ONGold Announces Agreement with Nibinamik First Nation & Initiation of Exploration Program at TPK Gold Project
ONGold Resources (OTCQB: ONGRF) has announced a significant Collaboration Agreement with Nibinamik First Nation and initiated a diamond drilling exploration program at its TPK Gold Project. The project, covering 47,796 hectares with 2,431 cell claims, features two large mineralized systems.
The current exploration focuses on the Gold Ridge System, where previous drilling revealed impressive results including intersections of up to 41.5 g/t Au over 0.6m. The company has launched an eight-hole diamond drill program totaling 2,400 metres. Historical exploration highlighted mineralized boulders with values up to 727 g/t gold, 111 g/t silver, and 4.1% copper.
The agreement includes a pending issuance of $150,000 worth of common shares to Nibinamik First Nation, subject to TSX Venture Exchange approval.
ONGold Resources (OTCQB: ONGRF) ha annunciato un importante Accordo di Collaborazione con la Nibinamik First Nation e ha avviato un programma di esplorazione con trapano diamantato presso il suo progetto TPK Gold. Il progetto, che copre 47.796 ettari e comprende 2.431 concessioni a casella, ospita due ampi sistemi mineralizzati.
L’esplorazione in corso è concentrata sul Gold Ridge System, dove perforazioni precedenti hanno restituito risultati notevoli, tra cui intersezioni fino a 41,5 g/t Au su 0,6 m. La società ha avviato un programma di perforazione diamantata di otto fori per un totale di 2.400 metri. Esplorazioni storiche hanno evidenziato massi mineralizzati con valori fino a 727 g/t oro, 111 g/t argento e 4,1% rame.
L’accordo prevede l’emissione, soggetta all’approvazione della TSX Venture Exchange, di azioni ordinarie per un valore di 150.000 $ a favore della Nibinamik First Nation.
ONGold Resources (OTCQB: ONGRF) anunció un importante Acuerdo de Colaboración con Nibinamik First Nation e inició un programa de perforación diamantina en su proyecto TPK Gold. El proyecto, que abarca 47.796 hectáreas con 2.431 concesiones por celda, contiene dos grandes sistemas mineralizados.
La exploración actual se centra en el Gold Ridge System, donde perforaciones previas arrojaron resultados destacados, incluyendo intersecciones de hasta 41,5 g/t Au sobre 0,6 m. La compañía ha lanzado un programa de perforación diamantina de ocho taladros que suma 2.400 metros. Exploraciones históricas identificaron cantos mineralizados con valores de hasta 727 g/t oro, 111 g/t plata y 4,1% cobre.
El acuerdo incluye la emisión pendiente, sujeta a la aprobación de la TSX Venture Exchange, de acciones ordinarias por valor de 150.000 $ a Nibinamik First Nation.
ONGold Resources (OTCQB: ONGRF)는 Nibinamik First Nation과 중요한 협력 계약을 체결하고 자사의 TPK Gold 프로젝트에서 다이아몬드 시추 탐사 프로그램을 시작했다고 발표했습니다. 해당 프로젝트는 47,796헥타르에 걸쳐 2,431개의 셀 클레임을 포함하며 두 개의 대형 광상 시스템을 보유하고 있습니다.
현재 탐사는 Gold Ridge System에 중점을 두고 있으며, 과거 시추에서는 0.6m 구간에서 최대 41.5 g/t Au의 교차 등 인상적인 결과가 나왔습니다. 회사는 총 2,400미터, 8개 구멍의 다이아몬드 시추 프로그램을 시작했습니다. 기존 탐사에서는 최대 727 g/t 금, 111 g/t 은, 4.1% 구리 값을 보이는 광석들이 확인되었습니다.
이 계약에는 TSX 벤처 거래소의 승인을 조건으로 Nibinamik First Nation에게 150,000달러 상당의 보통주 발행이 포함됩니다.
ONGold Resources (OTCQB: ONGRF) a annoncé un accord de collaboration important avec la Nibinamik First Nation et a lancé un programme de forage diamanté sur son projet TPK Gold. Le projet couvre 47 796 hectares avec 2 431 concessions en cellules et comporte deux grands systèmes minéralisés.
L’exploration en cours se concentre sur le Gold Ridge System, où des forages antérieurs ont révélé des résultats remarquables, notamment des intersections jusqu’à 41,5 g/t Au sur 0,6 m. La société a lancé un programme de forage diamanté de huit trous totalisant 2 400 mètres. Des explorations historiques ont mis en évidence des blocs minéralisés avec des valeurs atteignant 727 g/t or, 111 g/t argent et 4,1% cuivre.
L’accord prévoit, sous réserve de l’approbation de la TSX Venture Exchange, l’émission de actions ordinaires d’une valeur de 150 000 $ à la Nibinamik First Nation.
ONGold Resources (OTCQB: ONGRF) hat eine bedeutende Kooperationsvereinbarung mit der Nibinamik First Nation bekannt gegeben und ein Diamantkernbohrprogramm auf seinem TPK Gold-Projekt gestartet. Das Projekt erstreckt sich über 47.796 Hektar mit 2.431 Flächenclaims und umfasst zwei große mineralisierte Systeme.
