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Onyx Gold Extends Argus Gold System with 0.8 g/t Gold over 70.0 Meters and 0.7 g/t Gold over 95.0 Meters

Onyx Gold extends the Argus system with broad intercepts as its 110km drill program accelerates in the Timmins camp.

By The Northwire Desk — AI Analysis Jun 04, 2026 · 06:54 ONYX · 1.22 Onyx Gold Corp.

Executive Summary

Onyx Gold Corp. released drill results from its fully funded 110,000-meter program at the 100%-owned Munro-Croesus Project in Ontario.
The Argus gold system has been extended with intercepts of 0.8 g/t Au over 70.0 meters and 0.7 g/t Au over 95.0 meters.
Mineralization now spans approximately 1.4 km of strike length and over 500 meters vertically across Argus Main, Argus North, and the newly identified Argus West zones.
Drilling remains open in multiple directions.
Program status: 159 holes completed (~62,000 meters); ~48,000 meters planned for the remainder of 2026.
Four drill rigs are currently active.
The company reports a cash position of approximately $20 million, fully funding the current exploration phase.
Geophysical work includes a completed 420 line-km high-resolution drone magnetic survey to refine targets along the Argus and Pipestone Fault corridors.

Material Impact

The June 4, 2026 release continues a consistent trajectory of exploration updates that have been rolling out since mid-2025.
The intercepts are in line with previous announcements, reinforcing the structural model that northeast-trending faults control higher-grade mineralization.
There are no material surprises or misses; the results validate the company's geological interpretation but do not represent a step-change in scale or grade that would fundamentally alter the project's economics overnight.
The fully funded status and addition of a fourth rig are positive operational milestones that de-risk near-term execution, but they are incremental to the previously announced 110,000-meter program expansion from April 2026.
Given the steady cadence of similar announcements, the market has likely already priced in this level of progress. The impact is positive but routine.

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Company Overview

Onyx Gold Corp. is a discovery-focused exploration company operating in two premier Canadian gold jurisdictions: the Timmins Camp in Ontario and the Eastern Tombstone Gold Belt in Yukon.
Flagship Project: Munro-Croesus Project (109 km² land package). The project hosts the historic Croesus Mine and the rapidly expanding Argus system (Argus North, Main, and West).
The Argus system is characterized by broad, near-surface bulk-tonnage mineralization (Argus Main) and high-grade structural corridors (Argus North/West) controlled by the Argus and Pipestone Faults.
Secondary Project: King Tut Property in Yukon, focusing on the Ra intrusion, which shows strong surface sampling results and intrusion-related gold potential.

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