Vancouver, British Columbia — February 18, 2026 — Leads & Copy —
Onyx Gold Corp. has announced additional drill results from its ongoing 75,000-meter drill program at the 100%-owned Munro-Croesus Project, located 75 km east of Timmins, Ontario.
The results from six drill holes at the Argus Main Zone continue to highlight the scale and strength of a broad, near-surface gold system. The western extension, located 100 m south of the Argus North Zone, returned gold mineralization in all six holes, confirming continuity and expansion potential.
Drilling intersected wide zones of gold starting near the surface, supporting the opportunity for a potential bulk-tonnage target at Argus Main, while Argus North continues to demonstrate higher-grade potential. Gold has been identified within fine-grained metasediments of the Porcupine Group for the first time, further expanding the footprint of mineralization.
These results strengthen the company’s growth thesis at Argus, offering a dual opportunity of both higher-grade zones and broad, near-surface mineralization. Structural modelling suggests that these styles of mineralization could repeat along the broader corridor, pointing to district-scale expansion potential.
Highlights from Argus Main include:
59.7 m grading 1.0 g/t Au, in drill hole MC25-255, including 18.4 m grading 2.0 g/t Au.
73.1 m grading 0.8 g/t Au, in drill hole MC25-247, including 11.5 m grading 2.1 g/t Au.
47.0 m grading 0.8 g/t Au, in drill hole MC25-245, including 7.8 m grading 2.5 g/t Au.
25.6 m grading 0.7 g/t Au, in drill hole MC25-258, including 7.0 m grading 2.0 g/t Au.
29.5 m grading 0.5 g/t Au, in drill hole MC25-250, including 12.5 m grading 1.0 g/t Au.
The company has completed 110 drill holes to date, totaling over 40,000 m as part of its 75,000 m Phase I/II/III drill program. Assays have now been announced for 67 holes.
The company has a clear path forward to fully evaluate the scale of the Argus Zones and test both proximal and regional targets on the Munro-Croesus Project. With $27 million in the treasury, the company remains fully funded to continue advancing its 2026 exploration programs.
The company has posted a complete table of all disclosed drill holes with significant assay intersections from the Argus Zone including drill collar locations, azimuths and dips on the company’s web site.
According to Brock Colterjohn, CEO, the Argus is evolving into a gold system with multiple avenues for growth, citing a compelling two-pronged opportunity emerging: broad near-surface mineralization at Argus Main that could support bulk-tonnage potential, alongside higher-grade mineralization at Argus North.
Colterjohn added that both zones remain open and continue to grow with each round of drilling and noted that the scale is exciting, with the Argus Zones outlining mineralization over approximately 900 m of strike and more than 400 m vertically with all still open along strike and down-plunge.
The broader structural corridor that hosts Argus extends well beyond the current drilling, offering significant room for expansion. Colterjohn said that the goal is to demonstrate the potential for a meaningful gold inventory at Munro-Croesus and that with $27 million in the treasury and a fully funded 75,000-m program underway, the company believes it is still in the early stages of building something substantial in the Timmins Gold Camp.
The company’s ongoing 75,000-m Phase I/II/III drill program at Munro-Croesus continues to demonstrate that Argus is not a single-zone discovery but an emerging multi-style gold system with multiple pathways to grow ounces.
The program advances six goals simultaneously:
Argus North continues to show strong vertical continuity and a defined west-northwest plunge direction. The zone of higher-grade gold mineralization remains open along strike and down-plunge, where drilling continues to intersect wide zones of +5 g/t Au within broader envelopes of +1 g/t Au. Argus North currently represents the potential backbone of a future high-grade open-pit and underground operation.
Argus Main now defines a > 900 m x 200 m near-surface gold zone with consistent 0.5-1.0 g/t Au mineralization and internal higher-grade intervals. The western extension results strengthen the continuity and grade profile of this zone, presenting a potential open-pit mining scenario in close proximity to Argus North.
The recent discovery of Argus West demonstrates the potential for repetition of Argus-style mineralization within a new structural corridor. The Argus Fault is emerging as a key northeast-trending structure that appears to act as a locus for gold deposition. Ongoing step-outs along strike and down-dip are testing the continuity of this zone and evaluating the broader structural corridor. Argus West materially expands the exploration runway and confirms that the Argus system is not confined to a single structure.
Structural modelling suggests that similar controlling northeast-trending structures extend across the Argus Zones and along the regional Pipestone Fault. Onyx controls 8 km of strike extent of the Pipestone Fault, providing a multi-kilometer structural corridor capable of hosting additional repetitions of both high-grade and bulk-tonnage mineralization.
Ongoing work continues to evaluate the potential for additional near-surface high-grade vein systems at GM and C-Zone.
Onyx is evaluating high-value regional targets, north of the Pipestone Fault within mafic volcanic settings analogous to the Argus Zones, and south of the Pipestone Fault targeting felsic intrusives within Porcupine Group metasedimentary rocks.
Gold mineralization at Argus Main is associated with silicified mafic variolitic volcanic flows cut by east-northeast-trending pyritic veinlets within a broader halo of carbonate alteration and local development of specular hematite.
Highlights from past drilling by the company include 63.3 m grading 1.0 g/t Au, including 17.4 m grading 2.2 g/t Au in MC24-166, 62.8 m grading 0.8 g/t Au within 136.0 m grading 0.5 g/t Au in MC22-110 and 27.6 m grading 1.0 g/t Au in MC23-140. The company recently reported additional intercepts from Argus Main including 66.6 m of 0.4 g/t Au and 16.0 m of 1.1 g/t Au in MC25-211.
The six drill holes released were focused on the western extension of the Argus Main Zone, in the area 100 m south of the high-grade Argus North Zone. Recent structural interpretations suggested that the same northeast-controlling structures present at the Argus North Zone were also present at the Argus Main Zone.
The results of the drilling were positive with widespread, near-surface gold mineralization intersected in all six holes and hosted within mafic variolitic and fragmental basalts, and for the first time, within fine-grained metasedimentary rocks of the Porcupine Group, immediately south of the Pipestone Fault.
Drilling to date at the Argus Zones continues to show widespread gold mineralization in a variety of host lithologies and styles. The zones show excellent vertical continuity of gold mineralization over a total strike length of 900 m and to over 400 m vertical depth. The higher-grade gold mineralization appears to plunge west-northwest based on drill hole assays and structural modelling. The Argus Zones remains open along strike, down-dip, and down-plunge, and the opportunity to expand the zones through ongoing drilling is considered to be excellent.
The ongoing drill results continue to reinforce the company’s exploration thesis that Argus area has the potential to host both high-grade mineralization at the primary Argus North Zone, and also secondary bulk-tonnage-style mineralization at Argus Main that may be amenable to open-pit mining and bulk underground mining.
Onyx Gold Corp. is a Canadian exploration company focused on unlocking district-scale gold opportunities in two of the country’s mining jurisdictions – Timmins, Ontario, and Yukon Territory.
In the Timmins Gold Camp, Onyx controls an extensive portfolio anchored by the Munro-Croesus Property, host to the historic high-grade Croesus Mine and site of the company’s recent Argus North discovery – one of the new gold zones emerging in the camp. Complementing Munro-Croesus are two large, early-stage projects – Golden Mile and Timmins South.
Beyond Ontario, Onyx holds a commanding land position across four properties in Yukon’s Selwyn Basin.
Led by an experienced team with a strong track record of discovery, development, and value creation, Onyx Gold is funded and committed to delivering shareholder value through exploration, strategic growth, and responsible resource development.
Source: Onyx Gold
