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Formation Metals Closes $2.33M at up to $0.50/Unit Increasing Exploration Budget to ~$5.1M, Expands Maiden Drill Program at the Advanced N2 Gold Project to Fully Funded 10,000 Metres
Highlights: Formation has planned a 20,000 metre multi-phase drill program at its flagship N2 Gold Project near Matagami, Quebec, host to a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. Phase 1 has been expanded to a fully funded 10,000 metre program focusing on targets in the "A" zone, a shallow, highly continuous, low-variability historic gold deposit with ~522,900 ounces of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to high-grade intercepts from historical drill holes as high as 51 g/t Au over 0.8 metres2, which was expanded by Agnico Eagle Mines in 2008 in the most recent drilling at the Property. Formation anticipates commencing its drill program in early August. Formation will also focus on N2's significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes with significant gold grades (>1 g/t Au). The Company has closed ~$4M across two tranches, bringing its working capital to ~C$5M with zero debt. Inclusive of provincial tax credits from the Quebec government, Formation's exploration budget for 2025-2026 is set at ~$5.1M, putting it in a very strong financial position to execute its exploration programs. Formation is now funded to complete the $5M work commitment required to earn-in to 100% of the N2 Gold Project within two years, four years ahead of schedule. VANCOUVER, BC / / July 23, 2025 / Formation Metals Inc. ("Formation" or the "Company") (CSE:FOMO)(FSE:VF1)(OTCQB:FOMTF), a North American mineral acquisition and exploration company, is pleased to announce that it has elected to expand its maiden drill program at its N2 Gold Property ("N2" or the "Property"), located 25 km south of Matagami, Quebec, to a fully funded 10,000 metres following the successful closing of ~$4M. The Company anticipates commencing on the program in early August, having officially filed its Annual Exploration Work Notice ("Planification Annuelle Des Travaux d'Exploration") with the responsible municipal authorities for its upcoming 2025 exploration activities on June 17, 2025. This filing must be completed 30-days in advance of the commencement of fieldwork and ensures compliance with regulatory requirements and reflects the Company's continued commitment to transparency, community engagement, and responsible mineral exploration practices. The work program will focus on advancing key targets across Formation's Quebec-based properties. The 10,000 metres comprising Phase 1 is part of its planned 20,000 metre multi-phase drill program at N2, an advanced gold project with a global historic resource of ~870,000 ounces comprised of 18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4. Deepak Varshney, CEO of Formation Metals, stated, "We are very grateful for the support Formation has received from new and past shareholders. With over five million in working capital, Formation is now positioned to commence on the most aggressive drill program our company has embarked on to date, with 10,000 metres fully funded for 2025. This financing secures Formation's future with the N2 Gold Deposit as we will be funded to complete the work requirements of our six-year option within the first two years, four years ahead of schedule." Mr. Varshney continued: "We are very excited to commence our maiden drill program at N2. Based on our on-going review and planning for Phase 1, we feel comfortable in expanding our maiden drill program to a fully funded 10,000 metres. Given the scale of the property, the compelling geological data, and the Abitibi Greenstone Belt's established history as a hotbed for gold mining, we are hopeful that the program will deliver our goal of delivering a near-surface multi-million-ounce deposit at N2. We see the potential for a significant gold deposit at N2, and our maiden 10,000-metre drilling program will mark the beginning of Formation's pursuit of that goal. Our maiden program will focus on building on the successes of our predecessors. The drilling discoveries made by Agnico-Eagle and Cypress show the potential at N2. With gold at over $3,400, over 4 times the price in 2008 when Agnico last drilled the project, we believe that the timing is perfect for N2 and look forward to a very busy upcoming field season." Comprising 87 claims totaling ~4,400 ha within the Abitibi sub province of Northwestern Quebec, Formation's flagship N2 Gold Project is an advanced gold project with a global historic resource of 877,000 ounces: 18.2 Mt grading 1.48 g/t Au (~810,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~67,000 oz Au) across the RJ zone2,4. There are six primary auriferous mineralized zones in total, each open for expansion