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O3 Mining Inc
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Close 2020-11-23 C$ 2.32
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O3 Mining drills two m of 383.4 g/t Au at Marban

2020-11-24 08:44 ET - News Release

Mr. Jose Benavides reports


O3 Mining Inc. has provided new drilling results from the Marban project in Val d'Or, Que., as part of its well-financed 150,000-metre drilling program.

Current drilling on the Malartic property is focused on expanding mineralization outside of the proposed pit areas (outlined in the Marban preliminary economic assessment (PEA) released Sept. 8, 2020) and identifying high-grade oreshoots. The 2020 to 2021 drilling program includes 45,000 metres for the Malartic property to test extensions along strike and down plunge of the deposits and zones outside of these areas.

"Gold Hawk is shaping up to be a very promising potential high-grade satellite deposit for the Marban mine development project, just two kilometres away. The high-grade intercepts confirm the exceptional high-grade characteristic of the gold deposits along the prolific Marbenite shear corridor giving us the confidence to continue the drill program to more quickly unlock its potential and build resources there," said president and chief executive officer Jose Vizquerra.

New assay results from seven drill holes drilled down plunge at the Gold Hawk zone include the following.

Drilling highlights

  • 383.4 grams per tonne Au over 2.0 metres in hole O3MA-20-008, including 1,510 g/t Au over 0.5 metre;
  • 1.8 g/t Au over 5.0 metres in hole O3MA-20-002;
  • 16.8 g/t Au over 0.5 metre in hole O3MA-20-003.

A 3-D model of the Marban deposit and the Gold Hawk zone is available on the company's website.

These drill holes targeted extensions down plunge of the Gold Hawk zone. The zone is emplaced along the Marbenite shear, one of the main structures in the district which hosts the Marban and Orion No. 8 deposits as well as Wesdome's Kiena deposit. The drill holes hit the Gold Hawk zone between 390 metres and 570 metres below surface at 50- to 100-metre spacing. There are pending results from three follow-up drill holes around O3 MA-20-008. The encouraging results received so far from Gold Hawk support a decision to continue the exploration program to further explore the mineralization extensions of hole O3MA-20-008, which remain open to the west and at depth.

Drill hole ID           From (m)          To (m)    Interval (m)     Au uncut (g/t)  Mineralized zone

O3MA-20-001               143.5           145.0             1.5                4.4                  -
O3MA-20-002               489.8           494.8             5.0                1.8          Gold Hawk
O3MA-20-003               588.0           588.5             0.5               16.8          Gold Hawk
O3MA-20-008               552.8           554.8             2.0              383.4          Gold Hawk
Including                 553.8           554.3             0.5            1,510.0
O3MA-20-008               558.4           559.5             1.1                5.3          Gold Hawk
Note: True width determination is currently unknown but is estimated at 65 to 80 per cent of the 
      reported core length interval for the zones.

Drill hole O3MA-20-008 intersected two mineralized intervals within the Gold Hawk zone. The first interval returned 383.4 g/t Au over 2.0 metres including 1,510 g/t Au over 0.5 metre. Mineralization is associated with visible gold and traces of pyrrhotite and chalcopyrite within quartz veinlets in basalt at the contact with a komatiite. The second interval, four metres deeper, returned 5.3 g/t Au over 1.1 metres. Mineralization is associated with quartz-carbonate veinlets within a komatiite. Drill hole O3MA-20-002 intersected 1.8 g/t Au over 5.0 metres along the same basalt-komatiite contact as O3MA-20-008. Mineralization is associated with visible gold within quartz-carbonate veinlets in a komatiite.

Drill hole O3MA-20-003 intersected 16.8 g/t Au over 0.5 metre. Mineralization is associated with talc-calcite veinlets crosscutting komatiite. Drill hole O3MA-20-001 intersected 4.4 g/t Au over 1.5 metres. Mineralization consists of up to 1 per cent disseminated pyrite and dismembered quartz-carbonate veinlets within a granodiorite.

Qualified person

The scientific and technical content of this news release has been reviewed, prepared and approved by Louis Gariepy (OIQ No. 107538), vice-president of exploration, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

Quality control and reporting protocols

True width determination is currently unknown but is estimated at 65 to 80 per cent of the reported core length interval for the zones. Assays are uncut except where indicated. 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 Val d'Or, Que., and Mississauga, Ont., for assaying. The core is crushed to 75 per cent passing minus two millimetres (10 mesh), a 250-gram split of this material is pulverized to 85 per cent passing 75 microns (200 mesh) and 50 g is analyzed by fire assay (FA) with an atomic absorption spectrometry (AAS) finish. Samples assaying over 10.0 grams per tonne Au are reanalyzed with a gravimetric finish using a 50 g charge. 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/quality control program. Third party assays are submitted to other designated laboratories for 5 per cent of all samples. Drill program design, quality assurance/quality control (QA/QC) and interpretation of results are performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices.

About O3 Mining Inc.

O3 Mining, which forms part of the Osisko Group of companies, is a mine development and emerging consolidator of exploration properties in prospective gold camps in Canada -- focused on projects in Quebec and Ontario -- with a goal of becoming a multimillion-ounce, high-growth company.

O3 Mining is well capitalized and holds a 100-per-cent interest in properties in Quebec (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 portfolio of assets in the Chibougamau region of Quebec.

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