ONGold Announces Updated Mineral Resource Estimate for the Monument Bay Gold Project, Manitoba
Original announcement by newsfile on
- Company
- ONGold Resources Ltd.
- Ticker
- ONAU
- Exchange
- Unavailable
- Region
- Manitoba
- Primary commodity
- Gold
- Secondary commodities
- Tungsten
- Document categories
- Resource update, Drill results
- Extracted
- 2026-09-14 11:48:01 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
ONGold has announced an updated Mineral Resource Estimate for the Monument Bay Gold Project in Manitoba, totaling 98.85 million tonnes of gold at 0.76 g/t Au (combined M&I and Inferred). The update features a strong Measured and Indicated component of 2.0 million ounces and highlights new tungsten assay results from historical samples within high-grade gold zones.
Reasoning: The update provides a significant 2.0 Moz M&I gold resource with high confidence (80% M&I) and identifies a secondary tungsten opportunity.
Positive factors
- Substantial M&I resource of 2.0 Moz gold
- High M&I percentage (80%)
- Identification of tungsten potential in high-grade gold domains
- Expansion potential identified below and beyond current pit shell
Negative factors
- Tungsten not included in current MRE
Facts used in scoring: 9
Classification and evidence
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The MRE was prepared in accordance with NI 43-101 standards.
Evidence · text
“in accordance with... National Instrument 43-101”
Bonanza Interceptpositive
Exceptionally high-grade zone, well above the deposit-type norm.
Why it applies: 22.30 g/t Au is exceptionally high grade for the deposit context.
Evidence · table
“22.30”
Context: 0.65
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The release reports 24.46 million tonnes of Inferred Mineral Resources.
Evidence · text
“Inferred Mineral Resources: 24.46 million tonnes at 0.62 g/t Au”
Extracted facts
Stored fact records: 9. Some facts used in scoring do not have a stored record.
Drill Results (2)
Fact 1goldGrade: 22.3Grade Unit: g/tIntercept: 0.65 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- gold
- Region
- canada_mb
- Reported Region
- canada_mb
- Ticker
- ONAU
Geometry
- Grade
- 22.3
- Grade Unit
- g/t
- Intercept
- 0.65 m
- From
- 144.9 m
- To
- 145.55 m
- Intercept Depth
- 144.9 m
Classification
- Sample Type
- drill
- Group ID
- TL-20-703:144.9-145.55
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Very high grade gold intercept in a historical sample.
Positive factors
- Bonanza grade intercept
Evidence · table
“22.30”
Context: 0.65
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Fact 2tungstenGrade: 2700Grade Unit: ppmIntercept: 0.65 mNeeds review: drill_no_hole_idView all detailsHide details
Identity
- Commodity
- tungsten
- Region
- canada_mb
- Reported Region
- canada_mb
- Ticker
- ONAU
Geometry
- Grade
- 2700
- Grade Unit
- ppm
- Intercept
- 0.65 m
- From
- 144.9 m
- To
- 145.55 m
- Intercept Depth
- 144.9 m
Classification
- Sample Type
- drill
- Group ID
- TL-20-703:144.9-145.55
QA/QC
- QA/QC Disclosed
- Yes
- QP Signed
- Yes
- QA/QC Methods
- standards, blanks
Review
- Needs Review
- Yes
- Review Reason
- drill_no_hole_id
- Interp. Status
- scored
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: High tungsten grade in a historical sample, supporting tungsten potential.
Positive factors
- Significant tungsten grade coincident with high-grade gold
Evidence · table
“2,700”
Context: 0.65
Tags used in scoring
QA/QC Disclosedpositive
Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods (blanks, standards, duplicates).
Why it applies: qaqc_disclosed is true
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
Resource Estimates (7)
measuredMonument Bay Gold Project · goldTonnes: 18859000Grade: 1Grade Unit: g/tContained Metal: 606Contained Unit: kozView all detailsHide details
Identity
- Project
- Monument Bay Gold Project
- Commodity
- gold
- Region
- canada_mb
- Reported Region
- Manitoba
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Souvik Banerjee
- Resource group id
- resource:52ec4e7828a87fdee049
- Deposit or zone
- Monument Bay
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 18859000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 606
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-31
Lab
- Laboratory
- Actlabs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Measured resource component of a significant gold project.
