Formation Metals’ flagship is the N2 gold project, an Archean orogenic gold system located approximately 25 km south of Matagami in Quebec’s Abitibi Greenstone Belt, sitting along the Casa Berardi Deformation Zone and about a kilometre east of the historic Vezza gold mine. The company also holds the Nicobat nickel-copper-cobalt-PGM project in Ontario and the Rio titanium project in Quebec, both currently on the back burner. The conversation focused mainly on the active 75,000 metre drill program at N2, the maiden NI 43-101 resource estimate planned for Q3 2026, the recent financing, and Varshney’s stated strategy to sell the project within two to three years.
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