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Onyx Gold Mobilizes Drill Rig and Outlines Targets for 10,000-Meter Timmins Spring Drill Program
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OT...
About this update from Onyx Gold Corp.
[{"type":"text","content":"Onyx Gold Mobilizes Drill Rig and Outlines Targets for 10,000-Meter Timmins Spring Drill ProgramVancouver, British Columbia--(Newsfile Corp. - May 9, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) (\"Onyx Gold\" or the \"Company\") is pleased to announce plans for a 10,000-meter Spring Drill Program (the \"Program\") at its Timmins, Ontario properties. The primary focus of the program is to follow-up on the recently reported Argus North discovery (\"Argus North\"), at the Company's 100% owned Munro-Croesus Project (\"Munro-Croesus\") located 75 km east of Timmins, Ontario (Figure 1). To date, this new zone of wide high-grade mineralization has been tested by a single drill hole, MC24-163, which intersected 3.4 g/t Au over 69.6 m, including a high-grade subzone of 13.9 g/t Au over 9.5 m (see news release dated April 10, 2025). \"The initial results from Argus North point to a potentially significant new zone of high-grade gold mineralization in a proven district,\" said Brock Colterjohn, President & CEO. \"Mineralization at Argus North is open in all directions and our upcoming drill program is designed to rapidly evaluate and expand upon this discovery. A drill rig has just been delivered to site and we are excited to be kicking off the follow-up drill program. Upon close of the recently announced and upsized $11 million financing, the Company will have considerable flexibility to expand the size of the drill program to follow-up on further success with the drill bit.\" Discussion of Planned 10,000-meter Spring Drill ProgramImmediate follow-up plans include an initial Phase 1 program of step-out drilling to extend the Argus North mineralization up-dip to surface, down-dip to depth and along strike to both the east and west. Plans include re-entering and extending drill hole MC23-163 to assess the full breadth of the Argus North mineralizing system and drill holes MC23-140 and MC24-164, both of which stopped short of the down-dip projection of the Argus North Zone. Phase 1 follow-up drilling is designed on nominal 50-meter spaced step-outs with the objective of expanding the new discovery while concurrently gaining a better understanding on the zone's orientation, shape and geological controls. Drilling will start on the same cross-section as discovery drillhole MC24-163, followed by fences of similarly spaced holes on c...