along strike and at depth. Compilation and geophysical work by Balmoral Resources Ltd. (now Wallbridge Mining) from 2010 to 2018 generated numerous targets that have not yet been investigated with diamond drilling. The drill program is designed to focus on discovery drilling at new high-potential targets along the mineralization strikes at the "A", "RJ" and "Central" zones in the northern part of the Property in order to discover new auriferous trends and unlock new zones of gold mineralization. The program will also focus on high-priority infilling and expansion targets in these zones to significantly enhance the auriferous zones identified to-date (Figure 1). Historical highlights from the top two priority zones include: A Zone: With a historical resource of ~522,900 gold ounces (10.7 Mt @ 1.52 g/t Au), the "A" Zone is a shallow, highly continuous, low-variability historic gold deposit with ~15,000 metres of drilling across 55 drillholes, 84% of which intercepted gold mineralization. The best historical intercept includes up to 1.7 g/t over 35 metres. ~1.65 km of strike has been drilled, with 3.1+ km of strike to be tested as part of the 20,000 metre program. RJ Zone: With a historical resource of ~61,100 gold ounces (243 Kt @ 7.82 g/t Au), the "RJ" Zone is a high-grade target that was expanded upon in the last drill program in 2008 by Agnico-Eagle when gold was approximately ~$800/oz. Historically, 20,875 metres has been drilled over 82 drillholes, with best intercepts of 48 g/t over 0.5 metres and 16.5 g/t over 3.6 metres. ~900 metres of strike has been drilled, with 4.75+ km of strike to be tested as part of the 20,000 metre program. The Company also believes that N2 has significant base metal potential, where it recently completed a revaluation process which revealed significant copper and zinc intercepts within historic drillholes known to have significant gold grades (>1 g/t Au). Assay results range from 200 to 4,750 ppm and 203 ppm to 6,700 ppm, for copper and zinc, respectively, indicating strong potential for elevated base metal (Cu-Zn) concentrations across the property, specifically at the A and RJ zones. Property wide geology at N2 features volcanic and sedimentary rocks formed in regional anticlinal and synclinal flexures. Three principal deformation structures (Figure 1), oriented along the known NW-SE to WNW-ESE structural trends typical of VMS deposits in the Matagami region, function as critical geologic controls for mineralization on the property. For the 2025 exploration season, Formation plans to concentrate its efforts on the northern part of N2, targeting gold deposit expansion and discovery along identified zones and fault systems associated with the main deformation features (specifically WNW-ESE trend), with IP surveys and drilling planned to model mineralized zones that will hopefully contribute to an updated NI-43 101 compliant resource. Formation will also look to further review historic base metal assays from older drill core and undertake additional work in 2025 to assess the property's copper and zinc potential. The Company is pleased to announce that it has closed tranches of its non-brokered private placements raising total gross proceeds of $2,334,400.03 through the issuance of (i) 1,434,000 flow-through units (the "Units") at $0.35 per Unit (the "FT Offering"), (ii) 1,724,138 charity flow-through units (the "CFT 4MH Unit") at $0.435 per CFT 4MH Unit (the "CFT 4MH Unit Offering"), and (iii) 2,185,000 charity flow-through units (the "CFT Units") at $0.50 per Charity FT Unit (the "LIFE Offering"). Each Unit consists of one flow-through common share (each a "FT Share") of the Company, and each FT Share qualifies as a "flow-through share" as defined in section 66(15) of the Income Tax Act (Canada), and one transferable common share purchase warrant (each a "Warrant"), with each Warrant entitling the holder to purchase one additional common share (a "Warrant Share") at an exercise price of $0.60 per Warrant Share for a period of two (2) years from the date of closing of the Private Placement (the "Expiry Date"). In connection with the FT Offering, the Company paid finder's fees of $35,133 cash and 29,680 non-transferable finder's warrants (each a "Finder's Warrant") to arm's length parties, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange ("CSE"). The Finder's Warrants are exercisable at $0.60 per Share until the Expiry Date. The Company closed the first tranche of the FT Offering of Units at $0.35 on June 13, 2025 issuing 4,701,286 Units for proceeds of $1,645,450.10. The FT Offering was oversubscribed by 421,001 Units. The securities issued in connection with the Unit Offering are subject to a statutory hold period of four months following the date of issuance in accordance with applicable Canadian securities laws. Each CFT 4MHUnit