ONGold Initiates Infill Sampling Program to Recover Missing Tungsten and Gold Assays at Monument Bay for Enhanced Resource Modeling and Development
Executive Summary
- ONGold has launched an extensive infill sampling program to assay over 13,400 historic core pulps for tungsten, aiming to unlock significant gold‑equivalent value at the Monument Bay deposit.
- The release discloses numerous high‑grade gold‑tungsten intercepts across four shoots (Camp, River, Lake, Simmons), with several intervals exceeding 5 g/t Au and >1 % WO₃, highlighting strong multi‑commodity potential.
- Historical resource estimates (both gold‑tungsten and gold‑only) are referenced as context, but the company emphasizes that these are historical and not current NI 43‑101 resources.
Key Details
- Program Scope: Sampling of >13,400 historic core pulps for tungsten; additional logging and splitting for gold assays.
- Key Intercepts – Camp Shoot:
- TL‑05‑275 – 17.4 m @ 2.05 g/t Au, 0.51 % WO₃ (incl. higher‑grade sub‑intervals up to 6.77 % WO₃).
- TL‑05‑245 – 3.1 m @ 17.73 g/t Au, 0.86 % WO₃.
- TL‑03‑107 – 2.6 m @ 14.02 g/t Au, 0.96 % WO₃.
- TL‑05‑269 – 4.5 m @ 49.13 g/t Au, 0.16 % WO₃.
- Key Intercepts – River Shoot:
- TL‑12‑484 – 3.0 m @ 2.50 g/t Au, 1.18 % WO₃.
- TL‑13‑509 – 7.0 m @ 1.86 g/t Au, 0.37 % WO₃ (including 0.28 m @ 1.82 g/t Au, 11.12 % WO₃).
- TL‑18‑668 – 3.0 m @ 15.68 g/t Au, 1.22 % WO₃.
- Key Intercepts – Lake Shoot:
- TL‑07‑339 – 5.0 m @ 1.87 g/t Au, 0.44 % WO₃.
- TL‑02‑83 – 5.0 m @ 1.61 g/t Au, 0.55 % WO₃.
- Key Intercepts – Simmons Shoot:
- TL‑16‑599a – 10.0 m @ 2.34 g/t Au, 0.13 % WO₃ (sub‑intervals up to 5.31 g/t Au, 1.03 % WO₃).
- TL‑11‑430 – 3.0 m @ 1.06 g/t Au, 0.42 % WO₃.
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TL‑13‑506 – 2.0 m @ 2.82 g/t Au, 1.14 % WO₃.
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Historical Context:
- 2015 Yamana Gold estimate (cut‑off 0.70 g/t Au) reported 1.69 Mt at 2.58 g/t Au and 0.17 % WO₃ (≈140 k oz Au, 286 k mtu WO₃).
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Additional historic “gold‑only” resources: ~2.3 M oz Au in Measured & Indicated categories.
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Market Insight: Current tungsten oxide price cited at US$42,313 per metric tonne (Chinese export market).
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Qualified Person: Paul Dunbar, P.Geo., VP Exploration (non‑independent) reviewed technical content.
Notable Quotes
“Our team has made exceptional progress evaluating the vast Monument Bay geological database. We're extremely excited to unlock the full potential of the Monument Bay deposit by collecting the remaining missing tungsten assays and further sampling mineralized core not previously sampled.” – Kyle Stanfield, CEO & Director
Materiality Assessment: Material – Positive (the disclosed high‑grade gold‑tungsten intercepts and launch of a large‑scale assay program materially enhance the project's valuation prospects.)