# ONGold Announces Updated Mineral Resource Estimate for the Monument Bay Gold Project, Manitoba Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb Original source: https://orestocks.com/company/ONAU.V/press-releases/6676689523671762 Publisher: orestocks Original announcement: 2026-09-14T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: ONGold Resources Ltd. - Ticker: ONAU.V - Exchange: Unavailable - Region: Manitoba - Primary commodity: Gold - Secondary commodities: Tungsten - Document categories: Resource update - Extracted: 2026-09-14 11:47:43 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary ONGold Resources Ltd. announced an updated Mineral Resource Estimate for its Monument Bay Gold Project in Manitoba, effective July 31, 2026. The estimate outlines 74.39 million tonnes at 0.84 g/t Au for 2.0 million ounces of gold in the Measured and Indicated categories, with an additional 24.46 million tonnes at 0.62 g/t Au for 0.49 million ounces in the Inferred category. The resource is open-pit constrained, reported above a 0.20 g/t Au cut-off, and incorporates a revised geological model, with 80% of contained gold in higher confidence categories. Reasoning: ONGold announced a significant updated Mineral Resource Estimate for its Monument Bay Gold Project, establishing a substantial 2.0 million ounce gold resource in the Measured and Indicated categories with high confidence, supported by a robust geological model and NI 43-101 compliance, although the high gold price assumption warrants caution. - Positive factor: Updated MRE establishes a substantial open-pit constrained gold resource of 2.0 million ounces in Measured and Indicated categories. - Positive factor: High confidence in the resource, with approximately 80% of contained gold classified as Measured and Indicated. - Positive factor: Estimate prepared by SRK Consulting and is NI 43-101 compliant with QP sign-off. - Positive factor: Updated geological model and structural interpretation improve understanding of mineralization controls. - Positive factor: Potential for future resource expansion as the deposit remains open at depth and along strike. - Positive factor: Tungsten identified as an under-evaluated critical mineral opportunity with potential for future resource evaluation. - Negative factor: The conceptual pit shell and cut-off grade use a high gold price assumption of US$3,000 per ounce, which may be considered aggressive. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 8 ## Classification and evidence **High M&I Percentage** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Approximately 80% of the contained gold in the 2026 MRE is classified as Measured and Indicated, indicating high confidence in the resource. Evidence · text > Approximately 80% of the contained gold in the 2026 MRE is classified as Measured and Indicated. **Potential for Tungsten** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Tungsten was not included in the 2026 MRE but is highlighted as an important additional exploration opportunity with recent work improving understanding of its distribution and association with gold. Evidence · text > While tungsten was not included in the 2026 MRE, ONGold's recent re-logging, infill sampling and pulp re-analysis program substantially improved the tungsten database and supports further evaluation of tungsten distribution, geological controls and its association with higher-grade gold mineralization. **Open at Depth** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The updated geological interpretation identified priority areas for additional resource drilling as the deposit remains open at depth. Evidence · text > The updated geological interpretation has greatly improved our understanding of the structural controls on mineralization and identified priority areas for additional resource drilling as the deposit remains open at depth. **QA/QC Disclosed** Polarity: positive Story-specific tag Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document includes a detailed section on 'Sampling, QA/QC and Analytical Methods', outlining procedures for blanks, standards, duplicates, and certified laboratories. Evidence · text > Quality assurance and quality control \("QA/QC"\) procedures were implemented to ensure all work is conducted in accordance with best practices. **Certified Lab** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Actlabs in Thunder Bay, Ontario, the primary analytical laboratory, is accredited to ISO/IEC 17025 and operates under an ISO 9001-certified quality management system. Evidence · text > Actlabs' Thunder Bay facility is accredited to ISO/IEC 17025 and operates under an ISO 9001-certified quality management system. ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-0) Monument Bay Gold Project · gold #### Identity - Project: Monument Bay Gold Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: ONAU.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Souvik Banerjee, P.Geo. - Resource group id: resource:349f7fe3ce86a0212027 - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 18859000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 606000 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Actlabs #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: The Measured resource of 606 koz gold contributes significantly to the overall high-confidence resource, reflecting strong geological understanding and compliance with industry standards, though the high gold price assumption is a consideration. - Positive factor: Significant Measured resource of 606 koz gold, representing the highest confidence category. - Positive factor: Part of a substantial 2.0 Moz M&I resource, indicating strong geological confidence. - Positive factor: Estimate prepared to NI 43-101 standards by SRK Consulting with QP sign-off. - Negative factor: The conceptual pit shell uses a high gold price assumption of US$3,000/oz. Evidence · table > 1.00 Context: 18,859 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-1) Monument Bay Gold Project · gold #### Identity - Project: Monument Bay Gold Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: ONAU.