Press Release
TORONTO, Jan. 16, 2023 – O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining” or the “Corporation”) is pleased to provide its outlook and catalysts for 2023 in addition to a review of 2022.
“In 2022 our team set very ambitious goals to maximize the value for our shareholders and stakeholders and show that Marban can be a profitable standalone project. The team’s tireless efforts to deliver on all milestones highlighted in 2022, show our commitment to our shareholders and our belief in this project. With a positive market outlook for 2023, we look forward to starting the Feasibility Study (“FS”), as well as unveiling Marban’s growth potential by engaging in exploration activities over our 8,500-hectare property. We will continue to deploy our participatory approach with the authorities and stakeholders in the development of the Marban Engineering Project to not only improve the project but to make it an even more responsible mining project”, said O3 Mining President and Chief Executive Officer, Mr. Jose Vizquerra.
Marban Project in 2023
Feasibility Study
Growth Potential at Marban – 26,000 Metres of Planned Drilling
In 2023, exploration efforts will be focused on expanding the life of mine (“LOM”) of the Marban project with a total of 26,000 metres of planned drilling. The drilling contract was assigned to a joint venture between RJLL Drilling and Assibi Industries (a partnership aimed to create a link for the Anishnabe Nation of Lac-Simon and drilling activities on their territory).
Table 1: Summary of Planned Drilling at Marban
Areas |
Metres Planned |
Targets |
Marban Engineering near pit |
2,000 |
Norlartic, North and Kierens |
Marban Engineering resource |
14,700 |
Malartic H, Hygrade Fold, North North |
Marban Regional |
9,300 |
Gold: Low mag features along the Marbenite |
Figure 1: 2023 Planned Drilling at MarbanSustainable Development in 2023
O3 Mining initiated the permitting and environmental evaluation at both federal and provincial levels. After consulting with interested parties on what the impact assessment statement should include, both levels of authority will establish the requirements of the impact assessments to be developed. Only when these frameworks are made available by the two instances will O3 Mining be in a position to initiate the Impact Studies. The Corporation will continue to deploy its participatory approach with the authorities and stakeholders in the development of the Marban Engineering Project to not only improve the project but to make it an even more responsible mining project.
The Corporation will thus continue its dialogue with the First Nations and the various stakeholders, including but not limited to, citizens, host communities, municipal, provincial, and federal representatives, etc. O3 Mining will also look at developing more partnerships with First Nations companies and entrepreneurs like the drilling joint venture between RJLL Drilling and Assibi Industries, beginning in 2023. The Corporation is convinced that the Marban Engineering Project is promising and can be positively integrated gradually on a local and regional scale, both in terms of job sustainability and the Abitibi environmental and socio-economic ecosystem.
O3 Mining is committed to maintaining the UL 2723 ECOLOGO® Certification for Mineral Exploration Companies. Continuous training of employees, enforcement of ESG procedures and constant search for innovative solutions to improve ESG performance, will be at the core of the Corporation’s ongoing exploration activities.
4,000 metres of planned drilling
Figure 2: 2023 Planned Drilling for Alpha
Other Properties
Wydee and Matachewan
The 10,300-hectare, 100% owned Wydee and Matachewan properties are located near the town of Matachewan, Ontario (60 kilometres west of Kirkland Lake and 50 kilometres south-southeast of Timmins). The properties are also adjacent to Alamos Gold’s Young Davidson Mine property, along the Cadillac Larder Lake fault zone. In 2022, the Corporation completed fieldwork on the properties consisting of field verification and sampling of historic gold occurrences, as well as a compilation of historic work. Geological interpretation and compilation work from the 2022 field season are underway to help develop drilling targets in 2023.
O3 Mining will conduct a town hall forum to discuss its outlook for 2023.
Date and Time: Wednesday, January 25th, 2023, 11:00 a.m. EST
Registration: O3 Mining Outlook 2023
Details: Participants will be able to submit questions. A recording of the webinar will be made available on o3mining.com following the webinar. If you have any technical difficulties, please email [email protected]
O3 Mining Inc., an Osisko Group company, 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, previous mine-building success, and expertise of the Osisko team as it grows towards being 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 (63,000 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/
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.
For further information: Please contact: José Vizquerra Benavides, President, CEO and Director, Toll-Free: +1 (833) 979-3516, Telephone: +1 (873) 381-2014
IBF4
94 total views, 4 views today