Core Insights - Onyx Gold Corp. has reported significant gold mineralization at its Argus North Zone, with channel samples showing grades up to 5.0 g/t Au over 4.0 m and drill results indicating potential for a near-surface, road-accessible gold discovery [1][2][6] Group 1: Exploration Results - The ongoing 25,000 metre drill program at the Munro-Croesus Project has revealed a significant zone of gold mineralization right at the surface, located just 2 km off Highway 101 [2][4] - Recent drill holes have shown promising results, including 60.8 m grading 1.2 g/t Au in MC25-200 and 37.8 m grading 1.8 g/t Au in MC25-202, with notable high-grade intervals [5][8] - The Argus North Zone has demonstrated excellent vertical continuity of mineralization, traced from surface to over 350 meters depth, with the system remaining open along strike and down-dip [9][10] Group 2: Financial Position and Future Plans - Onyx Gold has recently closed a $20 million bought-deal financing and is set to close an additional $6.4 million non-brokered financing, positioning the company well for continued exploration through 2026 [6][27] - The company has completed 64 drill holes, with assays announced for 18 holes to date, completing approximately 20,000 m (80%) of the expanded drill program [12][26] Group 3: Geological Context - The Munro-Croesus Project is located in the Abitibi greenstone belt, a premier gold mining jurisdiction in Canada, covering 109 km² of highly prospective geology [26][27] - The project includes the past-producing Croesus Gold Mine, known for yielding some of the highest-grade gold in Ontario, enhancing its exploration potential [25][26]
Onyx Gold Defines Gold Mineralization Right at Surface at Argus North