consists of one Share (a "CFT 4MH Share") and one common share purchase warrant (a "CFT 4MH Warrant"), with each CFT 4MH Warrant exercisable to acquire one Warrant Share at an exercise price of $0.60 until the Expiry Date. Each CFT 4MH Share qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada). In connection with the CFT 4MH Unit Offering, the Company paid finder's fees of $17,723.97 cash and 56,700 non-transferable Finder's Warrants to arm's length parties, in accordance with applicable securities laws and the policies of the CSE. The Finder's Warrants are exercisable at $0.60 per Share until the Expiry Date. The securities issued in connection with the CFT 4MH FT Offering are subject to a statutory hold period of four months following the date of issuance in accordance with applicable Canadian securities laws. In addition, the Company announces that it has increased its CFT 4MH Unit Offering by an additional 2,298,850 per CFT 4MH Unit at $0.435 per CFT 4MH Unit for additional gross proceeds of up to $1,000,000 to be raised pursuant to a second tranche. The Company expects the second tranche of the CFT 4MH Unit Offering to close on or about July 28, 2025. Each CFT Unit consists of one Share (a "LIFECFT Share") and one common share purchase warrant (a "LIFE Warrant") with each LIFE Warrant exercisable to acquire one additional Share of the Company at an exercise price of $0.60 until the Expiry Date. Each LIFE CFT Share qualifies as a "flow-through share" within the meaning of subsection 66(15) of the Income Tax Act (Canada). The LIFE Offering was conducted under the listed issuer financing exemption as per Part 5A of National Instrument 45-106 - Prospectus Exemptions to qualified investors in Canada. As a result, the securities issued in the LIFE Offering are not subject to a hold period under the prevailing Canadian securities laws. In connection with the LIFE Offering, the Company filed an Offering Document (the "Offering Document") dated July 6, 2025, as amended on July 10, 2025, which is available on the Company's SEDAR+ profile at and on None of the securities issued in connection with the FT Offering, the CFT 4MH Unit Offering and the LIFE Offering are subject to the Exchange Hold (as defined under CSE Policy 1 Interpretation and General Provisions which definition became effective May 22, 2025), required in certain circumstances in accordance with Policy 6 Distributions and Corporate Finance of the CSE. The Company intends to use the net proceeds of the Offerings for fieldwork at the Company's exploration projects and, in the case of the net proceeds from the LIFE Offering, as more particularly set out in the Offering Document. Qualified person The technical content of this news release has been reviewed and approved by Mr. Babak Vakili Azar, an independent contractor and a qualified person as defined by National Instrument 43-101. Historical reports provided by the optionor were reviewed by the qualified person. The information provided has not been verified and is being treated as historic. About Formation Metals Inc. Formation Metals Inc. is a North American mineral acquisition and exploration company focused on the development of quality properties that are drill-ready with high-upside and expansion potential. Formation's flagship asset is the N2 Gold Project, an advanced gold project with a global historic resource of ~870,000 ounces (18 Mt grading 1.4 g/t Au (~809,000 oz Au) across four zones (A, East, RJ-East, and Central)2,3 and 243 Kt grading 7.82 g/t Au (~61,000 oz Au) across the RJ zone2,4) and six mineralized zones, each open for expansion along strike and at depth including the "A" zone, of which only ~35% of strike has been drilled (>3.1 km open), and the "RJ" zone, host to historical high-grade intercepts as high as 51 g/t Au over 0.8 metres. FORMATION METALS INC. Deepak Varshney, CEO and Director For more information, please call 778-899-1780, email info@ or visit Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. Notes and References: Readers are cautioned that the geology of nearby properties is not necessarily indicative of the geology of the Property. 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. While the Company considers the estimates to be reliable, a qualified person has not done sufficient work to classify the historical estimates as current resources in accordance with current CIM categories and the Company is not treating the historical estimates as a current resource. A 0.5 g/t Au cut-off was used in the preparation of the historical estimates with a minimum 2.5 metre mining width. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the historical estimates can be classified as current resources. