O3 Mining mobilizes second drill as part of 150,000 metre drill program in Val D’Or, Quebec

O3 Mining Inc (CVE:OIII) (OTCMKTS:OQMGF) revealed Monday that crews are being mobilized for the resumption of drilling on its East Cadillac property situated in Val D’Or, Quebec.

In a statement, the Candian mine development company said this is the second rig mobilized following the announcement of an expanded drill program from 50,000 to 150,000 metres.

The first drill rig is currently on the Alpha property targeting the Orenada #4 zone at depth. The second drill rig will focus on the North Contact on the East Cadillac property, said the company.

READ: O3 Mining triples size of drilling program in Quebec to 150,000 metres

The North Contact zone is located along the northern splay of the Cadillac Larder-Lake Fault (CLLF). The company said that the northern splay of the CLLF, traced over 6 kilometres within the property, has been poorly tested and offers “significant exploration potential.”

In January, three holes were drilled to follow up on the historical intercept of 1.1 grams per tonne (g/t) of gold over 23.5 metres including 6.86 g/t gold over 2.0 metres. These three holes were drilled 100 metres apart, testing lateral and depth extensions of the historical hole. The company explained that the North Contact zone was recognized in all three drill holes with positive results, and thus remains open in all directions, and is the focus of this drilling campaign.

“Our recent financing allows us to be aggressive in our exploration program as we tripled our drilling capacity from 50,000 to 150,000 metres at our Val D’Or properties,” said O3 Mining CEO Jose Vizquerra said in a statement.

“We remain focused on strategically investing in our drilling capacities at our properties as they reach different stages of development, resource development and advanced exploration,” he added.

The last campaign at North Contact included best intercepts at 3.1 g/t gold over 7.0 metres including 4.6 g/t gold over 2.9 metres and including 5.3 g/t gold over 1.5 metres, in drill hole O3EC-20-007.

O3 Mining, which is part of the Osisko Group of companies, is an emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Québec and Ontario – with a goal of becoming a multimillion ounce, high-growth company.

The group is well-capitalized and holds 100% interest in a number of properties in Québec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val D’Or and over 50 kilometres of strike length of the Cadillac-Larder Lake Faut. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.

Contact the author Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive

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