O3 Mining Intersects 10.4 g/t Au Over 3.0 Metres, 400 Metres West Of Simkar Deposit At Alpha
O
3 Mining Inc. (TSXV: OIII) (O3 Mining or the Corporation) is pleased to provide initial drilling results from the Simkar zone, located 400 metres west of the historic deposit, within the Sector 3 of its Alpha property in Val-d'Or, Quebec, as part of a fully-funded 150,000 metre drilling program.
The Simkar deposit hosts 43,000 oz Au at 5.52 g/t in Measured and Indicated resources and 20,000 oz Au at 6.36 g/t in Inferred category.
O3 Mining's 2020-2021 drilling program includes 100,000 metres for the Alpha property, which hosts multiple mineralized systems over an approximate 20 kilometres strike length. Current drilling is focused on exploring extensions of the Simkar (historic production of 54,500 oz Au at 5.99 g/t) and El Sol zones in Sector 3 and the Valdora, Sabourin and Jolin zones in Sector 2 as well as testing the extensions at depth of the Orenada mineralized system in Sector 1 (see Figure 1). These are exploration targets generated by our exploration team, tested by a channel sampling program and verified using artificial intelligence (AI) (See Press Release December 02nd, 2020).
At Simkar, we are successfully executing our systematic approach to exploration based on geological analysis and AI, channel sampling and field work, and drilling. It is always exciting when the third step, drilling, achieves what it sets out to do. Today's results show we are successfully extending the mineralized zones at Simkar and other areas in Sector 3 of Alpha beyond the known resources. We are also identifying new areas with the potential of increasing the mineral resources in this Sector. With a lot more drilling to come at Alpha initial results leave us confident of significantly growing the resources of the project, said President and CEO Jose Vizquerra.
New assay results from five holes drilled in the western extensions at the Simkar zone include
Drilling Highlights
10.4 g/t Au over 3.0 metres in hole O3AL-20-310
14.0 g/t Au over 0.8 metres in hole O3AL-20-311
32.4 g/t Au over 0.5 metres in hole O3AL-20-312
Hole O3AL-20-310 cut mineralization at the bedrock interface, 400 meters west of the historical Simkar Zone A (see Figure 2). This discovery is in an area with no historical drilling which opens the potential for the definition of a new ore shoot along the historical Simkar Zone A structure. Hole O3AL-20-311 intersected the extension of the Simkar Zone C, 350 metres to the west, and hole O3AL-20-312 intersected a new zone between zones A and C, some 350 meters to the west.
The drilling program at Simkar is targeting down-plunge extensions of the Simkar A-B-C zones (raking at 30 degrees to the west) as well as potential new ore shoots and stacked zones within the prospective Anamaque sill where gold mineralization is associated with quartz-tourmaline-pyrite vein systems typical of the Val d'Or district. Initial results show that the gold-bearing veins expand well beyond the historical Simkar resource, including potential continuity up to the El Sol and Paramaque zones, which if proven, would represent a 2,000 x 500 metre veins field. The encouraging results received so far support a decision to continue the exploration program at Simkar to further explore for mineralized extensions of these intercepts, which remain fully open to the west and at depth. Assays are pending for two drill holes drilled 100 m further west to follow up on the high-grade intercepts reported here. More holes are planned to expand the mineralized zone to the west into El Sol and Paramaque areas.
✔️ O3 Mining Intersects 10.4 g/t Au Over 3.0 Metres, 400 Metres West Of Simkar Deposit At Alpha
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