Announcement • Aug 07

Targa Exploration Corp. Announces Plans for Drill Campaign At Opinaca Gold Discovery

Targa Exploration Corp. announced its plans for a summer drill campaign on its Opinaca gold project located in the James Bay region of Quebec ("Opinaca"). The program, consisting of up to 5,000m in 12-15 holes, each 350-400m in length, has been designed to test the along-strike continuity of broad zones of gold mineralization discovered during the maiden 2025 drill program (see January 21, 2026 news release), which initially targeted bedrock below a large gold-in-soil and HMC (heavy mineral concentrate) gold grain anomaly measuring over 7km in length. The presence of bedrock gold mineralization intersected in the 2025 program across a strike length of 4km is testament to the efficacy of soil and HMC sampling at Opinaca, in conjunction with high resolution airborne magnetics, to prioritize drill targets. The project is located immediately south of the boundary between the Opinaca and LaGrande geological subprovinces. This subprovince boundary represents an important first order structure for regional gold endowment as evidenced by the location of the Eleanore gold mine, Cheechoo, Sakami and Eastmain gold deposits. Until the discovery of the Eleanore deposit in the early 2000's by Virgina Gold, the region was largely overlooked for its gold potential due in large part to the perception that metamorphosed metasedimentary terranes were less prospective gold environments. With the discovery and development at Eleanore, recent exploration in the region has resulted in several gold discoveries, Targa's Opinaca project being the latest. Gold mineralization encountered to date at Opinaca is hosted in metamorphosed greywacke and cross-cutting tonalite and to a lesser extent pegmatitic and mafic dykes, and often displays a strong correlation with arsenic and tungsten, which is evident in both drill core and soil geochemistry. Drilled intersections from the 2025 program include both narrow high-grade gold, including 13.88g/t Au over 3.65m in hole 25OPDD007, and broad zones of low-grade mineralization (0.17g/t Au over 70.55m in 25OPDD004) intersected over a 4km long trend.Drill holes for the 2026 program will target up-ice till anomalies coincident with interpreted magnetic structures believed to control bedrock gold mineralization (Figures 2, 3). Seven holes (2,900m) are being prioritized in the Western target across 5km of the targeted trend with the goal of extending the known mineralization along strike. In the Eastern target, which has never been drilled, two holes (800m) are being prioritized with the goal of discovering a bedrock source to the pronounced soil anomaly. A single HMC sample collected here in 2024 returned 98 gold grains (normalized to sample weight), of which over 95% were pristine in shape, suggesting a proximal bedrock source. A further 1,300m of drilling for the 2026 summer program is being reserved for follow-up of the most promising intersections.Kenorland Minerals will act as project operator on the drill program, as it has for the previous three successful exploration seasons at Opinaca, and brings a wealth of operational and technical experience in the region. Drilling is expected to start in the second half of August once the geological team and drill crews are in place and is expected to take 4-5 weeks to complete with drill assays anticipated in the fall.

Targa Exploration Corp. Stock Price

TEX Share Price Performance

TEX Community Narratives

Trending Discussion

Recently Updated Narratives

Snowflake Analysis

Targa Exploration Corp. Key Details

About TEX

Recent TEX News & Updates

Targa Exploration Corp. Commences Drill Program At Opinaca Gold Project in Quebec

Targa Exploration Corp. announced that it expects to receive CAD 3.5 million in funding

Targa Exploration Corp. Announces Plans for Drill Campaign At Opinaca Gold Discovery

Recent updates

Targa Exploration Corp. Competitors

Culico Metals

South Star Battery Metals

Pelangio Exploration

Highway 50 Gold