03 Mining (TSXV:OIII) Initiates Drill Program at Marban Project, Quebec

Figure 1: Marban Project Surface Map. Source: O3 Mining Inc.

Montreal-based O3 Mining Inc. (TSXV:OIII) has announced the launch of its exploration program at the Marban Project, with the mobilization of two drills at Marban Engineering to focus on the Upper Camflo area and Orion deposit. The program, which includes 24,800 metres of drilling, aims to test an area of 800 metres along strike for near-surface gold mineralization.

O3 Mining’s President and Chief Executive Officer, Mr. Jose Vizquerra commented in a press release: “We are encouraged by the compilation work completed on the Camflo and Orion deposits and are excited to continue our drilling campaign on our Marban property in an effort to expand resources. Proximal to the historic Camflo mine, Upper Camflo and Orion offer the possibility of generating near surface resources in the halo of the past producers.”

The exploration program was initiated after a compilation of Barrick Gold’s historical drilling revealed parallel zones north of the Camflo mine. One of the zones was intersected by a series of holes drilled horizontally and toward the north from the border of the property at the 2400 mining level, 700 metres from surface.

Figure 2: Upper Camflo and Orion Drilling Areas. Source: O3 Mining Inc.

The Orion mine, located in the Marban Project, produced 22,367 gold ounces from 131,000 tonnes at 5.3 g/t Au from 1987 to 1990. The zone is outcropping and surface channel samples have revealed a high-grade and wide auriferous zone, where the best channel samples returned 21.8 g/t Au over 11.2 metres.

As part of the exploration program, three drill holes will be used to validate historical high-grade assays outside the near-surface mining stopes. O3 Mining’s exploration efforts are supported by the Osisko team, which brings expertise and previous mine-building success to the table.

O3 Mining is a gold explorer and mine developer with properties covering a total of 66,000 hectares in Quebec. The company is well-capitalized and owns a 100% interest in all its properties, with several multi-million-ounce deposits in Quebec. The Marban Project is one of its highly prospective gold camps, which is on the road to becoming a gold producer.

Highlights from the announcement are as follows:

  • O3 Mining to drill 1,500 metres near surface on 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.

O3 Mining to drill 900 metres near surface around the former Orion mine to confirm possible ore material left above and below the historical mining stopes.

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

Comments are closed.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.

MOST ACTIVE MINING STOCKS

 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Athena Resources Ltd. AHN.AX +22.22%
 Adavale Resources Limited ADD.AX +22.22%
 Azimut Exploration Inc. AZM.V +21.98%
 New Stratus Energy Inc. NSE.V +21.05%
 Dynasty Gold Corp. DYG.V +18.42%
 Azincourt Energy Corp. AAZ.V +18.18%
 Gladiator Resources Limited GLA.AX +17.65%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.