Onyx Gold’s Yukon property is located in the Selwyn Basin in the western Yukon and consists of four separate properties totalling 1105 claims and 22,720 hectares (227 square kilometres) (see Map 1, below) referred to as: King Tut, Canol, RGS and Stan.
The most advanced of the properties is King Tut, located 10 km south of Snowline Gold’s Selwyn Basin land package and 50km from Snowline’s ‘Reduced Intrusive Related Gold’ discovery made in June 2021. At Onyx Gold’s King Tut property, past exploration work outlined multi-kilometer long gold-in-soil anomalies (see Map 2, below) including an open-ended one-kilometer by one-kilometer gold anomaly associated with the upper carapace of an intrusive body with no prior drilling.
Onyx Gold’s technical team believes that the King Tut property represents one of the best undrilled intrusive-related gold-in-soil anomalies not already controlled by Snowline Gold in this emerging new district.
| Location | Selwyn Basin, Yukon Territory |
| Ownership | 100% |
| Status | Completed 2024 field mapping program |
| Deposit Type | Reduced Intrusive Related Gold |
| Property Size | 1,023 claims and 21,000 hectares (210 square kilometres) |
| Host Rock | Hornfels mudstone, siltstone and minor quartzite with local banded carbonate |
| Age | Cretaceous-age granitic intrusions and Ordovician to Triassic sedimentary rocks |
| Main Economic Elements | Gold |
The properties were staked in 2010 and 2011 as part of a major gold-focused grassroots exploration program in Yukon’s Selwyn Basin carried out under a 50:50 joint venture between Constantine Metal Resources and Carlin Gold Corporation. The original staking focused on areas with regional geochemical stream silt anomalies with elevated gold and pathfinder element anomalies with subsequent work including the collection of over 12,000 soil, stream sediment and rock samples across the greater land package.
HighGold acquired its initial 50% interest in the properties during the Company’s formation through the Plan of Arrangement ‘spin-out’ from Constantine in 2019. In 2022, HighGold acquired Carlin Gold’s 50% in 2022 and subsequently spun out these properties into Onyx Gold in 2023. Prior to the spinout into Onyx Gold, portions of the large property package were optioned off to Fireweed Zinc and Snowline Gold Corp., with Onyx Gold receiving certain Net Smelter Royalty (NSR) rights and shares of each company. Onyx Gold now holds 100% ownership of these properties, highlighted by the King Tut property that is host to the biggest and best soil anomaly of the portfolio. The four properties are all located within reasonable proximity to the North Canol Road, the main access road to this part of the Yukon Territory.
In May 2024, Onyx announced the strategic acquisition of the WEAS property in the Yukon. The 627-hectare land package comprising the Property is located within the King Tut Property. This acquisition consolidates the King Tut Property and provides the Company full control of the two mineralized intrusions on the King Tut Property, the WEAS intrusion and the Golden Mask intrusion located 9 km to the west. In July 2024, a small field program was commenced on the Company’s Yukon properties to conduct field mapping, prospecting, rock and soil sampling as well as target planning for future drill programs.
