O3 Mining Inc. [TSXV-OIII; OTCQX-OIIIF] has received partial assay results from its 24,505-metre drilling campaign completed between January and March 2024, on the Malartic H area within the Marban Alliance project in Val d’Or, Quebec, Canada.
Highlights: 119.1 g/t Au over 2.5 metres in hole O3MA-24-652 at a vertical depth of 114.2 metres, including 297.0 g/t over 1.0 metre on Malartic H; 80.6 g/t Au over 3.1 metres in hole O3MA-24-554A at a vertical depth of 33.6 metres, including 411.0 g/t over 0.6 metres on Malartic H and 1.9 g/t Au over 40.6 metres in hole O3MA-24-647 at a vertical depth of 77.6 metres on Malartic H.
O3 Mining’s President and Chief Executive Officer, Jose Vizquerra commented: “These high-grade intercepts from our 2024 infill drilling program at Malartic H represent the first set of assay results since our maiden mineral resource estimate in June 2023. Malartic H continues to show potential to grow both laterally and at depth and we remain hopeful that additional infill drilling could allow us to grow the deposit. These results continue to demonstrate the potential at Malartic H and the robustness of the Marban Alliance Project.”
The objective of the 2024 drilling campaign on the Malartic H deposit was the conversion to the indicated category of the inferred resource estimated in 2023. This campaign totalled 121 drill holes of which assay results for 56 of them are reported today. We will continue reporting as new assay results become available.
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 5 km of the proposed processing plant described in the pre-feasibility study published on Marban Alliance in 2022 and approximately 1 km 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.
Today’s news release also includes the last significant intercepts obtained from the fall 2023 drilling program at Norlartic Extension. O3 Mining intersected 9.6 g/t gold over 6.2 metres at Norlartic Extension, Marban Alliance.
The dyke swarm hosting the gold mineralization at Norlartic Extension is geologically identical to the one hosting the Norlartic and Kierens mineralization. They correspond to mafic and intermediate fine-grained dykes, which have been successfully traced along a 2-km trend and serve as a marker to the mineralized corridor.
O3 Mining is well-capitalized and owns a 100% interest in all its properties (107,000 hectares) in Quebec.
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