TSXV:OIII | OTCQX:OIIIF - O3 Mining TORONTO , Nov. 19, 2024 /PRNewswire/ - O3 Mining Inc. OIII OIIIF ("O3 Mining" or the " Corporation ") is pleased to announce that it has received the third and final set of assay results from its 28,868 metre drilling campaign completed between January 2024 and August 2024 on the Malartic H deposit (" Malartic H ") within the Marban Alliance project, in Val-d'Or , Québec, Canada (the " Marban Alliance Project ").
Highlights: 30.0 g/t Au over 3.0 metres in hole O3MA-24-707 at a vertical depth of 241.
4 metres, including 101 g/t Au over 0.7 metres on Malartic H 40.2 g/t Au over 1.
9 metres in hole O3MA-24-701 at a vertical depth of 141.3 metres, including 151 g/t Au over 0.5 metres on Malartic H 1.
8 g/t Au over 39.8 metres in hole O3MA-24-642 at a vertical depth of 55.6 metres O3 Mining's President and Chief Executive Officer, Mr.
José Vizquerra commented: "We are pleased to announce the receipt of the final assay results from our infill drilling campaign at Malartic H, completed earlier this year. These results mark the third and final set of assays, following the initial results on April 17, 2024 , and the second set of results on July 18, 2024 . With the completion of this campaign and the full compilation of assay data, we are now positioned to work on a mineral resource estimate as we focus on upgrading the current inferred resource to the measured and/or indicated categories.
We are proud of the progress made at Malartic H, which continues to reinforce our confidence in the strength of the Marban Alliance project and the strategic value Malartic H brings to it." The objective of the 2024 drilling campaign on the Malartic H deposit is to upgrade mineral resources that are currently classified as inferred mineral resources in the Corporation's current mineral resource estimate to the indicated mineral resource category (see news release of O3 Mining dated June 20, 2023 and entitled " O3 Mining Delivers Maiden Mineral Resource Estimate for Malartic H " ). The 2024 drilling campaign totaled 143 drill holes of which assay results for 45 drill holes are being reported today (all results received).
The results for 56 and then 42 drill holes were previously reported (see news release of O3 Mining dated April 17, 2024 , entitled " O3 Mining Intersects 119.1 g7/t Au over 2.5 Metres at Malartic H, Marban Alliance and the news release of O3 Mining dated July 18, 2024 , entitled " O3 Mining Intersects 102.
0 g/t Au over 1.5 Metres at Malartic H, Marban Alliance " ). Malartic H Deposit 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 five kilometres of the proposed processing plant described in the pre-feasibility study published on the Marban Alliance Project in 2022 and approximately one kilometre to the 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.
Figure 1: Photo of visible gold at 241.9 metres in hole O3MA-24-707 at Malartic H Table 1: Drill Hole Intercepts at Malartic H. Only intercepts with metal factor above 5.
0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.
Hole From (m) To (m) Vertical Depth (m) Grade (g/t Au) Core Length (m) Metal Factor (g/t Au x m) O3MA-24-578 24.4 32.9 19.
3 0.9 8.5 7.
7 O3MA-24-578 37.1 44.7 28 0.
9 7.6 6.5 O3MA-24-593 85.
5 105 65.4 0.6 19.
5 11.5 O3MA-24-593 114.2 135.
8 85.7 1.2 21.
6 26.8 O3MA-24-605 130.7 132 92.
3 5.2 1.3 6.
8 O3MA-24-608 50 57.7 35.5 1.
3 7.7 10.1 O3MA-24-610 4 18.
1 6.5 1.8 14.
1 26.0 O3MA-24-631A 153.4 156.
7 130.4 1.7 3.
3 5.6 O3MA-24-635 46.5 52.
2 34 1.2 5.7 7.
0 O3MA-24-638 51.6 57.1 38.
2 0.9 5.5 5.
2 O3MA-24-638 61.1 77 48.6 3.
3 15.9 51.9 Including 70.
5 71.5 50 33.6 1 33.
6 O3MA-24-638 207.5 215.1 146.
7 0.7 7.6 5.
1 O3MA-24-639 46.4 52 33.7 1.
2 5.6 6.6 O3MA-24-642 55.
6 95.4 62.2 1.
