Onyx Gold(TSXV:ONYX)

Onyx Gold Corp.

Investor website: https://onyxgold.com/

About

Onyx Gold Corp. is a gold exploration company advancing a portfolio of highly prospective projects in tier-one Canadian mining jurisdictions—Timmins, Ontario and the rapidly emerging Selwyn Basin in Yukon Territory. The company is drilling the high-grade Munro-Croesus property and has made a new discovery at Argus North. Onyx also holds two district-scale properties: Golden Mile and Timmins South. In Yukon, Onyx controls four properties in the Selwyn Basin, which is gaining attention for its potential for large-scale, high-grade gold systems. The company is led by a seasoned board and technical team focused on exploration success and responsible resource development.

Verified company data

Cash position
27.0M
Shares outstanding
85,152,179
Fully diluted shares
91,075,508
Mineral resource
Project Overview: Munro-Croesus Gold The Munro-Croesus Gold Project is located approximately 75 kilometers (47 miles) east of Timmins, Ontario along Highway 101. This large, 100% owned land package includes the past-producing Croesus Mine, which yielded some of the highest-grade gold ever mined in Ontario. The highly prospective geology is proximal to the Porcupine-Destor Deformation Fault Zone and Pipestone Fault and located approximately three kilometres (1.9 miles) northwest and along trend of Mayfair Gold’s multi-million ounce Fenn-Gib gold deposit. Snapshot Location Matheson, Ontario, Canada Ownership 100% Status Active drill programs for 2025 Deposit Type Orogenic gold Property Size 108 square kilometers (67 square miles) Structural Break Porcupine-Destor and Pipestone Faults Host Rock Ultramafic sequences and Porcupine sediment-volcanic contact with high angle, north to northeast cross structures Main Economic Elements Gold Overview The Project is associated with the Porcupine-Destor Fault Zone, a significant regional gold-bearing structural break, which traverses northern Ontario and Quebec and has collectively produced over 110 million ounces of gold. The historic Croesus Mine, located on the project property, is famous for its bonanza grade gold production and five Croesus mine gold specimens currently held by the Royal Ontario Museum in Toronto, Canada which, collectively, weigh 85 pounds and contain 480.7 ounces of gold or 11,310 ounces gold per short ton (387,771 grams per t tonne). Multi-million ounce (under 1g/t gold) bulk tonnage gold deposits are also located in the immediate region of the project and include the Fenn-Gib gold project being developed by Mayfair Gold Corp. and the Tower Gold Project (Golden Highway and Garrison deposits) being developed by Moneta Gold Inc. The Black Fox underground gold mine operated by McEwen Mining is located 1.5 kilometers southwest of the project. History The Munro-Croesus property was part of the property spinout of the gold assets of Constantine Metals to HighGold Mining in July 2019. Subsequently, HighGold spun out these assets into Onyx Gold. In 2007, Constantine Metal Resources acquired a 100% interest, subject to a net smelter interest, in the 13 patented mining claims, two Crown mineral leases and two unpatented mining claims of the high-grade gold property, including the past-producing Croesus Mine. Prior to the acquisition of this property by Constantine, the Croesus Mine property had been in private hands since its discovery in 1914, except for brief periods when they were optioned by publicly traded companies. Historic production from the Croesus Mine between 1915 and 1936 was 14,859 ounces of gold mined from 5,333 short tons with an average grade of 2.78 ounces per ton gold (95.3 g/t gold). This production number did not include the ore that was mined and shipped in packing crates directly to the Royal Canadian Mint. Geology The Munro-Croesus property is underlain by sedimentary rocks of the Porcupine assemblage to the south, and by mafic/ultramafic volcanic rocks of the Upper Kidd-Munro assemblage to the northeast. Gold mineralization across the property can be broadly characterized as structurally-controlled orogenic gold mineralization within an Archean greenstone belt setting. These types of deposits are typically hosted by quartz-carbonate veins and are located along crustal-scale fault zones in deformed greenstone terranes. Most of the known gold occurances on the project are associated