Press Release

O3 Mining Intersects 119.1 g/t Au over 2.5 Metres at Malartic H, Marban Alliance

April 17, 2024
Share
Figure 1: Photo of visible gold at 46.7 metres in hole O3MA-24-554A at Malartic H (CNW Group/O3 Mining Inc.)

Figure 2: Marban Alliance Project Map (CNW Group/O3 Mining Inc.)

Figure 3: Malartic H - Significant Intercepts Map (CNW Group/O3 Mining Inc.)

Figure 4: Norlartic Extension - Significant Intercepts Map (CNW Group/O3 Mining Inc.)

TSXV:OIII | OTCQX:OIIIF – O3 Mining

TORONTO, April 17, 2024 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation“) is pleased to announce that it has received partial assay results from its 24,505 metre drilling campaign completed between January and March 2024 on the Malartic H area within the Marban Alliance project, in Val-d’Or, Québec, Canada.

Highlights:

  • 119.1 g/t Au over 2.5 metres in hole O3MA-24-652 at a vertical depth of 114.2 metres, including 297.0 g/t over 1.0 metre on Malartic H
  • 80.6 g/t Au over 3.1 metres in hole O3MA-24-554A at a vertical depth of 33.6 metres, including 411.0 g/t over 0.6 metres on Malartic H
  • 1.9 g/t Au over 40.6 metres in hole O3MA-24-647 at a vertical depth of 77.6 metres on Malartic H

O3 Mining’s President and Chief Executive Officer, Mr. José Vizquerra commented: “These high-grade intercepts from our 2024 infill drilling program at Malartic H represent the first set of assay results since our maiden mineral resource estimate in June 2023. Malartic H continues to show potential to grow both laterally and at depth and we remain hopeful that additional infill drilling could allow us to grow the deposit. These results continue to demonstrate the potential at Malartic H and the robustness of the Marban Alliance Project.”

The objective of the 2024 drilling campaign on the Malartic H deposit was the conversion to the indicated category of the inferred resource estimated in 2023 (see news release of O3 Mining dated June 20, 2023 and entitled “O3 Mining Delivers Maiden Mineral Resource Estimate for Malartic H“). This campaign totalled 121 drill holes of which assay results for 56 of them are reported today. We will continue reporting as new assay results become available.

Malartic H Deposit

The Malartic H deposit has a recognized strike length of 950 metres, 300 metres wide and down to a vertical depth of 500 metres. It is located within five kilometres of the proposed processing plant described in the pre-feasibility study published on Marban Alliance in 2022 and approximately one kilometre to the north of the Malartic Hygrade former mine, near the hinge of a regional Z-shaped fold. The mineralized system is partially open laterally and completely open at depth. Notably, the Malartic H deposit is positioned between the northwestern extensions of the Marbenite and Norbenite shears, which host most of the resources of the Marban Alliance Project. At Malartic H, the two shears are northwest-trending and dipping around 70 degrees to the northeast. The deposit is hosted by an alternance of mafic and ultramafic volcanic sequence of the Jacola formation. Similar to the Hygrade area, numerous intermediate to felsic dyke systems are injected in the volcanic sequence. The mineralization occurs as disseminated pyrite with local visible gold in quartz veins and veinlets and disseminated in the host rock. Zones are spatially correlated shears within mafic volcanic units or with the intermediate to felsic dykes. All zones are roughly subparallel.

Today’s news release also includes the last significant intercepts obtained from the fall 2023 drilling program at Norlartic Extension (see news release of O3 Mining dated February 22, 2024 and entitled “O3 Mining Intersects 9.6 g/t Au over 6.2 Metres at Norlartic Extension, Marban Alliance“).

The dyke swarm hosting the gold mineralization at Norlartic Extension is geologically identical to the one hosting the Norlartic and Kierens mineralization. They correspond to mafic and intermediate fine-grained dykes, which have been successfully traced along a two-kilometre trend and serve as a marker to the mineralized corridor.

Figure 1: Photo of visible gold at 46.7 metres in hole O3MA-24-554A at Malartic H

Table 1: Drill Hole Intercepts. Only intercepts with metal factor above 5.0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.

