Targa Exploration Corp. (CSE: TEX | OTCQB: TRGEF | FRA: V6Y), a Canadian exploration company focused on gold and lithium projects, announced that the next stage of exploration has begun at its 100%-owned flagship Opinaca Gold project in the James Bay region of Quebec. This phase is a crucial step in the company’s efforts to unlock the potential of the Opinaca project, which holds significant promise for gold discovery.
The exploration program is designed to build upon the company’s previous findings. Intensive prospecting and rock sampling will be conducted along a 7km target gold trend identified in earlier exploration phases. Additionally, the company is implementing a higher density grid of Heavy Mineral Concentrate (HMC) sampling, which involves analyzing the mineral content of sediment to pinpoint the source of gold. The goal is to identify the bedrock source of the gold that was previously found in local till samples, providing a clearer picture of the gold system and its potential extent.
This comprehensive exploration program is expected to be completed within a week and results are anticipated in mid to late October. The data collected will be instrumental in planning a maiden drill program, potentially scheduled for 2025.
Targa’s CEO, Cameron Tymstra, expressed enthusiasm about this next phase of exploration, stating, “We are excited to be back at Opinaca to explore the potential of our recently identified 7km target gold trend. Now that we know where to look, we have deployed a larger geology team for an intensive prospecting program and will be increasing the sample density of the HMC grid to further define the target trend. The team has made great progress at Opinaca since first identifying the project’s gold potential at the start of the year. This program is the next step in tracking down the source of gold seen in till and understanding the gold system that is suspected of lying somewhere in the target trend.”
The exploration program at Opinaca is being executed by project operator Kenorland Minerals and Targa’s geology team. A team of six geologists will be focusing their efforts on prospecting and mapping along the identified 7km target gold trend. They will be meticulously sampling boulders and outcrops, searching for the source rock unit that is hosting the gold previously discovered in HMC and till samples.
In addition to the geological work, a team of four will be collecting approximately 115 additional HMC samples along and down-ice from the target trend. This will further enhance the data obtained from the June HMC grid, which initially had a sample spacing of 1km x 500m. The new grid will be denser, with a spacing of 500m by 250m, providing a more detailed and refined understanding of the gold system.
The Opinaca Project, covering 85,267 contiguous hectares, is situated in the James Bay region of Quebec, approximately 40km south of Patriot Battery Metals’ Corvette lithium discovery. This location places Opinaca within proximity to key infrastructure, including the all-season Trans-Taiga Road and the Renard Diamond Mine. The project is located within the Opinaca geological sub-province, characterized by metasedimentary terrain with neoarchean-aged igneous intrusions. Till sampling conducted in 2023 uncovered a 5km x 4 km gold anomaly in the center of the project, along with a higher-grade gold anomaly to the east.
Targa Exploration Corp. is a Canadian company dedicated to exploring and developing gold and lithium mineral properties. The company’s project portfolio encompasses fifteen projects strategically located in Quebec, Ontario, Manitoba, and Saskatchewan, covering over 400,000 hectares of prospective ground. A significant portion of this ground has never been previously explored for lithium or gold, highlighting the potential for new discoveries.
The results of this exploration program are expected to provide valuable insights that will guide future development plans at the Opinaca Gold project, potentially leading to the realization of the project’s significant gold potential.
