Vancouver, British Columbia--(Newsfile Corp. - November 27, 2024) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company") is pleased to announce the overview of the design plans (Figure 1) for the construction of a mine portal at the La Estrella Coal Project, located in Santander, Colombia. The new mine portal will be a critical development milestone for the project, providing essential infrastructure to support the future decline ramp and soil stability necessary for advancing underground bulk sampling mining exploration.
The La Estrella Project, which holds significant coal deposit, represents a key asset in Forge Resources' growth strategy in Colombia. As previously announced on November 20, 2024, Forge has started construction of the mine portal, which is anticipated to facilitate safe and efficient access to deeper coal seams, enabling further exploration, development, and extraction activities.
Forge Resources continues to work closely with local stakeholders and regulatory authorities to ensure that all development activities are conducted in full compliance with Colombian regulations and best practices.
Key Highlights of the Mine Portal Design Plans:
- Underground Access: The portal will provide the initial access point for the construction of the decline ramp, which is necessary for the progression of the underground mining operations at La Estrella.
- Soil Support Infrastructure: The design includes specialized soil support systems that will ensure stability for the portal and the decline development, prioritizing safety and operational efficiency.
- Environmental and Safety Considerations: Forge is committed to adhering to the highest environmental and safety standards in all aspects of the portal construction, ensuring minimal impact on the surrounding areas and the health and safety of the workforce.
- Timeline and Next Steps: As previously announced on November 20, 2024, Forge has commenced construction of the mine portal, with the initial stage of decline development slated to begin shortly thereafter.
Figure 1. Portal Design Overview
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Figure 2. Revised Site Plan
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Cole McClay, CEO of Forge Resources Corp states: "We are excited to move forward with this important step in the development of the La Estrella Coal Project. The construction of the mine portal is an integral part of our plans to unlock the full potential of this project. We are committed to responsible development and look forward to advancing the project while maintaining our focus on safety, sustainability, and operational excellence."
Qualified Person
Lorne Warner, P.Geo, and President of Forge Resources Corp. is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.
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.
On behalf of the Board of Directors
"Cole McClay", CEO Forge Resources Corp.
info@forgeresourcescorp.com
604-271-0826
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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