Core Insights - Onyx Gold Corp. announced significant assay results from its Munro-Croesus Project, highlighting a new zone of strong gold mineralization at the Argus Zone, with notable intersections including 1.87 g/t gold over 48.1 meters, 7.14 g/t gold over 4.5 meters, and 4.05 g/t gold over 10.0 meters [1][3][4] Company Overview - Onyx Gold Corp. is focused on exploration in established Canadian mining jurisdictions, particularly in Timmins, Ontario, where it holds the Munro-Croesus Gold Project, known for its high-grade mineralization [17] - The company has consolidated significant land positions in the region, enhancing its exploration potential [14][17] Project Details - The Munro-Croesus Project covers 104 km² and is located in the Abitibi greenstone belt, a premier gold mining area in Canada [14][15] - The project includes the past-producing Croesus Gold Mine, which is historically known for high-grade gold production [14][16] Drilling Campaign Results - The 2024 drilling program included 25 holes totaling 3,280.5 meters, with five holes specifically targeting the Argus Zone [13] - Drill hole MC24-163 yielded the best intersection to date at the Argus Zone, indicating a new high-grade mineralization zone that remains open in all directions [5][6] Geological Context - The mineralization profile of drill hole MC24-163 is comparable to discovery holes of major Canadian gold deposits, suggesting significant exploration upside [4] - The Argus Zone is associated with a large footprint of bulk-tonnage gold mineralization and is influenced by the regional Pipestone fault, a known control for gold mineralization [4][5] Future Plans - The company is conducting further geological mapping and sampling in the area of the new intersection and plans to return for additional drilling in Q4-2024 [10][8] - Onyx Gold is also evaluating new prospects on recently acquired claims to prioritize future drill targets [10]
Onyx Gold Intersects 1.87 g/t Gold Over 48.1 Meters at the Argus Zone, Munro-Croesus Project, Timmins, Ontario