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. The Company is not aware of any more recent estimates prepared for the N2 Property. Needham, B. (1994), 1993 Diamond Drill Report, Northway Joint Venture, Northway Property; Cypress Canada Inc.; 492 pages. Guy K. (1991), Exploration Summary May 1, 1990 to May 1, 1991 Vezza Joint Venture Northway Property; Total Energold; 227 pages. Forward-looking statements: This news release includes "forward-looking statements" under applicable Canadian securities legislation, including statements respecting: the Company's plans for the Property and the expected timing and scope of the 2025 drilling program at the Property; the Company's goal of delivering a near-surface multi-million-ounce deposit the Property; the Company's anticipated timeline with respect to the Application for Autorisation de Travaux d'exploration à Impacts (ATI) to the Ministère des Ressources naturelles et des Forets (MERN); the Company's view that the Property has the potential for over three million ounces of gold; the 10,000-metre drilling program marking the beginning of the Company's pursuit of that goal; and statements respecting the Offerings and the expected use of proceeds therefrom. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Readers are cautioned that such forward-looking statements are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. No Offer or Solicitation to Purchase Securities in the United States This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. SOURCE: Formation Metals View the original press release on ACCESS Newswire
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1 Canadian Gold Stock That's My Inflation Hedge
Written by Adam Othman at The Motley Fool Canada Simply setting aside some money each month and hiding it under your mattress might seem like a safe way to save for your retirement nest egg. However, any money that you leave idle simply cannot retain its value, let alone grow more valuable over time. Why? Inflation will deteriorate the value of that money. Persistently rising consumer prices can erode the value of all the hard-earned savings. However, investing your money in the right areas within the stock market can be the answer to the inflation problem. Instead of letting your money sit idly, you can put it to work in the market, allocating it to assets that can deliver inflation-beating returns. When thinking of safe-haven assets, people typically think of gold. Today, I will discuss a stock you can consider if you are bullish on gold but want the flexibility and ease of liquidity of stock market investing as you hedge your bets. Agnico Eagle Mines Agnico Eagle Mines (TSX:AEM) is a Toronto-headquartered, $82.44 billion market capitalization company that engages in gold exploration and production. The company has long been a top pick of mine in the Canadian gold mining industry, and for good reason. The company's acquisition of Kirkland Lake allowed Agnico Eagle to become a significant competitor to Barrick Gold, which has been dominating the industry for a while. The company's recent financials reflect the improvement in its performance after the acquisition, and a look at the chart above also shows it. The recent uptick in AEM stock share prices comes in after the company's financials painted a pretty picture for fiscal 2024. The company posted $2.1 billion in cash flow, a new record for itself. The company expects its earnings per share this year to double from 2024. Rising gold prices have been a major boost to gold mining companies like Agnico Eagle. The higher the price of gold, the better the margins for gold-producing companies. That said, the price of gold tends to fluctuate a lot, and there's only so much a company can leverage rising gold prices. For now, Agnico Eagle Mines looks well-positioned to remain a top player in the industry. Foolish takeaway As of this writing, Agnico Eagle Mines stock trades for $163.99 per share and pays its shareholders US$0.40 per share every quarter, translating to a 1.35% dividend yield. Up by 38.90% year to date, it has shown an impressive performance on the stock market in the last few months. In the same period, Barrick Gold is up by 26.21%. The performance of AEM stock compared to Barrick shows it has the potential to outperform other players in the sector. If you want to hedge against inflation, exposure to a safe-haven asset like gold can be an excellent play. By investing in a gold-producing company's shares in the stock market, you can leverage rising gold prices while enjoying the flexibility of stock market investing. To this end, AEM stock can be an excellent holding to consider for your self-directed investment portfolio. The post 1 Canadian Gold Stock That's My Inflation Hedge appeared first on The Motley Fool Canada. More reading 10 Stocks Every Canadian Should Own in 2025 [PREMIUM PICKS] Market Volatility Toolkit A Commonsense Cash Back Credit Card We Love Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 2025 Sign in to access your portfolio