8 39.8 70.2 O3MA-24-644 46.
2 57 34.4 3.2 10.
8 35.0 Including 55 56 37 18.8 1 18.
8 O3MA-24-646 160.7 162 108.5 4 1.
3 5.2 O3MA-24-646 169.5 171 114.
3 9.2 1.5 13.
8 O3MA-24-646 179 184 121.7 1.5 5 7.
6 O3MA-24-648 20.2 22.9 17.
1 2.3 2.7 6.
3 O3MA-24-648 39.6 49.7 36.
3 0.9 10.1 9.
2 O3MA-24-660A 134.7 142.9 120.
7 2 8.2 16.5 Including 137.
8 138.6 120 12.8 0.
8 10.2 O3MA-24-660A 315 316 272.7 5.
8 1 5.8 O3MA-24-697 69.4 70.
5 52.4 5.5 1.
1 6.1 O3MA-24-697 194 201 140 1.1 7 8.
0 O3MA-24-699 208 210.2 159.3 3 2.
2 6.5 O3MA-24-699 290.9 295.
2 223.3 1.9 4.
3 8.2 O3MA-24-699 298.3 301 228.
3 2.8 2.7 7.
6 O3MA-24-699 337.8 347 260.9 5.
9 9.2 53.9 Including 338.
8 339.5 258 14.1 0.
7 9.9 Including 339.5 340 259 63.
9 0.5 32.0 O3MA-24-699 352 358 270.
4 2.2 6 13.5 O3MA-24-699 401.
9 405 306.6 13.9 3.
1 43.0 Including 402.5 403 306 43.
7 0.5 21.8 Including 403 403.
5 306 14.9 0.5 7.
4 O3MA-24-700 396.7 400.8 278.
1 2.2 4.1 8.
9 O3MA-24-701 59 68.5 44.7 0.
6 9.5 5.3 O3MA-24-701 104.
7 109.2 74.8 1.
9 4.5 8.6 O3MA-24-701 141.
3 143.2 99.1 40.
2 1.9 76.5 Including 141.
3 141.8 99 151 0.5 75.
5 O3MA-24-701 189.5 204 136.3 0.
6 14.5 8.6 O3MA-24-702 73 77.
2 54.3 1.2 4.
2 5.0 O3MA-24-702 91 93.6 66.
8 3.1 2.6 8.
0 O3MA-24-702 113.7 118.6 84 1.
4 4.9 6.8 O3MA-24-702 126.
6 136.5 95 1.1 9.
9 11.1 O3MA-24-702 181.8 198.
9 136.8 1.7 17.
1 29.1 O3MA-24-703 211.6 215 163.
7 1.8 3.4 6.
1 O3MA-24-703A 201 205.5 145.9 8.
8 4.5 39.5 Including 203 204 146 30.
9 1 30.9 O3MA-24-703A 325.5 330 231.
7 5.1 4.5 23.
0 O3MA-24-704 107.6 113 78 7.5 5.
4 40.3 Including 110 111 78 17.8 1 17.
8 O3MA-24-705 232.8 236.6 184.
8 4.9 3.8 18.
6 O3MA-24-705 288.5 293.5 228.
3 1.7 5 8.6 O3MA-24-705 391.
5 400 309.2 0.8 8.
5 6.5 O3MA-24-706B 116 119.5 93.
4 2.3 3.5 8.
0 O3MA-24-706B 277.5 281.1 220.
9 1.4 3.6 5.
1 O3MA-24-706B 284.7 292.3 228.
1 4 7.6 30.0 Including 286.
6 287.3 227 14.5 0.
7 10.2 O3MA-24-707 241.4 244.
4 171.6 30 3 90.1 Including 242.
5 243.2 172 101 0.7 70.
7 O3MA-24-707 249.7 260 179.7 2.
2 10.3 22.4 O3MA-24-708 150 151.
5 102.4 7.3 1.
5 10.9 O3MA-24-708 260.4 273.
5 178.1 2.3 13.
1 30.6 O3MA-24-710 218.7 228.
5 181.9 2.7 9.
8 26.4 Including 228 228.5 186 17.
5 0.5 8.8 O3MA-24-710 233.
5 235 190.4 18.7 1.
5 28.0 Including 233.5 234 190 20.
4 0.5 10.2 Including 234 234.
