O3 Mining (TSXV: OIII) this morning provided the latest assay results from its ongoing drill programs in the Val-d’Or region of Quebec. The latest results come from three drill holes at the Kappa Zone of its Alpha Project.
Highlights from the drill program include:
- O3AL-21-380: 12.4 g/t gold over 1.9 metres
- O3AL-21-388: 12.0 g/t gold over 8.3 metres, 35.9 g/t gold over 1.1 metres
- O3AL-21-391: 28.1 g/t gold over 0.9 metres
The firm is currently focused on increasing its resource estimate for the Kappa Zone, due to the proximity of a 1,600 tpd mill that the firm acquired an option to purchase in 2020 from GMX Gold. A 6,000 metre drill program is currently focused on the zone.
Elsewhere, the company this morning provided an update for its current drill plans for both its Alpha and Marban properties in the region. Between the two properties, a total of 73,000 metres in aggregate are planned for the winter drill season.
A total of 33,000 metres of drilling are planned for Alpha currently, with the remainder to be focused at the Bulldog deposit and Omega sector where the firm is also looking to expand known mineralization.
Marban meanwhile has 40,000 metres planned across the project, where the firm is focused on the completion of a pre feasibility study for certain deposits on the property, while greenfield exploration is planned for the remainder of the property. Marban is currently planned to enter production by 2026.
O3 Mining last traded at $2.03 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
