O3 Mining Initiates Drilling at Malartic H
O3 Mining Inc. (OIIIF) announces the deployment of a second drill rig at the Malartic H deposit, part of a 14,000-meter exploration program at Marban. This initiative aims to delineate the main deposit and prepare a maiden resource estimate scheduled for Q2-2023. The drilling will cover 6,000 meters at Malartic H, which is located near the proposed processing plant, enhancing its potential for resource expansion.
The Malartic H deposit is notable for its recognized strike length of 600 meters and significant historical gold intercepts, indicating promising mineralization.
- Mobilization of a second drill rig at Malartic H to enhance resource estimation.
- 14,000-meter exploration program will improve resource delineation.
- Maiden mineral resource estimate expected in Q2-2023.
- None.
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"We are excited to continue mobilizing more rigs to our project as we are on track to complete the metres planned for this winter at Marban. The drilling at Malartic H will enable us to complete the delineation of the main deposit and publish a maiden inferred resource estimate during Q2-2023. We are confident that our systematic drilling campaign will allow us to identify additional ounces at Marban", said
- 14,000 brownfield exploration program with 6,000 metres planned for Malartic H
- Maiden mineral resource estimate expected in Q2-2023
Table 1: Historic drill intercepts reported by
Hole ID | Reported Intercept | Source |
54-25 | 39.96 g/t Au over 0.9 metres | 1 |
and | 1.01 g/t Au over 78.4 metres | |
54-31 | 4.43 g/t Au over 3.9 metres | 2 |
and | 3.94 g/t Au over 7.3 metres | |
14-07 | 5.07 g/t Au over 1.75 metres | 4 |
and | 2.78 g/t Au over 7.0 metres | |
MH-10-033 | 0.90 g/t Au over 54.5 metres | 1 |
including | 11.50 g/t Au over 1.2 metres | |
MH-10-078 | 5.42 g/t Au over 5.7 metres | 1 |
and | 3.45 g/t Au over 4.8 metres | |
MH-14-083 | 24.79 g/t Au over 1.2 metres | 3 |
MH-14-084 | 1.02 g/t Au over 23.2 metres | 3 |
including | 1.43 g/t Au over 13.4 metres | |
MH-89-09 | 4.09 g/t Au over 12.3 metres | 2 |
(1) | See news release of |
(2) | See news release of NioGold dated |
(3) | See news release of NioGold dated |
(4) | See Assessment Report #GM66156 of NioGold, a copy of which is available on Ministère des Ressources naturelles et des Forêts (https://sigeom.mines.gouv.qc.ca) |
* On |
The Malartic H deposit has a recognized strike length of 600 metres, 300 metres wide and down to a vertical depth of 500 metres. The mineralized system is partially open laterally and completely open at depth. It is located about 1 km to the north of
Figure 1:
Figure 2: Location of historic drill intercepts at Malartic H (NioGold)
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr.
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. The information in this news release about the transaction; and any other information herein that is not a historical fact may be "forward-looking information". 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. This forward-looking information is based on reasonable assumptions and 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 ability of the Corporation to produce a mineral resource estimate on Malartic in Q2 2023 (or at all); 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. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
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