with an eight kilometer (five mile) northwest trending segment of the Pipestone Fault, which is a splay of the Porcupine-Destor Fault Zone, a major regional structure that extends for approximately 200 kilometers (124 miles) westward from Destor (Quebec) to Timmins (Ontario). In the region of the Project, the Porcupine-Destor Fault Zone exhibits a large-scale flexure or bend associated with two major splays, the aforementioned Pipestone Fault and Munro Fault. Exploration Current exploration programs represent the first significant work on the property in over 90 years, following a major land consolidation effort by Onyx Gold and its immediate predecessors. Between 2020 and 2025, more than 30 separate land acquisitions were completed, expanding the land position by over 200%. The 2025 program is significantly expanded, with 25,000 meters of drilling planned to follow up on multiple emerging zones. This includes step-out drilling at Argus North, where discovery hole MC25-163 intersected 69.6 meters of 3.4 g/t gold, including 34.5 meters of 5.4 g/t gold—highlighting the potential for broad, near-surface mineralization. The program also includes mechanical stripping, mapping, and sampling to refine additional targets across the broader Munro-Croesus property. Argus North Zone The Argus North Zone is a new discovery located on the western half of the Munro-Croesus project: Hole MC24-163, the discovery drill hole at Argus North (see April 10, 2025 news release) returned 69.6 m grading 3.4 g/t Au, including 34.5 m grading 5.4 g/t Au, including 9.5 m grading 13.9 g/t Au. Results from initial follow-up drilling include 208.0 m grading 2.3 g/t Au including 54.4 m grading 3.3 g/t Au and 24.9 m grading 5.2 g/t Au in drill hole MC25-232 (see November 17, 2025 news release), 52.2 m grading 2.2 g/t Au including 5.2 m of 5.1 g/t Au in drill hole MC25-178 (see July 23, 2025 news release), and 91.0 m grading 1.8 g/t Au including 32.0 m grading 4.0 g/t Au in drill hole MC25-168 (see Jun 26, 2025 news release). A new fully-funded 50,000 m program is underway, utilizing three drill rigs (see November 13, 2025 news release). The Company has completed a 25,000 m campaign, (81 holes—36 reported to date) marking the largest drill program in the property’s history, and one of the most significant ongoing exploration programs in the Timmins Gold Camp Argus Zone 2024 drill results included 0.99 g/t gold over 63 meters in hole MC24-166. This intersection included 17.4 meters at 2.18 g/t gold (see press release dated June 17, 2024). Five of six holes drilled at the Argus Zone intersected significant intervals of gold mineralization, which are open to expansion in multiple directions, including to the west toward the intersection of the Argus Zone trend with the regional Pipestone Fault. The Argus Zone is characterized by silicified mafic variolitic volcanics cut by northeast-trending pyritic veinlets within a broader halo of carbonate alteration and local development of specular hematite. GM Vein Discovery A total of 25 holes (MC24-143 to 167) totaling 3,311 m were drilled on the Munro-Croesus Project in the spring of 2024, including 20 holes totaling 1,731 m on the GM Vein and five (5) holes totaling 1,580 m on the Argus Zone. Approximately 84% of drill holes at the GM Vein intersected mineralization greater than 0.5 g/t Au. Ten drill holes intersected mineralization over 10 g/t Au. 2023 drilling resulted in a new high-grade vein discovery. Hole MC23-132 intersects 363.0 g/t (10.59 opt) Au over 0.3m within a broader interval of 121.8 g/t (3.55 opt) Au over 0.9m The drill hole intersected a 30-centimeter-wide quartz vein containing abundant visible gold Golden Mile Greenfields exploration project available for option in the world class Timmins gold camp. This 140 square kilometre (54 square mile) property is located nine kilometers (5.6 miles) northeast of Newmont- Goldcorp’s multi-million-ounce Hoyle Pond deposit in the Timmins gold camp, northeast Ontario. The property covers the extension of the Pipestone Fault System on the north margin of the Timmins gold camp that has produced more than 55 million ounces of gold to date. Snapshot Location Timmins, Ontario, Canada Ownership 100% Status Available for option Deposit Type Orogenic gold Property Size 140 square kilometres (54 square miles) Structural Break Pipestone Fault (past production of 55 Moz) Host