# Formation Metals Intersects 0.98 g/t Au over 95.6 Metres Starting 7 Metres Below Surface, Including 3.14 g/t Au over the First 10 Metres, Extending the A-Zone Up to 50 Metres North at N2 Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/formation-metals-intersects-0-98-g-t-au-over-95-6-metres-starting-7-metres-below--d0f995c2-c884-4d24-a324-2a6fd10ff5dd Original source: https://orestocks.com/company/FOMO.CN/press-releases/6968085107466484 Publisher: orestocks Original announcement: 2026-09-22T14:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Formation Metals Inc. - Ticker: FOMO.CN - Exchange: Unavailable - Region: Quebec - Primary commodity: Gold - Secondary commodities: Copper, Zinc - Document categories: Drill results, Resource update - Extracted: 2026-09-22 15:32:12 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Formation Metals announced high-grade gold drill results from its N2 Property in Quebec, with a highlight intercept of 3.14 g/t Au over 10.0 metres within a broader 95.6-metre interval grading 0.98 g/t Au, starting just 7 metres below surface. This extends the A-Zone's northern horizon up to 50 metres north, demonstrating continuity in previously untested ground. The company is undertaking a fully funded 75,000-metre drill program to further expand the mineralization, which remains open in multiple directions, and is working towards a maiden Mineral Resource Estimate. Reasoning: The announcement reports a significant high-grade gold intercept near surface, extending mineralization in a previously untested area, which is a strong positive for an exploration-stage project. The company also highlights a fully funded drill program and good QA/QC practices. The main negative is the reliance on historical, non-compliant resource estimates. - Positive factor: High-grade gold intercept near surface - Positive factor: Significant extension of mineralization beyond historical limits - Positive factor: Thick, continuous gold mineralization - Positive factor: Project remains open in multiple directions - Positive factor: Fully funded drill program - Positive factor: Good QA/QC disclosure - Negative factor: Historical resource estimates are not compliant with current standards - Negative factor: True width is an estimate, not directly measured Facts used in scoring: 4 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### N2-26-033 [Link to this fact](https://atlas-extractions.minestarters.com/news/formation-metals-intersects-0-98-g-t-au-over-95-6-metres-starting-7-metres-below--d0f995c2-c884-4d24-a324-2a6fd10ff5dd#fact-drill-facts-0) N2 · gold #### Identity - Hole ID: N2-26-033 - Project: N2 - Commodity: gold - Region: canada\_qc - Reported Region: canada\_qc - Ticker: FOMO.CN #### Geometry - Grade: 0.98 - Grade Unit: g/t - Intercept: 95.6 m - From: 8.4 m - To: 104 m - Intercept Depth: 8.4 m #### Classification - Sample Type: drill - Group ID: N2-26-033:8.4-104 - Mining Method: open\_pit #### Location - Location: A-Zone - Easting: 304667 - Northing: 5490091 - Azimuth: 186 ° - Dip: -58 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: AGAT Laboratories Ltd - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Compositing - Cutoff Grade: 0.1 - Cutoff Unit: g/t #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a strong, thick, and continuous gold intercept near surface, extending the known mineralization in the A-Zone. The grade is good for an open-pit target, and the location beyond historical limits adds significant novelty. The estimated true width is a positive disclosure, though not a direct measurement. - Positive factor: Thick, continuous gold mineralization - Positive factor: Near-surface intercept ideal for open-pit potential - Positive factor: Extends mineralization beyond historical limits - Positive factor: Good grade for bulk tonnage open pit - Negative factor: True width is an estimate, not directly measured Evidence · text > N2-26-033, drilled north of the A-Zone, returned 0.98 g/t Au over 95.6 metres beginning at 8.4 metres downhole \(7.1 metres vertical\) #### Tags used in scoring **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The hole extends mineralization beyond the northern limit of the historical wireframes and into previously untested ground. Evidence · text > N2-26-033 extends the A-Zone's northern auriferous horizon 25 metres north over the upper 100 metres of the hole and up to 50 metres north at depth. Drilling into this previously untested ground shows that the horizon potentially remains open to the north. **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: The document states that the estimated true width generally corresponds to almost 79% of the intercepted core length. Evidence · text > Note 1: Illustrated mineralization intercepts are not directly representative of true width. Based on interpreting the angle of intersection, the estimated true width of the mineralized lens generally corresponds to almost 79% of the intercepted core length. