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Drill Results

Formation Metals Appoints Roger Rosmus to Newly Established Advisory Board

By The Northwire Desk — AI Analysis Feb 19, 2026 · 03:01 FOMO · 0.37 Formation Metals Inc.
FOMO · Price

Executive Summary

  • Formation Metals appoints Roger Rosmus, Founder & CEO of Goliath Resources, to its newly created Advisory Board.
  • The company releases significant assay results from its fully funded 30,000 m maiden drill program at the N2 Gold Project, highlighting near‑surface gold intercepts that support an open‑pit resource potential.
  • Management emphasizes that the new advisory expertise will aid strategic exploration, corporate development, and capital market outreach as the project moves toward a maiden mineral resource estimate in Q3 2026.

Key Details

  • Advisory Board Appointment
  • Roger Rosmus joins as inaugural member of Formation Metals’ Advisory Board.
  • Rosmus brings >25 years experience in investment banking, corporate finance and executive management within the resource sector; currently Founder & CEO of Goliath Resources Ltd.

  • Role: provide strategic counsel on exploration, corporate development, and institutional outreach.

  • Drill Results – Hole N2‑25‑005

  • 0.91 g/t Au over 42.3 m (starting at 14.0 m depth, 9.9 m vertical).

  • Highlight intervals: 2.04 g/t Au over 8.1 m; 1.31 g/t Au over 11.4 m.

  • Drill Results – Hole N2‑25‑012

  • 1.75 g/t Au over 30.4 m (starting at 64.1 m depth, 45.3 m vertical).

  • Highlight intervals: 3.51 g/t Au over 10.5 m; 19.2 g/t Au over 0.51 m.

  • Project Context

  • N2 Gold Project hosts historic resources of ~871,000 oz Au (18 Mt @ 1.4 g/t) and ~61,000 oz Au in the RJ zone (243 kt @ 7.82 g/t).
  • Six primary auriferous zones; all remain open for expansion along strike and at depth.

  • Phase 1 of a 30,000 m drill program (14,000 m allocated) aims to improve confidence, grow resources, and collect metallurgical samples.

  • Strategic Outlook

  • Company targets maiden mineral resource estimate in Q3 2026 after completing ~70,000 m of drilling.
  • Emphasis on potential open‑pit economics due to wide, continuous near‑surface intercepts and favorable strip ratios.

  • Additional base‑metal (Cu‑Zn) potential identified with historic drill intercepts ranging 200–4,750 ppm Cu and 203–6,700 ppm Zn.

  • Quotes

  • CEO Deepak Varshney: “Roger’s deep understanding of the Canadian capital markets… makes him an invaluable asset… we are assembling a world‑class team of advisors to support our growth trajectory.”

  • Roger Rosmus: “I am excited to join Formation Metals at this pivotal time… the N2 Project’s location… combined with its historic resource base and ongoing drilling success, positions the Company for substantial upside.”

  • Qualified Person

  • Technical content reviewed by Babak V. Azar, P.Geo., (OGQ#10876).

Notable Quotes

“We are thrilled to welcome Roger as the founding member of our Advisory Board… this appointment marks a significant milestone for Formation Metals as we begin to assemble a world‑class team of advisors to support our growth trajectory.” – Deepak Varshney, CEO & Director

“I am excited to join Formation Metals at this pivotal time. The N2 Project’s location in the world‑class Abitibi Greenstone Belt… positions the Company for substantial upside.” – Roger Rosmus, Advisory Board Member

Read the original news release →

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Formation Metals Secures $15M Funding, Eyes 50K-Metre Drill Expansion at N2

Drill Results Apr 29, 2026 · 17:25

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Drill Results