Core Insights - Onyx Gold Corp. announced high-grade drill results from the Munro-Croesus Project, with a significant intersection of 3.4 g/t gold over 69.6 meters, including high-grade subintervals of 13.9 g/t gold over 9.5 meters and 38.5 g/t gold over 3.0 meters [1][2][3] - The company has signed an option agreement to acquire a 21-hectare property adjacent to the Argus North discovery, enhancing its land position and exploration potential [1][11][12] Drill Results - Drill hole MC24-163 intersected a continuous zone of strong gold mineralization, improving upon a previous intersection of 1.9 g/t gold over 48.1 meters [2][5] - The new results indicate a broad mineralized interval within altered mafic volcanics, with visible gold observed in a quartz veinlet [6][5] - The mineralization remains open in all directions, suggesting substantial potential for further expansion [2][5] Option Agreement - The option agreement allows Onyx Gold to acquire a 100% interest in the strategically located property for a total of C$1,515,000 and 3,300,000 shares over three years [11][13] - The property has never been drilled or systematically explored, highlighting its untapped potential [12][11] Future Exploration Plans - Immediate follow-up plans include step-out drilling to extend the new zone to surface and down-dip to trace high-grade zones [9][10] - The company intends to present its near-term exploration plans for its Timmins properties in the coming weeks [10] Project Overview - The Munro-Croesus Project is located in the Abitibi greenstone belt, a premier gold mining jurisdiction in Canada, covering 108 km² of highly prospective geology [25][26] - The project includes the past-producing Croesus Gold Mine, known for high-grade gold production [25][29]
Onyx Gold Intersects 3.4 g/t Gold Over 69.6 Meters Including 5.4 g/t Gold over 34.5 Meters at Munro-Croesus Project and Announces Option Agreement