MONTREAL, July 08, 2020 (GLOBE NEWSWIRE) -- OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX Venture Exchange: OOR), is pleased to announce that it recently received assay results for gold from its winter diamond drill program 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 proposal consisted in a maximum of 10 holes totalling 2,500m. Unfortunately, because of Covid 19, only two holes could be completed before all operations were shut down by government decree.
Hole N-20-01 was drilled steeply to the north (N355, -72º) to intersect the interpreted east-west striking and south dipping mineralized zones at the best possible angle. The hole was stopped at 447 m (core length) after intersecting the two interpreted gold bearing zones.
The first gold zone (Zone 1) was intersected between 374.6 and 381.1 m.
- A first interval (one sample): 374.6 @ 375.8 m returned 6.76 g/t Au over 1.2m
- A second interval (two samples) : 379.5 @ 381.1 returned 3.0 g/t Au over 1.6 m
- The average grade for the interval 374.6 to 381.1 is: 2.05 g/t Au over 6.5 m
The second gold zone (Zone 2) was intersected between 425.6 and 429.5 m.
- A single interval of 3 consecutive samples returned 1.60 g/t Au over 3.9 m
Hole N-20-02 was also drilled steeply to the north (N355, -75º). It reached a final depth of 372m along the hole. The hole cut one major intersection and two minor ones. The major intersection is observed from 294.9 to 306.1 m and it is interpreted as being Zone 1.
- This interval is made up of 11 samples returning 3.54 g/t Au over 11.2 m
- This interval includes a richer portion of 7.96 g/t Au over 3.7 m
Two other anomalous intervals were also returned from that hole:
- 238 to 239.7 m: 1.01 g/t Au over 1.7m and
- 358.8 to 360 m: 1.32 g/t Au over 1.2 m. Possibly Zone 2
Hole N-20-01: The mineralized zones consist of quartz-carbonate stockworks within a wacke carrying 5-10% Pyrrhotite, 1% Arsenopyrite and 1% Pyrite. Core angle is 55º indicating that true widths would be in the order of 70-80% of core lengths. These mineralized intervals are among the deepest (between 300 and 400 m vertical) ever returned from these structures in the area. These results clearly confirm the value of those gold zones as exploration targets. It is understood that the mineralization is wide open at depth and that it remains totally unexplored below 400 m.
Hole N20-02: The mineralization observed in this hole is identical to the one described for hole N-20-01 and core angles are about the same. The main mineralized interval is the furthest to the east known to date on this gold bearing structure at that depth (300 m). To the east of this significant interval the ground is totally virgin for kilometers and under Opus One’s control. The eastern extension of this mineralized structure is however well defined from a geophysical point of view. An IP survey carried out in 2011 extends the structure for an additional 1.6 km to the east. Furthermore, an IP survey carried out by Opus One this winter on newly staked ground extends the structure for another 1.8 km for a total of 3.4 km of quality survey.
With only two drill holes (drilled by OOR so far) and geophysics, the company can already envision the gold potential of this totally neglected portion of the Casa-Berardi structure. Results from hole N20-02 are the best ones obtained so far in this portion of the break and it is wide open to the east and below 300 m.
Opus controls a large land package along the Casa-Berardi and Douay-Cameron Breaks, two regional geological structures known to host mesothermal gold deposits. In the region, the gold mineralization is observed in various geological environments including: along volcanic-sedimentary contacts (ex: the Vezza mine) and within quartz injected shear zones in silicified sediments of the Taïbi Group (Noyell).
Past drilling on Noyell has outlined various gold showings in distinct geological environments. The most promising environment appears to be related to mineralized stockworks in the center of the property. Promising historical values have be obtained in drilling such as:
- 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
All samples collected during the winter of 2020 drill program were prepared and assayed at ALS Minerals (Vancouver), a certified laboratory. Our QA/QC program consisted in the insertion of a control sample every 9 samples. Control samples consisted in a blank as well as two certified standards (one low grade and one high grade for gold). All samples above 5 g/t Au were re-assayed with metallic sieve. The gold value used in this report is Au-total given by this analysis.
Mr. Louis Morin, CEO, states: "The 2020 Noyell drill program started at a good pace, but sadly we were forced to stop while moving toward hole number 3 due to COVID 19 government regulation in Quebec. Fortunately, we had time to complete the planned geophysics program and the first two drill holes. The drilled zones remain open at depth and results obtained provided us with precious information. We are enthusiast to prepare for the next exploration program phase; we know there is gold in the system, and we have a large land package in the Vezza-Casa Berardi area to explore."
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. Courvillle property is located east of Val D’Or.
Opus One has also optioned 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, 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, 2019, 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
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