Hole

From
(m)

To
(m)

Grade
(g/t Au)

Core Length
(m)

Vertical Depth
(m)

Metal Factor
(g/t Au x m)

Zone

O3MA-24-554A

44.2

47.3

80.6

3.1

33.6

249.8

Malartic H

Including

46.7

47.3

411.0

0.6

34.5

246.6

O3MA-24-555

13.0

18.4

2.6

5.4

11.2

14.0

O3MA-24-560

116.5

121.0

2.9

4.5

89.3

13.2

Including

120.5

121.0

15.3

0.5

90.7

7.6

O3MA-24-570

57.1

58.5

4.0

1.4

43.5

5.7

116.4

119.2

1.8

2.8

87.4

5.0

O3MA-24-583

106.0

118.9

0.6

12.9

76.0

8.2

O3MA-24-598

63.3

65.3

3.5

2

56.9

7.0

70.0

78.4

1.4

8.4

65.6

12.1

167.5

170.3

2.3

2.8

149.0

6.5

O3MA-24-602

25.7

27.5

3.1

1.8

17.7

5.5

O3MA-24-603

102.3

117.9

0.9

15.6

76.1

13.7

O3MA-24-607

85.3

88.0

3.7

2.7

78.9

10.0

O3MA-24-612

32.3

35.0

2.8

2.7

23.1

7.6

64.9

67.5

2.5

2.6

45.8

6.4

75.0

87.9

1.1

12.9

56.4

14.5

118.6

139.4

1.3

20.8

88.6

26.6

O3MA-24-617

23.1

32.7

1.3

9.6

27.0

12.1

135.6

143.5

0.7

7.9

137.3

5.3

O3MA-24-618

248.0

255.5

0.7

7.5

217.1

5.6

O3MA-24-619

9.5

16.0

1.1

6.5

8.4

7.0

29.5

31.2

3.0

1.7

21.1

5.1

59.5

61.4

4.5

1.9

42.7

8.6

O3MA-24-622A

92.9

100.0

0.9

7.1

92.1

6.1

211.0

219.0

0.7

8

205.2

5.4

O3MA-24-623

56.1

60.9

2.0

4.8

43.0

9.4

191.1

193.2

4.6

2.1

132.3

9.6

O3MA-24-628

27.2

32.0

1.9

4.8

20.0

9.2

60.5

67.8

0.7

7.3

44.0

5.2

O3MA-24-637

192.8

212.0

1.6

19.2

176.7

31.2

O3MA-24-641*

110.5

120.0

3.2

9.5

80.7

30.3

Table 1 (continued):  Drill Hole Intercepts. Only intercepts with metal factor above 5.0 (g/t Au x metres) are reported, cut-off 0.3 g/t Au and above 200 metres from surface. See Table 2 below for full technical parameters.

Hole

From
(m)

To
(m)

Grade
(g/t Au)

Core Length
(m)

Vertical Depth
(m)

Metal Factor
(g/t Au x m)

Zone

O3MA-24-645*

6.6

7.8

6.3

1.2

5.4

7.5

Malartic H

194.3

198.2

1.3

3.9

137.4

5.1

O3MA-24-647

63.6

104.2

1.9

40.6

77.6

75.6

117.0

126.0

1.1

9

112.4

10.0

129.6

136.0

1.4

6.4

122.8

8.9

139.2

143.3

1.5

4.1

130.6

6.1

O3MA-24-652*

83.0

87.7

2.5

4.7

58.6

11.9

166.5

169.0

119.1

2.5

114.2

297.7

Including

166.5

167.5

297

1

113.8

297

O3MA-23-543

124.4

126.0

3.3

1.6

109.6

5.3

Norlartic Extension

O3MA-23-544

44.2

48.4

1.4

4.2

42.1

6.0

70.0

75.3

1.8

5.3

63.7

9.7

104.3

107.6

2.1

3.3

91.1

6.9

O3MA-23-545

45.3

48.0

2.1

2.7

43.1

5.6

61.0

78.0

1.4

17

62.3

24.5

O3MA-23-547

134.0

142.5

1.1

8.5

102.7

9.1

True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated.

