O3 Mining Reports Results from Upper Camflo Drill Program, Marban Alliance
- O3 Mining drilled eight holes for a total of 1,806 meters and intersected 1.6 g/t Au over 1.5 meters in hole O3MA-23-503
- President and CEO optimistic about expanding resources and potential footprint of larger deposit
- None.
TSXV:OIII | OTCQX:OIIIF - O3 Mining
Highlights:
- O3 Mining drilled eight holes for a total of 1,806 metres over the Upper Camflo area along the up-dip extension of a gold-bearing structure identified during the compilation of historical exploration drilling completed by Barrick Gold on the former Camflo mine.
- The Upper Camflo drill program tested an area of 800 metres along strike for near surface gold mineralization near the border of the property.
- The program intersected 1.6 g/t Au over 1.5 metres in hole O3MA-23-503, associated with an andesite containing
5% quartz-calcite-pyrite veinlets
O3 Mining's President and Chief Executive Officer, Mr. Jose Vizquerra commented: "We are encouraged by the work completed on the Camflo deposit to date and are excited to continue our drill program over our Marban Alliance property to potentially expand resources. The results are in addition to the many gold zones found near the surface in the area. We hope that with further drilling we can demonstrate that these areas form the potential footprint of a larger deposit.."
The Upper Camflo drill program tested an area of 800 metres along strike for near-surface gold mineralization from the border of the property. The drill program was initiated after compilation work of Barrick Gold's historical drilling revealed parallel zones north of the former Camflo mine. One of the zones was intersected by a series of holes drilled horizontally by Barrick toward the north from the border of the property at the 2400 mining level (700 metres from surface). In particular, hole O3MA-23-503 intersected 1.6 g/t Au overs 1.5 metres near the surface and was associated with an andesite containing
In 2021 and 2022, exploration efforts by O3 Mining aimed to test the depth extensions of the historic Camflo deposit, as well as to test for additional high-grade zones (See news release of O3 Mining dated June 30, 2022 and entitled "O3 Mining Expands Mineralization Corridor At Camflo Extension, Intersecting 94 Metres at 1.1 g/t Au"). Over the course of the 2021-2022 drill program, a total of 6,338 metres in 2 drill holes and 3 wedges were drilled on the Camflo Extension. The results of the 2022 drill program are summarized in Table 2 below.
Table 1: Significant Results from previous drilling and Upper Camflo campaign
Hole | From | To | Grade | Core | Vertical | Zone |
O3MA-21-179 | 99.6 | 100.4 | 41.2 | 0.8 | 98 | Orion #8 |
O3MA-21-179 | 684.0 | 685.0 | 7.5 | 1.0 | 672 | |
O3MA-21-179 | 868.5 | 869.2 | 17.4 | 0.7 | 851 | |
O3MA-22-254-W1 | 1141.5 | 1143.1 | 4.7 | 1.6 | 1118 | |
O3MA-22-254-W1 | 1845.0 | 1923.6 | 0.6 | 78.6 | 1820 | Camflo |
O3MA-22-254-W1 | 1969.8 | 1972.0 | 3.8 | 2.2 | 1901 | Camflo |
O3MA-23-503 | 196.5 | 198.0 | 1.6 | 1.5 | 139 | Upper |
Table 2: Drill Hole Results from June 30, 2022 at Camflo Extension. Only intercepts above 5 g/t Au * m are reported.
