O3 Mining Inc (TSX-V:OIII, OTCQX:OIIIF) told investors that it has 73,000 metres (m) of drilling planned at its Alpha and Marban projects in Quebec this year.
Outlining plans for 2022 and a review of last year, the company said that it aims to complete a pre-feasibility study (PFS) on Marban by the third quarter this year.
The Marban project, where 40,000m of drilling is planned this year, spans over 7,500 hectares and sits just 12 kilometres (km) from the famous Canadian Malartic mine.
The Alpha asset, where 33,000m is earmarked, spans over 7,754 hectares and sits 8 km east of Val-d'Or and 3 km south of the El Dorado Lamaque mine. At Alpha, the aim is to expand the known deposits at Kappa and Bulldog and proceed to a resource estimate when it is merited.
READ: O3 Mining unveils latest infill drill results from Marban project, which augurs well for updated resource
O3 said it will also follow up on significant Sigma-type veins, which were hit in the Omega sector to prove an auriferous system near to Eldorado's Lamaque mine.
The company also noted that its sustainable development initiatives will remain at the core of its strategy in 2022.
José Vizquerra, CEO of O3 Mining, said in the statement: "2021 was a very successful year for O3 Mining. At Marban, we successfully completed an infill drilling program to convert inferred resources within the preliminary economic assessment (PEA) pits, and we also aggressively drilled to expand mineralization outside the proposed PEA pits.
"This will be included in an updated resource in the coming months. In 2022, our focus is to complete the Pre-feasibility study (PFS) at Marban all while continuing to drill at the Camflo extension at depth testing for Potential Economic Material (PEM) with the aim to grow the potential mining operation.
"At the Alpha project, our focuses are to convert PEM to the inferred resource category in the Akasaba sector, expand the resource for both the Kappa and Bulldog deposits while also focusing on exploration of the Omega sector."
He added: "The Alpha project has a purchase option agreed on the Aurbel mill at which we will be conducting a scoping study for the mill and its tailings. We are excited for what is to come in 2022 and look forward to accomplishing many more milestones."
Last year, the company drilled 118,951m at Marban and Alpha projects in a bid to expand current resources of 2.4 million ounces measured and indicated and 1.3 million ounces of inferred and make new discoveries.
O3 Mining is an Osisko Group company and is a gold explorer and mine developer on the road to production from its highly prospective gold camps in Québec, Canada.
Contact the writer at giles@proactiveinvestors.com