03 Mining Inc. (TSX.V: OIII)
Provided an update on its fully-funded 250,000 metre drilling program at its Marban and Alpha properties in Val-d’Or, Québec.
The highlight was 12.4 g/t Au over 1.9 metres in hole O3AL-21-380 at a vertical depth of 53 metres in the Kappa zone.
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03 Mining Intersects 12.0 g/t Au Over 8.3 Metres From Kappa Zone at its Alpha Project
TSXV:OIII | OTCQX:OIIIF
TORONTO, Jan. 24, 2022 /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 Corporation is reporting results from three holes drilled on the Alpha property.
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Drilling Highlights:
- 12.4 g/t Au over 1.9 metresin holeO3AL-21-380at a vertical depth of 53 metres in the Kappa zone;
- 12.0 g/t Au over 8.3 metresand8.1 g/t Au over 2.0 metresand35.9 g/t Au over 1.1 metresin holeO3AL-21-388from a vertical depth of 625 metres to 663 metres in the Kappa zone which remains open at depth and laterally.
- 28.1 g/t Au over 0.9 metres in holeO3AL-21-391at a vertical depth of 638 metres in the Kappa zone which remains open at depth and laterally.
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O3 Mining 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, the Corporation signed an option agreement with QMX Gold Corporation (acquired by Eldorado Gold in January 2021) to acquire a 100 per cent interest in Aurbel, which is a fully permitted mining facility located 10 kilometres from O3 Mining’s Alpha property.
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03 Mining management comments
“I am very excited about today’s drill results which give us confidence in the continuity of gold mineralization and the potential of the Kappa Zone which extends at depth and remains open in many directions.
“The proximity of the Kappa and Bulldog zones creates the potential for a sizeable project with robust grade, thickness, and continuity.
“We are eager to continue our 2022 winter drilling program where we will continue expansion drilling in the Kappa Zone through the coming months.”
03 Mining’s President and CEO, Mr. Jose Vizquerra
Based on these promising results, 03 Mining assigned 6,000 metres of drilling to expand the Kappa zone. Two drill rigs are actively working to fulfill the program this winter.
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For brevity, this summary has been redacted, to read the full news release, please click HERE
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