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    OOR   CA6838811066

OPUS ONE GOLD CORPORATION

(OOR)
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Opus One Gold : Obtains 6.02 gt Gold over 2.5 m and Brings to Light Its Gold Discovery near Matagami

06/23/2021 | 09:46am EDT

MONTREAL - Opus One Gold Corp. Inc. (OOR: TSXV) ('Opus One Gold' or the 'Company'), a mining exploration company focused on exploring for high quality gold and base metal assets in accessible areas is pleased to present new drilling results and the extent of its gold discovery on its Noyell Gold project, located 25 km south of the town of Matagami, Abitibi, Quebec.

The final highlight of the winter drilling was obtained in our very last hole of the program, NO-21-12, which returned 6.02 g/t Au over 2.5 m in Zone 1.

The discovery area is located within an under-explored portion of the Casa-Berardi-Douay-Cameron deformation zone which host the Casa Berardi gold mine (actual gold producer) and the Vezza Gold Mine (past producer). The Noyell property is located 10 km to the east of the Vezza gold Mine, in the same geological environment.

A total of 5,104 metres in 12 holes were drilled on the property this winter. Holes NO-21-01 to NO-21-08 and NO-21-12 were drilled in the vicinity of the two successful holes drilled in 2020, at 50 m spacing to the east and below the latter. Holes NO-21-09 to NO-21-11 were drilled on IP anomalies in the eastern portion of the property. All results from the winter drilling program have been received and compiled.

The Main mineralized zone (Zone 1) strikes in an east-west direction and dips steeply to the south. So far, it has been recognized for over 600m laterally and from surface down to 350m. Its true thickness varies from 0.5m to 10m with an average of approximately 3-4m. The geometry of the mineralized zone is noticeably simple and continuity is excellent. Zone 1 appears to be spatially related to a narrow unit of oxide Iron Formation (2-3m thick). Most mineralized intercepts consist of a silicified stockwork of quartz and sulphides (pyrrhotite, pyrite and arsenopyrite). Best gold grades are associated with sulphide rich intervals. This zone could be, at least in part, related to replacement of the iron oxides by iron sulphides. In most instances, Zone 1 is located within a competent greywacke unit which is not broken up or sheared. Unreleased results from Zones 1 and 2 are from holes NO-21-07, 08 and 12

Zone 2 is a gold anomalous tabular body located some 40 m to the north of Zone 1. At this stage, it is of limited economical interest.

Opus One Gold carried out a complete compilation and re-interpretation of recent and historical drilling and is presenting a longitudinal section of Zone 1 exhibiting the extent of the mineralized body at Noyell.

A preliminary observation about the genesis of this gold deposit is that it appears that the presence of oxide facies bedded Iron Formation (BIF) is necessary to mobilize the gold. The presence of a strong quartz-sulphide stockwork without BIF (like the one observed in hole NO-21-07) is not sufficient to attract and retain the gold flowing through the hydrothermal system. Although not all BIF's are associated with gold anomalies, they remain a good exploration tool for future drilling programs.

BIF's are lenticular sedimentary units. They can disappear laterally and vertically and reappear not too far away. This is what we observe in the eastern part of Zone 1 where the BIF is absent in holes NO-21-07 and 08 and reappears in hole NO-21-03. If this is confirmed, this deposit could comprise many zones.

Mr. Louis Morin, CEO, states: 'Opus One Gold Corp is happy with the conclusion of its Winter 2021 drill program on its Noyell property. We got a better picture of our Gold bearing ore body that remains totally open towards West and depth. We found that our ore body has a remarkably simple geometry. This is especially encouraging as our drill holes were done at shallow depth and frequently, economical Gold deposits tend to be located at depth in Abitibi area. We achieved among the least expensive exploration program cost in Quebec province; this is compliant to our commitment in using efficiently our investors money on the ground.'

All samples collected during the winter of 2021 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 FA. The gold value used in this report is the average of AA and FA results.

Contact:

Louis Morin

Tel: (514) 591-3988

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2020 - - -
Net income 2020 -0,65 M -0,53 M -0,53 M
Net cash 2020 2,16 M 1,75 M 1,75 M
P/E ratio 2020 -11,8x
Yield 2020 -
Capitalization 5,35 M 4,33 M 4,34 M
EV / Sales 2019 -
EV / Sales 2020 -
Nbr of Employees -
Free-Float 97,7%
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Louis Morin Chief Executive Officer & Director
Michael W. Kinley President, Chief Financial Officer & Director
Anthony M. Croll Chairman
Patrick Fernet Director
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