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Opinaca Project
Opinaca is Targa’s flagship asset. Located in the James Bay region of Quebec, 50km south of the all-season Trans Taiga highway and high voltage powerline, it was acquired from Kenorland Minerals in 2022. Originally acquired for its lithium prospectivity, a regional till sampling program in 2023 uncovered two significant and distinct gold (Au-As-W-Sb) anomalies, demonstrating the potential for future discovery of orogenic gold deposits on the project. Additional claim staking in 2024 expanded the property to a total of 85,267ha covering the ground in the direction of historic glacial ice movement to cover any potential mineralized bedrock sources shedding gold into the till. Opinaca is subject to a 3% NSR held by Kenorland Minerals.
Opinaca Gold Anomaly
- In 2023, a 5km by 4km gold/arsenic/tungsten anomaly was discovered from a regional till sampling program at Opinaca while initially exploring the project’s lithium potential. A smaller anomaly was also identified about 10km to the east.
- Prior to 2023, there is no record of mineral exploration on the ground making up the Opinaca project.
- The Opinaca claim block was expanded in the up-ice direction from the two anomalies to cover potential bedrock sources of the gold values seen in the till sampling.
- Follow up work in June 2024 included infill till sampling and an expansion of the sample grid in the up-ice direction, with the goal of finding the head of the till anomaly. 10kg Heavy Mineral Concentrate (“HMC”) samples were taken over the anomaly as well and sent to the ODM lab in Ottawa for concentration and gold grain analysis under a microscope.
- In-fill till sampling and the HMC sampling identified a 7km east-west prospective trend at Opinaca. Elevated gold grain counts in the HMC samples were consistently seen down-ice from this trend line, suggesting the presence of a gold system buried along the trend.
- In many of the HMC samples, 25-50% of the gold grains are considered “pristine”, suggesting a short transportation distance from the source.
- An E-W lineament has been interpreted from regional magnetic data along the 7km trend line.
- Additional work in September 2024 included additional HMC sampling on a tighter grid spacing and an extensive boulder prospecting program.
- Anomalous (>0.1g/t Au) gold values were found in 12 boulders from multiple rock units, including up to 6.67g/t Au in a 20cm laminated quartz vein boulder.
- Next steps at Opinaca include airborne map and VLF geophysics survey to better understand the local geology and structure, in advance of a future maiden drill program.
