03 Mining Inc. (TSXV: OIII)
03 Mining provided an update on its fully-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d’Or, Québec, Canada which seeks to convert, expand, and discover new gold resources.
The Company is reporting 16 holes drilled on the Alpha property.
|03 Mining||TSX.V: OIII|
|Market Cap||C$150 m @ $2.21|
|Location||Quebec + Ontario|
03 Mining Expands Mineralization at Alpha on its Bulldog Deposit and Kappa Zone
TSXV:OIII | – 03 Mining
TORONTO, Aug. 5, 2021 /CNW/ – 03 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to provide an update on its fully-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d’Or, Québec, Canada which seeks to convert, expand, and discover new gold resources. The Company is reporting 16 holes drilled on the Alpha property.
03 Mining – Alpha
The core of the Bulldog deposit now counts a total of 16 intercepts with a grade-thickness above 15 g/t Au * metre within an area covering 200 metres along strike and 400 metres down dip at an average of 5.3 g/t Au over 6.0 metres. The deposit remains open at depth and toward the west.
- 2.8 g/t Au over 14.1 metres including 5.5 g/t Au over 6.2 metres in hole O3AL-21-343 only 65 metres below surface on the Bulldog deposit;
- 9.5 g/t Au over 4.8 metres in hole O3AL-21-354A at a vertical depth of 340 metres on the Bulldog deposit;
- 7.1 g/t Au over 5.6 metres including 26.5 g/t Au over 1.3 metres in hole O3AL-21-372D at a vertical depth of 150 metres on the Kappa zone which remains open at depth.
A 3D-model of the Alpha project is available on the Company’s website at: https://o3mining.com/presentations/drill-results
The Corporation continues to extend gold mineralization with the potential to increase resources within trucking distance of the 1,600 tpd Aurbel Mill (“Aurbel”). On May 14, 2020, O3 Mining signed an option agreement with QMX Gold Corporation (acquired by Eldorado Gold on January 2021) to acquire a 100% interest of Aurbel which is a fully-permitted mining facility located 10 kilometres from O3 Mining’s Alpha property.
03 Mining management comments
“I am very excited about today’s results at Bulldog which give us confidence in the robustness of the deposit in terms of grade, thickness and continuity, and will also allow us to better design the upcoming 2022 winter drilling program to extend the Bulldog deposit toward the west and at depth where it remains open.
“Also, the potential of the Alpha property is encouraging as we continue to drill on the Kappa zone which extends at depth and remains completely open in all directions.“
O3 Mining’s President and Chief Executive Officer, Mr. Jose Vizquerra
For brevity, this summary has been redacted. To read the full 03 Mining news release, please click HERE
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