5 190 34.2 0.5 17.
1 O3MA-24-710 286.8 299.3 237 3.
9 12.5 49.1 Including 288.
8 289.7 234 13.1 0.
9 11.8 O3MA-24-711 416.6 425 353.
3 1.1 8.4 9.
5 O3MA-24-711 497 504 417.6 1.3 7 9.
0 O3MA-24-714 122.3 146 106.5 0.
7 23.7 15.5 O3MA-24-714 213.
5 217.7 170.1 1.
3 4.2 5.4 O3MA-24-714 298.
8 304 237.1 1.6 5.
2 8.6 True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated.
Figure 2: Marban Alliance Project Map Figure 3: Malartic H - Significant Intercepts Map Table 2: Technical parameters of holes of the 2024 campaign at Malartic H that have received assay results Hole Azimuth (°) Dip (°) Start Depth (m) End depth (m) Length UTM Zone 18 Easting (m) UTM Zone 18 Northing (m) Assays Status O3MA-24-549 224 -45 0 141.3 141.3 275488 5339570 All Received O3MA-24-550A 224 -49 0 182.
7 182.7 275596 5339618 All Received O3MA-24-551A 215 -81 0 129.2 129.
2 275488 5339570 All Received O3MA-24-552 226 -50 0 183.1 183.1 275484 5339510 All Received O3MA-24-553 224 -50 0 158.
6 158.6 275625 5339582 All Received O3MA-24-554A 224 -48 0 213.0 213.
0 275521 5339495 All Received O3MA-24-555 224 -45 0 126.0 126.0 275453 5339528 All Received O3MA-24-556 224 -45 0 153.
0 153.0 275410 5339496 All Received O3MA-24-557 224 -50 0 189.0 189.
0 275558 5339526 All Received O3MA-24-558 224 -45 0 96.0 96.0 274904 5339951 All Received O3MA-24-559 224 -55 0 225.
0 225.0 275372 5339515 All Received O3MA-24-560 224 -46 0 168.0 168.
0 275593 5339450 All Received O3MA-24-561 224 -45 0 96.0 96.0 274939 5339929 All Received O3MA-24-562 224 -45 0 162.
0 162.0 275565 5339478 All Received O3MA-24-563 63 -85 0 108.0 108.
0 275373 5339515 All Received O3MA-24-564 225 -45 0 105.0 105.0 274985 5339922 All Received O3MA-24-565 224 -55 0 180.
0 180.0 275383 5339432 All Received O3MA-24-566A 225 -60 0 107.9 107.
9 275605 5339351 All Received O3MA-24-567 224 -45 0 106.0 106.0 275028 5339904 All Received O3MA-24-569 224 -45 0 189.
1 189.1 275374 5339457 All Received O3MA-24-570 224 -46 0 180.1 180.
1 275570 5339372 All Received O3MA-24-571 224 -45 0 105.0 105.0 275060 5339878 All Received O3MA-24-572 225 -55 0 108.
0 108.0 275553 5339412 All Received O3MA-24-573 224 -45 0 141.1 141.
1 275329 5339417 All Received O3MA-24-574 224 -45 0 105.0 105.0 275562 5339317 All Received O3MA-24-575 224 -45 0 147.
0 147.0 275101 5339918 All Received O3MA-24-576 224 -45 0 143.6 143.
6 275531 5339336 All Received O3MA-24-578 224 -45 0 168.0 168.0 275120 5339880 All Received O3MA-24-579 224 -50 0 170.
6 170.6 275307 5339451 All Received O3MA-24-580 224 -45 0 144.0 144.
0 275514 5339371 All Received O3MA-24-581 224 -45 0 137.9 137.9 275079 5339843 All Received O3MA-24-583 224 -45 0 147.
0 147.0 275492 5339396 All Received O3MA-24-584A 224 -45 0 123.0 123.
0 275285 5339487 All Received O3MA-24-585 224 -45 0 93.0 93.0 275017 5339842 All Received O3MA-24-587 224 -45 0 90.
0 90.0 275289 5339382 All Received O3MA-24-588 224 -45 0 96.0 96.
0 274987 5339864 All Received O3MA-24-589 224 -50 0 174.0 174.0 275481 5339457 All Received O3MA-24-590 224 -50 0 99.
