- ONGold Resources (OTCQB: ONGRF) has commenced a comprehensive summer exploration program at the Monument Bay Gold and Tungsten Project in Manitoba.
- The program includes a 30-line kilometer ground IP survey and a fixed-wing Lidar/Orthophotography survey to identify gold-tungsten bearing shoots and enhance exploration targeting.
- Monument Bay project holds historical resources of 2.3 million gold ounces in Measured and Indicated categories and 720,000 gold ounces in the Inferred category.
ONGold Resources (OTCQB: ONGRF) has launched its summer exploration initiatives at the Monument Bay Gold and Tungsten Project, located in northeastern Manitoba. This project, acquired from Agnico Eagle in December 2024, hosts significant historical resources, including 2.3 million gold ounces in Measured and Indicated categories and 720,000 ounces in the Inferred category.
The exploration program is focused on optimizing existing resources using advanced geophysical Induced Polarization (IP) surveys that reach depths of 300 meters, compared to historical depths of 45 meters. Additionally, a regional geological evaluation and fixed-wing Lidar/Orthophotography survey are underway to enhance structural understanding and exploration targeting.
The Monument Bay project covers a 40 km strike length and has undergone extensive drilling, exceeding 233,000 meters across over 800 diamond core holes. Despite this, substantial exploration potential remains both within known deposits and along uncharted satellite zones.
Operations will be managed from an existing 40-person base camp in collaboration with the Red Sucker Lake First Nation. The newly initiated surveys aim to define and prioritize targets for future drill testing, potentially expanding the resource base further.
CEO Kyle Stanfield emphasized that with the completion of desktop reviews and the activation of field operations, ONGold is positioned to explore expansion opportunities within the gold and tungsten resources at Monument Bay.