Drill Hole | From (m) | To (m) | Interval (m) | Au(g/t) | Zone | |
O3MA-21-253 | 1268.0 | 1384.5 | 116.5 | 0.7 | Camflo | |
O3MA-21-253 | And | 1453.0 | 1454 | 1.0 | 26.8 | Camflo |
O3MA-21-253 | And | 1517.0 | 1520.8 | 3.8 | 1.9 | Camflo |
O3MA-22-253-W1 | 1258.9 | 1353.2 | 94.3 | 1.1 | Camflo | |
O3MA-22-253-W1 | including | 1274.8 | 1275.9 | 1.1 | 13.8 | Camflo |
O3MA-22-253-W1 | And | 1541.4 | 1543.0 | 1.6 | 2.6 | Camflo |
O3MA-22-253-W1 | And | 1551.0 | 1556.0 | 5.0 | 1.9 | Camflo |
O3MA-22-253-W2 | 1391.5 | 1477.0 | 85.5 | 0.7 | Camflo | |
O3MA-22-253-W2 | And | 1501.9 | 1506.1 | 4.2 | 1.4 | Camflo |
O3MA-22-253-W2 | And | 1657.0 | 1660.0 | 3.0 | 5.3 | Camflo |
O3MA-21-254 | 98.9 | 99.8 | 0.9 | 69.1 | Orion | |
O3MA-21-254 | And | 1536.0 | 1538.0 | 2.0 | 5.2. | Diorite Ore |
O3MA-21-254 | And | 1750.3 | 1914.2 | 163.9 | 0.5 | Camflo |
O3MA-21-254 | And | 2036.0 | 2037.5 | 1.5 | 14.2 | Camflo |
Table 3: Drill Hole Parameters from 2023 Program
Hole | Azimuth | Dip | Start | End | Length | Target Zone | UTM | UTM |
O3MA-23-490 | 178 | -45 | 0 | 177 | 177 | Upper Camflo | 273750 | 5338244 |
O3MA-23-493 | 178 | -45 | 0 | 192 | 192 | Upper Camflo | 273903 | 5338249 |
O3MA-23-495 | 181 | -45 | 0 | 201 | 201 | Upper Camflo | 274057 | 5338244 |
O3MA-23-497 | 178 | -45 | 0 | 201 | 201 | Upper Camflo | 274200 | 5338244 |
O3MA-23-498 | 178 | -45 | 0 | 201 | 201 | Upper Camflo | 274350 | 5338244 |
O3MA-23-501 | 178 | -45 | 0 | 201 | 201 | Upper Camflo | 274500 | 5338244 |
O3MA-23-503 | 178 | -45 | 0 | 204 | 204 | Upper Camflo | 274650 | 5338244 |
O3MA-23-508 | 270 | -45 | 0 | 228 | 228 | Upper Camflo | 274057 | 5338244 |
O3MA-23-511 | 90 | -45 | 0 | 201 | 201 | Upper Camflo | 274057 | 5338244 |
The Camflo deposit was first discovered in 1962 by Camflo Mines, and was in production for 30 years from 1962 to 1992. It produced a total of 1.89 million ounces of gold from 10.3 million tonnes of ore grading 5.7 g/t Au. From this amount, 0.24 million ounces of gold were extracted within the current Marban Alliance project claims (Source: QERPUB-M.E.R. Publication DV93-01 Rapports des Géologues Résidents sur l'Activité Minière Régionale, 1993). Historically, gold production was mainly restricted to the Camflo Plug, a cigar shaped quartz-monzonitic intrusion that plunges 60° towards the north-east. Although the Camflo plug at surface is outside O3 Mining's property claims, the extension of the plug and the mine below 800 vertical metres is within the Marban Alliance project, as it plunges toward the north-east
Figure 1: Marban Alliance Project Map
Figure 2: Location of significant intercepts at Upper Camflo
Figure 3: Camflo Extension Cross Section
The scientific and technical content of this news release has been prepared, reviewed and approved by Mr. Sébastien Vigneau (OGQ #993), Principal 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").
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 in
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
O3 Mining Inc. is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in
O3 Mining is well-capitalized and owns a
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. In this news release, such forward-looking information includes, but is not limited to, the following statements: the ability of the Corporation to expand its mineral resource with further drilling; the near surface potential of the Upper Camflo area, the Corporation's ability to demonstrate the footprint of the deposit with further drilling; the ability of exploration (including drilling) to accurately predict mineralization; the significance of prior production on or near the Marban Alliance project; the significance of the intercepts reported in this news release; the prospectivity of the Upper Camflo area; ; production being achieved at any of the Corporation's properties; the Corporation becoming a gold producer with several multi-million-ounce deposits in
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SOURCE O3 Mining Inc.