Forge Resources (CSE:FRG) has announced the completion of the first two drill holes planned for 2024 at its Alotta project in the Yukon Territory of Canada. Both holes, ALT-24-001 and ALT-24-002, have shown porphyry style mineralization, according to the company.

Lorne Warner, President, and P.Geo for Forge Resources Corp. comments: “Every drillhole completed is bringing us closer to understanding the controls to the mineralization at Alotta. We have now started drilling at the untested Severance Zone which has extensive and highly anomalous multi-element soil geochemistry. The three proposed holes will test across entire anomalous soil geochemistry in the central area of the Alotta Zones.”

The Phase 1 drilling program is reportedly on schedule, with ALT-24-001 and ALT-24-002 completed to depths of 402 and 501 metres, respectively. The company has now commenced drilling hole ALT-24-003, which is testing the Severance Zone.

ALT-24-001, drilled at an azimuth of 135 degrees with a -50 degree dip, is the first hole to test the Payoff Zone, where rock samples with up to 8.7 g/t gold were collected over a 200 x 300 m area. The company reports that this hole appears to have a higher concentration of pyrite stringers compared to two holes drilled in November 2023, which confirmed the porphyry style nature of mineralization at the project.

ALT-24-002, drilled at an azimuth of 230 degrees with a -60 degree dip, was designed to test possible west-northwest trending structures related to mineralization. Porphyry style mineralization was again encountered, with alteration and associated disseminated and fracture-controlled sulphide mineralization increasing with depth.

The Alotta property consists of 96 mineral claims covering approximately 1,926 hectares, located 50 km south-east of Western Copper and Gold’s Casino deposit. The Casino deposit is considered one of the most economic, greenfield copper-gold mining projects in the world and is ranked as one of the top ten largest, undeveloped, copper-gold porphyry deposits globally.

Western Copper and Gold recently completed a bought deal public offering with gross proceeds of $46 million and a further $5 million financing with Rio Tinto.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project in the Yukon Territory. The company also holds a 40% interest in Aion Mining Corp., which is developing the fully permitted La Estrella coal project in Santander, Colombia, containing eight known seams of metallurgical and thermal coal.