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O3 Mining Intersects 102.0 g/t Au over 1.5 Metres at Malartic H, Marban Alliance

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O3 Mining Intersects 102.0 g/t Au over 1.5 Metres at Malartic H, Marban Alliance

 

 

 

 

 

O3 Mining Inc. (TSX-V: OIII) (OTCQX: OIIIF) is pleased to announce that it has received the second set of assay results from its 24,505 metre drilling campaign completed between January 2024 and March 2024 on the Malartic H deposit  within the Marban Alliance project, in Val-d’Or, Québec, Canada.

 

Highlights:

  • 35.1 g/t Au over 4.5 metres in hole O3MA-24-678 at a vertical depth of 72.9 metres, including 102.0 g/t Au over 1.5 metres on Malartic H
  • 3.0 g/t Au over 15.4 metres in hole O3MA-24-655 at a vertical depth of 52.7 metres on Malartic H
  • 2.1 g/t Au over 19.3 metres in hole O3MA-24-678 at a vertical depth of 212.4 metres, including 31.7 g/t Au over 0.7 metre on Malartic H

 

O3 Mining’s President and Chief Executive Officer, Mr. José Vizquerra commented: “The results from our exploration program at Malartic H continue to yield excellent intercepts. These intercepts represent the second set of assay results following the announcement of our initial positive assay results on April 17, 2024. Malartic H is consistently showing attractive results that increase the potential for growth laterally and at depth. Our team is currently completing additional drilling at Malartic H and we remain hopeful that this additional drilling could help support the quality and potential growth of the deposit. We are proud of the work completed to date at Malartic H which supports our belief in the robustness of the Marban Alliance Project and the Malartic H’s role in the project.”

 

The objective of the 2024 drilling campaign on the Malartic H deposit is the conversion of mineral resources that are currently classified as inferred mineral resources in the Corporation’s current mineral resource estimate to the indicated mineral resource category (see news release of O3 Mining dated June 20, 2023 and entitled O3 Mining Delivers Maiden Mineral Resource Estimate for Malartic H). The winter portion of the 2024 drilling campaign totaled 121 drill holes of which assay results for 42 drill holes are being reported today (including eight holes with partial results), the results for 56 drill holes were previously reported (see news release of O3 Mining dated April 17, 2024 and entitled O3 Mining Intersects 119.1 g/t Au over 2.5 Metres at Malartic H, Marban Alliance), and the results for 23 holes are still pending. After a pause during the spring breakup period, the drilling campaign has resumed with a short drilling program of 5,700 metres needed to complete the drill spacing of 40 metres necessary for the category conversion. The Corporation will report the outstanding assay results as they become available.

 

Malartic H Deposit

 

The Malartic H deposit has a recognized strike length of 950 metres, 300 metres wide and down to a vertical depth of 500 metres. It is located within five kilometres of the proposed processing plant described in the pre-feasibility study published on Marban Alliance in 2022 and approximately one kilometre to the north of the Malartic Hygrade former mine, near the hinge of a regional Z-shaped fold. The mineralized system is partially open laterally and completely open at depth. Notably, the Malartic H deposit is positioned between the northwestern extensions of the Marbenite and Norbenite shears, which host most of the resources of the Marban Alliance Project. At Malartic H, the two shears are northwest-trending and dipping around 70 degrees to the northeast. The deposit is hosted by an alternance of mafic and ultramafic volcanic sequence of the Jacola formation. Similar to the Hygrade area, numerous intermediate to felsic dyke systems are injected in the volcanic sequence. The mineralization occurs as disseminated pyrite with local visible gold in quartz veins and veinlets and disseminated in the host rock. Zones are spatially correlated shears within mafic volcanic units or with the intermediate to felsic dykes. All zones are roughly subparallel.

 

Figure 1: Photo of visible gold at 104.5 metres in hole O3MA-24-678 at Malartic H

 

 

Table 1: Drill Hole Intercepts at Malartic H. Only intercepts with metal factor above 5.0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.

