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Ongold Resources Ltd ( (TSE:ONAU) ) has provided an update.
ONGold Resources Ltd. has significantly expanded its TPK property in northwestern Ontario by acquiring additional claims, increasing the total area by 46%. This expansion aims to cover extensions of key geological features, potentially rich in gold and base metals, enhancing the company’s exploration prospects. The recent successful diamond drilling at TPK’s Gold Ridge area has identified a pervasive gold-bearing system, marking a key milestone in the project’s evolution. Furthermore, ONGold has entered into a Memorandum of Understanding with the Chapleau Cree First Nation to support exploration activities, which includes issuing shares and warrants to the CCFN, although a definitive agreement has yet to be reached.
More about Ongold Resources Ltd
ONGold Resources Ltd. is a company operating in the mining industry, primarily focused on gold and base metals exploration. Its market focus includes expanding and exploring claims in northwestern Ontario, particularly around the Ti-pa-haa-kaa-ning (TPK) project.
Average Trading Volume: 67,621
Technical Sentiment Signal: Strong Buy
Learn more about ONAU stock on TipRanks’ Stock Analysis page.