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O3 Mining Intersects 17.8 g/t Au Over 1.1 Metres And Expands The North Contact Structure At East Cadillac

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O3 Mining Intersects 17.8 g/t Au Over 1.1 Metres And Expands The North Contact Structure At East Cadillac

 

 

 

 

 

O3 Mining Inc. (TSX-V:OIII)  is pleased to provide new drilling results from the East Cadillac Property in Val D’Or, Quebec, as part of its well-funded 150,000 metre drilling program.

 

Current drilling on the East Cadillac property is focused on the North Contact zone, which continues to show continuity laterally and at depth. The North Contact zone is located along the northern splay of the Cadillac Larder-Lake Fault, which can be traced over 6 kilometres within the property. It consists of stacked mineralized lenses located at or near the sheared contact of small units of mafic volcanic rocks with the surrounding wacke. The summer campaign consists of follow-up holes at 100 metre spacing to expand the known mineralization at the North Contact. The company has completed 6,300 metres of drilling in fifteen drill holes on the North Contact, and three more holes remain to be completed.

 

Drilling Highlights:

  • 17.8 g/t Au over 1.1 metres in hole O3EC-20-032
  • 1.7 g/t Au over 10.3 metres in hole O3EC-20-030

 

These drill holes have been drilled 100 metres below and east of drill hole O3EC-20-007, which returned 3.1 g/t Au over 7.0 metres including 4.6 g/t Au over 2.9 metres, and including 5.3 g/t Au over 1.5 metres from the winter campaign this year (See Press Release April 9th, 2020). Assay results from eight drill holes are pending. All drill holes intersected the North Contact structure thus demonstrating its continuity over 700 meters laterally and 500 meters vertically. The zone remains open in all directions.

 

“The most recent drilling along the North Contact zone has exceeded our expectations and provide a solid foundation for our next winter campaign. Results from the North Contact demonstrate the strength and thickness of the mineralized envelope and potential for growth along with the 6 kilometre wide structure on our East Cadillac Property,” said Jose Vizquerra, President and CEO, O3 MiningThe company remains focused on strategically investing in its drilling capabilities at its properties as they reach different stages of development such as; mine development, resource development, and advanced exploration.

 

Drilling at the North Contact will resume in the winter following freezing conditions. The winter campaign will focus on the eastern extension of the North Contact zone with higher gold grades expected as a major NNW-SSE structure is approached to the east. The winter campaign will also target the extensions of the high-grade zones intersected during the winter 2020 campaign in holes O3EC-20-020 and O3EC-20-023 (See Press Release July 7th, 2020).  

 

Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)

 

Drill Hole ID From
(m)
To
(m)
Interval
(m)
Au uncut (g/t) Mineralized Zone
O3EC-20-025 192.5 193.1 0.6 10.0 North Contact
and 182.0 183.8 1.8 2.8
O3EC-20-028 277.0 277.5 0.5 25.0
and 296.1 303.4 7.3 1.3
O3EC-20-030 249.8 253.4 3.6 3.1
and 271.0 277.3 6.3 0.9
and 307.1 317.4 10.3 1.7
O3EC-20-031 382.0 387.4 5.4 1.3
and 434.2 435.9 1.7 4.0
and 440.5 442.0 1.5 3.7
O3EC-20-032 319.9 321.0 1.1 17.8
and 372.8 377.0 4.2 1.5
and 394.4 394.9 0.5 16.4
O3EC-20-033 276.0 278.4 2.4 2.9

 

 

 

 

 

 

 

 

 

 

NOTE: True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones.

 

Table 2: Drill Hole Details 

 

Drill Hole ID Azimuth
(˚)
Dip
(˚)
Length
(m)
UTM E UTM N
O3EC-20-025 190 -53 330 335772 5320149
O3EC-20-028 186 -64 400 335387 5320291
O3EC-20-030 186 -65 384 335684 5320247
O3EC-20-031 184 -70 492 335683 5320302
O3EC-20-032 184 -70 492 335589 5320327
O3EC-20-033 186 -64 404 335487 5320278

 

 

 

 

 

 

O3EC-20-032 intersected three mineralized lenses. The northernmost lens returned 17.8 g/t Au over 1.1 metres associated with an interval consisting of 30% quartz-tourmaline-calcite veinlets and disseminated arsenopyrite and pyrite, related to a graphitic fault within andesite.

 

O3EC-20-030 intersected three mineralized lenses. The first northernmost lens returned 3.1 g/t Au over 3.6 metres associated with a strong tourmaline altered andesite consisting of 30% quartz veins and veinlets with 3% disseminated arsenopyrite. The southernmost lens yielded 1.7 g/t Au over 10.3 metres. This interval consists of 30% quartz veins and veinlets with tourmalinized selvages associated with disseminated arsenopyrite, pyrite, and pyrrhotite within a basalt. The whole interval has been cross-cut by late ankerite veinlets associated with the brecciation of the quartz veins and veinlets.  Visible gold is associated with the quartz veining.

 

Figure 1: East Cadillac Property Location


https://www.globenewswire.com/NewsRoom/AttachmentNg/659bcd1f-1fe8-4092-8f8f-da2398563201

 

Figure 2: East Cadillac Property Drilling Map


https://www.globenewswire.com/NewsRoom/AttachmentNg/32924fde-fdc2-4def-a742-b2cc31e6098f

 

Qualified Person

 

The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Exploration Manager, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Quality Control and Reporting Protocols

 

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. 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 in Val D’Or, Quebec 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 QA/QC program. Third-party assays are submitted to other designated laboratories for 5% of all samples. Drill program design, Quality Assurance/Quality Control (“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, which forms part of the Osisko Group of companies, is a mine development and emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Québec and Ontario – with a goal of becoming a multi-million ounce, high-growth company.

 

O3 Mining is well-capitalized and holds a 100% interest in properties in Québec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val D’Or and over 50 kilometres of strike length of the Cadillac-Larder Lake Faut. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

 

Posted July 30, 2020

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