MONTREAL, Jan. 17, 2018 – OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX-V:OOR), is pleased to announce that the fall trenching program on the Ray Zone area of Win-Win property was successful and has returned high gold grades in channel samples where visible gold was found. The showing contains a narrow N080 oriented quartz vein and veinlet system hosted in a basalt unit of the Obatogamau formation. The historical trench was refreshed and extended over a 10 X 20 metre area, exposing a quartz vein that was traced over a length of 6.5 metres. Overburden thickness increases towards the east and west where the vein and structure is projected to extend.
The quartz vein and stockwork system varied in width from 10 to 50 centimeters and is hosted in carbonatized basalt. The vein strikes N080 and is sub-vertical to north dipping. Historical drill hole GM-15 reported 3.23 g/t Au over 3.35m including 12.00 g/t over 0.30m (GM#39920-SIGEOM public database) ,is located approximately 20m west of the showing and seems to correlate with the same vein system. Historical work on the showing didn’t report any visible gold and the best channel sample result reported 2.8g/t over 0.3m (GM#42857-SIGEOM Public database).
Channel samples were taken at 1 to 2 metres intervals across the mineralised zone, wherever possible. The following table is a summary of the best individual or composite assay results from 6 channels, totaling 21 individual samples oriented perpendicular to strike:
Base Line Showing
|Channel #||Weighted Avg g/t Au||Length m||Lithology|
|01||16.22||0.47||Quartz vein and stockwork|
|03||27.36||0.37||Quartz vein and basalt Visible Gold|
|04||50.95||0.33||Quartz vein and basalt Visible Gold|
|05||6.07||0.49||Quartz vein and basalt|
This surface showing is located at the east end of the historical Ray Zone that extends up to 275 metres to the northwest from the surface showing. Previous drilling on four sections along the Ray Zone intersected significant gold values however the nature of the mineralisation and structural control needs to be worked out.
RAY ZONE AREA 2017 CHANNEL SAMPLING RESULTS
|1479877||R-1||0,80||0,22||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479878||R-1||0,80||0,09||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479879||R-1||0,53||0,02||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479881||R-1||0,85||0,01||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479882||R-1||0,50||0,04||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479883||R-1||0,47||16,22||Basalt plus 10cm with several centimetric qtz veinlets|
|1479884||R-1||0,84||0,05||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479885||R-2||0,83||0,02||Basalt, dk green, fg, ~10% diss Py|
|1479886||R-2||0,87||0,05||Basalt, dk green, fg, ~10% diss Py|
|1479887||R-3||0,37||27,36||Basalt plus 10cm qtz vein with VG|
|1479888||R-3||0,51||0,12||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479889||R-3||0,57||0,22||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
|1479890||R-4||0,33||50,95||Basalt plus 10cm qtz vein with VG|
|1479891||R-5||0,49||6,07||Basalt plus 15cm qtz vein|
|1479892||R-5||0,56||0,09||Basalt, dk green aph, stg Fol, wk Cb, Tr Py|
|1479893||R-5||0,52||0,68||Basalt with dark smokey Qtz Vein|
|1479894||R-5||0,69||0,20||Basalt, dk green aph, stg Fol, wk Cb, Tr Py|
|1479895||R-5||0,57||0,10||Basalt, dk green aph, stg Fol, wk Cb, Tr Py|
|1479896||R-5||0,77||0,07||50-50% Basalt & Chlorite Schist|
|1479898||R-6||0,79||0,01||Basalt, dk green aph, mod Fol, wk Cb, Tr Py|
A location map and detailed trench map can be found at the link indicated at the end of the release.
Follow up diamond drilling is planned for the next exploration phase during winter 2018. The objectives of the program are to verify and expand the Ray Zone mineralisation and test for possible parallel structures.
WinWin is a gold property which consists of 49 mining claims covering an area of 2,678 hectares located approximately 25 kilometres south-east of the town of Chapais. The Property is directly adjacent to the North frontier of IAMGOLD/ Tomagold Monster Lake property and covers a six kilometers strike length of the Monster Lake Deformation Zone (FDZ) and subsidiary shear zones. Numerous gold showings and occurrences are present on the property that shows similarities with the Monster Lake project geology.
Samples collected during the 2017 fall exploration program were dispatched from Chapais to Laboratoire Expert, Rouyn-Noranda for processing. Standard and blank QA-QC samples were introduced in the sample series at regular intervals in the field. All samples were processed according to Laboratoire Expert’s internal quality control procedures. They were analysed following standard pyro-analyses technics “Fire Assay-Atomic Absorption”. Samples which returned values equal or greater than 5.0 g/t were reanalysed by gravimetric method.
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 Metanor 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.
In addition, Opus One has also optioned three properties, all easily accessible by a 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 area in Canada; Winwin property, located directly North of Iamgold’s Monster Lake property, and the Grizzly property, located 40 kilometers north-west of the city of Chapais in a similar geological setting to Northern Superior’s Croteau East project.
Tony Brisson, P. Geo and director of Opus One, acts as a Qualified Person as defined in National Instrument 43-101 and has reviewed and approved the technical information in this press release.
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 Grizzly 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
Michael W. Kinley, CPA, CA
President, CFO & Director
T (902) 826-1579
F (902) 826-2550
C (902) 402-0388