O3 Mining Inc (TSX-V:OIII, OTCQX:OIIIF) has posted more encouraging drill results from its Québec assets, which show the potential to expand gold mineralization at the Kappa zone at its Alpha property.
The latest assays come from three holes sunk at the Alpha project, which is part of the firm's ongoing 250,000 metre (m) program at the Marban and Alpha projects. Highlights included 12.4 grams per ton (g/t) gold at the Kappa zone over an intercept of 1.9m from a depth of 53m.
"I am very excited about today's drill results which give us confidence in the continuity of gold mineralization and the potential of the Kappa Zone which extends at depth and remains open in many directions," Jose Vizquerra, the CEO of O3, told investors in a statement.
"The proximity of the Kappa and Bulldog zones creates the potential for a sizeable project with robust grade, thickness, and continuity. We are eager to continue our 2022 winter drilling program where we will continue expansion drilling in the Kappa Zone through the coming months," he added.
READ: O3 Mining plans 73,000 metres of drilling at its Alpha and Marban projects in 2022
Also intersected was 12 g/t gold over 8.3m and 8.1 g/t of the precious metal over 2m in a section at a depth between 625m and 663m in the Kappa zone which remains open at depth and laterally, said the company.
Unlike Bulldog, the Kappa zone shows a clear association with silver, noted O3 Mining, while the Kappa structure occurs about 150m north of the Bulldog zone.
Based on the promising drill results, O3 Mining added that it had now assigned 6,000m of drilling to expand the Kappa zone with two rigs operating to fulfill the program this winter.
Earlier in January, the company said it had 73,000m of drilling planned at the Alpha and Marban projects this year and 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.
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