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Orosur Drills 62.3m @ 12.76g/t Au at Pepas
Orosur Mining Inc - Exceptional results at Pepas Assays from nine more holes at Pepas and surrounds. Best results include: PEP040 - 10.25m @ 1.35 g/t Au PEP041 - 31.75m @ 2.01 g/t Au PEP042 - 3.25m @ 4.89 g/t Au PEP044 - 38.50m @ 6.01 g/t Au PEP045 - 62.3m @ 12.76 g/t Au PEP046 - 53.2m @ 3.36 g/t Au Geological studies developing new concepts for later testing. LONDON, GB / / July 17, 2025 / Orosur Mining Inc. ("Orosur" or the "Company") (TSXV:OMI)(AIM:OMI), is pleased to announce an update on the progress of exploration activities at the Company's flagship Anzá Project ("Project") in Colombia. Colombia - ANZÁ ProjectThe Anzá Project is now 100% owned by the Company following completion of a Share Purchase Agreement ("SPA"), announced 28th November 2024, whereby the Company purchased all of the shares of its previous JV partner; Minera Monte Aguila ("MMA"). The Project, which is located 50km west of Medellin, is easily accessible and boasts excellent infrastructure including water, power and communications as well as a large exploration camp. The Project sits within the prolific mid-Cauca belt, Colombia's primary gold belt, and is located along strike between several world class gold/copper deposits including Buritica, Quebradona and Guayabales/Marmato (Figure 1). From September 2018 to November 2024, the Anzá Project was under the control of its previous JV partner MMA, itself a 50/50 venture between the world's two largest gold miners, Agnico Eagle Mines and Newmont Mining. Figure 1. Mid-Cauca Belt ProspectsThe Company is currently focussed on three prospects within the Anzá Project - Pepas, APTA and El Cedro. All three prospects are within the same granted exploration title that is broken into two, non-contiguous pieces (Figure 2). Drilling is currently being undertaken at the Pepas prospect in the northern extent of the Anzá Project (pre-acquisition) over 10km north of the central base camp at APTA. In parallel, mapping and sampling is being undertaken over the El Cedro porphyry system in the south of the project area. Figure 2. Main prospects, licences pre-MMA acquisition Pepas ProspectPepas was discovered by MMA in late 2021 by BLEG sampling and geological mapping, followed by 11 diamond drill holes in 2022 (PEP001 to PEP011). After completion of the transaction to buy MMA ("Transaction"), the Company restarted drilling at Pepas in late-November 2024. Drilling commenced with hole PEP012, which was positioned to confirm previous high-grade results in holes PEP001, PEP005 and PEP007 drilled in 2022. Figure 3. Plan of holes Drilling at Pepas, post Transaction, has largely concentrated on a small central core, where a body of high-grade gold mineralisation is being defined from surface. Additional drilling has also been undertaken around this central core to understand the wider geological context and as the commencement of a larger scale exploration program. Of the nine holes discussed in this announcement, six (PEP038 to PEP043) were drilled around but outside the Pepas core, while three (PEP044 to PEP046) have been drilled as part of the previously announced infill program that is designed to move Pepas to a Mineral Resource Estimate (MRE). PEP038 was drilled to the north at what is referred to as Pepas North. This was the third of three holes drilled here as the first move to this area, following up positive surface geochemical results. This hole was drilled orthogonal to the two previous holes, to provide the maximum lithological and structural information. PEP038 returned a result of 16.8m @ 0.68g/t Au. As with the two previous holes in this vicinity, this hole demonstrates the scale of the epithermal system that hosts Pepas and has provided valuable information to understand the controls of this system. PEP039 was a speculative exploration hole drilled a substantial distance to the south and west of the Pepas core, following up zones of surface silicification. No substantial results were returned. PEP040 was drilled outside the known Pepas envelope to the SW, to test lower-level shallow mineralisation previously identified by earlier drilling. The hole returned a small intersection of 10.25m @ 1.35g/t Au from surface (figure 4) that indicates the potential for a body of satellite mineralisation, adjacent to the Pepas core, that will require additional follow up. Figure 4. PEP040 and PEP046 section PEP041 was drilled outside the currently known Pepas envelope to the north to test the northward extension of the mineralisation first identified by earlier drilling undertaken by the Company's previous JV partner MMA. This hole returned a positive intersection of 31.75m @ 2.01 g/t Au, opening this area