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release includes detailed QA/QC protocols, mentioning blanks, standards, and the accredited lab AGAT Laboratories Ltd. Evidence · text > The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average during the analytical process. The gold analyses were completed by fire assay \(FA\) method with an ICP finish on 50 grams of materials at the AGAT Laboratories Ltd in Val d'Or, Quebec, Canada. **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: The cut-off grade for compositing is clearly stated as 0.1 g/t Au. Evidence · text > Note 2: Reported intervals are composited using a minimum cut-off grade of 0.1 g/t Au for higher-grade intervals. ### N2-26-033 [Link to this fact](https://atlas-extractions.minestarters.com/news/formation-metals-intersects-0-98-g-t-au-over-95-6-metres-starting-7-metres-below--d0f995c2-c884-4d24-a324-2a6fd10ff5dd#fact-drill-facts-1) N2 · gold #### Identity - Hole ID: N2-26-033 - Project: N2 - Commodity: gold - Region: canada\_qc - Reported Region: canada\_qc - Ticker: FOMO.CN #### Geometry - Grade: 3.14 - Grade Unit: g/t - Intercept: 10 m - From: 8.4 m - To: 18.4 m - Intercept Depth: 8.4 m #### Classification - Sample Type: drill - Group ID: N2-26-033:8.4-18.4 - Mining Method: open\_pit #### Location - Location: A-Zone - Easting: 304667 - Northing: 5490091 - Azimuth: 186 ° - Dip: -58 ° - Loc. Confidence: high - Loc. Source: document #### QA/QC - Laboratory: AGAT Laboratories Ltd - QA/QC Disclosed: Yes - QP Signed: Yes - QA/QC Methods: standards, blanks #### Compositing - Cutoff Grade: 0.1 - Cutoff Unit: g/t #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a bonanza-grade gold intercept for an open-pit target, occurring very close to surface and within a significant broader interval. It represents a strong positive for the project's economic potential and extends the known mineralization. - Positive factor: High-grade gold intercept near surface - Positive factor: Extends mineralization beyond historical limits - Positive factor: Bonanza grade for open pit potential - Negative factor: True width is an estimate, not directly measured Evidence · text > including 3.14 g/t Au over 10.0 metres from 8.4 metres. #### Tags used in scoring **Bonanza Intercept** Polarity: positive Definition: Exceptionally high-grade zone, well above the deposit-type norm. Why it applies: 3.14 g/t Au over 10.0 metres is an exceptionally high-grade zone for an open-pit gold deposit. Evidence · text > 3.14 g/t Au over 10.0 metres **Step-Out Extension** Polarity: positive Definition: Mineralization extended beyond the previously known limit. Why it applies: The hole extends mineralization beyond the northern limit of the historical wireframes and into previously untested ground. Evidence · text > N2-26-033 extends the A-Zone's northern auriferous horizon 25 metres north over the upper 100 metres of the hole and up to 50 metres north at depth. Drilling into this previously untested ground shows that the horizon potentially remains open to the north. **True Width Disclosed** Polarity: positive Definition: Actual thickness perpendicular to structure is stated, not just downhole length. Why it applies: The document states that the estimated true width generally corresponds to almost 79% of the intercepted core length. Evidence · text > Note 1: Illustrated mineralization intercepts are not directly representative of true width. Based on interpreting the angle of intersection, the estimated true width of the mineralized lens generally corresponds to almost 79% of the intercepted core length. **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release includes detailed QA/QC protocols, mentioning blanks, standards, and the accredited lab AGAT Laboratories Ltd. Evidence · text > The quality