ONGold Announces Commencement of 2026 Phase 2 Diamond Drilling Program at TPK
The 2,100-metre program will test interpreted structural continuity and follow up on previously intersected gold mineralization.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
ONGold Resources (ONGRF) has commenced its Phase 2 diamond drilling program at the Ti-pi-ha-kaa-ning (TPK) Project in northern Ontario. The 2,100-metre program is expected to continue through late November 2026. It will follow up on gold mineralization from 2025 and historical drilling and test the continuity of interpreted gold-hosting structures.
Previous results include 19.39 grams of gold per tonne over 8.20 metres at Discovery and a historical 25.87 grams per tonne over 13.5 metres at Goose Lake; these are downhole core lengths, not established true widths. Other highlighted targets include Crying Boy Lake, Discovery West and the previously undrilled Sidewinder Zone. Targets were defined using integrated three-dimensional modelling of drilling, geophysics and surface mapping. Planned continuous sampling and oriented core data are intended to refine understanding of gold-silver-copper mineralization.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point. Forward-looking: it has not happened yet and may not happen.2,100-metre Phase 2 drilling has commenced at TPK and is expected to continue through late November 2026.
- Minor pointDiscovery GR-25-011 returned 19.39 g/t gold over 8.20 metres of core, including 359 g/t over 0.30 metres.
- Minor pointHistorical Goose Lake TPK-10-004 returned 25.87 g/t gold over 13.5 metres of core, including 749.0 g/t over 0.3 metres.
- Minor pointHistorical Goose Lake TPK-11-013 returned 4.31 g/t gold over 6.84 metres of core, including 34.00 g/t over 0.50 metres.
- Minor pointHistorical Crying Boy Lake TPK-12-030 returned 8.70 g/t gold, 16.74 g/t silver and 0.67% copper over 3.6 metres of core.
4 minor points
- Minor pointSidewinder surface grab/chip samples returned gold grades ranging from 0.89 g/t to 10.70 g/t.
- Minor pointDiscovery West GR-25-012 returned 0.30 g/t gold and 1.60 g/t silver over 56.4 metres of core.
- Minor pointDiscovery West shear zone returned 11.10% copper, 218 g/t silver and 4.45 g/t gold over 0.40 metres of core.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned continuous sampling and oriented core data aim to refine structural understanding and support further target development.
Negative
- Minor pointSidewinder Zone, with a minimum 70-metre strike length, has not yet been drill tested.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - October 7, 2026) - ONGold Resources Ltd. (TSXV: ONAU) (OTCQB: ONGRF) (the "Company" or "ONGold") is pleased to announce the commencement of its Phase 2 exploration diamond drilling program at the Ti-pi-ha-kaa-ning ("TPK") Project in northern Ontario. TPK is located on the regional communities' winter-road network, which connects directly to the Musselwhite Gold Mine access road north of Pickle Lake (Figure 1). The program is expected to continue through late November 2026.
Kyle Stanfield, Chief Executive Officer and Director of ONGold, commented: "With the spring TPK field mapping and geophysics program successfully completed, we are extremely pleased to now be initiating the fall 2026 drilling program on several high-grade gold targets. This Phase 2 drill program is designed to advance our understanding of targets previously tested that resulted in outstanding gold grades. Initiation of this program marks a key milestone in enhancing our understanding of the project's mineralized structures and overall gold, silver and base metal potential."
The TPK Project comprises 2,835 cell claims covering approximately 76,292 hectares in northern Ontario and hosts multiple mineralized structures and exploration target areas. Historical drilling, gold-grain-in-till anomalies and gold-bearing boulder dispersal trains have informed the Company's exploration targeting across the property.
Prior Drilling Programs Highlights:
All intervals reported below are downhole core lengths. True widths have not been determined. Grab samples are selective by nature and may not be representative of mineralization on the TPK Project.
Discovery Zone: Near Surface Target - Definition Drilling to be Undertaken
GR-25-011: 19.39 g/t Au over a core length of 8.20 m (11.8 to 20.0m) including 359 g/t Au over 0.30 m (11.8 m to 12.1 m)- Figure 2.
Goose Lake Structure
Historical drill hole TPK-10-004: 25.87 g/t Au over a core length of 13.5 m (149.3-162.8m) including 46.0 g/t Au over a core length of 0.5 m (153.0-153.5m), 139.4 g/t Au over 1.7 m (156.8-158.5m), including 749.0 g/t Au over a core length of 0.3 m (157.2-157.5m) and 127.0 g/t Au over 0.7 m (162.0-162.7m) - Figure 3.
Historical drill hole TPK-11-013: 4.31 g/t Au over a core length of 6.84m (186.96-193.80), including 13.59 g/t Au over 1.5m (192.3-193.8m), including 34.00 g/t Au over 0.50m (192.3-192.8m).
Crying Boy Lake Structure
Historical drill hole TPK-12-030: 8.70 g/t Au, 16.74 g/t Ag and
0.67% Cu over a core length of 3.6 m (223.00-226.6m) including 30.38 g/t Au, 51.12 g/t Ag and1.91% Cu over 1.0 m (225.0-226.0m) including 59.60 g/t Au, 92.30 g/t Ag and3.19% Cu over 0.5m (225-226m).
Sidewinder Zone - New 2026 Target
Shear diorite structure with a minimum strike length of 70 m; not yet drill tested. Surface grab/chip rock samples returned 10.70 g/t Au, 6.48 g/t Au; 5.21 g/t Au, 3.40 g/t Au, 2.90 g/t Au, 2.26 g/t Au, 1.08 g/t Au and 0.89 g/t Au.
