Expands Mineralisation Outside of Pit Shell In Quebec
O3 Mining Inc.(TSXV: OIII) has discovered a new gold zone at its Marban project on its Malartic Property in Val-d’Or, Québec.
The discovery was made in the company’s current 150,000m drilling programme focused on expanding mineralisation outside of the proposed pit areas outlined in the Preliminary Economic Assessment (PEA) released in September 2020.
The 2020-2021 drilling programme consists of 50,000m to test extensions of the deposits and zones outside of the PEA pit areas. New drilling results from seven drill holes include:
- 1.2 g/t Au over 9.7m in hole O3MA-20-012 and 2.0 g/t Au over 5.4m in hole O3MA-20-015 in a new zone named Golden Bridge Zone
- 1.5 g/t Au over 6.3m in hole O3MA-20-028 near-surface outside of Kierens PEA pit shell
- 34.8 g/t Au over 1.2m in hole O3MA-20-013 near-surface inside the Kierens PEA pit shell
- 13.5 g/t Au over 1.3m and 2.8 g/t Au over 4.3m in hole O3MA-20-013 associated with albitized dykes
- 4.6 g/t Au over 1.2m in hole O3MA-20-012, including 9.6 g/t Au over 0.5m at Gold Hawk
“Late last year, we published a positive PEA on Marban and committed to making it even better through continued exploration,” said President and CEO, José Vizquerra.
“By investing the time and money into our drill programme we continue to grow the various Marban deposits and the results will be included with the next resource update, which will underline how the development of Marban is becoming an even more attractive possibility.
“Drilling has successfully intercepted mineralisation in new areas including what we think is a new parallel structure to Marban called Golden Bridge, which after more work, could be brought into the project economics and further add to the benefits of a future production scenario,”
The new Golden Bridge zone discovery is defined by three drill holes covering an area of 175m by 100 at 175m vertical depth and remains open to the west, at depth, and up to the surface.
Mr Vizquerra said O3 Mining believes that the near surface Golden Bridge zone offers the potential to generate a new open pit resource, just 200 metres from the PEA Norlartic pit.
