OnGold Resources Three Million Ounces of Gold in Manitoba Canada
The Gold Bull Aug 27, 2026
Summary
Re-assaying 2017 Monument Bay drill core for tungsten could expand the historic 3M oz gold resource when the 43-101 update lands this fall.
An earn-in deal with Evolution Mining brings $7M of exploration spend and $1.1M in cash to OnGold without diluting shareholders.
A milestone payment of $5M kicks in if Monument Bay resource exceeds 4M oz, a real catalyst at the current $51M market cap.
The Ontario TPK property discovery hole of 8.2m @ 19.39 g/t gold adds earlier-stage upside beyond the flagship.
OnGold October property sits 35km on strike from IAMGOLD 19.1M oz Kotelak mine, lending district-style prospectivity to the JV ground.
Key points on Evolution Mining
- The guest notes Evolution Mining can earn up to a 75% interest in OnGold’s October property by spending $7M on the project and paying $1.1M in cash to OnGold.
- As of the August 2026 video, OnGold has optioned the October property out to Evolution Mining under that earn-in structure.
Key points on IAMGOLD
- The speaker cites IAMGOLD’s Kotelak Gold Mine, which hosts 19.1Moz of gold, as a nearby reference point — OnGold’s October property sits 35km on strike with it.
Michael Gentile's takeaways
- Top takeaway The guest flags Michael Gentile as a director at OnGold and a serial successful investor whose moves are worth tracking.
- Gentile took a large equity position in McFarlane Lake Mining roughly three months before the August 2026 video, and that stock has since more than tripled.
- The speaker treats Gentile’s recent buy as a useful signal for junior mining investors and urges viewers to pay attention to what he is doing next.