*Interval where metallic sieve analysis is pending

Figure 2: Marban Alliance Project Map 

Figure 3: Malartic H – Significant Intercepts Map

Figure 4: Norlartic Extension – Significant Intercepts Map

Table 2: Technical parameters of holes of the 2023-2024 campaign at Malartic H and Norlartic Extension that have received assay results

Hole

Azimuth
(°)

Dip

(°)

Start

Depth

(m)

End

Depth

(m)

Length

UTM Zone

18 Easting (m)

UTM Zone18
Northing (m)

Assays

Status

O3MA-24-549

224

-45

0

141.3

141.3

275488

5339570

All Received

O3MA-24-550A

224

-49

0

182.7

182.7

275596

5339618

All Received

O3MA-24-551A

215

-81

0

129.2

129.2

275488

5339570

All Received

O3MA-24-552

226

-50

0

183.1

183.1

275484

5339510

All Received

O3MA-24-553

224

-50

0

158.6

158.6

275625

5339582

All Received

O3MA-24-554A

224

-48

0

213

213

275521

5339495

All Received

O3MA-24-555

224

-45

0

126

126

275453

5339528

All Received

O3MA-24-557

224

-50

0

189

189

275558

5339526

All Received

O3MA-24-559

224

-55

0

225

225

275372

5339515

All Received

O3MA-24-560

224

-46

0

168

168

275593

5339450

All Received

O3MA-24-562

224

-45

0

162

162

275565

5339478

All Received

O3MA-24-563

63

-85

0

108

108

275373

5339515

All Received

O3MA-24-564

225

-45

0

105

105

274985

5339922

All Received

O3MA-24-565

224

-55

0

180

180

275383

5339432

All Received

O3MA-24-566A

225

-60

0

107.9

107.9

275605

5339351

All Received

O3MA-24-569

224

-45

0

189.1

189.1

275374

5339457

All Received

O3MA-24-570

224

-46

0

180.1

180.1

275570

5339372

All Received

O3MA-24-571

224

-45

0

105

105

275060

5339878

All Received

O3MA-24-572

225

-55

0

108

108

275553

5339412

All Received

O3MA-24-574

224

-45

0

105

105

275562

5339317

All Received

O3MA-24-575

224

-45

0

147

147

275101

5339918

All Received

O3MA-24-576

224

-45

0

143.6

143.6

275531

5339336

All Received

O3MA-24-579

224

-50

0

170.6

170.6

275307

5339451

All Received

O3MA-24-581

224

-45

0

137.9

137.9

275079

5339843

All Received

O3MA-24-583

224

-45

0

147

147

275492

5339396

All Received

O3MA-24-584A

224

-45

0

123

123

275285

5339487

All Received

O3MA-24-587

224

-45

0

90

90

275289

5339382

All Received

O3MA-24-589

224

-50

0

174

174

275481

5339457

All Received

O3MA-24-590

224

-50

0

99

99

275270

5339416

All Received

O3MA-24-591

224

-45

0

96

96

274948

5339878

All Received

O3MA-24-592

224

-45

0

108

108

275184

5339503

All Received

O3MA-24-594

224

-45

0

105

105

275222

5339483

All Received

O3MA-24-597

224

-45

0

94.6

94.6

275243

5339449

All Received

O3MA-24-598

214

-63

0

231

231

275190

5339965

All Received

O3MA-24-599

225

-66

0

156

156

275020

5340267

All Received

O3MA-24-600

224

-45

0

102

102

275039

5339803

All Received

O3MA-24-602

224

-45

0

138.2

138.2

275081

5339786

All Received

O3MA-24-603

224

-45

0

213.2

213.2

275201

5339958

All Received

O3MA-24-604

224

-45

0

171.1

171.1

274987

5340286

All Received

O3MA-24-607

197

-65

0

261

261

275201

5339958

All Received

O3MA-24-612

224

-45

0

221.9

221.9

275207

5339749

All Received

O3MA-24-613

239

-65

0

186

186

275154

5339953

All Received

O3MA-24-614

224

-45

0

110.8

110.8

274989

5340199

All Received

O3MA-24-615

206

-45

0

291.2

291.2

275172

5340092

Partial

O3MA-24-617

239

-80

0

207

207

275154

5339953

All Received

O3MA-24-618

238

-59

0

369

369

275512

5339760

All Received

O3MA-24-619

224

-45

0

201

201

275141

5339956

All Received

O3MA-24-622A

216

-72

0

225

225

275119

5339999

Partial

O3MA-24-623

228

-46

0

216

216

275115

5340141

All Received

O3MA-24-628

224

-45

0

183

183

275110

5339983

All Received

O3MA-24-637

212

-64

0

312

312

275419

5339755

All Received

O3MA-24-641

224

-45

0

159.1

159.1

275028

5340011

Partial

O3MA-24-645

224

-45

0

200.7

200.7

275069

5340051

Partial

O3MA-24-647

225

-70

0

165

165

275216

5339862

All Received

O3MA-24-652

224

-45

0

174

174

274979

5340083

All Received

O3MA-24-654

224

-45

0

346

346

275298

5339941

Partial

Qualified Person

The scientific and technical content of this news release has been prepared, reviewed, and approved by Mr. Louis Gariepy , P.Eng (OIQ #107538), VP Exploration of O3 Mining, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“).

