O3 Mining Inc (TSX-V:OIII, OTCQX:OIIIF) has provided an update on the well-funded 40,000 metre (m) drilling program on its Marban Project in Val-d'Or, Quebec, Canada, which seeks to convert, expand, and discover new gold resources.
The company reported results from seven holes drilled on brownfield targets at Marban Engineering as well as providing an update on the summer exploration plan and ongoing activities at Marban Regional.
In a statement, O3 Mining's president and chief executive officer, Jose Vizquerra commented: "Our 2022 Brownfield exploration program at Marban Engineering continues to highlight the potential to increase the near-surface resources, especially following the release of our recently updated Mineral Resource Estimate. Not only do the results published today confirm the high potential to expand the current pits but also to grow the future production scenario, improve the project economics and extend the mine life of the project."
READ: O3 Mining encouraged by drill results at Camflo extension deposit at Marban project, Quebec
Drilling highlights include:
- 2.3 grams per ton (g/t) gold (Au) over 14.8m in hole O3MA-22-300 on the Norlatic Extension
- Confirmation that the Norlartic Extension is a near-surface high potential area covering 1.8 kilometres (km) by 300m and containing at least four stacked zones just north of the Marban deposit
- 1.4 g/t Au over 16.4m in hole O3MA-22-279 on the North-North zone, 60 metres east of the 2022 Resources Pit Shell
A 40,000m brownfield exploration program has been underway at Marban Engineering with four drill rigs targeting areas outside of the resource pits from the updated Mineral Resource Estimate (MRE) in order to expand the mineralization along strike and increase resources. Part of the expansion drilling program targets the Norlartic Extension area, located north of the Marban deposit and south-east of the Norlartic deposit.
The area contains at least four stacked zones where three of which correspond to the geological continuation of the Norlartic zone and form a 300m wide corridor that could extend for 1.8 km. The ongoing campaign aims to systematically drill the entire strike length of the corridor to define new near-surface economic mineralization. To date, 16 drill holes have successfully intersected the Norlartic Extension mineralization covering a strike length of 650m, exceeding the 2022 resource pit shells, showing positive continuity.
Surface exploration work has also commenced on the Marban Regional area following ongoing compilation work. The summer program will include channel sampling, mapping, and soil sampling in highly prospective areas identified through previous compilation work combining available government data, historic property assessment reports, and our new high-definition drone magnetic survey that covers the entire property.
Marban Regional covers an area of 5,773 hectares and has seen little exploration work by previous operators. The property hosts several historic showings, including the Audet showing, where a bulk sample yielded 3,615 tonnes grading 3.05 g/t Au. This showing is emplaced along the La Pause break, the same break hosting the historic Camflo mine approximately 5 km to the southeast. Marban regional also covers the potential northwestern extensions of the Marbenite and Norbenite shear zones, over more than 5 km, and also the gold-bearing Parfouru break affecting the Blake River volcanics.
Vizquerra added: "We are very excited to have initiated exploration work in the Marban Regional area of the Marban Project. This underexplored, large land package offers significant exploration potential upside, with several historic showings, promise for a new discovery, and room to further grow the mineral resource."
O3 Mining, an Osisko Group company, is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Quebec, Canada. It is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Quebec.
The company 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 Quebec.
Contact the author at jon.hopkins@proactiveinvestors.com