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O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) is a gold explorer and mine developer in Québec, Canada. With a focus on becoming a gold producer, the company owns multiple multi-million-ounce deposits. President and CEO, Mr. José Vizquerra, leads a team of industry experts fostering growth and success. Recent achievements include an infill drilling campaign on the Norlartic Extension and Malartic H areas, showing high-grade intercepts and mineralization. O3 Mining's projects, like Horizon, Marban, and Norlartic Extension, exhibit significant exploration potential and positive results, ensuring a prosperous future.
O3 Mining has launched an 8,000-metre drilling campaign at the Kinebik Project along the Casa Berardi trend. Two drill rigs have been mobilized to the Cameron and Florence sectors. The project covers 47,510 hectares and extends over 55 km along the auriferous Casa Berardi trend in the Abitibi Greenstone Belt. Historical drilling intercepts include 2.2 g/t Au over 13.8 m and 5.3 g/t Au over 5.5 m at Cameron Main, and 6.6 g/t Au over 4.7 m and 13.7 g/t Au over 5.0 m at the Desjardins property. The project is accessible year-round and is situated near major gold deposits including Casa Berardi (+5.0M oz Au), Douay (3.0M oz Au), and Vezza (0.3M oz Au).
O3 Mining has announced the final assay results from its 28,868-metre drilling campaign at the Malartic H deposit within the Marban Alliance project in Val-d'Or, Québec. Key highlights include intersections of 30.0 g/t Au over 3.0 metres, 40.2 g/t Au over 1.9 metres, and 1.8 g/t Au over 39.8 metres. The campaign, completed between January and August 2024, comprised 143 drill holes aimed at upgrading inferred mineral resources to indicated category. The Malartic H deposit spans 950 metres in strike length, 300 metres in width, and extends to a 500-metre vertical depth.
O3 Mining has acquired the Lac Esther Property from Midland Exploration, expanding its Kinebik Project along the Casa Berardi trend. The transaction was completed for a cash consideration of C$75,000, with Midland retaining a 2.0% net smelter return royalty. O3 Mining has the option to repurchase 50% of the NSR for C$500,000 and holds a right of first refusal on any sale of the NSR. This acquisition strengthens O3 Mining's presence in the Casa Berardi trend and aligns with their core exploration strategy to explore major geologic faults in Québec.
O3 Mining announces plans to complete a Preliminary Economic Assessment (PEA) on its Marban Alliance project in Val-d'Or, Québec, with results expected in Q4 2024. G Mining Services will lead the PEA, which will highlight advancements made since the August 2022 Prefeasibility study. The company plans to commence a Feasibility Study in early 2025, with results expected in H2 2025. Environmental baseline studies are set to complete in Q1 2025, followed by Impact Studies starting in Q2 2025. The project optimization includes improvements to mining and processing parameters, resource conversion of current pits, and integration of new satellite deposits like Malartic H.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) has announced a normal course issuer bid (NCIB) to purchase and cancel up to 8,252,733 of its common shares, representing approximately 10% of the company's 'public float'. The TSX Venture Exchange has approved the NCIB, which will run from October 23, 2024, to October 22, 2025. O3 Mining has engaged CIBC World Markets Inc. as its agent for the NCIB transactions.
The company believes that its shares are currently trading at a price that does not adequately reflect their value. Management views the share repurchase as a desirable use of available cash that will enhance shareholder value. The purchase and payment for the shares will be made at market price through the Exchange facilities, and all repurchased shares will be cancelled.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) has announced three new agreements for marketing and market-making services:
- A marketing consulting services agreement with Spark Newswire Inc., starting October 10, 2024, for an initial three-month term at US$100,000 per month.
- A market-making services agreement with Independent Trading Group (ITG), Inc., beginning October 10, 2024, for a monthly fee of $7,000.
- An agreement with Streetwise Reports to create and host a Company Profile Page, starting October 15, 2024, for a three-month term at US$17,000.
These engagements aim to increase investor engagement, market awareness, and ensure continued liquidity for O3 Mining's common shares. None of the service providers will receive shares or options as compensation, and they are unaffiliated with the
O3 Mining Inc. (TSXV: OIII; OTCQX: OIIIF) has announced a proposed transaction to acquire the Desjardins property from SOQUEM Inc., adjacent to O3's Kinebik Project in the Casa Berardi trend. This acquisition aligns with O3 Mining's core exploration strategy and further consolidates its presence in the area. The transaction involves O3 Mining acquiring 100% of SOQUEM's rights to the Desjardins Property for $100,000, to be satisfied by issuing 98,441 common shares of O3 Mining at approximately $1.016 per share. The deal is subject to TSX Venture Exchange approval, and the issued shares will have a four-month hold period. This move follows O3 Mining's previous consolidation efforts in the Casa Berardi trend, announced in December 2023.
O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) congratulates its largest shareholder, Osisko Mining Inc., on its C$2.16 billion acquisition by Gold Fields The all-cash transaction values Osisko shares at C$4.90 per share, representing a 55% premium to the 20-day volume-weighted average trading price. Osisko holds 18,291,854 common shares, or 20.7%, of O3 Mining. The deal is expected to create synergies and potentially impact O3 Mining's future operations. O3 Mining looks forward to working with Gold Fields following the completion of the transaction, which could bring new opportunities and strategic directions for the company.
O3 Mining (TSXV: OIII) (OTCQX: OIIIF) has reported positive metallurgical results from its Malartic H deposit at the Marban Alliance Project in Val-d'Or, Québec. Key highlights include:
- 92.3% overall gold extraction after 48 hours of cyanide leaching
- Average bond ball mill work index of 13.5 kWh/t
- 92.9% average global recovery for an average calculated head grade of 1.35 g/t
- 59% gravity recoverable gold in a three-stage extended test
The Malartic H deposit has a 950-meter strike length, is 300 meters wide, and extends to a depth of 500 meters. It's located within 5 km of the proposed processing plant outlined in the 2022 pre-feasibility study. These results provide confidence for potentially incorporating the deposit into the Marban Alliance mine plan.
O3 Mining has announced positive drilling results from its Malartic H deposit within the Marban Alliance project in Quebec, Canada. Key highlights include:
- 35.1 g/t Au over 4.5 metres, including 102.0 g/t Au over 1.5 metres
- 3.0 g/t Au over 15.4 metres
- 2.1 g/t Au over 19.3 metres, including 31.7 g/t Au over 0.7 metre
These results are part of a 24,505 metre drilling campaign aimed at converting inferred mineral resources to the indicated category. The Malartic H deposit shows potential for growth laterally and at depth. O3 Mining's CEO expressed optimism about the deposit's role in enhancing the Marban Alliance Project.
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