800 Square Victoria, #3500
800 Square Victoria, #3500
Montreal, Québec, H4Z 1E3
Tel: (514) 591-3988
NEWS RELEASE
SEPTEMBER 11TH, 2024 TRADING SYMBOL: TSX-V: OOR
OPUS ONE GOLD CORP OUTLINES NEW GOLD TARGETS ON ITS 100% OWNED
NOYELL PROJECT NEAR MATAGAMI
NOT FOR DISTRIBUTION TO U.S NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Montreal, September 11th, 2024, Opus One Gold Corp (TSX-V: OOR) (the “Company”
or “Opus One”) is pleased to announce that it has outlined new gold targets on its Noyell
property located some 25 km to the south of the mining town of Matagami in Abitibi, south
of Eeyou Istchee, James Bay region.
In recent months, Opus One carried out a bio-geochemical survey over its Zone 1 gold
discovery (confirmed by drilling in 2020 and 2021) as well as on the ground to the east
and south-east of it to find pot ential extensions to Zone 1 and/ or parallel structures that
could be gold bearing.
Firstly, it must be mentioned that the bio-geochemical surv ey successfully identified the
Zone1 discovery as a clear gold anomaly was outlined at the precise location of the zone,
even though it is covered by approximately 20 meters of overburden. Furthermore, the
gold anomaly related to Zone 1 appears to extend eastward for several hundred meters.
It must be noted that Zone 1 and this gold anomaly are closely associated to a magnetic
anomaly corresponding to the presence of a banded iron formation (BIF). We know from
drilling that Zone 1 is in di rect contact with a BIF which represents an excellent marker
horizon.
The survey identified a second potential gold bearing horizon, also associated with a BIF,
some 300 meters south-east of Zone 1. That target, which extends for over 1 km in an
east-south-east direction, has never been drilling and represents a totally new target area.
We already know that Zone 1 is not the only gold bearing horizon on the property. Past
drilling identified a second horizon (Zone 2) some 40 meters to the north of Zone 1. The
latter is seldom mentioned by OOR as it only ca rries sub-economic values, so far. It is
however well developed and, more importantly, shows that several gold bearing horizons
could be outlined on the property enhancing its gold potential significantly.
Opus One, is gearing up for a winter drilling program in 2025. T he program has been
fully designed and permitting is underway. The company expects to complete
approximately 7,000 meters of drilling from the beginning J anuary to the end of March
2025. This program will explore the eastern and western extensions of Zone 1 as well as
the depth extension which is totally open to date.
Louis Morin Opus One CEO commented: We are really pleased by those results obtained
from our latest bio-geochemical survey. Not only It outlined our existing gold bearing Zone
1 but it clearly showed potential for extensions of this zone along with possible existence
of similar zones elsewhere on the property.
Despite an ongoing challenging environment for junior mining exploration company,
thanks to our supporters, we were able to secure a 100% ownership of Noyell gold
property.
From its location, Noyell is easily accessible and costs for different exploration programs
are quite lower than those for more remote pr ojects. Therefore it is with the highest
enthusiasm we look forward to the upcoming exploration and drill programs on Noyell.
OPUS ONE Resources Inc.
Opus One Resources Inc. is a mining explor ation company focused on discovering high
quality gold and base metals deposits within stra tegically located properties in proven
mining camps, close to existing mines in the Abitibi Greenstone Belt, north-western
Quebec and north-eastern Ontario - one of the most prolific gold mining areas in the world.
Opus One holds assets in the Val-d'Or and Matagami mineral districts.
A qualified person, Pierre O’Dowd P.Geo, has verified the data disclosed, including
sampling, analytical, and test data underlying the information or opinions contained in the
written disclosure as required by section 3.1 and 3.2 of NI43-101.
Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information”
within the meaning of applic able Canadian securities legi slation. Forward-looking
information may include, among others, statem ents regarding the future plans, costs,
objectives or performance of Opus One, or the assumptions underlying any of the
foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”,
“believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” and similar words and the
negative form thereof are used to identify forward-looking st atements. Forward-looking
statements should not be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether, or the times at or by which, such future
performance will be achieved. No assurance can be given that any events anticipated by
the forward-looking information will transpi re or occur, including the anticipated
exploration program on the project, the re sults of such exploration program, the
development of the project and what benefits Opus One will derive from the project, the
expected demand for lithium. Forward-looking information is based on information
available at the time and/or management’s good-faith belief with respect to future events
and are subject to known or unknown risks, uncertainties, assumptions, and other
unpredictable factors, many of which are beyond Opus One’ control.
These risks, uncertainties and assumptions include, but are not limited to, those
described under “Financial Instruments” and “Risk and Uncertainties in Opus One’ Annual
Report for the fiscal year ended August 31st, 2022, a copy of which is available on SEDAR
at www.sedar.com and could cause actual events or results to differ materially from those
projected in any forward-looking statements. Opus One does not intend, nor does Opus
One undertake any obligation, to update or revise any forward-looking information
contained in this news release to reflect subsequent information, events or circumstances
or otherwise, except if required by applicable laws.
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
Visit Opus One’s website: www.OpusOneGold.com