0 99.0 275270 5339416 All Received O3MA-24-591 224 -45 0 96.0 96.
0 274948 5339878 All Received O3MA-24-592 224 -45 0 108.0 108.0 275184 5339503 All Received O3MA-24-593 224 -45 0 216.
0 216.0 275187 5339776 All Received O3MA-24-594 224 -45 0 105.0 105.
0 275222 5339483 All Received O3MA-24-595 252 -45 0 188.0 188.0 275590 5339613 All Received O3MA-24-597 224 -45 0 94.
6 94.6 275243 5339449 All Received O3MA-24-598 214 -63 0 231.0 231.
0 275190 5339965 All Received O3MA-24-599 225 -66 0 156.0 156.0 275020 5340267 All Received O3MA-24-600 224 -45 0 102.
0 102.0 275039 5339803 All Received O3MA-24-602 224 -45 0 138.2 138.
2 275081 5339786 All Received O3MA-24-603 224 -45 0 213.2 213.2 275201 5339958 All Received O3MA-24-604 224 -45 0 171.
1 171.1 274987 5340286 All Received O3MA-24-605 224 -45 0 147.0 147.
0 275098 5339751 All Received O3MA-24-606 234 -55 0 198.1 198.1 275099 5340231 All Received O3MA-24-607 197 -65 0 261.
0 261.0 275201 5339958 All Received O3MA-24-608 224 -45 0 201.0 201.
0 275138 5339789 All Received O3MA-24-609 210 -52 0 162.2 162.2 275071 5340220 All Received O3MA-24-610 224 -45 0 132.
0 132.0 275106 5339700 All Received O3MA-24-611 224 -45 0 189.0 189.
0 275160 5339920 All Received O3MA-24-612 224 -45 0 221.9 221.9 275207 5339749 All Received O3MA-24-613 239 -65 0 186.
0 186.0 275154 5339953 All Received O3MA-24-614 224 -45 0 110.8 110.
8 274989 5340199 All Received O3MA-24-615 206 -45 0 291.2 291.2 275172 5340092 All Received O3MA-24-617 239 -80 0 207.
0 207.0 275154 5339953 All Received O3MA-24-618 238 -59 0 369.0 369.
0 275512 5339760 All Received O3MA-24-619 224 -45 0 201.0 201.0 275141 5339956 All Received O3MA-24-620 224 -56 0 165.
0 165.0 275095 5340185 All Received O3MA-24-621 223 -46 0 162.0 162.
0 275326 5339526 All Received O3MA-24-622A 216 -72 0 225.0 225.0 275119 5339999 All Received O3MA-24-623 228 -46 0 216.
0 216.0 275115 5340141 All Received O3MA-24-624 224 -56 0 291.0 291.
0 275512 5339760 All Received O3MA-24-625 224 -67 0 177.0 177.0 275326 5339526 All Received O3MA-24-626 238 -67 0 237.
0 237.0 275115 5340141 All Received O3MA-24-627 202 -51 0 226.0 226.
0 275471 5339696 All Received O3MA-24-628 224 -45 0 183.0 183.0 275110 5339983 All Received O3MA-24-630 224 -45 0 198.
0 198.0 275073 5340113 All Received O3MA-24-631A 224 -56 0 285.0 285.
0 275480 5339725 All Received O3MA-24-632 224 -45 0 150.0 150.0 275071 5339944 All Received O3MA-24-633 224 -45 0 132.
1 132.1 275021 5340118 All Received O3MA-24-634 228 -85 0 204.0 204.
0 275326 5339526 All Received O3MA-24-635 224 -45 0 180.0 180.0 275070 5339999 All Received O3MA-24-636 224 -45 0 141.
2 141.2 274989 5340144 All Received O3MA-24-637 212 -64 0 312.0 312.
0 275419 5339755 All Received O3MA-24-638 224 -45 0 282.0 282.0 275216 5339862 All Received O3MA-24-639 224 -45 0 117.
0 117.0 274983 5339970 All Received O3MA-24-641 224 -45 0 159.1 159.
1 275028 5340011 All Received O3MA-24-642 225 -58 0 279.0 279.0 275216 5339862 All Received O3MA-24-643A 196 -47 0 318.