 

Hole From
(m)
To
(m)
Vertical
Depth
(m)
Grade
(g/t Au)
Core Length
(m)
Metal Factor
(g/t Au x m)
O3MA-24-578 5.4 19.1 7.6 1.7 13.7 23.1
O3MA-24-588 75.6 78.3 53.2 3.3 2.7 8.9
O3MA-24-611 51.3 58.1 37.3 1.3 6.8 8.6
O3MA-24-611 74.0 78.5 52.1 2.4 4.5 11.0
O3MA-24-620 59.0 69.4 55.8 0.9 10.4 9.4
O3MA-24-622A 211.0 220.9 206.1 0.6 9.9 6.1
O3MA-24-634 61.8 63.0 61.9 5.8 1.2 7.0
O3MA-24-645 127.9 133.2 92.2 1.1 5.3 5.9
O3MA-24-651 54.8 62.0 40.4 0.7 7.2 5.1
O3MA-24-654 185.3 190.5 130.8 1.1 5.2 5.5
O3MA-24-655 69.2 84.6 52.7 3.0 15.4 45.5
O3MA-24-661 43.5 47.0 31.8 3.5 3.5 12.2
O3MA-24-666 98.1 107.2 77.3 0.8 9.1 7.6
O3MA-24-666 111.3 115.1 85.1 7.6 3.8 28.8
Including 112.3 112.9 84.6 33.2 0.6 19.9
O3MA-24-668 31.9 34.6 22.6 2.5 2.7 6.7
O3MA-24-672 88.6 92.6 67.9 3.8 4.0 15.1
O3MA-24-674 152.6 153.4 131.3 7.4 0.8 6.0
O3MA-24-674 192.4 192.9 165.1 58.4 0.5 29.2
O3MA-24-675 78.4 94.4 87.5 1.7 16.0 26.5
Including 78.4 79.2 79.9 12.3 0.8 9.8
O3MA-24-678 103.0 107.5 72.9 35.1 4.5 158.1
Including 104.5 106.0 72.9 102.0 1.5 153.0
O3MA-24-678 207.4 215.3 145.9 1.4 7.9 11.1
O3MA-24-678 279.5 295.2 197.7 2.1 15.7 33.3
O3MA-24-678 299.5 318.8 212.4 2.1 19.3 40.9
Including 310.1 310.8 213.3 31.7 0.7 22.2
O3MA-24-678 335.5 352.3 235.8 1.4 16.8 24.4
O3MA-24-678 388.7 396.1 268.3 3.3 7.4 24.1
O3MA-24-679 16.8 20.3 14.1 2.6 3.5 9.0
O3MA-24-682 12.8 21.0 11.5 0.9 8.2 7.7
O3MA-24-682 34.3 48.1 29.1 1.3 13.8 17.8
O3MA-24-682 101.0 107.5 73.9 1.0 6.5 6.5
O3MA-24-685 138.5 145.0 100.5 2.3 6.5 14.8
True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated.

 

Figure 2: Marban Alliance Project Map

 

 

Figure 3: Malartic H – Significant Intercepts Map

 

 

Table 2: Technical parameters of holes of the 2024 campaign at Malartic H that have received assay results

 

Hole   Azimuth (°) Dip (°) Start Depth (m) End depth

 (m)

