Technical Corporate up-Date
NEWS RELEASE
DECEMBER 2, 2020 TRADING SYMBOL: TSX-V: OOR
TECHNICAL CORPORATE UP-DATE
MONTREAL, QC, December 2, 2020 – Opus One Gold Corporation.
(OOR : TSXV) (“Opus One Gold Corporation.” or the “Company”), a mining exploration
company focused on discovering high quality gold and base metals deposits in accessible
areas is providing a corporate update of its recent activities on its projects.
Opus One Gold Cor p controls a large land package along the Ca sa-Berardi and Douay -
Cameron Breaks (Figure 1), two major regional geological structures known to host
mesothermal gold deposits. Three of our properties are located in this geological
environment:
NOYELL
Following the success of the 2020 shortened drilling pro gram on Noyell (because of Covid -
19), the company is getting ready to resume drilling to follow up on the significant gold
intercepts obtained in the central portion of the property as well as on untested IP anomalies
defined in 2011 (previous operator) and in 2020 by Opus One. These IP anomalies are very
significant for the company as they are observed along the immediate eastern extension of
the gold intercepts obtained earlier this year and they clearly appear to represent their eastern
representation. All contractors for the drilling program have been reserved and the permitting
process has been finalized. Opus One Gold intends to start its drill program early in 2021.
The program should consist of 5,000 metres of drilling and 13 holes. Eight holes will
investigate the 2020 discovery area while 5 holes will test IP anomalies located from 0.5 to 3
km east of drill hole NO-20-02.
VEZZA NORTH:
The drilling database was updated.
VEZZA EXTENSION:
The drilling database was updated.
FECTEAU (Urban-Barry Windfall):
Our Fecteau property is strategically located in the very active Urban-Barry Windfall gold
district with easy land access.
The 2018 till survey defined 3 world class gold targets with geochemical signatures similar
to those from Windfall and Eleonore. Two of the three anomalous areas were not previously
known to host gold mineralization. Regional sampling by Osisko Mining outlined additional
gold targets on Fecteau. Results of these surveys represent a very significant development
for the company. It opens new target areas for gold in the eastern portion of the property.
Unique geology hosting a small felsic volcanic belt exhibiting strong evidences for VMS type
mineralization in the Windfall district is hosted by Fecteau.
Field crews have been active all summer and fall on Fecteau. A detailed till survey was
completed in areas not previously covered as well as in areas were anomalies had been
detected in the 2018 survey in order to further define these anomalies. This year’s survey
confirmed the three previously found anomalies and detected a fourth one. A program of
lithogeochemical sampling was also carried out to complete a previous survey performed in
2018 but never analyzed (lack of funds at the time). Many results are still pending and they
will be discussed when all samples have been properly analyzed and compiled.
In addition to the previous surveys, a crew was mobilized to further investigate gold
anomalous areas and other showings (mostly base metals) on the property. Unfortunately,
the crew could not find outcrops on the gold targets previously defined by the till sampling
program (overburden covered). On the other hand, several interesting base metal showings
were found in the central portion of the property. Assays for this prospecting work are
pending. The company has decided to carry out geophysical surveys (IP) over several of
the targets defined during the summer. Three grids are being cut and IP should be
completed before year end. This work should provide drilling targets for 2021.
COURVILLE:
Our Courville Property is located in the Quebec segment of the Abitibi Greenstone Belt some
50km to the northeast of Val -d’Or. 100% owned, it consists of 14 designated lots covering
561 hectares. The property is easily accessible through a well -maintained gravel road and
can be worked year-round with no constraints.
All data pertaining to the Courville Property are being gathered, revisited, compiled, and
digitized and a structural model will be produced soon.
OUTLOOK FOR THE NEXT QUARTER
The fall quarter is being used to compile and study results of the field season on Fecteau.
Geophysics (IP) was proposed for the end of the year. We are gearing up for the winter
drilling program on Noyell. The 5,000-metre program should start in early January, as soon
as terrain conditions allow access and the drill can be mobilized.
Following a successful financing program completed last August 2020, Opus One Gold is
well financed to complete the planned upcoming programs.
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