Announcement • Jul 16
Onyx Gold Reports Results from 17 Drill Holes At Munro-Croesus Project
Onyx Gold Corp. reported results from 17 drill holes at its 100%-owned Munro-Croesus Project, located 75 km east of Timmins, Ontario. The results extend gold mineralization at both Argus North and Argus Main and identify a new area of mineralization 250 m northeast of Argus Main along the projected Argus Fault corridor. The most significant result is from Argus North, where hole MC26-274A returned 3.5 g/t gold over 28.1 meters, including 5.3 g/t gold over 17.8 meters. Drilling has now intersected Argus North from near surface to more than 700 m vertical depth, and the zone remains open at depth and along strike. At Argus Main, three deeper holes continued to intersect broad gold mineralization, including 1.0 g/t gold over 93.0 meters in hole MC26-324. Approximately 250 m to the northeast, first-pass drilling intersected 2.6 g/t gold over 7.3 meters in a previously undrilled area. Argus North continues at depth: the zone has now been intersected to more than 700 m vertically and remains open. MC26-274A: 3.5 g/t gold over 28.1 meters, including 5.3 g/t gold over 17.8 meters, including 23.1 g/t gold over 1.0 meter and 11.4 g/t gold over 2.0 meters. MC26-271: 3.5 g/t gold over 19.0 meters, including 8.3 g/t gold over 6.6 meters, including 24.3 g/t gold over 1.0 meter. Argus Main is developing as a broad mineralized system: all three holes reported from the current step-out program returned multiple gold intervals, including higher-grade sections within wider envelopes. MC26-324: 1.0 g/t gold over 93.0 meters, including 2.0 g/t gold over 20.0 meters, including 9.8 g/t gold over 1.0 meter; plus a separate interval of 0.9 g/t gold over 33.0 meters, including 3.0 g/t gold over 6.0 meters. The hole finished in strong mineralization, returning up to 19.3 g/t gold over 0.7 meter in the final four meters and ending in 1.4 g/t gold over the last meter. MC26-317: 0.8 g/t gold over 98.9 meters, including 1.1 g/t gold over 35.8 meters and 2.7 g/t gold over 5.9 meters. The Argus trend is expanding: first-pass drilling 250 m northeast of Argus Main within massive and pillowed mafic flows has intersected gold along the projected Argus Fault corridor. MC26-316: 2.6 g/t gold over 7.3 meters; including 8.8 g/t gold over 1.5 meters. MC26-314: 1.3 g/t gold over 5.7 meters; including 2.2 g/t gold over 3.0 meters. Nine holes tested the west-northwest down-plunge extension of Argus North between approximately 350 and 716 m vertical depth. Hole MC26-298A is the deepest intersection reported to date and confirms that the mineralized system remains present more than 700 m below surface. Significant Intervals from Argus North: 1.1 g/t gold over 29.0 meters, in drill hole MC26-268, including 3.1 g/t gold over 6.0 meters. 3.5 g/t gold over 19.0 meters, in drill hole MC26-271, including 8.3 g/t gold over 6.6 meters, including 24.3 g/t gold over 1.0 meter. 3.5 g/t gold over 28.1 meters, in drill hole MC26-274A, including 5.3 g/t gold over 17.8 meters, including 23.1 g/t gold over 1.0 meter, and including 11.4 g/t gold over 2.0 meters. 2.9 g/t gold over 4.0 meters, in drill hole MC26-293A, including 8.1 g/t gold over 1.1 meters. 1.2 g/t gold over 5.0 meters, in drill hole MC26-298A (716 m vertical depth), including 2.2 g/t gold over 2.2 meters. Drilling continues to focus on extending the zone down plunge to the west-northwest with one drill rig. Three holes stepped progressively deeper below previously reported Argus Main drilling. Each hole intersected multiple gold-bearing intervals, including broad zones approaching 100 m in drilled width and narrower higher-grade sections. Significant Intervals from Argus Main: 1.0 g/t gold over 93.0 meters, in drill hole MC26-324, including 2.0 g/t gold over 20.0 meters, including 9.8 g/t gold over 1.0 meter, and 0.9 g/t gold over 33.0 meters, including 3.0 g/t gold over 6.0 meters, including 19.3 g/t gold over 0.7 meter. 0.8 g/t gold over 98.9 meters, in drill hole MC26-317 (60m south-south-west of MC26-267), including 1.1 g/t gold over 35.8 meters, including 2.7 g/t gold over 5.9 meters. 0.8 g/t gold over 59.9 meters, in drill hole MC26-311 (110m south-southwest of MC26-267), including 3.3 g/t gold over 10.3 meters, including 14.2 g/t gold over 0.9 meter, and 1.9 g/t gold over 11.6 meters, including 2.5 g/t gold over 6.8 meters, and 0.8 g/t gold over 30.3 meters, including 2.9 g/t gold over 5.0 meters. The Argus Main zone has been defined to surface where high-grade surface channel and grab samples grade between 5.2 g/t gold and 14.7 g/t gold, and to approximately 400 m vertical depth. The style of alteration and mineralization at Argus Main is analogous to Argus North with moderate to strong albite-carb-silica, fracturing with local development of crackle breccia, hosted within mafic variolitic to pillowed volcanics, with 1-3% fine pyrite. The Argus Main zone remains open along strike and at depth and one drill rig is currently dedicated to systematic expansion drilling along strike, and up and down the plunge of the zone.
