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Formation Metals Rides Gold’s Surge with Drill Permitting Now Underway
WSR Gold Outlook: As gold continues to break all-time highs, mining companies like Formation Metals are positioning themselves to ride the wave. With permitting underway for a fully funded 5,000-metre drill program, the company is targeting big upside in one of Canada’s most proven gold belts.
Gold just did what few assets ever manage—it quietly broke out to all-time highs AGAIN. While retail investors are still chasing tech stocks, the smart money is already rotating into gold and gold equities, betting that this cycle is far from over.
In the middle of this momentum shift sits a little-known junior that’s been making strategic moves of its own: Formation Metals Inc. (CSE: FOMO).
This week, the company announced it has officially begun permitting for a fully funded, 5,000-metre diamond drill program at its flagship N2 Gold Property in Quebec. And while many early-stage companies are still scrambling for capital, Formation is already financed and ready to execute.
A Historic Gold Resource—Now It’s Time to Expand
The N2 Property isn’t just prospective—it already hosts a historical resource of 877,000 ounces of gold. That alone gives Formation a head start in today’s market, where investors are increasingly focusing on companies with ounces in the ground.
But the real opportunity lies ahead.
Formation’s upcoming drill program aims to target extensions of known zones and new high-priority geophysical targets, the kind that—if hit—could dramatically reshape the project’s scale and market perception. With gold prices now trading near $2,400/oz, even marginal discoveries have become much more valuable.
The Gold Market Has Changed—And the Numbers Prove It
While many investors are still focused on rate cuts and tech earnings, gold has quietly crushed everything else in 2025.
In just over three months, gold has surged over 30% year-to-date, while the S&P 500 has dropped nearly 10%. That’s a +40% performance gap—and it’s not going unnoticed by institutions or retail capital.
Central banks are still buying. Real yields remain under pressure. And geopolitical instability—from Eastern Europe to the South China Sea—is keeping gold firmly in the spotlight.
In this kind of macro environment, well-structured juniors like Formation Metals aren’t just “speculative plays”—they’re potentially leveraged exposure to one of the few trends showing real strength.
Watch the CEO Break It Down
In a recent Radius Research interview, Formation CEO Deepak Varshney walks through the company’s vision for the N2 project, why the upcoming drill program could unlock significant value, and how Formation plans to differentiate itself in a rising gold market.
Watch the full video below
Location, Timing, and Capital: The Trifecta
Formation’s N2 Property is located in the heart of the Abitibi Greenstone Belt, home to over 200 million ounces of historical production. The region is not only geologically prolific—it’s also infrastructure-rich, politically stable, and home to multiple majors.
Combine that with the company’s fully funded status and a clear exploration roadmap, and you’ve got one of the rare juniors ready to act—while others are still pitching their story.
WSN Take
The gold bull market is no longer theoretical—it’s here.
And while big-cap producers may move first, it’s the juniors that often deliver that 10x upside when the market is in full swing.
Formation Metals is still flying under the radar, but it checks a lot of boxes investors should care about right now:
- Historical ounces already in the ground
- Fully funded drill campaign with permitting now underway
- Located in one of the most proven gold belts in the world
- Led by a team moving with urgency, not just intention
If the upcoming 5,000-metre program delivers, Formation could rapidly move from a quiet explorer to a front-runner in Canada’s next gold wave.
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