Rock Ultramafic volcanics in contact with a graphitic shear zone and pyritic argillite Age Precambrian (Neoarchean) Main Economic Elements Gold Overview The Golden Mile property is located on a major flexure of the important Pipestone Fault System where it crosses the “Porcupine Giant Mine Corridor” that has produced more than 55 million ounces of gold. Neighboring gold deposits on the north sediment contact/Pipestone Fault include Fenn-Gib (3.4 Moz), Clavos (+300Koz – 6 km to the east), Bradshaw (+1 Moz) and Lake Shore’s (Tahoe) Timmins West deposit (+1.9 Moz). History Relatively unexplored portion of a major structural break within the Timmins Gold Camp. Geology An overburden-covered structural intersection which contains excellent targets within the thick, folded and faulted ultramafic, mafic volcanic rocks and adjacent Porcupine sediments – a setting common to many Timmins Camp deposits. Exploration This project hosts a strong gold/arsenic anomaly in overburden till samples and la arge Lead-Silver-Nickel MMI (mobile metal ions) soil anomaly. A five-hole (1,182 meter) drill program was completed in 2014; two holes intersected a graphitic shear zone at the deformed unconformity between carbonate altered komatiites and Porcupine sediments (Timmins West Mine setting) along the interpreted Pipestone Fault. A four-hole (1,179 meter) drill program in 2020 successfully intersected the Pipestone Fault, yielding anomalous gold values, associated gold pathfinder geochemistry and veining in permissive rock units known to be important hosts for gold mineralization within the Timmins Camp. The know strike length of the Pipestone Fault on the project has now increased from 600 meters to over 2000 meters. Airborne magnetic/electromagnetic surveys have identified prominent structural breaks and multiple areas for drill targeting. An 85-kilometer overwater seismic survey was completed in 2022 on Frederickhouse Lake to map the depth of the sediment and bedrock to aid dril planning and interpretation of bedrock geology and structures. Frederickhouse Lake is a large, shallow (2-4 meters deep on average) man-made lake covering the interpreted structural intersection of the Pipeston Fault and the Porcupine Giant Mine Corridor. In 2025, approximately 1,500 metres reconnaissance drilling was completed at the 140 km2 Golden Mile property, targeting a key northern splay of the Pipestone Fault approximately 50km to the west. Status Seeking earn-in Joint Venture partnerships Projects Overview Munro-Croesus Gold Golden Mile Photo Gallery Timmins South Yukon Timmins South An early stage exploration project adjacent to the Dome Mine in the world class Timmins gold camp in Northeastern Ontario (formerly called Golden Perimeter). Snapshot Location Timmins, Ontario, Canada Ownership 100% Status Available for option – drill program completed in winter 2020 Deposit Type Intrusion-associated disseminated gold/sulfide (Main Block); Iron formation-associated gold (Shaw Block) Property Size Main Block: 102 square kilometres (39 square miles); West Block: 16 square kilometres (6 square miles); Shaw Block: 68 square kilometres (26 square miles). Host Rock Main Block: Monzonite intruded into lower Tisdale komatiites and mafic volcanic rocks on the south edge of the Shaw dome; Shaw Block: Deloro intermediate volcanics and iron formation, which is uncomfortably overlain by Tisdale tholeiitic mafic to intermediate volcanics and lesser felsic/intermediate volcanics and komatiitic ultarmafic flows in the core of the Shaw Dome. Age Precambrian (Neoarchean) Main Economic Elements Gold Overview The Timmins South property is located immediately south of the Porcupine-Destor Break and 7 kilometers (4.3 miles) southeast and bordering Newmont’s Dome Mine property. History This project includes several well-known high-grade gold occurrences. At the Bay Lake gold showing as 12-meter shaft was sunk in the 1930s on a 1.37 meter wide quartz vein, which returned composite samples of 150.8 g/t gold, 43.2 g/t gold and 35.17 g/t gold and historic grab samples of 766.2 g/t gold and 229.7 g/t gold (reference Ontario Geological Survey Inventory Record MDI42A06NE0017). *Note – grab samples by their nature are selective and not necessarily representative of the mineralization hosted on the property. Exploration Summer 2022 exploration program consisted of ground-truthing locations of