquisition Report on SEDAR+ for its 40% stake in Aion Mining Corp, a fully permitted coal project in Santander, Colombia. The report is supported by an audit and independent valuation. Key highlights include:

1. Successful completion of an audit by WDM Chartered Accountants for Aion Mining's financial statements for fiscal years ending December 31, 2022, and 2023.

2. An independent valuation conducted by Evans and Evans, Inc., a Chartered Business Valuator (CBV), affirming the company's asset value.

These developments underscore Forge Resources' commitment to strategic growth and provide a clear perspective on the company's financial standing and strategic positioning.

Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) has initiated pilot drilling for underground decline development at its fully permitted coal project in Colombia. The company aims to access six coal seams through a 170-meter decline and crosscut, preparing for a 20,000-tonne bulk sampling program. Historical drilling shows coal quality averaging 12,400 BTU, with some samples reaching 13,900 BTU. The project is currently permitted for 180,000 tonnes per year.

CEO Cole McClay expressed confidence in the project's potential to meet global coal demands and drive value for shareholders. The company anticipates averaging $200-$250 CAD per tonne for the bulk sample offtake, with an agreement already in place with a major Colombian coal trader.

Forge Resources Corp. (FRGGF) has announced significant results from its 2024 diamond drilling program at the Alotta Project in Yukon. The company completed 1,815 meters of drilling in four holes, discovering additional porphyry-style mineralization at previously untested targets. Key highlights include:

1. Expansion of land package by 55%, now covering 4,343 hectares

2. Every drill hole intercepted potentially economic gold concentrations, mostly near the surface

3. Drill hole ALT-24-001 intersected 102.14 meters grading 0.275 g/t gold

4. The company plans to advance future drill programs with shorter holes to test more high-priority targets over the 1.0 x 4.0 km prospective area

These results demonstrate the potential for a large porphyry system at Alotta, with Forge Resources focusing on achieving higher gold grades and understanding the project's true potential.

Forge Resources (CSE: FRG, OTCQB: FRGGF, FSE: 5YZ) has successfully completed its Phase 1 diamond drilling program, initiated in November 2023. The program included six holes, each 420-502 meters long, revealing significant porphyry-style rock types, alterations, and mineralizations. Higher concentrations of molybdenum and chalcopyrite were observed compared to previous drilling. Assay results are pending, with Phase 2 drilling proposed for the summer after analysis.

The company also completed a non-brokered private placement, issuing 687,500 units at $0.80 per unit, raising $550,000. Each unit includes one flow-through common share and one transferable non-flow-through share purchase warrant, exercisable at $1.10 for one year. Proceeds will fund Canadian exploration expenses. A finder's fee of $30,000 and 37,500 warrants was issued.

Forge Resources Corp. (CSE: FRG, OTCQB: FRGGF, FSE: 5YZ) announced the extension of its Phase 1 drilling program due to promising visual observations indicating a mineralized porphyry system.

Drill holes ALT-24-003 and ALT-24-004 exhibit intense alteration and mineralization. Hole ALT-24-003 reached a depth of 405 meters, revealing extensive alteration and mineralization.

The company has staked and filed for 29 new claim blocks, totaling 940.9 hectares, expanding its Alotta property to 2,866.9 hectares.

Forge Resources will fund the program through a non-brokered private placement of up to 750,000 units at $0.80 each, aiming to raise $600,000.

Forge Resources announced the completion of their first two 2024 drill holes (ALT-24-001/002) at the Alotta property, confirming porphyry style mineralization. The drilling program is on schedule, with hole ALT-24-003 now testing the Severance Zone. ALT-24-001 showed higher concentrations of pyrite stringers and ALT-24-002 indicated increased alteration and sulphide mineralization at depth.

Previous drilling in November 2023 confirmed porphyry style mineralization, with ALT-23-001 intercepting 211.65 meters of 0.46 g/t gold. The Alotta property has 96 mineral claims covering 1,926 hectares, located 50 km southeast of Western Copper and Gold's Casino deposit. Forge Resources’ President, Lorne Warner, highlighted the significance of these findings in understanding mineralization controls at Alotta.

Western Copper and Gold recently completed significant financings, raising a total of $51 million.

Forge Resources announced the completion of its first 2024 planned drill hole at the Alotta property, showing promising porphyry style mineralization.

The drilling program remains on schedule, with the first hole (ALT-24-001) completed to a depth of 402 meters.

The hole, located in the Payoff Zone, revealed higher concentrations of pyrite stringers compared to previous drill holes.

Initial results indicate continuous mineralization with occurrences of chalcopyrite and molybdenite.

The Alotta property, spanning 1,926 hectares, is situated close to the significant Casino deposit.

Forge Resources aims to validate Alotta's potential to host a significant porphyry deposit through its ongoing exploration efforts.

Forge Resources announced the commencement of comprehensive soil studies and pilot drilling at its fully permitted La Estrella coal project in Santander, Colombia. The initiative aims to characterize the subsoil for exploratory and bulk sampling, involving soil classification and drilling six boreholes. Pilot drilling will begin around May 28, 2024, to assess soil conditions for future development. Geominas SA has completed platform and topography work. Forge has also extended its engagement with Clarkham Capital for investor relations, focusing on the German market, at a cost of €200,000 for two months.