for potential extension (figure 5). Figure 5. PEP041 Section PEP042 was drilled to the NE of the currently known central core of mineralisation as a conceptual hole to test geophysical zones that were identified by the recent airborne magnetic survey. No surface geochemical work has yet been undertaken in this area. Several thin zones of encouraging gold mineralisation were encountered in this hole, well outside the known mineralised core (figure 6). This result has substantially increased the potential of this area and will now be followed up with surface mapping and sampling, and potentially later drilling. Figure 6. PEP042 Section PEP043 was drilled outside the known mineralised envelope to test areas of surface silicification. No substantial intersections were recorded Holes PEP044, PEP045 and PEP045 were all drilled as part of the previously announced MRE infill program at Pepas. A plan for this program has been developed to infill Pepas to sufficient degree to potentially allow a high level (measured and indicated) MRE to be calculate, but also to assist in understanding the controls upon mineralisation and to better define the very high-grade zones that have the potential to add substantial ounces. Results from these holes were exceptional, with PEP044 returning 38.5m @ 6.01g/t Au, PEP045 returning 62.3m @ 12.76g/t Au and PEP046 returning 53.2m @ 3.36g/t Au (figures 4 and 7). The Company feels these results vindicate its decision to begin the resource drilling phase at Pepas, with these exceptionally thick, and high-grade results, substantially upgrading the potential for contained ounces beyond what had been assumed at the commencement of the process. In addition, the results, particularly that of PEP045, have provided valuable insight to the primary controls upon this mineralisation, suggestive of the main feeder zone being a series of steeply dipper structures along the SW margin of the zone. The depth extent implications of this theory will be tested in later drilling Figure 7. PEP044 and PEP045 section Drill intersections for these most recent holes are as follows: Hole Number From (m) To (m) Interval (m) Au (g/t) PEP038 0 16.8 16.8 0.68 PEP039 No significant intersections PEP040 0 10.25 10.25 1.35 PEP041 34.35 66.1 31.75 2.01 including 37.2 43.75 6.55 4.62 PEP042 104.8 107.55 2.75 1.41 116.45 119.7 3.25 4.89 PEP043 No significant intersections PEP044 5.8 44.3 38.5 6.01 including 23.25 39.8 16.55 11.19 PEP045 9.5 71.8 62.3 12.76 including 35.1 48 12.9 23.19 61.7 71.8 10.1 33.39 PEP046 0 53.2 53.2 3.36 including 7.6 18 10.4 6.29 Table 1. Latest drill Intercepts, Pepas Prospect Geological ModellingAs previously announced, Company geological teams, in cooperation with an external consultant are currently engaged in a comprehensive review and reinterpretation of all drilling undertaken on the Anzá project since its inception in roughly 2012, with particular focus on the APTA and Pepas prospects as these both have near-term resource potential. The results thus far are highly encouraging, with recent insights suggesting substantively different genetic theories to that put forward by the previous owners of the ANZÁ project and the Company's previous JV partner. These concepts are being finalised now, which will lead to exploration plans being formalised to run in parallel with the ongoing resource infill program at Pepas. Holes Drilled post MMA Transaction26 holes have been drilled at Pepas since the MMA Transaction in November 2024. Assay results are tabulated below. Hole Number From (m) To (m) Interval (m) Au (g/t) PEP012 0 66.75 66.75 5.64 PEP013 0 77.30 77.30 7.68 PEP014 0 75.1 75.1 5.58 PEP015 23.5 63.7 40.2 3.75 PEP016 61.6 105.3 43.7 3.13 PEP017 56.1 96.3 40.2 2.06 PEP018 0 54.1 54.1 6.01 PEP019 0 44.3 44.3 1.63 PEP020 0 54.65 54.65 1.94 PEP021 0 107.05 107.05 6.22 PEP022 0 76.3 76.3 7.24 PEP023 0 15 15 1.7 PEP024 9.24 15.6 6.35 1.99 PEP025 0 10.1 10.1 1.45 16.5 79 62.5 5.4 PEP026 0 14.8 14.8 0.57 43.6 72 28.4 2.52 PEP027 1 80.15 79.15 2.0 PEP028 29.5 60.85 31.35 1.61 PEP029 0 30.7 30.7 0.31 PEP030 0 77.9 77.9 0.32 115.6 122.6 7 0.31 PEP031B 28.15 41.1 12.95 0.73 74.1 95.9 20.8 0.3 PEP032 0 92 92 1.68 PEP033 0 21.3 21.3 5.88 PEP034 36 95 59 10.15 PEP035 0 11.4 11.4 2.71 PEP036B 0 40.45 40.45 0.62 PEP037 0 3 3 0.65 PEP038 0 16.8 16.8 0.68 PEP039 No significant intersections PEP040 0 10.25 10.25 1.35 PEP041 34.35 66.1 31.75 2.01 PEP042 104.8 107.55 2.75 1.41 116.45 119.7 3.25 4.89 PEP043 No significant intersections PEP044 5.8 44.3 38.5 6.01 PEP045 9.5 71.8 62.3 12.76 PEP046 0 53.2 53.2 3.36 Table 2. Results to date, post MMA Transaction Orosur CEO Brad George commented:"The latest results at Pepas are exciting. Not only do we continue to expand the area of potential that will require drill follow-up, but the commencement of resource drilling has exceeded all