historic drill collars, prospecting and geological mapping to follow up on historic surface sampling and drilling to generate targets for follow-up work. Samples contained elevated gold values along the southwest margin of a southeast striking iron formation at the Bay Lake and Turner showings. The 2022 rock sample grading 30 g/t gold supports the potential for high-grade gold in quartz-veined iron formation. Summer 2023 exploration program consisted of soil sampling and a drone-based airborne magnetic survey to follow up on known gold occurrences and to generate new targets. Status Exploration programs have consisted of ground-truthing locations of historic drill collars, prospecting and geological mapping to follow up on historic surface sampling and drilling to generate targets for follow-up work. No work planned for 2025. Yukon Onyx Gold’s Yukon property is located in the Selwyn Basin in the western Yukon and consists of four separate properties totalling 1105 claims and 22,720 hectares (227 square kilometres) (see Map 1, below) referred to as: King Tut, Canol, RGS and Stan. The most advanced of the properties is King Tut, located 10 km south of Snowline Gold’s Selwyn Basin land package and 50km from Snowline’s ‘Reduced Intrusive Related Gold’ discovery made in June 2021. At Onyx Gold’s King Tut property, past exploration work outlined multi-kilometer long gold-in-soil anomalies (see Map 2, below) including an open-ended one-kilometer by one-kilometer gold anomaly associated with the upper carapace of an intrusive body with no prior drilling. Onyx Gold’s technical team believes that the King Tut property represents one of the best undrilled intrusive-related gold-in-soil anomalies not already controlled by Snowline Gold in this emerging new district. Snapshot Location Selwyn Basin, Yukon Territory Ownership 100% Status Active 2025 field program Deposit Type Reduced Intrusive Related Gold Property Size 1,023 claims and 21,000 hectares (210 square kilometres) Host Rock Hornfels mudstone, siltstone and minor quartzite with local banded carbonate Main Economic Elements Gold Background on the Yukon Properties The properties were staked in 2010 and 2011 as part of a major gold-focused grassroots exploration program in Yukon’s Selwyn Basin carried out under a 50:50 joint venture between Constantine Metal Resources and Carlin Gold Corporation. The original staking focused on areas with regional geochemical stream silt anomalies with elevated gold and pathfinder element anomalies with subsequent work including the collection of over 12,000 soil, stream sediment and rock samples across the greater land package. HighGold acquired its initial 50% interest in the properties during the Company’s formation through the Plan of Arrangement ‘spin-out’ from Constantine in 2019. In 2022, HighGold acquired Carlin Gold’s 50% in 2022 and subsequently spun out these properties into Onyx Gold in 2023. Prior to the spinout into Onyx Gold, portions of the large property package were optioned off to Fireweed Zinc and Snowline Gold Corp., with Onyx Gold receiving certain Net Smelter Royalty (NSR) rights and shares of each company. Onyx Gold now holds 100% ownership of these properties, highlighted by the King Tut property that is host to the biggest and best soil anomaly of the portfolio. The four properties are all located within reasonable proximity to the North Canol Road, the main access road to this part of the Yukon Territory. 2025 Exploration Program & Ra Intrusion Highlights The Ra intrusion, last explored in 1996, hosts widespread, multigenerational, gold-bearing sheeted quartz veins within a 3 x 2 km exposed granitic body. In May 2024, Onyx entered into an option agreement to acquire the Ra Property (formerly WEAS), consolidating King Tut and providing full control of two mineralized intrusions — Golden Mask and Ra — located 9 km apart (see news release dated May 9, 2024). An initial reconnaissance program by Onyx in July 2024 confirmed an extensive sheeted vein field at Ra and returned a high-grade surface rock sample grading 25.1 g/t Au (see figures below). In early August, 2025, Onyx commenced a fly-camp-based, 21-day field program on the Ra target to systematically evaluate its extensive sheeted vein field through detailed alteration and vein mapping, as well as extensive rock and channel sampling (see news release dated Aug, 12, 2025).
