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Formation Metals upsizes private placement to $22M to expand Quebec gold drill program to 75,000 metres.

Company Fundamentals
19 May 2026
Accesswire
View Source
Bullish
pluang ai news

Formation Metals has increased its non-brokered private placement from $15M to $22M due to strong investor demand. The funds will expand its 2026-2027 drill program at the N2 Gold Project in Quebec to 75,000 metres, up from the current 30,000 metres. The project hosts a historic resource of approximately 871,000 ounces of gold, with promising recent drill results confirming continuous gold mineralization. The company aims to explore further along strike and at depth, targeting potential open-pit resources in a well-established mining region with strong infrastructure.

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