expectations, with some of the thickest and highest grade intersections seen anywhere in the world. We have only just begun." For further information, follow on X @orosurm or please contact: Orosur Mining IncLouis Castro, Chairman,Brad George, CEOinfo@ +1 (778) 373-0100 SP Angel Corporate Finance LLP - Nomad & Joint BrokerJeff Keating / Jen Clarke / Devik MehtaTel: +44 (0) 20 3470 0470 Turner Pope Investments (TPI) Ltd - Joint BrokerAndy Thacker/James PopeTel: +44 (0)20 3657 0050 Flagstaff Communications and Investor Communications Tim ThompsonMark EdwardsFergus Mellon orosur@ Tel: +44 (0)207 129 1474 The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Drill Hole Details - Pepas prospect 2022/2024 Programme* Hole ID Easting (m) Northing (m) Elevation asl (m) Dip (°) Azimuth (°) PEP-001 403384 705000 1001 -50 150 PEP-002 403384 705000 1001 -60 290 PEP-003 403240 705142 1001 -49.60 95.2 PEP-004 403508 705671 838 -59.8 99.8 PEP-005 403373 704990 1008 -49.8 94.6 PEP-007 403374 704990 1008 -69.9 170 PEP-008 403232 704803 971 -50 60 PEP-009 403032 705057 1055 -50 80 PEP-010 403375 705106 982 -50.31 190.4 PEP-011 403573 704939 1001 -50.3 255 PEP-012 403415 704890 997 -56 352 PEP-013 403413 704887 997 -50 43 PEP-014 403400 704910 1007 -50 43 PEP-015 403375 704938 1017 -50 43 PEP-016 403326 704912 999 -50 43 PEP-017 403365 704848 976 -40 47 PEP-018 403345 704851 977 -45 43 PEP-019 403446 704890 991 -45 43 PEP-020 403446 704890 991 -75 43 PEP-021 403424 704935 1012 -62 223 PEP-022 403424 704935 1012 -42 223 PEP-023 403245 704927 969 -50 43 PEP-024 403245 704927 969 -78 43 PEP-025 403369 704888 1001 -45 43 PEP-026 403339 704955 1008 -63 50 PEP-027 403468 704909 1003 -46 228 PEP-028 403398 704957 1012 -58 223 PEP-029 403311 705018 1011 -50 50 PEP-030 403311 705018 1011 -50 000 PEP-031B 403486 704901 998 -52 220 PEP-032 403431 704861 982 -60 15 PEP-033 403431 704861 982 -65 100 PEP-034 403431 704861 982 -45 315 PEP-035 403369 704882 996 -45 223 PEP-036 403311 705152 989 -45 30 PEP-037 403354 705227 958 -50 210 PEP-038 403332 705219 967 -45 128 PEP-039 403411 704798 957 -45 73 PEP-040 403369 704882 995 -80 212 PEP-041 403373 704936 1008 -50 3 PEP-042 403396 705038 716 -50 82 PEP-043 403298 704942 981 -50 43 PEP-044 403402 704948 1011 -62 33 PEP-045 403406 704949 1011 -60 223 PEP-046 403420 704933 1007 -53 43 * Coordinates WGS84, UTM Zone 18 About Orosur Mining Mining Inc. (TSXV:OMI)(AIM:OMI) is a minerals explorer and developer currently operating in Colombia, Argentina and Nigeria. About the Anzá ProjectAnzá is a gold exploration project, comprising three exploration licences, and a large number of licence applications, totalling 399km2, in the prolific Mid-Cauca belt of Colombia. The Anzá Project is currently wholly owned by Orosur via its subsidiaries, Minera Anzá S.A. and Minera Monte Aquila S.A.S. The project is located 50km west of Medellin and is easily accessible by all-weather roads and boasts excellent infrastructure including water, power, communications and large exploration camp. Qualified Persons StatementThe information in this news release was compiled, reviewed, verified and approved by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc. and a qualified person as defined by National Instrument 43-101. Orosur Mining Inc. staff follow standard operating and quality assurance procedures to ensure that sampling techniques and sample results meet international reporting standards. Drill core is split in half over widths that vary between 0.3m and 2m, depending upon the geological domain. One half is kept on site in the Minera Anzá core storage facility, with the other sent for assay. Industry standard QAQC protocols are put in place with approximately 10% of total submitted samples being blanks, repeats or Certified Reference Materials (CRMs). Samples for holes PEP-001 to PEP-011 were sent to the Medellin preparation facility of ALS Colombia Ltd, and then to the ISO 9001 certified ALS Chemex laboratory in Lima, Peru. Samples from PEP-012 onwards are sent to Medellin laboratory of Actlabs for preparation and assay. 30 gram nominal weight samples are then subject to fire assay and AAS analysis for gold with gravimetric re-finish for overlimit assays of >5 g/t. ICP-MS Ultra-Trace level multi-element four-acid digest analyses may also undertaken for such elements as silver, copper, lead and zinc, etc. Gold intersections are reported using a lower cut-off of 0.3g/t Au over 3m. Intersections are quoted as downhole thicknesses. True thicknesses are unknown. Forward Looking Statements All statements, other than statements of historical fact, contained in this news release constitute "forward looking statements" within the meaning of applicable securities laws, including but not limited to the "safe harbour" provisions of the United States Private Securities Litigation Reform Act of 1995 and are based on expectations estimates and projections as of the date of this news release. Forward-looking statements include, without limitation, the continuing focus on the Pepas prospect, the exploration plans in Colombia and the funding of those plans, and other events or conditions that may occur in the future. