O3 Mining drills 102 g/t gold over 1.5 metres at Marban Alliance Project, Quebec
O3 Mining Inc. [TSXV-OIII; OTCQX-OIIIF] reported the second set of assay results from its 24,505-metre drilling campaign completed between January 2024, and March 2024, on the Malartic H deposit within the Marban Alliance project, in Val d’Or, Quebec, Canada.
Highlights: 35.1 g/t gold over 4.5 metres in hole O3MA-24-678 at a vertical depth of 72.9 metres, including 102.0 g/t gold over 1.5 metres on Malartic H; 3.0 g/t Au over 15.4 metres in hole O3MA-24-655 at a vertical depth of 52.7 metres on Malartic H; and 2.1 g/t Au over 19.3 metres in hole O3MA-24-678 at a vertical depth of 212.4 metres, including 31.7 g/t Au over 0.7 metres on Malartic H.
Jose Vizquerra, president and CEO, commented: “The results from our exploration program at Malartic H continue to yield excellent intercepts. These intercepts represent the second set of assay results following the announcement of our initial positive assay results on April 17, 2024. Malartic H is consistently showing attractive results that increase the potential for growth laterally and at depth.
“Our team is currently completing additional drilling at Malartic H and we remain hopeful that this additional drilling could help support the quality and potential growth of the deposit. We are proud of the work completed to date at Malartic H which supports our belief in the robustness of the Marban Alliance project and the Malartic H’s role in the project.”
The objective of the 2024 drilling campaign on the Malartic H deposit is the conversion of mineral resources that are currently classified as inferred mineral resources in the corporation’s current mineral resource estimate to the indicated mineral resource category.
The winter portion of the 2024 drilling campaign totalled 121 drill holes of which assay results for 42 drill holes are being reported today (including eight holes with partial results), the results for 56 drill holes were previously reported and the results for 23 holes are still pending. After a pause during the spring breakup period, the drilling campaign has resumed with a short drilling program of 5,700 metres needed to complete the drill spacing of 40 metres necessary for the category conversion. The corporation will report the outstanding assay results as they become available.
The Malartic H deposit has a recognized strike length of 950 metres, 300 metres wide and down to a vertical depth of 500 metres. It is located within 5 km of the proposed processing plant described in the prefeasibility study published on Marban Alliance in 2022 and approximately 1 km north of the Malartic Hygrade former mine, near the hinge of a regional Z-shaped fold.
The mineralized system is partially open laterally and completely open at depth. Notably, the Malartic H deposit is positioned between the northwestern extensions of the Marbenite and Norbenite shears, which host most of the resources of the Marban Alliance project. At Malartic H, the two shears are northwest-trending and dipping around 70 degrees to the northeast.
The deposit is hosted by an alternance of mafic and ultramafic volcanic sequence of the Jacola formation. Similar to the Hygrade area, numerous intermediate to felsic dike systems are injected in the volcanic sequence. The mineralization occurs as disseminated pyrite with local visible gold in quartz veins and veinlets and disseminated in the host rock. Zones are spatially correlated shears within mafic volcanic units or with the intermediate to felsic dikes. All zones are roughly subparallel.
O3 Mining is well capitalized and owns a 100% interest in all its properties (107,000 hectares) in Quebec.