Ongold Resources Stock Price, News & Analysis

ONGold Resources has appointed Paul Dunbar as Vice-President of Exploration, bringing nearly 40 years of geological expertise. The company is reactivating exploration at the Monument Bay Gold Project in Manitoba, which historically contained 2.3 million gold ounces in Measured and Indicated resources, plus 720,000 gold ounces in Inferred resources.

The exploration program includes expanding geological understanding, conducting field exploration, undertaking induced polarization surveys, and performing structural studies. Five new target areas have been identified, with three designated as "highest priority" for potential gold resource expansion: Ankerite/Gold Pond area, AZ Zone/Central Zone area, and Monument Bay deposit west extension.

Additionally, Wally Dzick, an experienced resource geologist, has been engaged to re-examine the existing gold resource and expansion opportunities. The project's historical resources were calculated using US$1,200 gold price assumptions and require updating to current standards.

ONGold Resources (TSXV: ONAU, OTCQB: ONGRF) celebrates Chairman John Kim Bell's remarkable legacy on March 13, 2025, marking the 40th anniversary of his founding of the Canadian Native Arts Foundation (CNAF).

As the world's first Indigenous symphonic conductor, Bell transformed CNAF into the National Aboriginal Achievement Foundation (NAAF), now known as Indspire. His notable achievements include producing a groundbreaking Toronto Symphony concert in 1987 and creating the $1 million Indigenous ballet 'In The Land of Spirits' in 1988, which received widespread acclaim.

Under Bell's 20-year leadership, the foundation provided thousands of Indigenous youth with university scholarships, built a $17 million endowment fund, and secured over 200 annual corporate sponsors. He later established the National Aboriginal Achievement Awards, reaching 2 million CBC viewers, and organized the landmark 'Taking Pulse' conference with 63 corporate CEOs.

Bell, appointed as ONGold's Chairman in May 2024, became the first Indigenous Canadian to chair a Canadian resource company, bringing his extensive experience in Indigenous relations and corporate negotiations to the mineral exploration firm.

ONGold Resources (OTCQB: ONGRF) has identified five new high-priority gold exploration targets at its Monument Bay Gold project in northeastern Manitoba. The project, recently acquired from Agnico Eagle, spans 31,250 ha across 136 mining claims.

The company has prioritized three key areas for potential gold resource expansion: (1) Ankerite/Gold Pond area, (2) AZ Zone/Central Zone area, and (3) Monument Bay Deposit West Extension. A historical resource estimate from 2017 indicated 2.3 million gold ounces in Measured and Indicated categories (58.0 million tonnes at 1.24 g/t) and 720,000 gold ounces in Inferred category (24.4 million tonnes at 0.92 g/t).

The company has also identified 18 conductive targets for gold mineralization and 8 strong conductor targets for summer investigation. ONGold plans to utilize a fully serviced 40-person field base camp for future exploration programs.

ONGold Resources (TSXV: ONAU) (OTCQB: ONGRF) has received formal invitation from Red Sucker Lake First Nation (RSLFN) to resume exploration activities at the Monument Bay gold project in Northeastern Manitoba. The project, acquired from Agnico Eagle Mines in December 2024, is located within RSLFN's traditional territories.

Following extensive discussions, a framework agreement has been established for exploration resumption, aligned with RSLFN's Community Consultation Protocol. Recent geological compilation suggests significant potential for expanding the historic gold resource.

ONGold Resources (TSXV: ONAU) (OTCQB: ONGRF) has completed the acquisition of the Monument Bay Gold Project and Domain Project in Manitoba from Agnico Eagle Mines and Capella Minerals. The initial consideration includes $250,000 in cash and 8.7 million ONGold common shares valued at approximately $4.2 million, making Agnico Eagle a 15% shareholder.

Monument Bay represents a district-scale exploration opportunity with significant gold and tungsten mineralization over a 40 km strike length. The project has seen over 232,000 metres of drilling in more than 800 diamond core holes. The most recent historical resource estimate (2017) identified 2.3 million Au oz in Measured & Indicated categories and 720,000 Au oz in Inferred category, though these estimates are no longer current under NI 43-101.

The acquisition strengthens ONGold's portfolio and provides a camp to explore nearby Rapson Bay Properties, complementing the company's exploration footprint in Northern Ontario.

ONGold Resources has entered agreements to acquire 100% interests in the Monument Bay Gold Project and Domain Project in Manitoba, Canada from Agnico Eagle Mines and Capella Minerals. The initial consideration includes $250,000 in cash and 8.7 million ONGold shares valued at approximately $4.2 million, giving Agnico Eagle a 15% stake in ONGold. Additional contingent milestone-based payments total $22 million.

Monument Bay is an advanced exploration asset with over 232,000 metres drilled in more than 800 diamond core holes. The project's most recent historical resource estimate (2017) identified 2.3 million Au oz at 1.24 g/t in Measured & Indicated categories and 720,000 Au oz at 0.92 g/t in Inferred category. The closing is expected in December 2024.

ONGold Resources announces its common shares are now trading on the OTCQB Venture Marketplace under the symbol 'ONGRF', while maintaining its TSXV listing under 'ONAU'. The company has also received Depository Trust Company (DTC) eligibility, making its stock more accessible to US investors. DTC eligibility enables electronic clearing and settlement of securities in the United States, accelerating the settlement process. The OTCQB listing requires companies to meet quality standards including current financial reporting, minimum bid price, and annual verification processes.