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O3 Mining Intersects 5.9 g/t Au Over 10.1 Metres on Malartic H Deposit at Marban

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O3 Mining Intersects 5.9 g/t Au Over 10.1 Metres on Malartic H Deposit at Marban

 

 

 

 

 

O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) is pleased to provide additional assay results from our winter drill program on our Marban Engineering Project in Val-d’Or, Québec, Canada. In this news release, the Corporation is reporting 17 significant intercepts in nine drill holes from the Malartic H deposit drill program completed in March 2023. The Malartic H deposit consists of multiple stacked lenses covering an area of 600 metres along strike and 300 metres wide.

 

Highlights:

  • 5.9 g/t Au over 10.1 metres in hole O3MA-23-463 at a vertical depth of 122 metres, including 53.2 g/t over 1.0 metre;
  • 2.6 g/t Au over 6.9 metres in hole O3MA-22-474 at a vertical depth of 98 metres;
  • 3.5 g/t Au over 7.5 metres in hole O3MA-22-477 at a vertical depth of 247 metres.

 

O3 Mining’s President and Chief Executive Officer, Mr. José Vizquerra commented: “These new assay results from our 2023 winter drill program substantiate the presence of thick mineralized zones at Malartic H as previously highlighted by historical drilling. These results reinforce the prospectivity of the two main shears – being the Marbenite and the Norbenite – which cut across the Marban property. We are looking forward to receiving the remaining assay results from the core samples extracted from the Malartic H deposit during our 2023 winter drill program.”

 

As part of the 2023 winter drill program, drill holes covered a one kilometre stretch, filling gaps covered by historic drilling in the shallow part of the Malartic H deposit to achieve an 80 metre spacing. Most of the historical drilling was completed by NioGold Mining Corp. and Aur Resources Inc., with QA/QC procedures applied and documented. Assay results reported today are from the south-eastern part of the Malartic H deposit and assay results from the central part of the Malartic H deposit are expected in the coming weeks. Once all assay results are received, O3 Mining expects to release a maiden mineral resource estimate on the Malartic H deposit by the end of the second quarter of 2023.

 

Malartic H is located within five kilometres of the proposed processing plant described in the current pre-feasibility study on the Corporation’s Marban Engineering Project.

 

Table 1: Near Surface Delineation Drill Hole Intercepts. Only intercepts above 5.0 g/t Au*m are reported, cut-off 0.3 g/t Au and above 200 metres from surface.

 

Hole From (m) To (m) Grade Core
Length (m)
Vertical
Depth
Zone
(g/t Au) (m)
O3MA-23-453 110 113 1.8 3 79 Malartic H
and 164 172 0.6 8 119
O3MA-23-455 67.5 69 8.1 1.5 51
O3MA-23-458 86.3 89.5 3 3.2 68
and 183.4 184 15.5 0.6 142
O3MA-23-461 123.9 130.4 1.1 6.5 92
and 173.7 176.5 2.8 2.8 127
O3MA-23-463 148.1 158.2 5.9 10.1 122
including 151 152 53.2 1 122
and 222.4 223.9 10.3 1.5 177
including 223.3 223.9 24.4 0.6 177
O3MA-23-467 207.9 210.6 2 2.7 163
O3MA-23-469 8.7 13 2.4 4.3 9
O3MA-23-474 106.7 113.6 2.6 6.9 98
and 127.4 138 0.6 10.6 118
and 143 152 0.8 9 132
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.

 

 

Table 2: Deeper Delineation Drill Hole Intercepts. Only intercepts above 5.0 g/t Au*m are reported, cut-off 1.0 g/t Au and below 200 metres from surface.

 

Hole From (m) To (m) Grade Core
Length (m)
Vertical
Depth
Zone
(g/t Au) (m)
O3MA-23-463 370.4 371.1 12 0.7 291 Malartic H
O3MA-23-477 293.8 295.3 3.7 1.5 230
and 312.5 320 3.5 7.5 247
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 1 – Marban Property Map

 

Figure 2: Location of significant intercepts at Malartic H

 

About the Malartic H deposit

 

The Malartic H deposit has a recognized strike length of 600 metres, 300 metres wide and down to a vertical depth of 500 metres. The mineralized system is partially open laterally and completely open at depth. It is located about 1 kilometre to the north of the Malartic Hygrade former mine, near the hinge of a regional Z-shaped fold. More importantly the Malartic H deposit is also located between the northwestern extensions of the Marbenite and Norbenite shears, which host most of the resources of the Marban Engineering 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.

 

The 2023 winter drilling program on the Malartic H deposit comprises 23 drill holes totaling 6,948 metres. The parameters are listed in Table 3 for the entire program. Assays results are completely received for only 8 of those holes.

 

Table 3: Technical parameters of holes of the 2023 campaign on Malartic H.

 

Hole Azimuth

(°)

Dip

(°)

Start
Depth
(m)
End
Depth
(m)
Length

(m)

UTM Zone 18
Easting
(m)
UTM Zone 18
Northing
(m)
Assays
Status
O3MA-23-453 224 -45 0 183 183 275524 5339441 All Received
O3MA-23-455 224 -45 0 201 201 275608 5339411 All Received
O3MA-23-456 224 -50 0 126 126 275650 5339341 All Received
O3MA-23-457 224 -49 0 201 201 275749 5339341 All Received
O3MA-23-458 224 -50 0 321 321 275524 5339536 All Received
O3MA-23-461 224 -45 0 309 309 275606 5339521 All Received
O3MA-23-463 238 -51 0 474 474 275589 5339662 All Received
O3MA-23-466 224 -50 0 198 198 275352 5339477 Partial Result
O3MA-23-467 224 -50 0 234 234 275437 5339469 All Received
O3MA-23-469 224 -58 0 309 309 275450 5339567 Partial Result
O3MA-23-470 224 -45 0 351 351 275690 5339490 Partial Result
O3MA-23-471 224 -45 0 333 333 275317 5339798 All pending
O3MA-23-473 198 -50 0 510 510 275492 5339844 Partial Result
O3MA-23-474 193 -65 0 426 426 275384 5339713 Partial Result
O3MA-23-476 224 -45 0 450 450 275397 5339875 All pending
O3MA-23-477 224 -50 0 429 429 275409 5339764 Partial Result
O3MA-23-481 224 -45 0 207 207 274987 5340035 All pending
O3MA-23-480 224 -45 0 372 372 275266 5339857 All pending
O3MA-23-484 224 -45 0 231 231 275026 5340184 All pending
O3MA-23-485 224 -56 0 375 375 275188 5339891 All pending
O3MA-23-487 224 -45 0 270 270 275028 5339964 All pending
O3MA-23-489 224 -48 0 333 333 275116 5340224 All pending
O3MA-23-491 222 -56 0 105 105 275190 5339890 All pending

 

For full drilling results, please see our website www.o3mining.com.

 

Qualified Persons

 

The scientific and technical content of this news release has been prepared, reviewed and approved by Mr. Sébastien Vigneau (OGQ #993), Principal Geologist 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 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., an Osisko Group company, 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, previous mine-building success and expertise of the Osisko team as it grows towards being 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 (62,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange and OTC Markets. The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders.

 

Posted May 16, 2023

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