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Ongold Resources Ltd ( (TSE:ONAU) ) has shared 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 prospective areas for gold and base metals deposits, enhancing the company’s exploration potential. Recent drilling at the Gold Ridge area has identified a pervasive gold-bearing system, indicating a large orogenic gold system, although no mineral resource has been defined yet. Additionally, Ongold has entered into a Memorandum of Understanding with the Chapleau Cree First Nation to support exploration activities, which includes issuing shares and warrants, although a definitive impact benefit agreement has not been finalized.
More about Ongold Resources Ltd
Ongold Resources Ltd is a company operating in the mining industry, focusing on the exploration and development of gold and base metals deposits. The company is primarily engaged in expanding its mining claims and conducting exploration activities in northwestern Ontario, particularly around the Ti-pa-haa-kaa-ning (TPK) project.
Average Trading Volume: 67,621
Technical Sentiment Signal: Strong Buy
For an in-depth examination of ONAU stock, go to TipRanks’ Overview page.