Quality Assurance/Quality Control

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, Québec, and Mississauga, Ontario for assaying. The core is crushed to 75% passing -2 mm (10 mesh), a 250 g split of this material is pulverized to 85% passing 75 microns (200 mesh) and 50 g is analyzed by Fire Assay (FA) with an Atomic Absorption Spectrometry (AAS) finish. Samples assaying >10.0 g/t Au are re-analyzed 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 and quality control (“QA/QC”) program. Third-party assays are submitted to other designated laboratories for 5% of mineralized samples. Drill program design, 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 Inc. is a gold explorer and mine developer on the road to produce from its highly prospective gold camps in Québec, Canada. O3 Mining benefits from the support and expertise of a team of industry leaders as it grows towards becoming a gold producer with several multi-million-ounce deposits in Québec.

O3 Mining is well-capitalized and owns a 100% interest in all its properties (107,000 hectares) in Québec. O3 Mining trades on the TSX Venture Exchange (TSXV: OIII) and OTC Markets (OTCQX: OIIIF). The Corporation is focused on delivering superior returns to its shareholders and long-term benefits to its stakeholders. Further information can be found on our website at https://o3mining.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Forward-looking statements including, but are not limited to, statements with respect to planned and ongoing drilling, the significance of drill results, the ability to continue drilling, the impact of drilling on the definition of any resource, the ability to incorporate new drilling in an updated technical report and resource modelling. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking statements Forward-looking information is based on estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the drill results at Malartic H; the significance of drill results; the ability of drill results to accurately predict mineralization; the ability of any material to be mined in a matter that is economic. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation believes that this forward-looking information is based on reasonable assumptions, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. These statements speak only as of the date of this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

SOURCE O3 Mining Inc.

For further information: For further information on O3 Mining, please contact: José Vizquerra | CEO, President & Director, info@o3mining.com; Alex Rodriguez | Vice President, Corporate Development, arodriguez@o3mining.com, Telephone: +1 (647) 391-7724, Toll Free: +1 (833) 979-3516

Recent posts

O3 Mining Received 2024 PDAC Sustainable Development Award

TORONTO, March 6, 2024 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is proud to announce that it has been honored with the 2024 PDAC Sustainable Development Award. This award, given by the Prospectors & Developers Association of Canada (PDAC), recognizes companies demonstrating an exceptional commitment to sustainable development in the mining industry.

View the post March 6, 2024

O3 Mining Intersects 9.6 g/t Au over 6.2 Metres at Norlartic Extension, Marban Alliance

TORONTO, Feb. 22, 2024 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to announce that it has received initial results from its 2,886 metre infill drilling campaign completed between November 2023 and January 2024 on the Norlartic Extension area within the Marban Alliance project, in Val-d’Or, Québec, Canada.

View the post February 22, 2024

O3 Mining Releases Outlook 2024

TORONTO, Jan. 31, 2024 /CNW/ – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to provide a review of 2023 and an outline of the outlook for 2024 focusing on essential catalysts of de-risking the Marban Alliance project, progressing potential strategic synergies, and kicking off the feasibility study. The Corporation is excited to enter a new phase of development in 2024 while maintaining its dedication to community engagement and sustainability.

View the post January 31, 2024

Restez à l’affût

Afin de toujours être au courant des dernières nouvelles en lien avec le projet Marban Alliance, inscrivez-vous à notre infolettre ci-dessous.