Welcome to our dedicated page for O3 MINING news (Ticker: OIIIF), a resource for investors and traders seeking the latest updates and insights on O3 MINING stock.
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 Inc. (TSXV: OIII, OTCQX: OIIIF) announced the filing of a technical report updating the mineral resource estimate for its 100% owned Marban Project. The report, prepared by Ausenco Engineering Canada Inc. and G Mining Services, is entitled 'NI 43-101 Technical Report and Mineral Resource Estimate for Marban Engineering, Val-d'Or, Quebec' and is effective as of February 27, 2022. There are no material differences between this report and the previous release dated March 1, 2022, which noted a 29% increase in the open-pit resource.
O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) has signed a definitive share purchase agreement to sell its East Cadillac Project in Val-d'Or, Québec to Cartier Resources Inc. The transaction will grant O3 Mining approximately 17.5% ownership in Cartier through the acquisition of 46,273,265 common shares. Additionally, an investor rights agreement will allow O3 Mining to appoint a director to Cartier’s board and includes provisions for pre-emptive rights and a standstill period. Closing is dependent on customary conditions, including TSX Venture Exchange approval.
O3 Mining has announced an updated Mineral Resource Estimate (MRE) for its Marban Project in Val-d'Or, Québec. This MRE reveals a total Open-Pit Mineral Resource of 2.3 million ounces of gold at an average grade of 1.07 g/t Au, marking a 29% increase in Indicated resources. The conversion rate from Inferred to Indicated resources exceeds 100%. The updated resource is based on 507,238 metres of drilling, with plans for an additional 20,000 metres for exploration to increase near-surface resources. The MRE will support a forthcoming Pre-Feasibility Study (PFS).
O3 Mining Inc. has signed a non-binding letter of intent with Cartier Resources Inc. to sell the East Cadillac Project located in Val-d'Or, Québec. In exchange, O3 Mining will receive approximately 46 million common shares of Cartier, representing 17.5% of the pro forma outstanding shares after the transaction closes. The deal is contingent on due diligence and regulatory approvals. O3 Mining aims to strategically monetize its exploration assets while maintaining significant shareholder exposure, aligning with its long-term growth strategy.
O3 Mining Inc. (TSXV: OIII, OTCQX: OIIIF) has announced a deal to sell its remaining 50% interest in the FCI Property in Québec to Patriot Battery Metals. The transaction includes 1.8 million shares of Patriot and a cash payment of C$3 million. This strategic divestment, aimed at enhancing shareholder value without dilution, will bolster O3 Mining's cash position for its 2022 drilling program. The deal is pending standard closing conditions, including Canadian Securities Exchange approval.
O3 Mining (OIIIF) reported promising results from metallurgical tests on drill core samples from its Marban Project in Quebec. The tests revealed gold recoveries of 96.7% at Marban Pit South, 95.8% at Marban Pit North, and 91.2% at Norlartic Pit, exceeding the Preliminary Economic Assessment's (PEA) estimate of 93.7%. The tests showed a quick leach time of 24 hours compared to PEA's 28 hours, indicating efficient gold extraction processes. Ausenco Engineering has been appointed to lead the upcoming Pre-Feasibility Study, expected to be completed by Q3 2022.
O3 Mining (TSXV: OIII, OTCQX: OIIIF) has completed its infill drilling program at the Marban project in Val-d'Or, Québec, focusing on gold resource conversion and expansion. The results from 12 drilled holes confirm significant mineralization and support an upcoming resource update. Highlights include 4.2 g/t Au over 12.7 metres in Marban and 2.0 g/t Au over 51.6 metres in Norlartic. The company plans to conduct a Pre-Feasibility Study (PFS) and extensive regional exploration, aiming for a resource update in Q1 2022 as part of its commitment to become a leading gold producer.
O3 Mining Inc. provides an update on its drilling program at the Marban and Alpha properties in Val-d'Or, Québec, with results indicating significant gold mineralization. Highlights include:
- 12.4 g/t Au over 1.9 metres in hole O3AL-21-380
- 12.0 g/t Au over 8.3 metres in O3AL-21-388
- 28.1 g/t Au over 0.9 metres in O3AL-21-391
The ongoing drilling program focuses on expanding resources near the Aurbel Mill and aims to enhance the project's viability. O3 Mining is advancing its 250,000-meter drilling initiative, with over 73,000 meters planned for 2022.
O3 Mining Inc. (TSXV: OIII | OTCQX: OIIIF) has released its 2022 outlook, highlighting a successful 2021. The company completed 118,951 meters of drilling, resulting in measured and indicated resources of 2.4 million ounces and 1.3 million ounces inferred. In 2022, O3 Mining plans 73,000 meters of drilling at its Marban and Alpha projects, focusing on resource expansion and pre-feasibility studies. Key environmental and community initiatives are also outlined, reinforcing the company's commitment to sustainable development.
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