O3 Mining Inc (TSX-V:OIII, OTCQX:OIIIF) told investors it has now completed its infill drill program at the Marban project in Québec, which continues to confirm the potential to expand mineral resources there.
The firm reported assays from 12 holes—part of its ongoing 250,000 metre (m) program—at its assets in the Canadian province.
"The infill drilling program at Marban has continuously demonstrated structural continuity and expansion of mineralization in both open pit and underground mine scenarios," said Jose Vizquerra, O3 Mining's CEO.
"The drill holes reported today reconfirm our expectations of expanding the gold resource in the open pits at Marban and allow us to focus on providing a resource update in the coming months.
"Throughout 2022, activity at Marban will be focused on Marban Engineering, undertaking the completion of the Marban Pre-Feasibility Study (PFS) and future economic studies, as well as focusing on the Marban Regional greenfield exploration program."
READ: O3 Mining reports more encouraging drill results from Québec
From the Marban zone, drill highlights included 4.2 grams per ton (g/t) gold over 12.7 metres (m) from 262.4m depth in one hole, including an intercept showing 25 g/t gold over 1.8 metres in one hole, which was sunk in the proposed preliminary economic assessment (PEA) pit.
At the Norlartic zone, 1.2 g/t gold over 18.6 metres from 13.9m depth and 2 g/t gold over 51.6m from 47.5m depth was encountered.
Part of the 2021 drilling program was designed to convert a significant proportion of the in-pit Marban resources into the indicated category from inferred.
All results will be included in an updated resource for Marban, which is to be completed by an independent contractor and is expected to be released during the first quarter of 2022, it added.
The company's 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. Its Alpha asset, where 33,000m of drilling 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.
O3 has sunk 118,951 metres in 2021 on its Val-d'Or properties testing for potential economic material (PEM) with 100-metre step-outs aiming to expand current resources of 2.4 million ounces measured and indicated (62 million tonnes (Mt) at 1.22 g/t gold) and 1.3 million ounces inferred (19 Mt at 2.13 g/t gold) 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 author at giles@proactiveinvestors.com