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Onyx Gold Reports Second Drill Turning at the Munro-Croesus Project; Welcomes Gold Fields as a Strategic Investor
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Onyx Gold Corp. (TSXV: ONYX) (...
About this update from Onyx Gold Corp.
[{"type":"text","content":"Onyx Gold Reports Second Drill Turning at the Munro-Croesus Project; Welcomes Gold Fields as a Strategic InvestorVancouver, British Columbia--(Newsfile Corp. - June 12, 2025) - Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) (\"Onyx Gold\" or the \"Company\") is pleased provide an update on its ongoing exploration efforts at its 100%-owned Munro-Croesus Project (\"Munro-Croesus\" or the \"Project\"), located 75 km east of Timmins, Ontario (Figure 1).Following strong momentum from the early 2025 drill campaign, Onyx Gold has added a second drill rig in May to accelerate its fully funded ~10,000-metre Phase 1 drill program. This expanded effort is part of the Company's broader exploration strategy, which includes advancing the Argus North discovery and testing several high-priority regional targets across the Project. The Argus North zone returned a standout intercept of 3.4 g/t gold over 69.6 metres, including 13.9 g/t gold over 9.5 metres (see news release dated April 10, 2025). Current drilling is aimed at further delineating this mineralized zone, with step-outs testing extensions up-dip, down-dip, and along strike.In parallel, the Company is pleased to report that, following the closing of its recent private placement (see news release dated June 6, 2025), Windfall Mining Group Inc. (a subsidiary of Gold Fields Limited) (\"Gold Fields\") now holds approximately 9.4% of Onyx Gold's issued and outstanding shares.\"We're thrilled to welcome Gold Fields—one of the world's premier gold producers—as a new shareholder,\" said Brock Colterjohn, President & CEO of Onyx Gold. \"Their investment is a further endorsement of our projects, our team, and our long-term vision in this prolific gold camp. With a second rig now turning, we're accelerating drilling at Argus North—our top-priority target—while also advancing the broader potential of the Munro-Croesus property, which hosts over 8 km of highly prospective strike along the Pipestone Fault. Our focus remains on driving meaningful discoveries through the drill bit and creating long-term value for shareholders.\"Update on 2025 Spring Drill Program on Munro-Croesus ProjectThe Phase 1 drill program at Munro-Croesus includes two active rigs, with approximately 3,500 metres completed across eleven holes to date. Drilling at Argus North is focused on 25-50 m...