Highlights Ra's high-grade potential and expanded targets for next year's drilling.

Onyx Gold Corp. Nov. 11 announced the final results from its 2024 summer field program at the King Tut property in Yukon, Canada, where work on both the Golden Mask and Ra intrusions delivered promising high-grade gold results, setting the stage for a significant drilling campaign in 2025.

Located approximately 50 kilometers (31 miles) southeast of Mayo, King Tut is a 21,000-hectare (51,892-acre) property situated within the highly prospective Tombstone Gold Belt in eastern Yukon.

Acquired in mid-2023, King Tut was one of several properties spun out from previous Alaskan gold explorer HighGold Mining Inc., which aimed to consolidate its Yukon and Ontario exploration assets under a new explorer.

In addition to King Tut, Onyx Gold holds three other properties in eastern Yukon – RGS, Canol, and Stan – as well as three gold exploration properties in the Timmins area of Ontario, including the renowned Munro-Croesus Gold property.

Kicking off its program in early summer 2024, Onyx aimed to build upon the maiden drill program conducted shortly after its formation in 2023, which included nine holes drilled over a total of 2,123 meters.

The program focused on the Golden Mask and Ra intrusions at King Tut and involved rock and soil sampling, detailed geological mapping, and reprocessing airborne magnetic data – work that expanded the known gold-in-soil anomaly by more than 1,400 meters, returned a surface sample of 25.1 grams per metric tons gold, identified promising new vein fields, and refined future drill targets.

"The results from this year's program continue to reinforce our confidence in the untapped potential of the King Tut property," said Onyx Gold President and CEO Brock Colterjohn. "At Golden Mask, we've increased the gold-in-soil anomaly by more than 1,400 meters. At Ra, our first-ever field program discovered a new outcropping vein field grading up to 25.1 g/t Au, confirming the impressive gold potential of the property.

Located approximately eight kilometers east of Golden Mask, the Ra target also delivered promising results. Characterized by an extensive field of gold-bearing sheeted quartz veins, Ra returned grades of up to 25.1 g/t gold from surface sampling, emphasizing the vein system's potential.

This marked the first exploration of Ra since Onyx's acquisition in May 2024 and the first significant work since 1996.

Vein density mapping at Ra defined a vein field approximately 1,700 by 1,000 meters in size, with promising indications of increased gold grades towards the western margin of the intrusion.

According to Onyx, the presence of abundant oxidized sheeted quartz and quartz-arsenopyrite veins, supported by positive surface sampling results, suggests Ra could host high-grade mineralization.

In addition to the fieldwork, Onyx reprocessed airborne magnetic data collected in 2023 to generate 3D inversion models for both Golden Mask and Ra targets. This geophysical analysis provided deeper insights into subsurface geology, helping refine drill targets for the 2025 campaign.

Looking ahead to 2025, Onyx aims to execute a targeted drill campaign that prioritizes high-impact targets identified during this year's exploration. With promising surface sampling results at Ra and an expanded anomaly at Golden Mask, King Tut remains central to Onyx Gold's exploration plans and its efforts to unlock Yukon's mineral potential.

"Through airborne magnetic surveys, we have further sharpened our understanding of the potential structures at Golden Mask and Ra," added Colterjohn. "This work will enable us to prioritize new, high-impact targets and work is underway to incorporate these results into a refined drill program for the Yukon in 2025."