O3 Mining intersects 1.5 g/t gold over 44.3 metres at Marban, Quebec
O3 Mining Inc. [OIII-TSXV; OIIIF-OTCQX] provided an update on its continuing drilling program on its Marban Engineering project in Val d’Or, Quebec, Canada.
The corporation has released assay results from 14 holes from the Kierens-Norlartic infill drilling program completed in December 2022 seeking technical justification to convert a portion of the remaining 50,000 ounces of gold located within the NI 43-101 prefeasibility study (PFS) resource pit shells from the inferred to the indicated category. The 2022 infill program totalled 64 drill holes completed in and around the Norlartic, North, North-North and Kierens pits, of which five holes have assays pending.
“Not only do the results offer us the potential to expand the Kierens-Norlartic resources, but we are also seeing consistency with the estimated grades, giving us confidence that we can convert more material not considered in the PFS to ore, which will be reflected in the feasibility study in Q1 2024. We expect to receive more assay results from our drilling campaign in the next weeks and it promises to continue unveiling Marban’s resource potential while we continue drilling with three rigs at our Marban project,” said O3 Mining president and CEO Jose Vizquerra.
Highlights included 1.5 g/t gold over 44.3 metres in hole O3MA-22-356 starting at 257.4 metres in the hole in the Norlartic PFS pit shell.
Hole O3MA-22-385 returned 1.6 g/t Au over 27 metres starting at 356.4 metres in the hole at the bottom of the Norlartic PFS pit shell.
O3MA-22-335 returned 2.1 g/t gold over 84.5 metres (true width of approximately 19 metres) starting at 17.6 metres in the hole near surface and at the eastern limit of the Norlartic PFS pit shell.
Most of the results published today are consistent with the estimated grades of the inferred blocks they were aiming to convert. Some of the intercepts are located immediately outside of the PFS pit outline, thus offering the possibility to increase the tonnage of the resource if a future pit expansion can be demonstrated.
In the case of the Norlartic deposit, it is interesting noting that drill hole O3MA-22-335 returned a notable intercept right next to the property boundary in the southeast corner of the pit shell, where it remains open. The process of updating the ore wireframes is continuing and will be completed as soon as the full assay results are received. The company will then be working with its consultants to update the resource estimate that it expects will form part of the feasibility study.
The 2022 infill program comprised 64 drill holes totalling 12,153 metres. Many significant intercepts have been published in the last months. Those drill holes also contain a significant amount of intercepts with grade-thickness values between five and 20 metres by g/t gold.
O3 Mining, an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Quebec.
O3 Mining is well capitalized and owns a 100% interest in all its properties (66,000 hectares) in Quebec.