Vancouver, British Columbia--(Newsfile Corp. - November 5, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the commencement of construction on the mine portal at Aion Mining Corp's La Estrella project located in Santander, Colombia.
The construction of the mine portal is proposed to begin by mid November, 2024. All necessary permitting and assessments are granted to commence the underground development. The portal will provide essential access for the extraction of high-grade metallurgical and thermal coal seams, enabling Forge to efficiently develop the underground decline and obtain potentially revenue generating a bulk sample of a minimum of 20,000 metric tonnes.
Cole McClay, CEO of Forge Resources:"We are excited to officially commence construction on the mine portal, a crucial element of our development strategy. This portal serves as the gateway to our success, and its timing aligns with our vision of transforming the project into a producing resource with the information gathered from the bulk sample.
In conjunction with this exciting development, Forge will be conducting an executive site visit on November 12-13. Forge executives will review project progress and meet with the technical team to discuss the project's potential. This visit represents an opportunity at a development milestone to gain direct insights into operations and the strategic plans.
PJ Murphy, Chairman of Forge Resources:"I am looking forward to visiting the project site and witnessing firsthand the incredible opportunities that lie ahead. Meeting with our technical team will be invaluable as we explore the potential of this project and the positive impact it can have on our future. I am eager to engage with the talented individuals driving this project forward."
The executive team will also be engaging in strategic discussions focused on identifying additional Colombian coal concessions in various stages of the permitting process. This initiative aims to evaluate opportunities for expanding the coal project portfolio in line with the Company's commitment to sustainable and responsible resource development. By assessing these concessions, Forge seeks to enhance its position in the global coal market.
About Forge Resources Corp.
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 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. The Company holds a 40% interest, with an LOI in place to acquire up to 60% 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.
Forward Looking Statements
Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.
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