Core Viewpoint - Onyx Gold Corp. is expanding its land holdings in the Munro-Croesus Project through strategic acquisitions, enhancing its position as a leading gold explorer in the Timmins Camp [1][2][3]. Group 1: Strategic Acquisitions - The company has signed purchase agreements to acquire a 100% interest in the Munro Property (227 hectares) and the Hewitt Property, increasing the total project land holdings to 10,921 hectares (109 km²) [1][2][4]. - The Munro Property is strategically located within the Munro-Croesus Project and covers the northwestern extension of the Croesus Flow, which is known for hosting the historic high-grade Croesus Mine [4][5]. - The acquisition of the Hewitt Property includes gold-bearing mineralization with grab samples yielding up to 15.7 g/t Au [6][7]. Group 2: Financial Terms - The total consideration for the Munro Property is $300,000, payable in two staged cash payments over 12 months, subject to satisfactory due diligence [5]. - For the Hewitt Property, the company will pay $20,000 and issue 75,000 common shares, along with a 1.0% net smelter returns royalty to the vendor [7]. Group 3: Future Exploration Plans - The acquisitions are expected to unlock additional high-impact drill targets for future exploration, particularly along the Croesus Flow [3][4]. - The Munro-Croesus Project is located in a highly prospective geological area, with significant nearby bulk-tonnage gold deposits [16]. Group 4: Company Overview - Onyx Gold is focused on exploration in well-established Canadian mining jurisdictions, with a portfolio that includes the Munro-Croesus Gold property and other exploration properties in Timmins and Yukon Territory [17][18].
Onyx Gold Continues to Consolidate Key Ground at Munro-Croesus with Strategic Acquisitions