Onyx Gold Discovers New Gold Zone 250 meters from Argus North
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The most recent news, dated December 3, 2025, announces the discovery of a new gold zone, named "Argus West," located 250 meters southwest of the main Argus North discovery at the Munro-Croesus Project in Ontario.
Key drill intercepts from this new zone include: - MC25-213: 21.2 meters (m) of 2.1 grams per tonne (g/t) gold (Au) from 13.8 m depth, including a higher-grade interval of 14.0 m of 3.0 g/t Au. This same hole also hit a deeper zone of 26.2 m of 1.2 g/t Au, including 5.0 m of 5.1 g/t Au. - MC25-199: 38.0 m of 0.5 g/t Au.
The company's President and CEO, Brock Colterjohn, stated that this is a significant new discovery that highlights the fertility of the newly prioritized Argus Fault and supports the view that Argus is part of a larger system. Mineralization has now been found in both volcanic and sedimentary host rocks.
The company also announced the purchase of a 1.5% net smelter returns (NSR) royalty on certain claims within its Munro-Croesus and Timmins South properties for a consideration of 50,000 common shares.
The discovery of a new, parallel zone of near-surface gold mineralization is a material positive development for an exploration company. While the grades and widths are not as spectacular as the exceptional 208 m intercept of 2.3 g/t Au reported on November 17, the strategic importance of this new "Argus West" discovery is high.
- Expands the System: It demonstrates that the gold system at Argus is not confined to a single trend. Discovering a parallel zone 250 meters away significantly increases the potential footprint and scale of the overall project.
- Validates Exploration Model: The discovery supports management's geological interpretation of the Argus Fault as a major mineralizing corridor, increasing confidence that further drilling along this structure could yield additional discoveries.
- Economic Potential: The near-surface intercept in hole MC25-213 (starting at less than 14 meters depth) is particularly encouraging as it points toward potential for low-cost, open-pittable mineralization.
- Progression: This news builds logically on a series of highly successful drill results released since the initial Argus North discovery in April 2025. The company has consistently delivered wide intervals of gold mineralization, and this release expands the scope of that success.
- Royalty Management: The minor royalty purchase is a prudent, non-material action that shows proactive management of potential future encumbrances for minimal dilution.
In the context of historical results, this news confirms that the Munro-Croesus project has the potential to host a district-scale gold system rather than just a single deposit. This de-risks the exploration thesis and justifies the large, ongoing 75,000-meter drill program. The market should view this as a successful and material step in advancing the project.
Onyx Gold Corp. is a Canadian gold exploration company focused on projects in Ontario and the Yukon. Its flagship asset is the 100%-owned Munro-Croesus Project, located in the prolific Timmins Gold Camp. The project hosts the past-producing high-grade Croesus Gold Mine. The company's recent focus has been on the new "Argus North" discovery, a bulk-tonnage style gold system, and the newly discovered "Argus West" zone.