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Be the first with the news that moves the market- O3 Mining (TSXV:OIII) have drill results from it’s Alpha gold property
- Based in Val D’Or, Quebec, Alpha includes the claims under option from Golden Valley Mines that O3 has an option to acquire 80 per cent of
- Intersections of 12.4 g/t gold over 1.5 metres were made on the site
- Exploration company has six sites in Quebec and another two in Ontario
- O3 Mining (OIII) is holding steady at C$1.58 per share with a market cap of $75 million
O3 Mining Inc (TSXV:OIII) has announced the latest results from its drilling program on the Alpha property in Quebec.
These results include drilling conducted on the Golden Valley Mines property, that O3 Mining has an option to purchase 80 per cent of.
One drill hole at the site intersected two mineralisation instances.
Results from the first section of the drilling included a 13.4 g/t gold intersection over 1.5 metres at the top of the drill hole.
Another intersection returned 6.6 g/t gold over 2 metres, in the same zone of mineralization on the site, the Pontiac East Zone.
That intersection was made at 550 metres deep, approximately 300 metres down from the other intersection.
Another drill hole on Pontiac East intersected 2.5 g/t over 5.5 metres.
The assay results support the conclusion that the Pontiac East Zone appears to contain a large mineralization vein that extends some 2 km in strike length.
The company has had to temporarily suspend the drilling program in the wake of COVID-19 interruptions.
CEO and President of O3 Mining, Jose Vizquerra Benavides, said that while the Government of Quebec has issued the temporary closing of non-essential businesses, O3 Mining has adapted to the situation.
“Our exploration team is working remotely on advancing the project and generating new targets for once the suspension is lifted.
“We continue to receive results from the lab and will publish those as they become available,” he added.
O3 have a bevy of Canadian gold properties, with six in Quebec and two in Ontario.
O3 Mining (OIII) is holding steady at C$1.58 per share, as of 12:27 pm EST.
