Yahoo Finance Opus One Expand Its Gold Discovery Near Matagami
PROJECTS LOCATION
Sedimentary and Greenstone Belts
NOYELL PROJECT
GEOLOGY
MONTREAL, April 13, 2021 (GLOBE NEWSWIRE) -- Opus One Gold Corp. Inc. (OOR: TSXV) (“Opus One Gold” or the “Company”), a mining exploration company focused on exploring for high quality gold and base metal assets in accessible areas is pleased to announce excellent drilling results from its Noyell Gold project, located 25 km south of the town of Matagami, Abitibi, Quebec.
The target area consisted of a poorly explored portion of the Casa-Berardi-Douay-Cameron deformation zone which host the Casa Berardi gold mine (actual gold producer) and the Vezza Gold Mine (past producer). The Noyell property is located 10 km to the east of the Vezza gold Mine, in the same geological environment.
A total of 5,104 metres in 12 holes were drilled on the property this winter. Holes NO-21-01 to NO-21-08 and NO-21-12 were drilled in the vicinity of the two successful holes drilled in 2020, at 50 m spacing to the east and below the latter. Holes NO-21-09 to NO-21-11 were drilled on virgin exploration targets to the east of the Main Zone.
The Main mineralized zone (Zone 1) strikes in an east-west direction and dips steeply to the south. So far, it has been recognized for over 600m laterally and from surface down to 350m. Its true thickness varies from 0.5m to 10m with an average of approximately 3-4m. The geometry of the mineralized zone is noticeably simple and continuity is excellent. Zone 1 appears to be spatially related to a narrow unit of oxide Iron Formation (2-3m thick). Most mineralized intercepts consist of a silicified stockwork of quartz and sulphides (pyrrhotite, pyrite and arsenopyrite). Best gold grades are associated with sulphide rich intervals. This zone could be, at least in part, related to replacement of the iron oxides by iron sulphides. In most instances, Zone 1 is located within a competent greywacke unit which is not broken up or sheared. The table below shows results obtained within Zone 1 so far.
ZONE 1 | |||||
DDH | From | To | g/t Au | Length (m) | Metal Factor |
NO-21-01 | 237.50 | 238.10 | 0 | 0.6 | 0.0 |
NO-21-02 | 309.30 | 312.00 | 0.46 | 2.7 | 1.2 |
NO-21-03 | 302.60 | 303.70 | 8.07 | 1.1 | 8.9 |
NO-21-04 | 421.00 | 424.50 | 4.84 | 3.5 | 16.9 |
NO-21-05 | 421.80 | 424.50 | 6.08 | 2.7 | 16.4 |
NO-21-06 | 404.00 | 410.50 | 4.47 | 6.5 | 29.1 |
True width is approximately 80% of core length | |||||
Holes NO-21-01, 02 and 03 were drilled to the east of high grade hole NO-20-02, drilled last year, while the other holes were drilled below it.
Most holes in that area cut a second mineralized zone approximately 40-50m to the north of Zone 1. Zone 2 is quite different from Zone 1. It is found immediately adjacent to a graphitic fault hosted by fine graphitic sediments. The zone is typically sheared, injected with quartz and carbonates and impregnated with disseminated and stringer sulphides, usually in lesser amount than Zone 1. Grades are usually much lower than Zone 1 (see table below). Like Zone1, Zone 2 is tabular, E-W striking and steeply south dipping.
ZONE 2 | ||||
DDH | FROM | TO | G/T AU | LENGTH (M) |
NO-21-01 | 290.50 | 291.00 | 3.18 | 0.50 |
NO-21-02 | 361.30 | 364.50 | 1.22 | 3.20 |
NO-21-03 | 348.00 | 352.00 | 0.56 | 4.00 |
NO-21-04 | 475.80 | 477.80 | 0.57 | 2.00 |
NO-21-05 | 471.00 | 472.00 | 1.04 | 1.00 |
NO-21-06 | 461.00 | 463.00 | 1.15 | 2.00 |
At this stage about half of the assays have been received, more results are pending.
Mr. Louis Morin, CEO, states: "The 2021 Winter Noyell drill program is now completed. With about half assays results on hand, we started compiling those results. By now we know the drilled zones we intercepted remain open at depth and Westward. Results obtained provide us with a better picture of the gold system found on Noyell property. Results are very encouraging, and we look forward to following up as we have a large land package in the Vezza-Casa Berardi area to explore."
All samples collected during the winter of 2021 drill program were prepared and assayed at ALS Minerals (Vancouver), a certified laboratory. Our QA/QC program consisted in the insertion of a control sample every 9 samples. Control samples consisted in a blank as well as two certified standards (one low grade and one high grade for gold). All samples above 5 g/t Au were re-assayed with FA. The gold value used in this report is the average of AA and FA results.
Pierre O’Dowd, P. Geo, [Independent Consulting geologist] acts as a Qualified Person as defined in National Instrument 43-101- Standards of Disclosure for Mineral Projects and has reviewed and approved the technical information in this press release.
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 the release.
For more information, please contact:
Louis Morin
Chief Executive Officer & Director
Tel.: (514) 591-3988
Michael W. Kinley, CPA, CA
President, Chief Financial Officer & Director
Tel: (902) 826-1579
Visit Opus One’s website: www.OpusOneGold.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ba34484a-9026-4253-b426-bbdbf0589048
https://www.globenewswire.com/NewsRoom/AttachmentNg/7ce3c728-3d6c-4c47-95d2-d8bad4a00a3b