Projects
["The Munro-Croesus Gold Project is located approximately 75 kilometers (47 miles) east of Timmins, Ontario along Highway 101. This large, 100% owned land package includes the past-producing Croesus Mine, which yielded some of the highest-grade gold ever mined in Ontario. The highly prospective geology is proximal to the Porcupine-Destor Deformation Fault Zone and Pipestone Fault and located approximately three kilometres (1.9 miles) northwest and along trend of Mayfair Gold’s multi-million ounce Fenn-Gib gold deposit.\n\nSnapshot\n\n| | |\n| --- | --- |\n| **Location** | Matheson, Ontario, Canada |\n| **Ownership** | 100% |\n| **Status** | Active drill programs for 2025 |\n| **Deposit Type** | Orogenic gold |\n| **Property Size** | 108 square kilometers (67 square miles) |\n| **Structural Break** | Porcupine-Destor and Pipestone Faults |\n| **Host Rock** | Ultramafic sequences and Porcupine sediment-volcanic contact with high angle, north to northeast cross structures |\n| **Main Economic Elements** | Gold |\n\nOverview\n\n- The Project is associated with the Porcupine-Destor Fault Zone, a significant regional gold-bearing structural break, which traverses northern Ontario and Quebec and has collectively produced over 110 million ounces of gold.\n\n- The historic Croesus Mine, located on the project property, is famous for its bonanza grade gold production and five Croesus mine gold specimens currently held by the Royal Ontario Museum in Toronto, Canada which, collectively, weigh 85 pounds and contain 480.7 ounces of gold or 11,310 ounces gold per short ton (387,771 grams per t tonne).\n\n- Multi-million ounce (under 1g/t gold) bulk tonnage gold deposits are also located in the immediate region of the project and include the Fenn-Gib gold project being developed by Mayfair Gold Corp. and the Tower Gold Project (Golden Highway and Garrison deposits) being developed by Moneta Gold Inc. The Black Fox underground gold mine operated by McEwen Mining is located 1.5 kilometers southwest of the project.\n\nHistory\n\n- The Munro-Croesus property was part of the property spinout of the gold assets of Constantine Metals to HighGold Mining in July 2019. Subsequently, HighGold spun out these assets into Onyx Gold. In 2007, Constantine Metal Resources acquired a 100% interest, subject to a net smelter interest, in the 13 patented mining claims, two Crown mineral leases and two unpatented mining claims of the high-grade gold property, including the past-producing Croesus Mine. Prior to the acquisition of this property by Constantine, the Croesus Mine property had been in private hands since its discovery in 1914, except for brief periods when they were optioned by publicly traded companies.\n\n- Historic production from the Croesus Mine between 1915 and 1936 was 14,859 ounces of gold mined from 5,333 short tons with an average grade of 2.78 ounces per ton gold (95.3 g/t gold). This production number did not include the ore that was mined and shipped in packing crates directly to the Royal Canadian Mint.\n\nGeology\n\n- The Munro-Croesus property is underlain by sedimentary rocks of the Porcupine assemblage to the south, and by mafic/ultramafic volcanic rocks of the Upper Kidd-Munro assemblage to the northeast.\n\n- Gold mineralization across the property can be broadly characterized as structurally-controlled orogenic gold mineralization within an Archean greenstone belt setting. These types of deposits are typically hosted by quartz-carbonate veins and are located along crustal-scale fault zones in deformed greenstone terranes.\n\n- Most of the known gold occurrences on the project are associated with an eight kilometer (five mile) northwest trending segment of the Pipestone Fault, which is a splay of the Porcupine-Destor Fault Zone, a major regional structure that extends for approximately 200 kilometers (124 miles) westward from Destor (Quebec) to Timmins (Ontario). In the region of the Project, the Porcupine-Destor Fault Zone exhibits a large-scale flexure or bend associated with two major splays, the aforementioned Pipestone Fault and Munro Fault.\n\nExploration\n\nCurrent exploration programs represent the first significant work on the property in over 90 years, following a major land consolidation effort by Onyx Gold and its immediate predecessors. Between 2020 and 2025, more than 30 separate land acquisitions were completed, expanding the land position by over 200%.