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O3 Mining says resuming drilling with 12 rigs on 150,000-metre program on its properties in Val-d'Or Québec

Published: 07:15 06 Jan 2021 EST

O3 Mining Inc -
"2020 was an incredibly busy and successful year for O3 Mining and 2021 promises to be even more so with extensive drilling programs at both Malartic and Alpha properties"

O3 Mining Inc. (CVE:OIII) (OTCQX:OQMGF) has announced that it is resuming drilling with 12 drill rigs to continue executing the well-funded 150,000-metre drilling program on its properties in Val-d'Or Québec, Canada.

As planned, the increase to 12 rigs will allow the company to take advantage of the freezing winter conditions to test targets located in humid areas. Four rigs are operating on the Malartic property where a total of 45,000 metres of drilling is planned, and eight will focus on the Alpha property for a total of 100,000 metres of planned drilling.

READ: O3 Mining reports 'spectacular' drill assay from Simkar zone at its Alpha property in Québec

At Malartic, where the Marban gold project is located, the drilling is testing the extensions of the ore deposits included in the preliminary economic assessment (PEA) to grow the mineral resource base. Drilling will specifically target the Norlartic–Kierens, North-North, Marban, and Gold Hawk deposits. Other targets include extensions of historically mineralized zones located within three kilometres of the PEA pit shells, offering additional potential to increase the resources within the Marban project area. These targets include Gold Hawk, Orion #8, MK, and Marban NE.

The eight drill rigs at Alpha will continue to expand the Bulldog deposit at depth and laterally, explore depth extensions of Orenada #2, Orenada #4 down to 800 metres vertically. Additionally, it will follow-up on the promising intercepts at Simkar, explore extensions of the Epsilon zone (Golden Valley option) and the Akasaba deposit, and finally, it will test several targets generated from a combination of in-house data compilation and Artificial intelligence (AI) targeting study by Mira.

"2020 was an incredibly busy and successful year for O3 Mining and 2021 promises to be even more so with extensive drilling programs at both Malartic and Alpha properties," said O3 Mining president and CEO Jose Vizquerra in a statement

"We are aiming to rapidly add to our resource base and extend the mineralized footprint of both properties into new areas to make these projects some of the most attractive, and likely to be developed and exploited in the province," he added.

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 Québec and Ontario – with a goal of becoming a multi-million ounce, high-growth company.

O3 Mining is well-capitalized and holds a 100% interest in properties in Québec (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 Québec.

Contact the author at jon.hopkins@proactiveinvestors.com

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