O3 Mining Inc. (TSX.V: OIII)
Announced that it has received the results of the two inaugural drill holes completed over the prospective Volcanogenic Massive Sulphide belt within the Horizon Project, in Val-d’Or, Québec, Canada.
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| O3 Mining | TSX.v : Olll |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$106 m @ C$1.45 |
| Location | Quebec, Canada |
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O3 Mining Drill Results Confirm VMS Deposit Environment at Horizon Project
The sizeable prospective belt within the Horizon Project and the multiple geophysical anomalies identified by O3 Mining have provided the fundamental elements to allow for the discovery of significant VMS deposits.
TORONTO,Nov. 13, 2023/CNW/ –O3 Mining Inc.(TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to announce that it has received the results of the two inaugural drill holes completed over the prospective Volcanogenic Massive Sulphide (“VMS”) belt within the Horizon Project, inVal-d’Or, Québec,Canada(“Horizon” or the “Horizon Project”).
Highlights
- Hole O3HR-23-001 intercepted a laminated sulphide-rich siliceous tuff containing highly anomalous base and precious metal values of up to 0.24% Cu, 0.15% Zn, 0.1 g/t Au, and 1.4 g/t Ag over 1.4 metres from 356.0 metres.
- These anomalous values are well within the range of values encountered in VMS related exhalative horizons in other prolific belts of Abitibi like the C Contact at Noranda and the Key Tuffite at Matagami.
- The exhalative horizon in O3HR-23-001 is located along a 2.5 kilometres long chargeability induced polarization (“IP”) and magnetic anomaly contained within a bimodal (mafic-felsic) volcanic sequence reaching 14 kilometres in length and interpreted to be equivalent to the Louvicourt Group, which hosts the Louvicourt VMS deposit in theVal-d’Ordistrict (14Mt at 3.5% Cu, 1.5% Zn, 25.9 g/t Ag and 0.9 g/t Au).
- Eight other IP anomalies have been obtained within the 14 km long volcanic sequence, all of which remain to be tested.
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O3 Mining’s President and CEO Mr.José Vizquerra commented:
“We are very excited about the initial results at the Horizon Project that confirm the discovery of a fertile environment supporting a highly prospective VMS deposit.
“VMS deposits represent some of the richest sources globally of a diverse group of strategic metals including copper, zinc, and lead. VMS deposits can also produce significant amounts of gold and silver as byproducts.
“The sizeable prospective belt within the Horizon Project and the multiple geophysical anomalies identified by O3 Mining have provided the fundamental elements that allow for the discovery of VMS deposits. These meaningful results create a new focus of interest on the project that warrants subsequent drilling.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in O3 Mining
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