\n\nThe 2025 program is significantly expanded, with 25,000 meters of drilling planned to follow up on multiple emerging zones. This includes step-out drilling at Argus North, where discovery hole MC25-163 intersected 69.6 meters of 3.4 g/t gold, including 34.5 meters of 5.4 g/t gold—highlighting the potential for broad, near-surface mineralization. The program also includes mechanical stripping, mapping, and sampling to refine additional targets across the broader Munro-Croesus property.\n\nArgus North Zone\n\nThe Argus North Zone is a new discovery located on the western half of the Munro-Croesus project:\n\n- Hole MC24-163, the discovery drill hole at Argus North returned 69.6 m grading 3.4 g/t Au, including 34.5 m grading 5.4 g/t Au, including 9.5 m grading 13.9 g/t Au.\n- Results from initial follow-up drilling include 208.0 m grading 2.3 g/t Au including 54.4 m grading 3.3 g/t Au and 24.9 m grading 5.2 g/t Au in drill hole MC25-232, 52.2 m grading 2.2 g/t Au including 5.2 m of 5.1 g/t Au in drill hole MC25-178, and 91.0 m grading 1.8 g/t Au including 32.0 m grading 4.0 g/t Au in drill hole MC25-168.\n- A new fully-funded 50,000 m program is underway, utilizing three drill rigs. The Company has completed a 25,000 m campaign, marking the largest drill program in the property’s history, and one of the most significant ongoing exploration programs in the Timmins Gold Camp.\n\nMunro-Croesus Cross-Section Looking Northeast – Argus North Zone\n\n![Nr Cross Section 242 243 Layout V8](https://wp-onyx-gold-2023.s3.ca-central-1.amazonaws.com/wp-content/uploads/2026/01/13121844/NR-Cross-Section-242-243-Layout-v8-scaled.jpg)\n\nMunro-Croesus 2025 Drilling Plan Map – Argus Zone\n\n![Argus Drill Map 242 243 V4](https://wp-onyx-gold-2023.s3.ca-central-1.amazonaws.com/wp-content/uploads/2026/01/13121855/Argus-Drill-Map-242-243-v4-scaled.jpg)\n\nArgus Zone – Long Section\n\n![Argus Ls 242 243 V3](https://wp-onyx-gold-2023.s3.ca-central-1.amazonaws.com/wp-content/uploads/2026/01/13121850/ARGUS-LS-242-243-v3-scaled.jpg)\n\n2024 drill results included 0.99 g/t gold over 63 meters in hole MC24-166. This intersection included 17.4 meters at 2.18 g/t gold.\n\nFive of six holes drilled at the Argus Zone intersected significant intervals of gold mineralization, which are open to expansion in multiple directions, including to the west toward the intersection of the Argus Zone trend with the regional Pipestone Fault.\n\nThe Argus Zone is characterized by silicified mafic variolitic volcanics cut by northeast-trending pyritic veinlets within a broader halo of carbonate alteration and local development of specular hematite.\n\nGM Vein Discovery\n\nA total of 25 holes (MC24-143 to 167) totaling 3,311 m were drilled on the Munro-Croesus Project in the spring of 2024, including 20 holes totaling 1,731 m on the GM Vein and five (5) holes totaling 1,580 m on the Argus Zone. Approximately 84% of drill holes at the GM Vein intersected mineralization greater than 0.5 g/t Au. Ten drill holes intersected mineralization over 10 g/t Au.\n\n2023 drilling resulted in a new high-grade vein discovery. Hole MC23-132 intersects 363.0 g/t (10.59 opt) Au over 0.3m within a broader interval of 121.8 g/t (3.55 opt) Au over 0.9m.\n\nThe drill hole intersected a 30-centimeter-wide quartz vein containing abundant visible gold."]
Leadership
Brock Colterjohn, B.Sc. (Geology), MBA. (President & CEO, Over twelve years of experience in the resource sector with expertise in equity capital markets, mineral exploration, and production geology in Canada and Mexico. Previously worked as a Mining Research Analyst and Mining Equity Sales Specialist.), Darwin Green, B.Sc., M.Sc., P.Geo. (Executive Chairman, Founder of Onyx Gold with over 20 years of experience in the mineral deposit industry across North America and Latin America. Proven record in identifying opportunities and executing advanced exploration.), Ian Cunningham-Dunlop, B.Sc., P. Eng. (Executive Vice President, Seasoned mining executive with over 35 years of experience in mineral exploration and project development.), Conor McKinley, M.Sc., P.Geo. (Vice President, Exploration, Experienced in gold and base metal exploration projects since 2006, previously served as Senior Geologist and Ontario Project Manager for HighGold Mining.), Aris Morfopoulos, B.Comm. (Hons.) (Chief Financial Officer, Executive and accountant with over 30 years of corporate management experience in junior resource companies.), Vanessa Pickering (Vice President, Investor Relations, Over 20 years of experience in mineral exploration and mining sector focusing on investor relations and corporate communications.)

Verified data last updated: 2026-05-15

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