Positive factors
- High grade for measured category
Evidence · table
“1.00”
Context: 18,859
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMonument Bay Gold Project · goldTonnes: 55531000Grade: 0.79Grade Unit: g/tContained Metal: 1403Contained Unit: kozView all detailsHide details
Identity
- Project
- Monument Bay Gold Project
- Commodity
- gold
- Region
- canada_mb
- Reported Region
- Manitoba
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Souvik Banerjee
- Resource group id
- resource:eb815c5b46105566c330
- Deposit or zone
- Monument Bay
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 55531000
- Grade
- 0.79
- Grade Unit
- g/t
- Contained Metal
- 1403
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-31
Lab
- Laboratory
- Actlabs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Indicated resource component contributing to the 2.0 Moz M&I total.
Positive factors
- Large indicated tonnage
Evidence · table
“0.79”
Context: 55,531
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredMonument Bay Gold Project · goldTonnes: 24456000Grade: 0.62Grade Unit: g/tContained Metal: 491Contained Unit: kozView all detailsHide details
Identity
- Project
- Monument Bay Gold Project
- Commodity
- gold
- Region
- canada_mb
- Reported Region
- Manitoba
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- QP Signed
- Yes
- Qualified person names
- Souvik Banerjee
- Resource group id
- resource:8778ddceefc4593779a5
- Deposit or zone
- Monument Bay
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 24456000
- Grade
- 0.62
- Grade Unit
- g/t
- Contained Metal
- 491
- Contained Unit
- koz
- Cutoff Grade
- 0.2
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-31
Lab
- Laboratory
- Actlabs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Inferred resource component providing additional upside.
Positive factors
- Adds significant ounces to the project
Negative factors
- Speculative category
Evidence · table
“0.62”
Context: 24,456
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
measuredMineral Resource Statement for the Monument Bay · goldTonnes: 18859000Grade: 1Grade Unit: g/tContained Metal: 606Contained Unit: kozView all detailsHide details
Identity
- Project
- Mineral Resource Statement for the Monument Bay
- Commodity
- gold
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:a783cf5da0c84e3a7fbd
- Mining method
- open_pit
Resource Data
- Category
- measured
- Tonnes
- 18859000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 606
- Contained Unit
- koz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“1.00”
Context: 18,859
Tags used in scoring
Measured Resourcepositive
Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves.
Why it applies: category is "measured"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMineral Resource Statement for the Monument Bay · goldTonnes: 55531000Grade: 0.79Grade Unit: g/tContained Metal: 1403Contained Unit: kozView all detailsHide details
Identity
- Project
- Mineral Resource Statement for the Monument Bay
- Commodity
- gold
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:7906b5e3871be4628fd7
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 55531000
- Grade
- 0.79
- Grade Unit
- g/t
- Contained Metal
- 1403
- Contained Unit
- koz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.79”
Context: 55,531
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
indicatedMineral Resource Statement for the Monument Bay · goldTonnes: 74390000Grade: 0.84Grade Unit: g/tContained Metal: 2009Contained Unit: kozView all detailsHide details
Identity
- Project
- Mineral Resource Statement for the Monument Bay
- Commodity
- gold
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:d6ae3f68ed2eae941b47
- Mining method
- open_pit
Resource Data
- Category
- indicated
- Tonnes
- 74390000
- Grade
- 0.84
- Grade Unit
- g/t
- Contained Metal
- 2009
- Contained Unit
- koz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.84”
Context: 74,390
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
inferredMineral Resource Statement for the Monument Bay · goldTonnes: 24456000Grade: 0.62Grade Unit: g/tContained Metal: 491Contained Unit: kozView all detailsHide details
Identity
- Project
- Mineral Resource Statement for the Monument Bay
- Commodity
- gold
- Ticker
- ONAU
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:6bbfdd440cf209792904
- Mining method
- open_pit
Resource Data
- Category
- inferred
- Tonnes
- 24456000
- Grade
- 0.62
- Grade Unit
- g/t
- Contained Metal
- 491
- Contained Unit
- koz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-14T00:00:00.000Z
Reasoning: Expanded from multi-commodity resource table for completeness.
Negative factors
- Fact expanded from resource table columns (model omitted this commodity).
Evidence · table
“0.62”
Context: 24,456
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.