- Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced significant drill results from the Munro-Croesus Project in Ontario.
- The drill hole MC24-163 at Argus North Zone intersected 3.4 g/t gold over 69.6 meters, including high-grade subzones of 13.9 g/t over 9.5 meters and 38.5 g/t over 3.0 meters.
- Onyx Gold has signed an option agreement to acquire 100% interest in a 21-hectare property adjacent to the discovery, with a commitment of C$1,515,000 in payments, 3,300,000 shares over three years, and C$1,250,000 in exploration expenditures.
Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has reported remarkable drill results from its Munro-Croesus Project in Ontario. The company revealed that drill hole MC24-163 at the Argus North Zone intercepted 3.4 grams per tonne (g/t) of gold over a span of 69.6 meters. This included high-grade subzones yielding 13.9 g/t over 9.5 meters and 38.5 g/t over 3.0 meters.
In addition to these findings, Onyx Gold has entered into an option agreement to secure a 100% interest in a strategic 21-hectare property adjacent to this discovery. The terms of the agreement entail total payments of C$1,515,000 and the issuance of 3,300,000 shares over a three-year period. Additionally, the company has committed to C$1,250,000 in exploration expenditures.
The Argus North Zone, located 100 meters north of the main Argus Zone trend, presents significant potential as it remains open in all directions. The discovery was made approximately 150-200 meters below the surface, within strongly altered mafic volcanics containing visible gold in quartz veinlets, suggesting substantial exploration opportunities moving forward.