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Souvik Banerjee, P.Geo. - Resource group id: resource:a4aafd0eec554da2bffc - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 55531000 - Grade: 0.79 - Grade Unit: g/t - Contained Metal: 1403000 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Actlabs #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: The Indicated resource of 1.403 million ounces gold is a key component of the project's substantial M&I resource, demonstrating strong geological confidence and compliance with reporting standards, though the high gold price assumption is a notable factor. - Positive factor: Substantial Indicated resource of 1.403 million ounces gold, forming the majority of the M&I resource. - Positive factor: High M&I percentage \(80%\) for the overall resource indicates good geological confidence. - Positive factor: Estimate prepared to NI 43-101 standards by SRK Consulting with QP sign-off. - Negative factor: The conceptual pit shell uses a high gold price assumption of US$3,000/oz. Evidence · table > 0.79 Context: 55,531 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-2) Monument Bay Gold Project · gold #### Identity - Project: Monument Bay Gold Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: ONAU.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Souvik Banerjee, P.Geo. - Resource group id: resource:6f01fd8e1cc3e8006c22 - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 74390000 - Grade: 0.84 - Grade Unit: g/t - Contained Metal: 2009000 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Actlabs #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: The combined Measured and Indicated resource of 2.0 million ounces gold represents a significant and high-confidence asset for the project, adhering to industry reporting standards, though the high gold price assumption is a key consideration. - Positive factor: Substantial Measured and Indicated resource of 2.0 million ounces gold, establishing a strong foundation for the project. - Positive factor: High M&I percentage \(80%\) of contained gold indicates robust geological confidence. - Positive factor: Estimate prepared to NI 43-101 standards by SRK Consulting with QP sign-off. - Negative factor: The conceptual pit shell uses a high gold price assumption of US$3,000/oz. Evidence · table > 0.84 Context: 74,390 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-3) Monument Bay Gold Project · gold #### Identity - Project: Monument Bay Gold Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: ONAU.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: Souvik Banerjee, P.Geo. - Resource group id: resource:e1707e46963cf69fe38e - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 24456000 - Grade: 0.62 - Grade Unit: g/t - Contained Metal: 491000 - Contained Unit: oz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Lab - Laboratory: Actlabs #### Location - Loc. Confidence: medium #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: The Inferred resource of 0.49 million ounces gold provides additional potential for the project, adhering to NI 43-101 standards, but its lower confidence category and the high gold price assumption require further de-risking. - Positive factor: Adds 0.49 million ounces of gold to the overall resource base, indicating further potential. - Positive factor: Estimate prepared to NI 43-101 standards by SRK Consulting with QP sign-off. - Positive factor: Identified areas for follow-up drilling to potentially upgrade Inferred resources. - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone. - Negative factor: The conceptual pit shell uses a high gold price assumption of US$3,000/oz. Evidence · table > 0.62 Context: 24,456 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-4) Mineral Resource Statement for the Monument Bay · gold #### Identity - Project: Mineral Resource Statement for the Monument Bay - Commodity: gold - Ticker: ONAU.V #### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 1.00 Context: 18,859 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-5) Mineral Resource Statement for the Monument Bay · gold #### Identity - Project: Mineral Resource Statement for the Monument Bay - Commodity: gold - Ticker: ONAU.V #### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.79 Context: 55,531 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-6) Mineral Resource Statement for the Monument Bay · gold #### Identity - Project: Mineral Resource Statement for the Monument Bay - Commodity: gold - Ticker: ONAU.V #### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.84 Context: 74,390 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--22a6a2e3-f4ac-4eda-bef2-3e85a7ded4cb#fact-resource-facts-7) Mineral Resource Statement for the Monument Bay · gold #### Identity - Project: Mineral Resource Statement for the Monument Bay - Commodity: gold - Ticker: ONAU.V #### 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 factor: Fact expanded from resource table columns \(model omitted this commodity\). Evidence · table > 0.62 Context: 24,456 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **NI 43-101 Compliant** Polarity: positive Definition: 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.