Business
ONGold Advances Geological and Structural Understanding of the Monument Bay Gold & Tungsten Deposit
Toronto, Ontario--(Newsfile Corp. - March 2, 2026) - ONGold Resources Ltd. (TSXV: ONAU) (OTC...
About this update from Ongold Resources Ltd
[{"type":"text","content":"ONGold Advances Geological and Structural Understanding of the Monument Bay Gold & Tungsten DepositToronto, Ontario--(Newsfile Corp. - March 2, 2026) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) (the \"Company\" or \"ONGold\") is pleased to provide an update on the key outcomes of the Monument Bay gold and tungsten project geological and structural review undertaken as part of the historical core re-logging and infill sampling program initiated during the summer of 2025. The field program was recently concluded, resulting in the completion of the strategic re-logging of 83 historical drill holes totaling 11,400 metres (m) of core on 19 drill sections (Figure 1). The Company also today announced that Rodney Barber, President of ONGold, will be leaving the company effective March 31, 2026. The company thanks Mr. Barber for his contributions and wishes him well in his future endeavors. Paul Dunbar, ONGold's Vice President of Exploration, will assume remaining geological planning duties.The Monument Bay deposit has been historically drill tested by 615 holes totaling 172,147 m over a strike length of 4.2 kilometers. Importantly, the deposit remains open at depth and is largely untested by drilling below a vertical depth of 300 meters from surface, presenting significant potential for resource expansion through deeper exploration and future drill testing. The updated geological interpretation confirms that a significant portion of the deposit's vertical extent remains unconstrained, representing meaningful upside to the existing historical resource base. The core re-logging and infill sampling program was designed to strengthen the geological understanding of both the structural and geological controls for gold and tungsten mineralization across the entire 4.2 km strike length of the deposit thereby supporting a new mineral resource estimate to be completed by SRK Consulting (Canada) in 2026.Highlights:High Grade Gold Intercepts Identified: The highest-grade gold intercepts occur in the eastern portion of the deposit near surface, where the felsic sill thins but strong mineralization and alteration continue along the Twin Lakes Shear Zone (\"TLSZ\"); Drill Section 506350E, hole TL16-575 returned 6.15 g/t Au over a core length of 132m (Figure 2).Gold Grade Continuity Confirmed: Relogging has verified consistent gold grade ...