공지 • Jul 07
ONGold Resources Ltd. Initiates Summer Exploration Activities At Its Monument Bay Gold and Tungsten Project
ONGold Resources Ltd. announced that the Company has initiated summer exploration activities at its Monument Bay Gold and Tungsten Project ("Monument Bay"). Summer exploration activities are focused on both existing resource optimization as well as advanced ground geophysical Induced Polarization (" IP") surveying. Monument Bay is an advanced stage exploration asset with over 233,000 meters drilled in more than 800 diamond core holes, while still having substantial exploration upside both within the known deposits and along underexplored satellite zones. Undertake a fixed-wing Lidar/Orthophotography Survey to assist with regional exploration targeting and improve the structural understanding and interpretation of gold mineralization control features that might occur along all known regional deformation zones that transect the property. The Lidar should assist in identifying new targets along these important structures to focus future field exploration activity and possible drill program. These data can be used to update the geological map of the property and identify other fault and fold structures across the property. The Technical Report describes the historical exploration work completed at the Monument Bay Gold Tungsten project, particularly in the period from 1987 to 2021, including geological mapping and prospecting, trenching, geochemical sampling, airborne magnetometer and VTEM surveying, local ground induced polarization and magnetometer surveys, local humus, B-horizon soil and biogeochemical surveys. A total of 233,410m of diamond drilling has been completed in 818 holes, mostly focused on the Monument Bay Au-W Deposit. In addition, 120 reverse circulation holes were completed between 2019 and 2021 on a very wide (1.5km X 1.5km) spacing across the property. The author and the Company are not treating the historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimate, a qualified person needs to review the historical data, review any work completed at Monument Bay since the date of the historical estimate and complete a new mineral resource estimate. The author of the Technical Report and the Company view this historical estimate as a conceptual indication of the potential size and grade of the gold-tungsten deposit in the area, and this information is relevant to ongoing exploration efforts. New Gold Exploration Targets Identification. The compilation and new interpretive work completed by ONGold in First Quarter 2025 resulted in the identification of five (5) target areas, detailed below, for field exploration investigations with the goal of defining new targets for drilling. These zones are denoted and prioritized as follows: 1. Often, but not always, forward looking information can be identified by words such as "could, "pro forma", "plans", "ex expects", "will", "ex expects", "may", "will", "budget", "scheduled", "est estimates", "forecasts", "intends", "anticipates", "bel believes", "pot potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, would, would, would, or will occur or be taken or achieved. The forward-looking statements contained herein include, but are not limited to, statements regarding: the performance of the Monument Bay project, the Company's plans relating to the Monument Bay project, and results of the Company's mineral exploration activities on the Monument Bay project (including, without limitation, its mineral resources, current claims and its ability to utilize global gold needs); and the performance of gold as a commodity, including the sustained gold demand and prices. In making the forward looking statements in this news release, ONGold has applied several material assumptions, including without limitation: market fundamentals, the Company's SEDAR+ profile on June 13, 2025 (the "Technical Report") references historical estimates of 2.3 million gold ounces (58.0 million tonnes at an average grade of 1.24 g/t) in the "Measured" and "Indicated" Mineral Resources categories, and 720,000 gold ounces (24.4 million tonnes at an average grade the "Inferred" Mineral Resources category.