# ONGold Announces Updated Mineral Resource Estimate for the Monument Bay Gold Project, Manitoba Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54 Original source: https://ongoldresources.com/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-project-manitoba/ Publisher: prospectors\_exchange Original announcement: 2026-09-14T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-16T17:03:47.108Z Atlas analysis updated: 2026-09-16T17:03:47.108Z - Company: ONGold Resources Ltd. - Ticker: ONAU - Exchange: Unavailable - Region: Manitoba - Primary commodity: Gold - Secondary commodities: Tungsten - Document categories: Drill results, Resource update - Extracted: 2026-09-16 17:03:47 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary ONGold Resources has announced an updated Mineral Resource Estimate for the Monument Bay Gold Project in Manitoba, effective July 31, 2026. The update reports 74.39 Mt at 0.84 g/t Au \(Measured and Indicated\) and 24.46 Mt at 0.62 g/t Au \(Inferred\), totaling approximately 2.5 million ounces of gold. The release also highlights significant tungsten potential identified through recent re-logging and assaying of historical samples. Reasoning: Significant update to a 2.5 Moz gold resource with high M&I confidence and new tungsten potential. - Positive factor: Substantial M&I resource \(80% of total\) - Positive factor: Updated geological model improves understanding - Positive factor: Identified potential for tungsten resource expansion - Positive factor: Open at depth and along strike - Negative factor: Tungsten not included in current MRE - Negative factor: Relies on historical data for some components Facts used in scoring: 5 ## Classification and evidence **NI 43-101 Compliant** Polarity: positive Definition: 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 **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The release describes an updated MRE, but the context of 'updated' and 'historical' suggests it is a revision of an existing resource rather than a maiden one. Evidence · text > announces an updated Mineral Resource Estimate ## Extracted facts Stored fact records: 5. Some facts used in scoring do not have a stored record. ## Drill Results (3) ### TL16-575 [Link to this fact](https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54#fact-drill-facts-2) Monument Bay · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TL16-575 - Project: Monument Bay - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: ONAU #### Geometry - Grade: 163.92 - Grade Unit: g/t - Intercept: 2.75 m - From: 171.25 m - To: 174 m - Intercept Depth: 171.25 m #### Classification - Sample Type: drill - Group ID: TL16-575:171.25-174 #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-03-02T00:00:00.000Z #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Exceptional grade intercept, though historical. - Positive factor: Extremely high grade - Negative factor: Historical data Evidence · text > 163.92 g/t Au over 2.75 metres #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: 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 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 **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### TL16-575 [Link to this fact](https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54#fact-drill-facts-3) Monument Bay · gold Historical result Needs review: historical\_restatement #### Identity - Hole ID: TL16-575 - Project: Monument Bay - Commodity: gold - Region: canada\_mb - Reported Region: canada\_mb - Ticker: ONAU #### Geometry - Grade: 6.15 - Grade Unit: g/t - Intercept: 132 m - From: 151 m - To: 283 m - Intercept Depth: 151 m #### Classification - Sample Type: drill - Group ID: TL16-575:151-283 #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2026-03-02T00:00:00.000Z #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Significant historical intercept. - Positive factor: Strong grade over long width - Negative factor: Historical data Evidence · text > 6.15 g/t Au over a core length of 132.0 metres #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: 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 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 **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: the fact restates a prior release ### TL-20-714 [Link to this fact](https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54#fact-drill-facts-4) Monument Bay · tungsten Historical result Needs review: historical\_restatement #### Identity - Hole ID: TL-20-714 - Project: Monument Bay - Commodity: tungsten - Region: canada\_mb - Reported Region: canada\_mb - Ticker: ONAU #### Geometry - Grade: 4590 - Grade Unit: ppm - Intercept: 0.55 m - From: 131.9 m - To: 132.45 m - Intercept Depth: 131.9 m #### Classification - Sample Type: drill - Group ID: TL-20-714:131.9-132.45 #### QA/QC - QA/QC Disclosed: Yes - QP Signed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Interp. Status: scored - Historical: Yes - Historical Source Date: 2020-01-01T00:00:00.000Z #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: New tungsten assay from historical sample. - Positive factor: High grade tungsten Evidence · table > 4,590 Context: A0770622 #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: 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 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 ## Resource Estimates (2) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54#fact-resource-facts-0) Monument Bay · gold #### Identity - Project: Monument Bay - 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:15c5ec4851af40b6b1a3 - Deposit or zone: Monument Bay - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: indicated - Tonnes: 74390000 - Grade: 0.84 - Grade Unit: g/t - Contained Metal: 2 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Strong M&I component for an open-pit gold project. - Positive factor: High M&I percentage \(80% of total ounces\) - Positive factor: NI 43-101 compliant Evidence · text > 74.39 million tonnes at 0.84 g/t Au containing 2.0 million ounces of gold #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/ongold-announces-updated-mineral-resource-estimate-for-the-monument-bay-gold-pro--b002fb16-807f-45c0-bb66-686125f40f54#fact-resource-facts-1) Monument Bay · gold #### Identity - Project: Monument Bay - 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:3ce6e6deaeeb9927f58c - Deposit or zone: Monument Bay - Mining method: open\_pit - Resource basis: gross #### Resource Data - Category: inferred - Tonnes: 24460000 - Grade: 0.62 - Grade Unit: g/t - Contained Metal: 0.49 - Contained Unit: moz - Cutoff Grade: 0.2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-07-31 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-09-14T00:00:00.000Z Reasoning: Standard inferred component of a resource update. - Negative factor: Inferred category represents higher geological risk Evidence · text > 24.46 million tonnes at 0.62 g/t Au containing 0.49 million ounces of gold #### 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 Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: 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 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 **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: the release compares against a previous estimate ## 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.