MONTREAL, April 05, 2018 (GLOBE NEWSWIRE) — OPUS ONE Resources Inc. (the “Company” or “OPUS ONE”) – (TSX Venture Exchange:OOR), is pleased to announce the beginning of a 1,500 meter drilling program, in 10 drill holes, on its Fecteau property. The property is located in the Barry-Windfall gold district where several exploration companies are extremely active, including Osisko Mining at Windfall and Metanor at Barry. The company’s objective is to drill a high priority target identified by prospecting, trenching and channel sampling during the summer of 2017.
The drilling will focus on a new gold discovery exposed in a trench over 38 meters. The trench uncovered a new EW trending steeply dipping mineralized zone comprised of a 1-2m thick quartz vein with sulfides hosted in an altered and sheared quartz porphyry intrusion. The quartz vein and the stockwork envelope are highly anomalous in gold over all the exposed area. Best values are shown in the table below.
|Channel #||Weighted Avg g/t Au||Length m||Lithology|
|03||1.84||1.35||Quartz vein and stockwork|
|06||2.39||3.05||Quartz vein and stockwork|
|07||2.21||2.92||Quartz vein and stockwork|
The drilling will proceed will one drill rig. Holes will initially be spaced by 50 meters laterally. A first series of holes will target the 50 meter level and a second series the 100 meter level (100 m below surface). The main objective is to define the lateral extension of the structure as it was only possible to uncover it over 38 meters due to thick overburden on both ends of the trench.
Mr. Louis Morin, CEO, states: “This drill program on our Fecteau property will focus on the totally new zone, recently discovered during our 2017 trenching program. This program will allow us to verify the zone extension, where trenching was not possible, and it will provide us with information to prepare for the next exploration program phase.“
Fecteau is a gold property which consists of 90 mining claims covering an area of 5,078 hectares located in the highly prospective Urban-Barry greenstone belt, 30 kilometers east of the Osisko Mining Windfall Lake and Lynx projects. The property is easily accessible via a good network of logging roads. The area is underlain by rocks of Archean age of the Fecteau formation. The property contains 8 historical gold and base metals (Cu and Zn) occurrences with gold grades varying from 1 g/t to up to 8 g/t and was mainly explored for base metal deposits in the past. The property is surrounded by Osisko Mining claims.
Mr. Tony Brisson P.Geo. is acting as qualified person (as defined by NI 43-101) for Opus One and has reviewed and approved the scientific and technical information in this press release.
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
Visit Opus One’s website: www.OpusOneResources.com