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Such statements are subject to significant risks and uncertainties including, but not limited to, those described in the Section "Risks Factors" of the Company's MD&A for the year ended May 31, 2024. The Company's continuance as a going concern is dependent upon its ability to obtain adequate financing, to reach profitable levels of operations and to reach a satisfactory closure of the Creditor´s Agreement in Uruguay. These material uncertainties may cast significant doubt upon the Company's ability to realize its assets and discharge its liabilities in the normal course of business and accordingly the appropriateness of the use of accounting principles applicable to a going concern. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events and such forward-looking statements, except to the extent required by applicable law. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@ or visit SOURCE: Orosur Mining Inc View the original press release on ACCESS Newswire
Yahoo
01-07-2025
- Business
- Yahoo
Why Agnico Eagle Mines (AEM) Outpaced the Stock Market Today
In the latest trading session, Agnico Eagle Mines (AEM) closed at $118.93, marking a +2.42% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.63%, and the tech-heavy Nasdaq gained 0.48%. Heading into today, shares of the gold mining company had lost 1.58% over the past month, lagging the Basic Materials sector's gain of 2.15% and the S&P 500's gain of 4.27%. Investors will be eagerly watching for the performance of Agnico Eagle Mines in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2025. The company's upcoming EPS is projected at $1.61, signifying a 50.47% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 22.94% from the year-ago period. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.3 per share and revenue of $10.37 billion. These totals would mark changes of +48.94% and +25.18%, respectively, from last year. Investors might also notice recent changes to analyst estimates for Agnico Eagle Mines. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 4.52% higher. Agnico Eagle Mines is currently sporting a Zacks Rank of #1 (Strong Buy). Looking at valuation, Agnico Eagle Mines is presently trading at a Forward P/E ratio of 18.43. This expresses a premium compared to the average Forward P/E of 11.43 of its industry. We can additionally observe that AEM currently boasts a PEG ratio of 0.87. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. AEM's industry had an average PEG ratio of 0.55 as of yesterday's close. The Mining - Gold industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 48, positioning it in the top 20% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Globe and Mail
25-06-2025
- Business
- Globe and Mail
Best Momentum Stock to Buy for June 25th
Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, June 25th: Agnico Eagle Mines AEM: This company which is a gold producer with mining operations in Canada, Mexico and Finland, and exploration activities in Canada, Europe, Latin America and the United States, has a Zacks Rank #1(Strong Buy), and witnessed the Zacks Consensus Estimate for its current year earnings increasing 16.1% over the last 60 days. Agnico Eagle Mines' shares gained 15.4% over the last three month compared with the S&P 500's gain of 6.7%. The company possesses a Momentum Score of A. Veeva Systems VEEV: This company which offers cloud-based software applications and data solutions for the life sciences industry, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 3.6% over the last 60 days. Veeva Systems' shares gained 19.5% over the last three month compared with the S&P 500's gain of 6.7%. The company possesses a Momentum Score of A. Veeva Systems Inc. Price Veeva Systems Inc. price | Veeva Systems Inc. Quote Evercore EVR: This company which is a premier global independent investment banking advisory firm, has a Zacks Rank #1, and witnessed the Zacks Consensus Estimate for its current year earnings increasing 11.6% over the last 60 days. Evercore's shares gained 19.5% over the last three month compared with the S&P 500's gain of 6.7%. The company possesses a Momentum Score of A. See the full list of top ranked stocks here Learn more about the Momentum score and how it is calculated here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Agnico Eagle Mines Limited (AEM): Free Stock Analysis Report Evercore Inc (EVR): Free Stock Analysis Report Veeva Systems Inc. (VEEV): Free Stock Analysis Report
