The Toronto-based company sunk 12,260 metres over 25 holes as part of its planned 15,000 metre drill program.
Highlights of the recent results include intercepts of 9.7 grams per ton gold over 1.8 metres.
East Cadillac covers nearly 20 kilometres of a highly prospective segment of the Cadillac Larder Lake Fault corridor that surrounds the Chimo gold mine, which historically produced 379,000 ounces of gold with an average grade of 4 grams per ton gold.
The drill intercepts at the North Contact and Simon West expanded the historic intercepts with superior grade intervals and remained open laterally and at depth, according to O3’s CEO Jose Vizquerra.
“These results demonstrate a significant potential to build economic zones in terms of size, grade and at shallow depth,” Vizquerra told shareholders in a statement.
Drilling at the property is currently on hold as a result of the coronavirus pandemic.
“Once the Quebec government lifts the suspension, we will complete what is remaining of the 15,000 meters program,” Vizquerra said.
“These positive results increase our confidence in the potential for gold mineralization in East Cadillac and will help focus our drilling for Phase 2.”
O3 Mining, part of the Osisko group of companies, is an emerging consolidator of exploration properties in prospective gold camps in Canada, with a focus on projects in Quebec and Ontario.
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