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The latest update is out from Onyx Gold Corp. ( (TSE:ONYX) ).
Onyx Gold Corp. announced the discovery of a new high-grade gold vein zone at the C Zone of its Munro-Croesus Project in Ontario, with channel samples returning up to 124 g/t gold over 0.62 meters within a broader interval of 39.5 g/t gold over 2.33 meters. The newly exposed vein zone, which remains open along strike and at depth, has become a significant new target for follow-up and will be incorporated into a fully funded 75,000-meter drill program, supported by approximately $30 million in the company’s treasury. Management highlighted that this discovery, made in an area historically underexplored and only partially evaluated decades ago, underscores the broader potential for additional high-grade and bulk-tonnage systems on the property and strengthens Onyx’s positioning in the Timmins camp as it systematically tests a pipeline of regional targets.
More about Onyx Gold Corp.
Onyx Gold Corp. is a mineral exploration company focused on high-grade gold discoveries, primarily advancing its 100%-owned Munro-Croesus Project in the Timmins gold camp of Ontario. The company is targeting both high-grade vein systems and bulk-tonnage gold mineralization across a consolidated land package that has seen limited, sporadic historical exploration, leveraging modern structural interpretation and systematic drilling to unlock value in a historically prolific mining district.
Average Trading Volume: 140,044
Technical Sentiment Signal: Buy
Current Market Cap: C$140.5M
Learn more about ONYX stock on TipRanks’ Stock Analysis page.