Discovery West
GR-25-012: 0.30 g/t Au and 1.60 g/t Ag over a core length of 56.4m and an apparent east trending shear zone
11.10% Cu, 218 g/t Ag and 4.45 g/t Au over 0.40 m (319.2-319.6 m).
Figure 1: Ti-pi-ha-kaa-ning (TPK) property location in northern Ontario.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10770/317799_6abf178d04029b4b_001full.jpg
Figure 2: 2025 Drill Hole GR-25-011: High-Grade Gold Intercept Near Surface
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10770/317799_6abf178d04029b4b_002full.jpg
Figure 3: Historical drill hole TPK-10-004 High-Grade Gold Intercept: Goose Lake
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/10770/317799_6abf178d04029b4b_003full.jpg
2026 Phase II Drill Program Outline
Recent fieldwork completed in June and July 2026, previously reported in ONGold's August 24, 2026 news release, together with the Company's 2025 drilling campaign and ongoing data compilation, has reinforced the prospectivity of this underexplored region and supported the advancement of a 2,100-metre diamond drilling program.
The program is designed to follow up on high-grade gold mineralization intersected in both the 2025 campaign and historical drill holes, while testing the continuity of interpreted gold-hosting structures. Drill targets have been defined through integrated 3D modelling that incorporates previous drill results, newly acquired and historical geophysical datasets, surface bedrock mapping and mineralization observations, and ongoing geological interpretation.
Continuous downhole sampling and oriented core data will further refine the understanding of structural controls on gold-silver-copper mineralization and support the development of high-priority targets across the project area.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Paul Dunbar, P.Geo., Vice President Exploration of ONGold, a "Qualified Person" as defined in NI 43-101 - Standards of Disclosure for Mineral Projects. Mr. Dunbar is not independent of the Company. Limitations: the QP has not verified all underlying historical data for the entire TPK dataset and verification is limited to the referenced drill holes. Ongoing verification of scientific and technical information is achieved by direct involvement in the exploration work.
QA/QC and Assay Procedures
Quality Assurance/ Quality Control ("QA/QC") procedures were executed to ensure all work is conducted in accordance with best practices. Sample verification is the same for grab rock samples except that only
Samples were analyzed at Activation Laboratories facility in Thunder Bay, Ontario and Ancaster, Ontario which are ISO 17025 and ISO 9001 certified. Samples were initially analyzed by 50-gram fire assay with atomic absorption finish. Any sample assaying greater than 5 g/t Au was re-assayed by fire assay gravimetric analysis. Selected samples have been analyzed by screened metallics method.
Geochemical analyses were performed by Activation Laboratories and consist of aqua regia digestion and analyses for 38 elements by ICP. Overlimit samples are re-assayed for silver and copper by Aqua Regia digestion using Inductively Coupled Plasma Optical Emission Spectroscopy ("ICP-OES"), Actlabs code "8 - AR - ICP-OES". A 0.5g sample is digested in aqua regia and diluted volumetrically to 250 ml with 18 megaohm water. Certified reference materials for the appropriate elements are digested the same way and are used as a verification standard(s). Samples are analyzed on an ICP-OES.
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: 1-647-749-5836
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 release.
Cautionary Note Regarding Forward-Looking Information:
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. Forward-looking information includes statements regarding the timing, scope and completion of the Company's approximately 2,100-metre Phase 2 diamond drilling program, including the expectation that drilling will continue through late November 2026; the targets to be tested and the potential continuity or extension of mineralized structures; the collection and use of continuous downhole sampling and oriented-core data; the Company's geological and structural interpretations; the timing, receipt and interpretation of assay and other exploration results; and future exploration targeting and work at the TPK Project. Generally, forward-looking information can be identified by words such as "plans," "expects," "is expected," "intends," "anticipates," "believes," "may," "could," "would," "might" or "will." Forward-looking information is based on management's reasonable assumptions, estimates and expectations as of the date of this news release, including assumptions regarding access to the TPK Project; weather, wildfire and seasonal conditions; the availability and performance of personnel, contractors, equipment and analytical laboratories; the availability of sufficient funding; the continued validity of required permits, approvals and access arrangements; community engagement; the reliability of historical information for exploration targeting; and the timely receipt and interpretation of assay and other exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied, including risks inherent in mineral exploration; the possibility that exploration results will not be as anticipated or support further work; geological and interpretation risk; operational, access and logistical risks; adverse weather or wildfire conditions; contractor, equipment and personnel availability; laboratory and analytical delays; permitting, regulatory and community-engagement risks; the availability of financing; commodity-price volatility; and general business, economic and market conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/317799
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How large is ONGold's Phase 2 TPK drilling program, and when is it expected to finish?
ONGold's Phase 2 TPK program comprises 2,100 metres of diamond drilling and is expected to continue through late November 2026. Drilling has commenced to follow up on previously intersected gold mineralization and test the continuity of interpreted gold-hosting structures.
What previous gold results is ONGold following up at TPK?
Highlighted previous results include 19.39 g/t gold over 8.20 metres in Discovery hole GR-25-011 and 25.87 g/t gold over 13.5 metres in historical Goose Lake hole TPK-10-004. Both measurements are downhole core lengths; true widths have not been determined.
Has ONGold verified all historical exploration data at TPK?
The qualified person has not verified all underlying historical data for the entire TPK dataset; verification is limited to the referenced drill holes. Paul Dunbar, ONGold's Vice President Exploration, reviewed and approved the technical information and is not independent of the company.