MONTREAL, March 17, 2020 (GLOBE NEWSWIRE) -- OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX Venture Exchange: OOR), is pleased to announce that it has mobilized a diamond drill on its Noyell property located 25 km south of the town of Matagami. The property is located within the Casa-Berardi gold district, a few kilometres to the east of the former producer Vezza Mine. The drilling program will consist of a maximum of 10 holes totalling 2,000m. The mineralized area comprises two south dipping zones separated by approximately 25-30m. All holes should cut both zones.
Opus controls a large land package along the Casa-Berardi and Douay-Cameron Breaks, two regional geological structures known to host mesothermal gold deposits. On the Noyell property, the gold mineralization is observed in various geological environments: associated with oxide iron formations, along volcanic-sedimentary contacts (ex: the Vezza mine) and within quartz injected shear zones in silicified sediments of the Taïbi Group.
Past drilling on Noyell has outlined various gold showings in distinct geological environments. The most promising environment appears to be related to sulphidized Iron formation in the center of the property. Promising historical values obtained in drilling:
- 7.89 g/t Au over 1.20 m
- 6.79 g/t Au over 1.50 m
- 19.97 g/t Au over 0.50 m
- 5.33 g/t Au over 3.0 m
- 6.93 g/t Au over 1.0 m
- 13.36 g/t Au over 0.40 m and many more
(NOTE: These drill results constitute historical information that has not been independently reviewed by a Qualified Person within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects and as such, should not be relied upon by the reader as there has been insufficient exploration on the property to date in order to assess the mineral potential of the property, and it is uncertain that further exploration will result in the determination of any quantifiable mineral resource on the property.)
These results indicate that gold is highly anomalous in the region and that further exploration is warranted. An interesting factor is the correlation between gold and the sulphide content (pyrite, pyrrhotite and arsenopyrite). It is therefore appropriate to use Indiced Polarization (IP) to follow the mineralization laterally at surface. In 2011, a strong chargeability anomaly has been outlined directly to the east of the known mineralized area, indicating a robust exploration potential in a previously untested area of the break. A recent IP survey completed further east, on newly staked claims by the Company, indicates that this IP anomaly can be followed east for an additional 1.6 km.
Mr. Louis Morin, CEO, of Opus one states: "Opus One is very active on its Noyell property drilling program. We are working in a highly promising area for gold exploration, as we are committed to build value for our shareholders."
About OPUS ONE Resources Inc.
Opus One Resources Inc. is a mining exploration company focused on discovering high quality gold and base metals deposits within strategically located properties in proven mining camps, sometimes 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 Val-d'Or, Matagami and Chibougamau areas. Bachelor Extension property is adjacent to Bonterra Resources Inc.- Bachelor Gold Mine, Vezza Extension and Vezza North are located few kilometers West and North of Nottaway Resources Vezza Mine. The Courvillle property is located east of Val D’Or.
Opus One has also optioned the Fecteau property, easily accessible by a broad network of all-season roads: Fecteau property, located in the Urban-Barry greenstone belt, east of Osisko Mining’s Windfall Lake deposit, is currently one of the most active exploration areas in Canada.
Pierre O’Dowd, P. Geo, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements 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 statements. 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 transpire or occur, including the development of the Fecteau Property, or if any of them do so, what benefits OPUS ONE will derive. Forward-looking information are 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 Resources Inc.' control. These risks, uncertainties and assumptions include, but are not limited to, those described under "Risk Factors” in OPUS ONE’s management discussion and analysis for the year ended August 31, 2016, 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Louis Morin, CEO & Director
T (514) 591-3988
Info@OpusOneResources.com
Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388
mkinley@winassoc.biz
Visit Opus One’s website: www.OpusOneResources.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0aebb6a9-e788-4ae8-bae0-eebd6142f223