Targa Finds up to 6.7G/T Au IN Boulders at Opinaca GOLD Project
CSE: TEX | OTCQB: TRGEF | FRA: V6Y
FOR IMMEDIATE RELEASE November 25, 2024
TARGA FINDS UP TO 6.7G/T AU IN BOULDERS AT OPINACA GOLD PROJECT
Vancouver, British Columbia (November 25, 2024) – Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB:
TRGEF) (“Targa” or the “Company”) today announced the results of its September exploration program at
the Company’s 100%-owned flagship Opinaca Gold project (“Opinaca”), located in the James Bay region of
Quebec.
Highlights
• A dozen boulder samples returned >0.1g/t Au with a high sample of 6.67g/t Au
• Up to 123 gold grains in Heavy Mineral Concentrate (“HMC”) sampling
• In-fill HMC sampling continues to support thesis of the presence of a gold system along the 7km
target trend.
• Planning next phase of exploration at Opinaca including airborne geophysics and additional
ground work.
“Finding anomalous gold values in a dozen samples, including up to 6.7g/t, on the first ever prospecting trip
to the target trend is a huge success for the project and our team”, commented Targa CEO, Cameron Tymstra.
“Every trip we have made to Opinaca we have come back with more encouraging data to support our thesis
that a gold system exists in the area. We have gone from a geochemical anomaly to a 7km trend supported
by gold grain data and now for the first time we have found anomalous gold in boulders spread across the
trend. We are continuing to work with Kenorland Minerals to make plans for a return to Opinaca in 2025 to
continue advancing the project towards discovery.”
September Field Program Results
Heavy Mineral Concentrate Sampling
During the September field program 113 additional HMC samples were taken on a grid of 500m by 250m
along the previously identified 7km target gold trend (Figure 1). The HMC samples were processed at
Overburden Drilling Management’s lab in Ottawa.
Gold grain counts from the HMC samples continue to support the thesis of the existence of a gold system
along the trend with the majority of samples taken down ice from the trend returning elevated grain counts.
Many samples returned gold counts in excess of 25 grains, including a new high grain count for the project of
123 gold grains per normalized 10-kg sample, 79% of which were considered pristine grains. Similar to the
HMC sampling conducted in June, many of the latest batch of HMC samples showed eleva ted to high
percentages of pristine gold grains, indicating a shorter transportation distance of the gold grains from a
bedrock source.
Rock Sampling
A 6-person geology crew spent 1 week prospecting in the area along and down-ice from the 7km gold target
trend. Over 300 rock samples, mostly from boulders, were taken in the project area (Figure 2). All rock samples
were processed at the ALS Minerals lab in Sudbury.
Anomalous gold values were found in boulders representing multiple geological units with twelve samples
returning greater than 0.1g/t Au.
The 6.67g/t Au sample came from a sub-rounded boulder of a large 20cm laminated quartz vein located near
the head of the till train anomaly (Figure 3). The quartz vein contained small amounts of mafic wall rock, minor
arsenopyrite occurring in chlorite-biotite-diopside bands, and minor pyrite occurring as disseminations along
fractures.
Other anomalous boulders found near the gold target trend include mafic units, leucosomes, and paragneiss,
demonstrating a variety of gold-bearing rock units at Opinaca (Figure 4).
The number of samples taken from directly above the target trend was limited due to sparse outcrop and
boulders observed in that area. There is a low region in the local topography, seen from the LiDAR data, for
several kilometers along the center of the target trend that makes identification of boulders and outcrop
challenging. A detailed interpretation of the LiDAR data is ongoing by Les Consultants Inlandsis, experts in
glacial geology, to aid in identification of the source of gold that has been extensively observed in glacial till
samples at Opinaca.
2025 Exploration Program
Targa’s technical team is working with Kenorland to formulate the next phase of work for Opinaca which is
currently planned for 2025. Next steps at the project will include airborne geophysics to better understand
the buried geology, contact zones, and potential structures that may be playing a role in the local deposition
of gold. Additional prospecting and mapping work on the ground is also being planned in preparation of
identifying drill sites for a maiden drill program. Greater detail on the next phase of work is expected by Q1
2025.
About the Opinaca Gold Project
The Opinaca Project is located in the James Bay region of Quebec, approximately 40km south of Patriot
Battery Metals’ Corvette lithium discovery, 45km south of the all-season Trans-Taiga Road and 140km
northeast of Newmont’s Eleonore gold mine. The Opinaca Project covers 85,267 contiguous hectares of the
Opinaca geological sub-province, dominantly a metasedimentary region with neoarchean-aged igneous
intrusions including of the Vieux Comptoir suite of granites. Till sampling and prospecting work in 2023 and
2024 has identified a 7km-long gold target trend near the center of the project.
Qualified Person
The disclosure of scientific and technical information contained in this news release has been reviewed and
approved by Adrian Lupascu M. Sc. P.Geo., Exploration Manager of Targa Exploration Corp., who is a “qualified
person” within the meaning of National Instrument 43 -101- Standards of Disclosure for Mineral Projects.
About Targa
Targa Exploration Corp. (CSE: TEX | FRA: V6Y | OTCQB: TRGEF) is a Canadian exploration company engaged in
the acquisition, exploration, and development of gold and lithium mineral properties with headquarters in
Vancouver, British Columbia. Targa’s project portfolio consists of fifteen projects in the provinces of Quebec,
Ontario, Manitoba, and Saskatchewan and covers over 400,000 hectares of prospective ground, most of
which has never been explored previously for lithium or gold.
Contact Information: For more information and to sign-up to the mailing list, please contact:
Cameron Tymstra, CEO and President
Tel: 416-668-1495
Email: [email protected]
Website: www.targaexploration.com
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