0 318.0 275419 5339755 All Received O3MA-24-644 224 -45 0 96.0 96.
0 274947 5339991 All Received O3MA-24-645 224 -45 0 200.7 200.7 275069 5340051 All Received O3MA-24-646 224 -45 0 189.
0 189.0 275031 5340073 All Received O3MA-24-647 225 -70 0 165.0 165.
0 275216 5339862 All Received O3MA-24-648 224 -57 0 180.0 180.0 275263 5339576 All Received O3MA-24-649 201 -51 0 309.
0 309.0 275390 5339693 All Received O3MA-24-651 224 -45 0 247.5 247.
5 275275 5339698 All Received O3MA-24-652 224 -45 0 174.0 174.0 274979 5340083 All Received O3MA-24-654 224 -45 0 346.
0 346.0 275298 5339941 All Received O3MA-24-655 224 -45 0 178.1 178.
1 275167 5339707 All Received O3MA-24-656 224 -51 0 166.0 166.0 275292 5339546 All Received O3MA-24-657 224 -45 0 87.
1 87.1 275085 5339628 All Received O3MA-24-659 224 -45 0 144.1 144.
1 275221 5339538 All Received O3MA-24-660A 216 -61 0 339.1 339.1 275379 5339707 All Received O3MA-24-661 224 -45 0 144.
0 144.0 275263 5339525 All Received O3MA-24-662 224 -45 0 96.2 96.
2 275027 5339736 All Received O3MA-24-663 224 -45 0 106.0 106.0 275056 5339712 All Received O3MA-24-665 224 -45 0 105.
1 105.1 275063 5339663 All Received O3MA-24-666 224 -50 0 348.0 348.
0 275368 5339727 All Received O3MA-24-668 224 -45 0 126.0 126.0 275184 5339558 All Received O3MA-24-670 224 -45 0 96.
0 96.0 275144 5339517 All Received O3MA-24-671 224 -46 0 168.0 168.
0 275481 5339614 All Received O3MA-24-672 224 -45 0 180.0 180.0 275725 5339392 All Received O3MA-24-673 224 -45 0 114.
0 114.0 275150 5339580 All Received O3MA-24-674 224 -60 0 273.0 273.
0 275327 5339635 All Received O3MA-24-675 224 -77 0 177.0 177.0 275481 5339614 All Received O3MA-24-676 252 -47 0 246.
0 246.0 275460 5339589 All Received O3MA-24-677 224 -50 0 129.0 129.
0 275113 5339603 All Received O3MA-24-678 224 -45 0 405.0 405.0 275382 5339908 All Received O3MA-24-679 226 -47 0 222.
0 222.0 275460 5339589 All Received O3MA-24-680 202 -50 0 235.0 235.
0 275327 5339635 All Received O3MA-24-681 245 -47 0 231.0 231.0 275598 5339669 All Received O3MA-24-682 224 -45 0 201.
0 201.0 275233 5339658 All Received O3MA-24-684 224 -45 0 150.0 150.
0 275670 5339384 All Received O3MA-24-685 224 -50 0 240.1 240.1 275280 5339648 All Received O3MA-24-691 224 -45 0 129.
0 129.0 274948 5340158 All Received O3MA-24-692 224 -45 0 105.0 105.
0 274911 5340068 All Received O3MA-24-693 224 -45 0 120.0 120.0 274949 5340106 All Received O3MA-24-694 224 -45 0 141.
0 141.0 274893 5340004 All Received O3MA-24-695 224 -45 0 180.0 180.
0 274936 5340043 All Received O3MA-24-696 236 -48 0 402.0 402.0 275382 5339908 All Received O3MA-24-697 206 -45 0 313.
0 313.0 275133 5340126 All Received O3MA-24-698 224 -45 0 297.0 297.
0 275319 5339739 All Received O3MA-24-699 224 -53 0 405.0 405.0 275397 5339875 All Received O3MA-24-700 224 -46 0 441.
0 441.0 275449 5339861 All Received O3MA-24-701 224 -45 0 285.0 285.
0 275285 5339762 All Received O3MA-24-702 224 -45 0 276.0 276.0 27525q 5339785 All Received O3MA-24-703A 224 -45 0 381.
0 381.0 275407 5339822 All Received O3MA-24-704 224 -45 0 279.2 279.