Die aktuelle Exploration konzentriert sich auf das Gold Ridge System, wo frühere Bohrungen beeindruckende Ergebnisse zeigten, darunter Schnitte bis zu 41,5 g/t Au über 0,6 m. Das Unternehmen hat ein Acht-Loch-Diamantbohrprogramm mit insgesamt 2.400 Metern gestartet. Historische Untersuchungen hoben mineralisierte Blöcke mit Werten von bis zu 727 g/t Gold, 111 g/t Silber und 4,1% Kupfer hervor.
Die Vereinbarung sieht – vorbehaltlich der Genehmigung durch die TSX Venture Exchange – die Ausgabe von Stammaktien im Wert von 150.000 $ an die Nibinamik First Nation vor.
- Previous drilling revealed high-grade gold intersections up to 41.5 g/t Au
- Large land package of 47,796 hectares in favorable geological setting
- Historical samples showed exceptional grades up to 727 g/t gold
- Strategic collaboration agreement secured with local First Nation
- Early-stage exploration project with no defined resource estimates
- Share issuance to First Nation will cause dilution
Toronto, Ontario--(Newsfile Corp. - September 4, 2025) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) (the "Company" or "ONGold") is extremely pleased to announce the signing of a Collaboration Agreement with Nibinamik First Nation (the "Collaboration Agreement"). Meaningful and consistent engagement with the community has resulted in an understanding that is transformational in terms of what the community and ONGold are initiating together. With the agreement in place, exploration diamond drilling of the Ti-pi-ha-kaa-ning ("TPK") project was recently initiated and is expected to conclude during the latter half of September.
Kyle Stanfield, CEO and Director of ONGold, commented: "Through negotiation of the Collaboration Agreement with Nibinamik First Nation, we have demonstrated again that ONGold understands how to engage with communities in a meaningful way. We are thrilled to be working closely with Nibinamik First Nation as we undertake the diamond drilling exploration program at TPK".
The TPK Project hosts two large independent mineralized systems and is comprised of 2,431 cell claims covering an area of 47,796 hectares within a highly favorable geological setting. The Gold Ridge System (formerly Annex area), the focus of this current exploration program, occurs at the head of a large gold grain-in-till dispersal corridor and is located in the north-east portion of the expansive TPK property.
Gold Ridge System Previous Exploration Highlights
Mineralized boulders returned assay values of up to 727 g/t gold, 111 g/t silver, and
4.1% copper.Drill hole NG-12-003C returned grades of up to 4.62 g/t gold over a core length of 5.5 m (from 145.6 m to 151.1 m), including 20.8 g/t Au over 1.0m (from 145.6 m to 146.6 m).
Drill hole NG-12-005C intersected 13.40 g/t Au over a core length of 1.90m (from 162.3 m to 164.2 m), including 41.5 g/t Au over 0.6m (from 162.3 m to 162.9 m).
Current Program
ONGold considers the Gold Ridge System to be a highly promising and largely untapped region, situated within a geologically advantageous setting. Early-stage exploration has already revealed encouraging signs of both gold and copper potential, underscoring the area's significant resource prospects.
An eight-hole diamond drill program totaling 2,400 metres is currently underway. This initiative aims to build upon the results of the 2012 drilling campaign while also evaluating grassroots targets. These targets have been identified through a combination of anomalous gold grain counts in till samples, boulders exhibiting elevated gold and copper values, and geophysical anomalies previously outlined by earlier ground surveys (Table 2 and Figure 2). Oriented core will be used to collect structural data to enhance the understanding of the structural controls of both gold and base metal mineralization at TPK.
Property Geology
The TPK Property is located in the Bartman – Lavoie greenstone belt of Oxford-Stull domain of the Sachigo Superterrane. The Stull-Wunnumin Fault Zone ("SWFZ") is a regional-scale structure that forms the boundary between the Oxford-Stull terrane and the North Caribou terrane.
In the Gold Ridge System, rocks mapped as mafic and intermediate volcanics and interbedded sediments have been intruded by early gabbro and quartz diorite/granodiorite complexes. In the 2012 drilling, the contacts of mafic dykes with the diorite were found to be loci for the veins and shears carrying gold mineralization.
History of the Gold Ridge System
Previous property scale till sampling by previous operators defined a 10 km long X 3.5 km wide gold grains in till dispersion train (the Keeley Lake Train) of gold grains in till, which terminates in the Gold Ridge System area. Of 100 samples of mineralized boulders 24 returned anomalous gold values between 0.1 and 1.0 g/t Au and 9 assays > 1.0 g/t Au, including one that assayed 727 g/t gold, 111 g/t silver,
Subsequent diamond core drilling in 2012 consisted of 2,241m in 7 holes (Figure 1). The best assay intercepts are reported on Table 2. Significant gold, silver and copper values were most often found in quartz veins and thin shear structures at the contacts of mafic dykes and the quartz diorite host rock.
Limited ground magnetometer and induced polarization ("IP") surveys were completed in 2012. These outlined NNE and ENE trends in the underlying rocks and identified new targets up-ice of angular boulders with anomalous gold and copper values.