assurance and quality control protocols include insertion of blank or standard samples every 10 samples on average during the analytical process. The gold analyses were completed by fire assay \(FA\) method with an ICP finish on 50 grams of materials at the AGAT Laboratories Ltd in Val d'Or, Quebec, Canada. **Compositing Transparent** Polarity: positive Definition: Cut-off grade and internal dilution rules are clearly stated for reported intervals. Why it applies: The cut-off grade for compositing is clearly stated as 0.1 g/t Au. Evidence · text > Note 2: Reported intervals are composited using a minimum cut-off grade of 0.1 g/t Au for higher-grade intervals. ## Resource Estimates (2) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/formation-metals-intersects-0-98-g-t-au-over-95-6-metres-starting-7-metres-below--d0f995c2-c884-4d24-a324-2a6fd10ff5dd#fact-resource-facts-2) N2 Property · gold Historical result Needs review: historical\_restatement #### Identity - Project: N2 Property - Commodity: gold - Region: canada\_qc - Reported Region: Quebec - Ticker: FOMO.CN #### Resource scope - Estimate type: resource - Reporting standards: historical, non\_compliant - Resource group id: resource:a543701ca5aa814492d3 #### Resource Data - Tonnes: 18000000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 810000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This is a substantial historical gold resource, but its non-compliance with current reporting standards and lack of a defined category significantly reduce its reliability and novelty. It serves as an exploration target rather than a current economic estimate. - Positive factor: Significant contained gold ounces - Negative factor: Historical estimate, not compliant with current standards - Negative factor: No current resource category - Negative factor: Requires significant work to be classified as current resource Evidence · text > global historic resource of ~871,000 ounces comprised of 18 Mt grading 1.4 g/t Au \(~810,000 oz Au\) across four zones \(A, East, RJ-East, and Central\) #### Tags used in scoring **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The resource estimate is explicitly stated as historical, not compliant with current CIM categories, and requires significant work for reclassification. Evidence · text > The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated ### RJ zone [Link to this fact](https://atlas-extractions.minestarters.com/news/formation-metals-intersects-0-98-g-t-au-over-95-6-metres-starting-7-metres-below--d0f995c2-c884-4d24-a324-2a6fd10ff5dd#fact-resource-facts-3) N2 Property · gold Historical result Needs review: historical\_restatement #### Identity - Project: N2 Property - Commodity: gold - Region: canada\_qc - Reported Region: Quebec - Ticker: FOMO.CN #### Resource scope - Estimate type: resource - Reporting standards: historical, non\_compliant - Resource group id: resource:61ae79b9afabb463d620 - Deposit or zone: RJ zone #### Resource Data - Tonnes: 243000 - Grade: 7.82 - Grade Unit: g/t - Contained Metal: 61000 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes #### Dates - Event date: 2026-09-22T00:00:00.000Z Reasoning: This historical estimate for the RJ zone indicates a high-grade gold resource, which is positive. However, its historical nature and non-compliance with current standards mean it cannot be relied upon for economic studies without further work, limiting its current materiality and novelty. - Positive factor: High-grade gold resource - Negative factor: Historical estimate, not compliant with current standards - Negative factor: No current resource category - Negative factor: Requires significant work to be classified as current resource Evidence · text > 243 Kt grading 7.82 g/t Au \(~61,000 oz Au\) across the RJ zone #### Tags used in scoring **Historical Estimate Only** Polarity: negative Definition: Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling. Why it applies: The resource estimate is explicitly stated as historical, not compliant with current CIM categories, and requires significant work for reclassification. Evidence · text > The above referenced resource estimates do not have a category, are considered historical in nature, and are based on prior data prepared by a previous property owner, and do not conform to current CIM categories. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.