Length UTM
Zone 18
Easting
(m)
UTM
Zone 18
Northing
(m)
Assays
Status
O3MA-24-549   224 -45 0 141.3 141.3 275488 5339570 All Received
O3MA-24-550A   224 -49 0 182.7 182.7 275596 5339618 All Received
O3MA-24-551A   215 -81 0 129.2 129.2 275488 5339570 All Received
O3MA-24-552   226 -50 0 183.1 183.1 275484 5339510 All Received
O3MA-24-553   224 -50 0 158.6 158.6 275625 5339582 All Received
O3MA-24-554A   224 -48 0 213 213 275521 5339495 All Received
O3MA-24-555   224 -45 0 126 126 275453 5339528 All Received
O3MA-24-556   224 -45 0 153 153 275410 5339496 All Received
O3MA-24-557   224 -50 0 189 189 275558 5339526 All Received
O3MA-24-558   224 -45 0 96 96 274904 5339951 All Received
O3MA-24-559   224 -55 0 225 225 275372 5339515 All Received
O3MA-24-560   224 -46 0 168 168 275593 5339450 All Received
O3MA-24-561   224 -45 0 96 96 274939 5339929 All Received
O3MA-24-562   224 -45 0 162 162 275565 5339478 All Received
O3MA-24-563   63 -85 0 108 108 275373 5339515 All Received
O3MA-24-564   225 -45 0 105 105 274985 5339922 All Received
O3MA-24-565   224 -55 0 180 180 275383 5339432 All Received
O3MA-24-566A   225 -60 0 107.9 107.9 275605 5339351 All Received
O3MA-24-567   224 -45 0 106 106 275028 5339904 All Received
O3MA-24-569   224 -45 0 189.1 189.1 275374 5339457 All Received
O3MA-24-570   224 -46 0 180.1 180.1 275570 5339372 All Received
O3MA-24-571   224 -45 0 105 105 275060 5339878 All Received
O3MA-24-572   225 -55 0 108 108 275553 5339412 All Received
O3MA-24-573   224 -45 0 141.1 141.1 275329 5339417 All Received
O3MA-24-574   224 -45 0 105 105 275562 5339317 All Received
O3MA-24-575   224 -45 0 147 147 275101 5339918 All Received
O3MA-24-576   224 -45 0 143.6 143.6 275531 5339336 All Received
O3MA-24-578   224 -45 0 168 168 275120 5339880 Partial
O3MA-24-579   224 -50 0 170.6 170.6 275307 5339451 All Received
O3MA-24-580   224 -45 0 144 144 275514 5339371 All Received
O3MA-24-581   224 -45 0 137.9 137.9 275079 5339843 All Received
O3MA-24-583   224 -45 0 147 147 275492 5339396 All Received
O3MA-24-584A   224 -45 0 123 123 275285 5339487 All Received
O3MA-24-585   224 -45 0 93 93 275017 5339842 Partial
O3MA-24-587   224 -45 0 90 90 275289 5339382 All Received
O3MA-24-588   224 -45 0 96 96 274987 5339864 All Received
O3MA-24-589   224 -50 0 174 174 275481 5339457 All Received
O3MA-24-590   224 -50 0 99 99 275270 5339416 All Received
O3MA-24-591   224 -45 0 96 96 274948 5339878 All Received
O3MA-24-592   224 -45 0 108 108 275184 5339503 All Received
O3MA-24-593   224 -45 0 216 216 275187 5339776 Partial
O3MA-24-594   224 -45 0 105 105 275222 5339483 All Received
O3MA-24-595   252 -45 0 188 188 275590 5339613 Partial
O3MA-24-597   224 -45 0 94.6 94.6 275243 5339449 All Received
O3MA-24-598   214 -63 0 231 231 275190 5339965 All Received
O3MA-24-599   225 -66 0 156 156 275020 5340267 All Received
O3MA-24-600   224 -45 0 102 102 275039 5339803 All Received
O3MA-24-602   224 -45 0 138.2 138.2 275081 5339786 All Received
O3MA-24-603   224 -45 0 213.2 213.2 275201 5339958 All Received
O3MA-24-604   224 -45 0 171.1 171.1 274987 5340286 All Received
O3MA-24-606   234 -55 0 198.1 198.1 275099 5340231 Partial
O3MA-24-607   197 -65 0 261 261 275201 5339958 All Received
O3MA-24-609   210 -52 0 162.2 162.2 275071 5340220 All Received
O3MA-24-611   224 -45 0 189 189 275160 5339920 Partial
O3MA-24-612   224 -45 0 221.9 221.9 275207 5339749 All Received
O3MA-24-613   239 -65 0 186 186 275154 5339953 All Received
O3MA-24-614   224 -45 0 110.8 110.8 274989 5340199 All Received
O3MA-24-615   206 -45 0 291.2 291.2 275172 5340092 All Received
O3MA-24-617   239 -80 0 207 207 275154 5339953 All Received
