03 Mining Inc. (TSX.V: OIII)
Provided an update on its well-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 Corporation is reporting 15 holes drilled in and around the Marban open-pittable deposits.
|03 Mining||TSX.V: OIII|
|Market Cap||C$137 m @ $1.99|
|Location||Quebec + Ontario|
O3 Mining Reports New Results from Its 2021 Infill Drilling Program at its Marban Project
TSXV:OIII | OTCQX:OIIIF – O3 Mining
TORONTO, Jan. 10, 2022/CNW/ – O3 Mining Inc.(TSX.V: OIII) ( OTCQX: OIIIF)(“O3 Mining” or the “Corporation”) is pleased to provide an update on its well-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 Corporation is reporting 15 holes drilled in and around the Marban open-pittable deposits. O3 Mining intends to share its objectives for the year in the following weeks.
- 35.8 g/t Au over 8.9 metres,including440.0 g/t Au over 0.7 metresin holeO3MA-21-187located in the proposed Preliminary Economic Assessment (“PEA”) pit. Subsidiary zones were also intersected along the same drill hole yielding1.0 g/t Au over 37.0 metres, 3.3 g/t Au over 3.2 metres, and 1.3 g/t Au over 31.4 metres;
- 11.1 g/t Au over 5.0 metresand5.3 g/t Au over 7.2 metresin holeO3MA-21-232located in the proposed PEA pit;
- 44.1 g/t Au over 2.3 metresincluding192.0 g/t Au over 0.5 metrein holeO3MA-21-203located in the proposed PEA pit. This intercept is bordered by two historical openings and the gold endowment goes beyond those openings,1.1 g/t Au over 6.4 metres and 2.1 g/t Au over 1.6 metreswere also intercepted immediately before and after;
- 2.1 g/t Au over 17.4 metresand3.0 g/t Au over 9.8 metresin holeO3MA-21-211 located in the proposed PEA pit. The hole also intercepted1.5 g/t Au over 7.9 metresand3.2 g/t Au over 2.3 metressurrounding a historical opening;
- 2.1 g/t Au over 13.7 metresand1.8 g/t Au over 25.2 metreson each side of a historical opening in holeO3MA-21-143 located in the proposed PEA pit.
03 Mining Management comments
“We are very pleased to begin the year with these latest results from our successfully completed infill drilling program at the Marban Project.
“Not only do the results offer us the potential to expand the overall scope of the project, but we are also seeing higher grades than the average resource grade, which we are confident will be reflected in our updated mineral resource in early 2022 and will be an important component in the completion of Marban’s Pre-Feasibility Study.”
O3 Mining President and Chief Executive Officer, Mr. Jose Vizquerra
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