Feb 28 2019
Opus One Resources Inc. is happy to report that the till Survey undertaken in the summer and fall of 2018 brought forth three gold targets, including two that are situated in portions of the property that were not identified to host gold showings. On the whole, the Survey shows that the total southern portion of the property hosts anomalous gold in the till. Nonetheless, three anomalous areas are prominent from assay results as well as gold counts. The westernmost anomaly is located in an area formerly known to host gold showings in trenches and drilling. The Survey endorses the significance of this sector as a possible target for gold mineralization.
Fecteau Property - 2018 Till Results (Image credit: Opus One Resources Inc)
Two anomalous areas were also exposed in the property’s southeastern portion where gold has never been reported. This is a very exhilarating development on Opus One’s Fecteau property. These anomalies are of the same level (in ppb’s Au) as anomalies located down ice at Monster Lake or Eleonore, according to Rémi Charbonneau, Ph.D., P. Geo, who conducted the Survey and inferred the results. The best till result returned 1920 ppb Au which is quite a high value for this sort of sample treatment. Anomalies are demarcated by areas displaying many results above 150 ppb Au. Usually, in this sector of the Abitibi, sources of gold anomalies are situated up ice a few kilometers to the northeast of the anomalies. The property is sufficiently large to host these probable gold-bearing structures.
The company proposes to extend its till sampling coverage on the property as well as finish a program of boulder tracing so as to establish the sources of these anomalies and suggest trenching and ultimately drilling programs. Orogenic gold is recognized to occur in the district, including on the Fecteau property, in the form of gold-bearing quartz veins. The most favorable project of this highly prospective district is Windfall where a substantial gold deposit is being drawn by Osisko Mining.
The company’s management is very satisfied with the results of the till sampling program and validate further field work for the coming summer. Opus One’s objective is to be able to fix drill targets for the winter of 2019-20.
In other news, the company has planned to let go of two of its options in the Abitibi, the WinWin, and Grizzly projects. After two years of exploration, it was obvious that results and market situations did not warrant paying for coming commitments on these projects. Opus One plans to pursue its effort to locate quality acquisitions in Quebec as well as in Latin America where its team possesses all-encompassing experience.
Opus One remained active through the course of 2018, although it was a challenging year for mining exploration companies. We took a very careful approach in order to maximize the efficiency of the company’s resources while avoiding dilution in a difficult market. On a cost-reward basis, we took decisions not to continue our work commitment for two properties we had optioned as results obtained did not justify spending more of our money. Results generated by till Survey program on our Fecteau Property took a while to obtain as this is a painstaking sampling/assay/compilation work plan. Nevertheless, it was worth the wait as three totally new and significant gold targets have been outlined. The Fecteau Property is well located within Urban-Barry gold camp, one of the busiest mining districts in Canada. Opus One is actually reviewing different projects located in Latin America countries that are mining friendly and where geo-political risk is minimal.
Louis Morin, CEO, Opus One Resources
During PDAC 2019 convention at the Toronto Convention Center, Opus One Resources will be at Booth 2125 from March 3rd till March 6th. Updates regarding the ongoing and upcoming activities can be obtained from the company’s team.