Black Pine drilling

A second phase of drilling at the Black Pine property of Formation Capital (VSE) has extended the known strike length of possibly connected mineralized zones to more than 4,000 ft., compared with the previous known strike length of 1,700 ft.

The property, near Salmon, Idaho, hosts what Formation believes is a large stratabound copper-gold-cobalt exhalative massive sulphide system. The company is in the middle of a second-phase, 10,000-ft. program and expects to calculate a resource estimate on its completion.

The project is being considered for its potential as a bulk-tonnage, open pit and, alternatively, as an underground operation.

Drilling is continuing, with recent results as follows:

Hole Zone Interval Width Copper Gold Silver Cobalt

(ft.) (ft.) (%) (oz./ton) (oz./ton) (%)

BP-3 Trench zone 8854-184 130 0.64 0.008 pending pending

BP-4 Trench zone .81.4-170 88.6 1.22 0.005 0.21 trace

BP-5 Trench zone 8845-185 140 0.32 0.003 pending pending

BP-13 Swift West 230.3-250 19.7 0.85 trace trace trace

BP-14B Swift West 8830-120 90 0.99 0.008 0.28 0.004

BP-16 Swift West 8860-205 145 0.06 0.004 0.01 0.036

BP-31 Swift West 8894-261 167 0.32 0.005 0.04 0.011

BP-33 Jacobs 8.8102-258.5 156.5 0.32 0.005 0.03 0.005

BP-35 Swift West 88105.9-263.0 157.1 0.26 0.002 0.05 0.006

BP-37 Swift East 8877.2-138.7 61.5 0.01 0.007 trace 0.029

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