PR Newswire
TORONTO, June 7, 2022
TSXV: OIII | OTCQX: OIIIF - O3 Mining
TORONTO, June 7, 2022 /PRNewswire/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to provide a progress update on the mining, metallurgical, geomechanical, geotechnical, environmental and community engagement work components of the Pre-Feasibility Study ("PFS") for the Marban Engineering Project. O3 Mining remains committed to completing the study on schedule in Q3 2022.
The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine (owned equally by Agnico Eagle Mines Limited and Yamana Gold Inc.). Activity at Marban in 2022 has been focused on Marban Engineering and working towards completion of the PFS and future economic studies.
Pits | Leach | Soluble and | Net Recovery |
Marban and Kierens | 95.4% | 0.5% | 94.9% |
Norlartic | (12.084 * Au | 0.5% | Average of 91.9% |
Note (1): Final recoveries will be confirmed once the final mine plan is completed |
O3 Mining has advanced environmental baseline studies as stated in the 2021 ESG Report (See Press Release April 4, 2022), as well as, initiated dialogue with First Nations communities, government representatives from all three levels: municipal, provincial and federal, host communities around the project and other relevant stakeholders. O3 remains committed to the responsible development of its projects by incorporating a holistic sustainability approach to generate value for all stakeholders and to handle environmental concerns.
Additionally, O3 Mining has taken supplementary steps towards the social acceptability of the project. The company intends to implement a participatory approach and met with the citizens located in the project's proximity to obtain their feedback to determine the most suitable and effective mechanism to exchange through the continuation of discussions (See Press Release May 25, 2022).
The Corporation will continue to advance the Marban Engineering project towards production by completing the PFS by Q3 2022 as planned. O3 Mining aims to become a leading gold producer and put the Marban project into production by 2026. In 2022, 18,000 metres have been drilled on Marban Engineering, with an additional 40,000 metres planned until the end of the year. Drilling will be focused on infill and expansion drilling, as well as exploration drilling in the Marban Fold area.
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sébastien Vigneau, P. Geo (OGQ #993), Principal Geologist of the Corporation, Mr. Rob Raponi, P. Eng, Process and Infrastructure of Ausenco, and Mr. Carl Michaud. Messrs Raponi, Michaud and Vigneau are "Qualified Persons" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
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 (66,000 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.
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SOURCE O3 Mining Inc.