O3 Mining drills 4 g/t gold over 36.5 metres at Marban, Quebec
O3 Mining Inc. [OIII-TSXV; OIIIF-OTCQX] reported additional assay results from the winter drill program on its Marban engineering project in Val d’Or, Quebec, Canada. In this news release, the corporation is reporting 22 significant intercepts in 13 drill holes from the Malartic H deposit drill program completed in March 2023, which expands upon the 17 significant intercepts disclosed in O3 Mining’s new release dated May 16, 2023. The Malartic H deposit consists of multiple stacked lenses now covering an area of 950 metres along strike and 300 metres wide.
Highlights: 4.0 g/t gold over 36.5 metres in hole O3MA-23-485 at a vertical depth of 66 metres, including 231.0 g/t over 0.5 metre and 1.2 g/t over 14.4 metres; 2.8 g/t gold over 16.9 metres in hole O3MA-22-471 at a vertical depth of 182 metres; and 7.2 g/t gold over 4.5 metres in hole O3MA-22-476 at a vertical depth of 219 metres.
O3 Mining’s president and CEO, Jose Vizquerra, commented: “These new robust and shallow intercepts from our 2023 winter drill program bring us confidence ahead of the maiden near surface resource estimate to be released shortly. Additionally, higher grade intercepts deeper in the system could signal potential for an underground operation.”
The 2023 winter drill program on Malartic H covered a 1 km stretch, filling gaps covered by historic drilling in the shallow part of the Malartic H deposit to achieve an 80-metre spacing. Historic drilling was completed by NioGold Mining Corp. and Aur Resources Inc. All assays have been received (except a portion of hole O3MA-23-491 that replicate hole O3MA-23-485, 6 metres apart), and O3 Mining expects to release a maiden mineral resource estimate on the Malartic H deposit later this month.
Malartic H is located within 5 km of the proposed processing plant described in the current pre-feasibility study on the company’s Marban Engineering Project. The 2023 winter drilling program on the Malartic H deposit comprises 23 drill holes totaling 6,948 metres. Assay results are completely received except for the one twin hole mentioned above (which results are pending).
O3 Mining is well-capitalized and owns a 100% interest in all its properties (62,000 hectares) in Quebec.