2 275226 5339815 All Received O3MA-24-705 223 -52 0 435.0 435.0 275456 5339814 All Received O3MA-24-706B 241 -52 0 306.
0 306.0 275294 5339825 All Received O3MA-24-707 224 -45 0 327.0 327.
0 275294 5339825 All Received O3MA-24-708 224 -45 0 351.0 351.0 275363 5339780 All Received O3MA-24-710 225 -55 0 308.
9 308.9 275294 5339825 All Received O3MA-24-711 224 -64 0 609.0 609.
0 275382 5339908 All Received O3MA-24-714 224 -50 0 348.0 348.0 275341 5339796 All Received Qualified Person The scientific and technical content of this news release has been reviewed and approved by Mrs.
Fati Cor Seck, Geo (OGQ #1656), Senior Geologist of O3 Mining, who is a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101 "). Quality Assurance/Quality Control Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat Laboratory located in Val-d'Or , Québec, and Mississauga, Ontario , for assaying.
The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed with a gravimetric finish using a 50 g charge.
Commercial certified standard material and blanks are systematically inserted by O3 Mining's geologists into the sample chain after every 18 core samples as part of the quality assurance and quality control (" QA/QC ") program. Third-party assays are submitted to other designated laboratories for 5% of mineralized samples. Drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.
About O3 Mining Inc. O3 Mining Inc. is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada .
O3 Mining benefits from the support and expertise of a team of industry leaders as it grows towards becoming a gold producer with several multi-million-ounce deposits in Québec. O3 Mining is well-capitalized and owns a 100% interest in all its properties (127,100 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange OIII and OTC Markets OIIIF .
The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com .
Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling, the Corporation's ability to grow the Malartic H deposit and the ability to convert inferred mineral resources to indicated mineral resources. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at Malartic H; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information.
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O3 Mining Receives Final Assay Results at Malartic H, Intersects 30.0 g/t Au over 3.0 Metres, Marban Alliance
TSXV:OIII | OTCQX:OIIIF - O3 MiningTORONTO, Nov. 19, 2024 /PRNewswire/ - O3 Mining Inc. (TSXV:OIII) (OTCQX:OIIIF) ("O3 Mining" or the "Corporation") is pleased to announce that it has received the third and final set of assay results from its 28,868 metre drilling campaign completed between January 2024 and August 2024 on the Malartic H deposit ("Malartic H") within the Marban Alliance project, in Val-d'Or, Québec, Canada (the "Marban Alliance Project").Highlights:30.0 g/t Au over 3.0 metres in hole O3MA-24-707 at a vertical depth of 241.4 metres, including 101 g/t Au over 0.7 metres on Malartic H40.2 g/t Au over 1.9 metres in hole O3MA-24-701 at a vertical depth of 141.3 metres, including 151 g/t Au over 0.5 metres on Malartic H1.8 g/t Au over 39.8 metres in hole O3MA-24-642 at a vertical depth of 55.6 metresO3 Mining's President and Chief Executive Officer, Mr. José Vizquerra commented: "We are pleased to announce the receipt of the final assay results from our infill drilling campaign at Malartic H, completed earlier this year. These results mark the third and final set of assays, following the initial results on April 17, 2024, and the second set of results on July 18, 2024. With the completion of this campaign and the full compilation of assay data, we are now positioned to work on a mineral resource estimate as we focus on upgrading the current inferred resource to the measured and/or indicated categories. We are proud of the progress made at Malartic H, which continues to reinforce our confidence in the strength of the Marban Alliance