Key facts
| Company | Targa Exploration (CSE: TEX) |
|---|---|
| Commodity | Gold |
| Location | Canada |
| Stage | Early exploration |
About 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 gold deposits on the project. The property now covers 67,862ha and is subject to a 3% NSR held by Kenorland Minerals. A maiden drill program in 2025 consisting of 8 drill holes totalling 3,665m discovered widespread gold mineralization across a 4km-long area. Assays as high as 166.14g/t Au over 0.3m were encountered with 7 of 8 drill holes returning intercepts with values in excess of 1g/t Au.
News releases13 on file
TARGA ANNOUNCES COMPLETION OF PHASE 2 DRILL PROGRAM AT OPINACA
A Phase 2 diamond drill program totalling 4,317 metres in 10 holes (26OPDD009 to 26OPDD018) has been completed at the Opinaca gold project in Quebec's James Bay region, with 3,891 metres in nine holes on the Western target and 426 metres in one hole on the Eastern target. The program, operated by Kenorland, follows the 2025 maiden drill campaign discovery. A total of 3,598 drill samples went to Bu
Drill resultsTARGA COMMENCES DRILL PROGRAM AT OPINACA GOLD PROJECT, QUEBEC
Drilling has begun at the Opinaca gold project in Quebec's James Bay region, with 4,400m planned across 11 holes of 350-490m each, using two rigs. Seven holes (2,900m) are prioritized at the Western target across 5km of trend, including a completed three-hole fence 700m west of hole 25OPDD007, which returned 13.88g/t Au over 3.65m in 2025; two holes (800m) will test the never-drilled Eastern targe
Drill resultsTARGA ANNOUNCES CLOSE OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $1M
A private placement closed for aggregate gross proceeds of approximately C$1,007,375, through the issuance of 6,715,834 flow-through shares at C$0.15 per share. Net proceeds will fund exploration at the Opinaca gold project in the James Bay region of Quebec, with qualifying expenditures to be renounced effective no later than December 31, 2025 and incurred by December 31, 2026. Finders received C$
FinancingTARGA ANNOUNCES UPSIZED NON-BROKERED PRIVATE PLACEMENT OF FLOW THROUGH SHARES FOR GROSS PROCEEDS OF UP TO $950,000
A previously announced non-brokered private placement has been upsized to maximum gross proceeds of C$950,000, consisting of flow-through shares at C$0.15 per FT share, with closing anticipated on or about August 22, 2025. Net proceeds will fund exploration at the Opinaca gold project in Quebec's James Bay region, with qualifying expenditures renounced effective no later than December 31, 2025 and
FinancingTARGA ANNOUNCES NON-BROKERED $500,000 PRIVATE PLACEMENT OF FLOW THROUGH SHARES
A non-brokered private placement for gross proceeds of up to C$500,000 has been launched, consisting of flow-through shares priced at C$0.15 each. Net proceeds will fund exploration at the Opinaca gold project in Quebec's James Bay region, with qualifying expenditures renounced effective no later than December 31, 2025 and incurred by December 31, 2026. Closing is anticipated on or about August 22
FinancingTARGA ANNOUNCES PLANS FOR DRILL CAMPAIGN AT OPINACA GOLD DISCOVERY
A 4,500 to 5,000m diamond drill program in 12-15 holes of 350-400m each is planned for the Opinaca gold project in Quebec's James Bay region, following the 2025 maiden campaign that returned 13.88g/t Au over 3.65m in hole 25OPDD007 and 0.17g/t Au over 70.55m in 25OPDD004. Seven priority holes (2,900m) will test the Western zone, two holes (800m) the undrilled Eastern soil and HMC anomaly, with 1,3
Drill resultsTARGA IDENTIFIES 4KM-LONG MAGNETIC ANOMALY AT OPINACA GOLD TREND
An airborne magnetic survey at the Opinaca Gold Project in Quebec identified a magnetic anomaly roughly 4km long east-west, situated below the centre of a 7km gold-in-till trend defined by 2023 and 2024 sampling. ALS Goldspot Discoveries flew 902.1 line kilometres over four days at 50m line spacing, covering about 4,250ha. Targa has submitted drill permit applications and is working with Kenorland
Drill resultsTARGA ANNOUNCES CLOSE OF PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.6M
A previously announced private placement closed for aggregate gross proceeds of approximately C$2,611,200, comprising 6,650,200 hard dollar common shares at $0.10, 1,959,001 flow-through shares at $0.12 and 12,050,000 charity flow-through shares at $0.142. Finders received $104,400 in cash and 1,024,000 warrants exercisable at $0.25 until June 6, 2027; the hold period expires October 7, 2025. Proc
FinancingTARGA ANNOUNCES NEW, LARGER PRIVATE PLACEMENT OF UP TO $2.6M AND SHARE CONSOLIDATION
A new non-brokered private placement for gross proceeds of up to C$2,600,000 replaces the offering announced May 7, 2025, which has been cancelled with no shares issued. On a post-consolidation basis, up to approximately 20,640,000 shares will be sold at C$0.10 per hard dollar share, C$0.12 per flow-through share and C$0.142 per charity flow-through share, with closing expected on or about May 30,
FinancingTARGA MAKES GRASSROOTS DISCOVERY OF WIDESPREAD GOLD MINERALIZATION AT OPINACA INCLUDING UP TO 13.88g/t Au OVER 3.65m
The maiden drill program at the 100%-owned Opinaca Gold Project in Quebec, comprising eight diamond holes totaling 3,665 metres and operated by Kenorland Minerals, intersected gold in 7 of 8 holes across a 4-km target area with no prior drilling. Results include 13.88 g/t Au over 3.65m, including 166.14 g/t over 0.3m, in hole 25OPDD007, and 2.39 g/t Au over 4.79m in 25OPDD006. Alejandro Adams was
Drill resultsTARGA ANNOUNCES UPDATE AND OBSERVATIONS FROM OPINACA DRILL PROGRAM
More than ten grains of visible gold were observed at 460m in drill hole 25OPDD007 at the Opinaca Gold Project in Quebec's James Bay region, within a quartz-pegmatitic vein associated with pyrite, arsenopyrite, chlorite and weak calcite alteration. Seven holes totalling 3,272m had been drilled as of October 13, with the eighth and final hole targeting 350m for an estimated 3,620m total. Assay resu
Drill results