Additional prospecting in 2017 resulted in several new gold occurrences being found, with 16 of 36 bedrock samples assaying more than 0.1 g/t Au, three of which assayed 1.28, 1.42 and 1.56 g/t Au, respectively. Additionally, three of these 36 samples returned anomalous (>500 ppm) copper values of 892, 736 and 4,370 ppm Cu, respectively. No other work has been completed since on this part of the TPK property.
Table 1: Highlights of the 2012 Diamond Drilling Program
| Hole | From | To | Length | Au (g/t) | Ag (g/t) | Cu (ppm) |
| NG-12-001C | 21.5 | 25.0 | 3.5 | 0.75 | 1.08 | |
| NG-12-002C | 279.2 | 280.7 | 1.5 | 2.25 | 0.18 | |
| NG-12-003C | 145.6 | 151.1 | 5.5 | 4.62 | 0.42 | |
| incl. | 145.6 | 146.6 | 1.0 | 20.8 | 1.47 | |
| NG-12-004C | 224.0 | 229.1 | 5.1 | 1.31 | ||
| incl. | 224.0 | 226.0 | 2.0 | 2.80 | ||
| NG-12-005C | 162.3 | 164.2 | 1.9 | 13.4 | 2.93 | 153 |
| incl. | 162.3 | 162.9 | 0.6 | 41.5 | 8.27 | 291 |
| NG-12-006C | 5.7 | 6.7 | 1.0 | 0.336 | 1.91 | 748 |
| NG-12-006C | 135.3 | 137.0 | 1.7 | 0.84 | 0.71 | 183 |
| NG-12-007C | 267.6 | 270.1 | 2.5 | 1.20 | 1.27 | 473 |
A more complete description of the TPK property's geology and mineralization can be found in the NI 43-101 Technical Report (the "Technical Report") titled "Technical Report for the Ti-pa-haa-kaa-ning Property" dated November 7, 2023 and with an effective date of November 7, 2023, prepared by Chantal Jolette, P.Geo., of Qualitica Consulting Inc. which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website. Other information is available in a report titled "Ti-pa-haa-kaa-ning - 2017 Summer Exploration Program NTS 43 D/5" filed for assessment purposes with the Ministry of Northen Development and Mines in 2017. The historical data presented in this news release has been obtained from the Technical Report.
Figure 1. Geological Compilation of the Gold Ridge System Showing Historical Assay Returns and Planned Drill Holes
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10770/264870_3559032d24b7695e_001full.jpg
The scientific and technical content of this press release has been reviewed and approved by Rodney Barber, P. Geo. for ONGold, who is a "Qualified Person" as defined by NI 43-101. Mr. Barber is the President of ONGold and is not considered independent. Ongoing verification of scientific and technical information is achieved by direct involvement in the exploration work.
Certain obligations of the Company pursuant to the Collaboration Agreement are subject to the approval of the TSX Venture Exchange, including the issue of
About ONGold Resources Ltd.
ONGold Resources Ltd. owns significant exploration assets in Northern Ontario and Northern Manitoba, including the district-scale Monument Bay Gold and Tungsten Project, TPK Project, Domain Gold Project and October Gold Project. These projects represent a strategic footprint in one of Canada's most prolific gold-producing regions.
With its extensive technical expertise, strong commitment to social acceptability, mindful Indigenous engagement and partnerships, in addition to a proven track record of responsible exploration, ONGold's team is uniquely positioned to unlock the full potential of its portfolio of projects.
ONGold Resources Ltd. on behalf of the Board of Directors,
Kyle Stanfield, Chief Executive Officer & Director
Contact Information
Kyle Stanfield
Chief Executive Officer
Telephone: 1 (855) 525-0992
Email: info@ongoldresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding the Company's exploration plans and programs; the timing and completion of the current diamond drilling program; expectations regarding the geological potential and resource prospects of the TPK project and the Gold Ridge System; the Company's ability to build upon previous exploration results; the potential for gold and copper mineralization; the Company's future exploration activities; the anticipated benefits of the Collaboration Agreement with Nibinamik First Nation; the ability to obtain TSX Venture Exchange approval for the share issuance; and other statements that are not historical facts.
Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: risks related to the exploration and development of mineral properties; uncertainties related to the interpretation of exploration results and the geology, grade and continuity of mineral deposits; the need for cooperation of government agencies in the development and operation of properties; the need to obtain additional financing for the development of properties; the possibility that future exploration results will not be consistent with the Company's expectations; increases in costs; environmental compliance and changes in environmental and other local legislation and regulation; interest rate and exchange rate fluctuations; changes in economic conditions; and other risks inherent to the mining industry.
Forward-looking information is based on certain assumptions that management believes are reasonable, including that the Company will be able to continue its exploration activities, that the Company will be able to obtain any required approvals, permits and authorizations, that general business and economic conditions will not change in a materially adverse manner, that the Company will receive continued support from its stakeholders, and that all necessary third party approvals will be obtained. However, management cannot provide any assurance that these assumptions will prove to be correct.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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FAQ
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