project and the strategic value Malartic H brings to it."The objective of the 2024 drilling campaign on the Malartic H deposit is to upgrade mineral resources that are currently classified as inferred mineral resources in the Corporation's current mineral resource estimate to the indicated mineral resource category (see news release of O3 Mining dated June 20, 2023 and entitled "O3 Mining Delivers Maiden Mineral Resource Estimate for Malartic H"). The 2024 drilling campaign totaled 143 drill holes of which assay results for 45 drill holes are being reported today (all results received). The results for 56 and then 42 drill holes were previously reported (see news release of O3 Mining dated April 17, 2024, entitled "O3 Mining Intersects 119.1 g7/t Au over 2.5 Metres at Malartic H, Marban Alliance and the news release of O3 Mining dated July 18, 2024, entitled "O3 Mining Intersects 102.0 g/t Au over 1.5 Metres at Malartic H, Marban Alliance").Malartic H DepositThe 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 five kilometres of the proposed processing plant described in the pre-feasibility study published on the Marban Alliance Project in 2022 and approximately one kilometre to the 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.Figure 1: Photo of visible gold at 241.9 metres in hole O3MA-24-707 at Malartic HTable 1: Drill Hole Intercepts at Malartic H. Only intercepts with metal factor above 5.0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.HoleFrom(m)To(m)VerticalDepth(m)Grade(g/t Au)Core Length(m)Metal Factor (g/t Au x m)O3MA-24-57824.432.919.30.98.57.7O3MA-24-57837.144.7280.97.66.5O3MA-24-59385.510565.40.619.511.5O3MA-24-593114.2135.885.71.221.626.8O3MA-24-605130.713292.35.21.36.8O3MA-24-6085057.735.51.37.710.1O3MA-24-610418.16.51.814.126.0O3MA-24-631A153.4156.7130.41.73.35.6O3MA-24-63546.552.2341.25.77.0O3MA-24-63851.657.138.20.95.55.2O3MA-24-63861.17748.63.315.951.9Including70.571.55033.6133.6O3MA-24-638207.5215.1146.70.77.65.1O3MA-24-63946.45233.71.25.66.6O3MA-24-64255.695.462.21.839.870.2O3MA-24-64446.25734.43.210.835.0Including55563718.8118.8O3MA-24-646160.7162108.541.35.2O3MA-24-646169.5171114.39.21.513.8O3MA-24-646179184121.71.557.6O3MA-24-64820.222.917.12.32.76.3O3MA-24-64839.649.736.30.910.19.2O3MA-24-660A134.7142.9120.728.216.5Including137.8138.612012.80.810.2O3MA-24-660A315316272.75.815.8O3MA-24-69769.470.552.45.51.16.1O3MA-24-6971942011401.178.0O3MA-24-699208210.2159.332.26.5O3MA-24-699290.9295.2223.31.94.38.2O3MA-24-699298.3301228.32.82.77.6O3MA-24-699337.8347260.95.99.253.9Including338.8339.525814.10.79.9Including339.534025963.90.532.0O3MA-24-699352358270.42.2613.5O3MA-24-699401.9405306.613.93.143.0Including402.540330643.70.521.8Including403403.530614.90.57.4O3MA-24-700396.7400.8278.12.24.18.9O3MA-24-7015968.544.70.69.55.3O3MA-24-701104.7109.274.81.94.58.6O3MA-24-701141.3143.299.140.21.976.5Including141.3141.8991510.575.5O3MA-24-701189.5204136.30.614.58.6O3MA-24-7027377.254.31.24.25.0O3MA-24-7029193.666.83.12.68.0O3MA-24-702113.7118.6841.44.96.8O3MA-24-702126.6136.5951.19.911.1O3MA-24-702181.8198.9136.81.717.129.1O3MA-24-703211.6215163.71.83.46.1O3MA-24-703A201205.5145.98.84.539.5Including20320414630.9130.9O3MA-24-703A325.5330231.75.14.523.0O3MA-24-704107.6113787.55.440.3Including1101117817.8117.8O3MA-24-705232.8236.6184.84.93.818.6O3MA-24-705288.5293.5228.31.758.6O3MA-24-705391.5400309.20.88.56.5O3MA-24-706B116119.593.42.33.58.0O3MA-24-706B277.5281.1220.91.43.65.1O3MA-24-706B284.7292.3228.147.630.0Including286.6287.322714.50.710.2O3MA-24-707241.4244.4171.630390.1Including242.5243.21721010.770.7O3MA-24-707249.7260179.72.210.322.4O3MA-24-708150151.5102.47.31.510.9O3MA-24-708260.4273.5178.12.313.130.6O3MA-24-710218.7228.5181.92.79.826.4Including228228.518617.50.58.8O3MA-24-710233.5235190.418.71.528.0Including233.523419020.40.510.2Including234234.519034.20.517.1O3MA-24-710286.8299.32373.912.549.1Including288.8289.7Full story available on Benzinga.com