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Opus One Gold Carries Out a Detailed Mag Survey Over Its Gold Discovery Near Matagami and Invites to Its Annual Meeting
MONTREAL, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Opus One Gold Corp. Inc. (OOR: TSXV) (“Opus One Gold” or the “Company”), a mining exploration company focused on exp
About this update from Opus One Gold Corporation
[{"type":"text","content":" MONTREAL, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Opus One Gold Corp. Inc. (OOR: TSXV) (“Opus One Gold” or the “Company”), a mining exploration company focused on exploring for high quality gold and base metal assets in accessible areas is pleased to announce the next phase of exploration on the recent gold discovery on its Noyell Gold project, located 25 km south of the town of Matagami, Abitibi, Quebec. The discovery area is located within an under-explored portion of the Casa-Berardi-Douay-Cameron deformation zone which hosts the Casa Berardi gold mine (actual gold producer) and the Vezza Gold Mine (past producer). The Noyell property is located 10 km to the east of the Vezza gold Mine, in the same geological environment. After approximately 5,000 m of drilling performed on the discovery in 2020 and 2021, the technical staff at Opus One Gold was able to identify a narrow unit of magnetic Banded Iron Formation (BIF) directly related with the gold mineralization. This 2-4 m thick BIF unit (magnetite and jasper rich) is always observed directly above and in direct contact with Zone 1. When the BIF is not present (it appears lenticular in shape), Zone 1 may still be there but with much lower gold content. Therefore, the BIF appears to be a particular useful marker to locate the gold rich portions of Zone 1. For this reason, Opus One has decided to carry out a helicopter borne detailed mag survey above the discovery area (5 km X 1 km) in order to identify the extent of this BIF and generate new drilling targets for Zone 1 which is directly in contact with the BIF. It has been observed that the BIF unit is lenticular which implies the presence of pinch and swells along the unit. This survey should be able to outline areas where the BIF is present and potentially, gold rich Zone 1 as well. Results of the 2020 and 2021 drilling programs on Noyell have been very exciting. Combined with data from previous historical programs, it is demonstrated that Zone 1 can be followed for approximately 500 meters in the east-west direction and from surface down to the 400 metre level. Our gold bearing structure remains open in all directions (see longitudinal section) Table 1 summarizes all mineralized intercepts obtained to date in the discovery area. It may be noted that most of the best gold intervals have been returned form the deep...