ONGold Initiates Infill Sampling Program to Recover Missing Tungsten and Gold Assays at Monument Bay for Enhanced Resource Modeling and Development

Core Insights - ONGold Resources Ltd. has initiated an infill sampling program at the Monument Bay deposit to recover previously unassayed tungsten and gold intervals, which could significantly enhance future resource estimates [2][4][8] - The current market price for tungsten oxide is reported at US$42,313 per metric tonne, indicating a rising global demand for tungsten [2][22] - Historical drilling has shown significant gold-tungsten intercepts, with many gold assays not previously analyzed for tungsten, highlighting the potential for resource expansion [5][21] Company Developments - The infill sampling program aims to analyze over 13,400 preserved sample pulps for tungsten, which are located within the modeled gold domain of Monument Bay [4][8] - CEO Kyle Stanfield emphasized the importance of this initiative in unlocking the full potential of the Monument Bay deposit, positioning it as a multi-commodity asset [8] - Historical data indicates that previous operators only assayed 10% of the split core for tungsten, suggesting substantial untapped resource potential [2][4] Industry Context - Tungsten is classified as a "High-Demand Critical Mineral" due to its unique properties and applications in various industries, including aerospace and medical [3] - North America currently lacks active primary tungsten mining operations, with China dominating over 80% of global production [22] - The Sisson Tungsten-Molybdenum Project in New Brunswick is one of the most advanced tungsten exploration initiatives in Canada, indicating a growing interest in tungsten resources [23]