Onyx Gold Corp Stock Price, News & Analysis

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has completed the first tranche of its non-brokered private placement, raising approximately $3 million through the issuance of 3,490,343 common shares at $0.85 per share to a strategic investor. The proceeds will be used for general corporate purposes. A second tranche is scheduled to close around June 6, 2025, pending TSX Venture Exchange approval and other conditions.

Onyx Gold Corp (OTCQX: ONXGF) has announced a 10,000-meter Spring Drill Program at its Timmins, Ontario properties, primarily focusing on the recently discovered Argus North zone at the Munro-Croesus Project. The discovery hole MC24-163 intersected impressive results of 3.4 g/t Au over 69.6 m, including 13.9 g/t Au over 9.5 m.

The program includes Phase 1 step-out drilling at 50-meter intervals to extend mineralization, with Phase 2 planning larger step-outs. Additionally, 1,500 metres will be dedicated to reconnaissance drilling at the Golden Mile property. The company recently secured an $11 million financing to support potential program expansion.

The Argus North zone, located 100m north of Argus Main and 150-200m below surface, shows promising mineralization within altered mafic variolitic volcanics. The zone remains open in all directions and is situated near Mayfair Gold's 4.4-million-ounce Fenn-Gib deposit.

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced the acceleration of expiry for outstanding common share purchase warrants originally issued on July 6, 2023. Out of 7,143,999 total warrants at an amended purchase price of $0.30, 3,419,111 warrants have been exercised, generating proceeds of $1,025,733, with 3,724,888 warrants remaining.

The warrant expiry acceleration was triggered as the company's share price exceeded $0.375 for 10 consecutive trading days. The remaining warrants must be exercised by May 24, 2025, or they will expire. If all remaining warrants are exercised, it would result in additional proceeds of up to $2.14 million.

The funds will support exploration efforts, particularly at the Argus North target in Timmins, where recent drilling revealed significant gold mineralization of 3.4 g/t Au over 69.6 m, including a high-grade subzone of 13.9 g/t Au over 9.5 m. Drilling is scheduled to commence in early May.

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced significant drill results from its Munro-Croesus Project in Ontario, with hole MC24-163 at the Argus North Zone intersecting 3.4 g/t gold over 69.6 meters, including high-grade subzones of 13.9 g/t gold over 9.5 meters and 38.5 g/t gold over 3.0 meters.

The company has also signed an option agreement to acquire a 100% interest in a strategic 21-hectare inholding property adjacent to the discovery. The agreement terms include total payments of C$1,515,000 and 3,300,000 shares over three years, plus C$1,250,000 in exploration expenditures.

The Argus North Zone discovery is located 100 meters north of the main Argus Zone trend and remains open in all directions. The mineralization was found approximately 150-200 meters below surface, within strongly altered mafic volcanics containing visible gold in quartz veinlets.

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced plans to amend the terms of 7,143,999 common share purchase warrants issued on July 6, 2023. The warrant exercise price will be reduced from $0.75 to $0.30 per share, with an accelerated expiry provision if the stock price exceeds $0.375 for 10 consecutive trading days.

The company has also issued 1,375,000 restricted share units (RSUs) to directors and officers, vesting over three years in equal portions at 12, 24, and 36 months after the grant date. Additionally, VP of Corporate Communications Nicole Hoeller has stepped down but will continue providing services through her new venture, NIKLI Communications Inc., as an independent contractor.

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) reported significant achievements in 2024, including new gold discoveries and strategic acquisitions. The company completed a 25-hole drill program at the Munro-Croesus Project in Timmins, Ontario, yielding notable results including 1.87 g/t gold over 48.1m at the Argus North Discovery. The company expanded its Munro-Croesus Property to 108 km² through key acquisitions.

At the King Tut Property in Yukon, the company acquired the Ra claims and conducted extensive sampling, collecting 135 channel samples and 400 soil samples. Senior management demonstrated confidence by personally acquiring 1.71 million shares (2.4% of total shares) on the open market. The company also highlighted benefits from Fireweed Metals' secured C$35.4M government funding for infrastructure improvements in the Yukon Territory.

Onyx Gold Corp (TSXV: ONYX) (OTCQX: ONXGF) has announced final results from its 2024 summer field program at the King Tut Property in Yukon's Tombstone Gold Belt. The program revealed significant findings, including a high-grade surface rock sample of 25.1 g/t Au at the Ra vein field. The gold-in-soil geochemical footprint at Golden Mask was expanded to 2,300 by 1,500 meters. The company conducted soil and rock sampling, detailed geological and vein mapping, and reprocessed airborne magnetic data. At Ra, the program identified an extensive field of sheeted quartz veins. The company plans to incorporate these results into a refined drill program for 2025.

Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) has announced the granting of incentive stock options under its Omnibus Share Incentive Plan. The company has issued a total of 1,650,000 Options to officers, directors, employees, and consultants. These Options have been granted at an exercise price of $0.20 per share and are valid for a five-year period. All Options are subject to a vesting schedule over the first 24 months. This issuance of Options follows the company's annual compensation review.

Onyx Gold Corp. (TSXV: ONYX) (OTCQX: ONXGF) has announced the acquisition of a property in the Matheson area, east of Timmins, Ontario. The property consists of one mining lease and four unpatented mining claims and is contiguous with the company's Munro-Croesus Property. Following the acquisition, the Munro-Croesus Project will total 10,588 ha (105.8 km2).

The acquisition terms include a cash payment of $20,000 and the issuance of 120,000 common shares to the vendor, subject to regulatory approval. The property is subject to a pre-existing 2% NSR payable to another arms-length party.

Additionally, Onyx Gold Corp. held its annual general meeting of shareholders, where all directors were re-elected for another term.