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Acquisition Agreements Completed to Expand High Value Assets and Development of Vital Mineral Resources: Forge Resources Corp. (OTCQB Stock Symbol: FRGGF)

By: Get News

• Junior Minor with High-Value Projects Being Developed in Canada and Columbia. 

• Currently Developing a Prospective Porphyry Copper-Gold-Molybdenum Project in the Yukon Territory of Canada. 

• Acquired 40% Interest in Aion Mining Corp., a Company that is developing the fully permitted La Estrella coal project in Columbia. 

• Proposing to Complete up to 5 Drill Holes as a Continuation of the Fall 2023 Diamond Drilling Paused in November for the Winter Season.

Forge Resources Corp.(CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ0)  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, FRGGF 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.

Forge Resources Updates OTCQB Ticker Symbol

On April 22nd FRGGF announced that subsequent to its April 18, 2024 news release announcing the new Company name, it has received confirmation of the new OTCQB ticker symbol "FRGGF" to commence trading under the new ticker symbol at the open of trading on Monday, April 22, 2024.

Cole McClay, FRGGF CEO stated: "With great enthusiasm, we unveil our new name: Forge Resources Corp. We have selected Forge Resources as the company title because it embodies our vision, resilience, and commitment to developing high-quality projects."

Target Areas for Drill Testing at Alotta Project, Yukon

On April 18th FRGGF announced the company has prioritized the initial target areas for drill testing this spring on the Alotta project. Currently, FRGGF is proposing to complete up to 5 drill holes for a total of 2,500 meters as part of the continuation of the fall 2023 diamond drilling program that paused in November for the winter season.

The proposed holes will focus on several high-priority and undrilled tested coincident geochemical/geophysical anomalies along a four-kilometer trend. Archer Cathro and FRGGF have created a preliminary drill plan for the 2024 Alotta field program, to test for porphyry-style mineralization on the property. The strategy is designed to test the best drill targets based on merit. These areas are situated in closer proximity to the core area of coincident soil and geophysical anomalies with previous rock sampling confirming the occurrence of copper and gold mineralization.

Acquisition of Further Interest in Fully Permitted Coal Project

On April 16th FRGGF announced that, further to its previous news releases posted on January 31, 2024, and April 9, 2024, it has entered into a formal agreement with Aion Mining Corp whereby FRGGF will acquire a further interest in Aion to bring the Company's total interest to 40%.

Pursuant to the formal agreement, FRGGF will acquire common shares of Aion in order to bring the total ownership of the Company to 40% of the post-issuance common shares of Aion, calculated on a fully diluted basis. In consideration, FRGGF will provide Aion with the previously announced aggregate amount of $1,875,000:

$1,000,000 in cash on closing (previously $500,000); and

1,508,621 common shares (previously 2,370,690) of FRGGF at a deemed price of $0.58 per share, subject to CSE policies.

FRGGF CEO Cole McClay stated: "Furthering the Company's interest in Aion Mining Corp is a great step forward in developing the La Estrella coal project. With this investment, the project will secure its underground exploration initiatives to better understand the known coal seam occurrences which remain open along strike in both directions and to depth."

For more information on $FRGGF visit:


Disclosure listed on the CorporateAds website

Media Contact
Company Name: Forge Resources Corp.
Contact Person: Cole McClay, CEO
Email: Send Email
Phone: 604-271-0826
Address:12471 Horseshoe Way Suite 1050
City: Richmond
State: British Columbia
Country: Canada

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