Onyx Gold (ONYX.V) expanded its 2026 exploration program at its Munro-Croesus project in northern Ontario, from 75,000 meters (m) to 110,000m and added a fourth drill rig, it said Thursday.
The expanded program is designed to both accelerate growth of the Argus Zones and systematically test multiple high-priority targets along the underexplored Pipestone Fault and across the broader Munro-Croesus property, the company added. Of the 110,000m drill program, more than 50,000m has been completed to date.
Argus Zones remain open in all directions, with mineralization projecting toward surface in multiple areas. Ongoing work continues to define "key structural and stratigraphic controls" to the gold mineralization with potentially significant exploration implications along the 8 km of strike length of the Pipestone Fault that Onyx controls, and across the greater property, the company said.
"Importantly, we are beginning to see a repeatable structural framework emerge across the Argus Zones and along the Pipestone Fault, which we believe will significantly improve our ability to systematically target higher-grade mineralization within a broader gold system," said Chief Executive Brock Colterjohn. "With a fully funded program, strong ongoing news flow, and multiple catalysts ahead, we believe Munro-Croesus is evolving into one of the most compelling discovery stories in the Timmins camp."
Shares of the company were last seen up$0.01 to $1.15 on the TSX Venture Exchange.
Price: $1.15, Change: $+0.01, Percent Change: +0.88%