O3 Mining drills 5.9 g/t gold over 10.1 metres at Marban, Quebec
O3 Mining Inc. [OIII-TSXV; OIIIF-OTCQX] provided additional assay results from its winter drill program on its 100%-owned Marban Engineering project in Val d’Or, Quebec, Canada. In this news release, the corporation is reporting 17 significant intercepts in nine drill holes from the Malartic H deposit drill program completed in March, 2023. The Malartic H deposit consists of multiple stacked lenses covering an area of 600 metres along strike and 300 metres wide.
Highlights: 5.9 g/t gold over 10.1 metres in hole O3MA-23-463 at a vertical depth of 122 metres, including 53.2 g/t over 1.0 metre; 2.6 g/t gold over 6.9 metres in hole O3MA-22-474 at a vertical depth of 98 metres; 3.5 g/t Au over 7.5 metres in hole O3MA-22-477 at a vertical depth of 247 metres.
O3 Mining’s President and CEO, Jose Vizquerra, commented: “These new assay results from our 2023 winter drill program substantiate the presence of thick mineralized zones at Malartic H as previously highlighted by historical drilling. These results reinforce the prospectivity of the two main shears – being the Marbenite and the Norbenite – which cut across the Marban property. We are looking forward to receiving the remaining assay results from the core samples extracted from the Malartic H deposit during our 2023 winter drill program.”
As part of the 2023 winter drill program, drill holes 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. Most of the historical drilling was completed by NioGold Mining Corp. and Aur Resources Inc. Assay results reported today are from the south-eastern part of the Malartic H deposit and assay results from the central part of the Malartic H deposit are expected in the coming weeks. Once all assay results are received, O3 Mining expects to release a maiden mineral resource estimate on the Malartic H deposit by the end of the second quarter of 2023.
Malartic H is located within 5 km of the proposed processing plant described in the current pre-feasibility study on the corporation’s Marban Engineering Project.
The Malartic H deposit has a recognized strike length of 600 metres, 300 metres wide and down to a vertical depth of 500 metres. The mineralized system is partially open laterally and completely open at depth. It is located about 1 ko to the north of the Malartic Hygrade former mine, near the hinge of a regional Z-shaped fold.
More importantly the Malartic H deposit is also located between the northwestern extensions of the Marbenite and Norbenite shears, which host most of the resources of the Marban Engineering 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 dyke 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 dykes. All zones are roughly subparallel.
The 2023 winter drilling program on the Malartic H deposit comprises 23 drill holes totaling 6,948 metres. The parameters are listed in Table 3 for the entire program. Assays results are completely received for only 8 of those holes.