Opus One Gold Corp Outlines New Gold Targets on Its 100% Owned Noyell Project Near Matagami

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MONTREAL, Sept. 11, 2024 (GLOBE NEWSWIRE) -- 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 potential extensions to Zone 1 and/or parallel structures that could be gold bearing.

Firstly, it must be mentioned that the bio-geochemical survey 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 direct 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 carries 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. The program has been fully designed and permitting is underway. The company expects to complete approximately 7,000 meters of drilling from the beginning January 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.