Core Insights - Onyx Gold Corp. has discovered a new near-surface gold mineralization zone located 250 meters southwest of the Argus North Zone, indicating significant potential for further gold exploration and development [1][7][11] Summary by Sections Discovery and Drilling Results - The new gold zone was identified as part of the ongoing 75,000 meters diamond drill program at the Munro-Croesus Project, which is 100% owned by the company [1][7] - Drill hole MC25-213 at Argus West returned 21.2 meters grading 2.1 grams per tonne (g/t) gold, including 14.0 meters grading 3.0 g/t gold and a notable 1.0 meter grading 19.7 g/t gold with visible gold occurrences [3][6][12] - Drill hole MC25-199, located 430 meters from Argus North, intersected 14.0 meters grading 1.0 g/t gold [6][13] Geological Context - The Argus Fault, a key structural feature, is emerging as an important control on gold mineralization, with drilling indicating broad zones of gold mineralization over a total strike length of 900 meters and extending vertically from surface to approximately 400 meters [2][10][11] - The geological setting includes mafic variolitic volcanic rocks and fine-grained metasedimentary rocks, with mineralization characterized by strong albitization, silicification, and the presence of pyritic stringers [10][12] Project Overview - The Munro-Croesus Project is located in the Abitibi greenstone belt, a premier gold mining jurisdiction in Canada, covering 109 square kilometers of highly prospective geology [26][30] - The project includes the historic Croesus Gold Mine, known for yielding some of the highest-grade gold in Ontario, and has seen extensive land consolidation to enhance exploration potential [26][30] Future Exploration Plans - The company plans to continue systematic step-out drilling along the Argus Fault to evaluate the size of the new gold zone and the broader Argus trend, with three rigs currently active [7][16] - Ongoing drilling efforts are focused on defining the extent of mineralization and exploring additional targets within the project area [7][16]
Onyx Gold Discovers New Gold Zone 250 meters from Argus North