O3MA-24-618   238 -59 0 369 369 275512 5339760 All Received
O3MA-24-619   224 -45 0 201 201 275141 5339956 All Received
O3MA-24-620   224 -56 0 165 165 275095 5340185 All Received
O3MA-24-621   223 -46 0 162 162 275326 5339526 All Received
O3MA-24-622A   216 -72 0 225 225 275119 5339999 All Received
O3MA-24-623   228 -46 0 216 216 275115 5340141 All Received
O3MA-24-624   224 -56 0 291 291 275512 5339760 All Received
O3MA-24-626   238 -67 0 237 237 275115 5340141 All Received
O3MA-24-627   202 -51 0 226 226 275471 5339696 All Received
O3MA-24-628   224 -45 0 183 183 275110 5339983 All Received
O3MA-24-630   224 -45 0 198 198 275073 5340113 All Received
O3MA-24-634   228 -85 0 204 204 275326 5339526 All Received
O3MA-24-637   212 -64 0 312 312 275419 5339755 All Received
O3MA-24-641   224 -45 0 159.1 159.1 275028 5340011 All Received
O3MA-24-645   224 -45 0 200.7 200.7 275069 5340051 All Received
O3MA-24-647   225 -70 0 165 165 275216 5339862 All Received
O3MA-24-651   224 -45 0 247.5 247.5 275275 5339698 All Received
O3MA-24-652   224 -45 0 174 174 274979 5340083 All Received
O3MA-24-654   224 -45 0 346 346 275298 5339941 All Received
O3MA-24-655   224 -45 0 178.1 178.1 275167 5339707 All Received
O3MA-24-659   224 -45 0 144.1 144.1 275221 5339538 All Received
O3MA-24-661   224 -45 0 144 144 275263 5339525 All Received
O3MA-24-666   224 -50 0 348 348 275368 5339727 Partial
O3MA-24-668   224 -45 0 126 126 275184 5339558 All Received
O3MA-24-670   224 -45 0 96 96 275144 5339517 All Received
O3MA-24-671   224 -46 0 168 168 275481 5339614 All Received
O3MA-24-672   224 -45 0 180 180 275725 5339392 All Received
O3MA-24-673   224 -45 0 114 114 275150 5339580 All Received
O3MA-24-674   224 -60 0 273 273 275327 5339635 All Received
O3MA-24-675   224 -77 0 177 177 275481 5339614 All received
O3MA-24-676   252 -47 0 246 246 275460 5339589 All Received
O3MA-24-677   224 -50 0 129 129 275113 5339603 All Received
O3MA-24-678   224 -45 0 405 405 275382 5339908 All Received
O3MA-24-679   226 -47 0 222 222 275460 5339589 All Received
O3MA-24-680   202 -50 0 235 235 275327 5339635 All Received
O3MA-24-681   245 -47 0 231 231 275598 5339669 All Received
O3MA-24-682   224 -45 0 201 201 275233 5339658 All Received
O3MA-24-684   224 -45 0 150 150 275670 5339384 All Received
O3MA-24-685   224 -50 0 240.1 240.1 275280 5339648 Partial

 

 

Qualified Person

 

The scientific and technical content of this news release has been prepared, reviewed, and approved by Mrs. Élise Bourgault, Geo (OGQ #894), Exploration Manager of O3 Mining, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Quality Assurance/Quality Control

 

Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat Laboratory located in Val-d’Or, Québec, and Mississauga, Ontario, for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge.

 

Commercial certified standard material and blanks are systematically inserted by O3 Mining’s geologists into the sample chain after every 18 core samples as part of the quality assurance and quality control program. Third-party assays are submitted to other designated laboratories for 5% of mineralized samples. Drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

 

About O3 Mining Inc.

 

O3 Mining Inc. is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support and expertise of a team of industry leaders as it grows towards becoming a gold producer with several multi-million-ounce deposits in Québec.

 

O3 Mining is well-capitalized and owns a 100% interest in all its properties (107,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders.

 

Posted July 18, 2024

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