O3 Mining – Marban Continues To Show Growth Potential – Canada NewsWire
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TSXV:OIII | OTCQX:OIIIF – O3 Mining
TORONTO, Dec. 22, 2022 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to announce it continues advancing its Marban property in Val-d’Or Quebec, Canada, with exploration efforts focused on expanding the life of mine of the Marban project, as well as providing results from its 2022 infill and exploration drill program.
“2023 will be an ambitious year for O3 Mining as we work towards completing the Marban Engineering Feasibility Study (“FS”), as well as engage in exploration activities to unveil Marban’s growth potential over our 8,500 hectares property across the railroad from a world class deposit such as the Canadian Malartic Mine. Marban Engineering is a robust standalone project that can add more value to its NPV of C$463 million by discovering new ounces to extend the LOM. For every additional year of production (160,000oz Au), the impact on the fundamental value is between C$80 million to C$100 million.The more ounces added, the more value added to the project, therefore preparations are well underway for drill campaigns at Marban Engineering and Marban Regional, as well as compilation work from our summer soil sampling and channel sampling campaigns as we boost our exploration efforts.”, said O3 Mining President and Chief Executive Officer, Mr. Jose Vizquerra.
Table 1: Infill Drill Hole Intercepts (only intercepts above 20.0 g/t Au*m are reported, cut-off 0.3 g/t Au in or near pit shells)
Hole
from
to
Grade
Length
Zone
O3MA-22-323
28.0
56.8
1.0
28.8
Kierens
O3MA-22-326
39.0
44.8
5.4
5.8
Kierens
including
43.3
43.8
16.1
0.5
O3MA-22-347A
334.7
346.4
4.0
11.7
Norlartic
including
340.7
341.6
24.8
0.9
O3MA-21-219
73.2
102.9
1.4
29.7
Norlartic
O3MA-22-347A
56.0
66.8
2.5
10.8
North
including
58.4
59.0
20.1
0.6
O3MA-22-368
76.9
80.3
22.7
3.4
North
including
76.9
77.6
84.8
0.7
Table 2: Near Surface Exploration Drill Hole Intercepts (only intercepts above 5.0 g/t Au*m are reported, cut-off 0.3 g/t Au and above 200m from surface)
Hole
from
to
Grade
Length
Zone
O3MA-22-281
183.5
185.0
5.4
1.5
Between Norlartic and
North
O3MA-22-293
41.5
52.3
0.7
10.8
Triple North
Table 3: Deeper Exploration Drill Hole Intercepts (only intercepts above 5.0 g/t Au*m are reported, cut-off 0.3 g/t Au and below 200m from surface)
Hole
from
to
Grade
Length
Zone
O3MA-21-077
251.0
252.5
8.5
1.5
South of Kierens
O3MA-22-388
301.0
303.0
4.9
2.0
Norlartic Extension (Marban
Gabbro)
O3MA-22-432
689.6
690.1
1,045.0
0.5
Marban Footwall
Figure 1: Marban Project Surface Map
Figure 2: Marban Exploration Outlook
Figure 3: Marban Project – Drilling Highlights
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau. (OGQ #993), Principal Geologist, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
O3 Mining Inc., an Osisko Group company, 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, 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 Québec.
O3 Mining is well-capitalized and owns a 100% interest in all its properties (66,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE O3 Mining Inc.
For further information: on O3 Mining, please contact: José Vizquerra Benavides, President, CEO and Director, Toll-Free: +1 (833) 979-3516, Telephone: +1 (873) 381-2014
O3 Mining is well-capitalized and holds a 100% interest in properties in Québec (133,557 hectares) and Ontario (25,000 hectares). O3 Mining controls 66,064 hectares in Val-d'Or and over 50 kilometres of strike length of the Cadillac-Larder Lake Fault. O3 Mining also has a…
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