TSXV:OIII | OTCQX:OIIIF - O3 Mining
TORONTO, Oct. 30,
2024 /CNW/ - O3 Mining Inc. (TSXV: OIII)
(OTCQX: OIIIF) ("O3 Mining" or the "Corporation")
announces that it will be completing a preliminary economic
assessment ("PEA") on the Corporation's flagship Marban
Alliance project in Val-d'Or,
Québec ("Marban Alliance"). The Corporation has engaged G
Mining Services Inc. as the lead consultant for the PEA, which will
be prepared in accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects. O3 Mining
expects that results from the PEA will be available in the fourth
quarter of 2024. These results are expected to highlight the
advancements made on Marban Alliance since the effective date of
the current Prefeasibility study (being August 24, 2022) and provide updated guidance for
use in a Feasibility Study on the Marban Alliance Project
that is expected to commence in early 2025. In addition, the
Corporation is expecting the environmental baseline studies to be
completed in the first quarter of 2025 following comprehensive
field work gathered over a period of three years. Assuming positive
results, the Corporation intends to commence Impact Studies
in second quarter of 2025.
O3 Mining's President and Chief Executive Officer, Mr. José
Vizquerra commented: "Since the publication of the Marban
Alliance prefeasibility study in 2022, our technical team has been
committed to improving and optimizing the mining project. This
includes, among others, optimizations to our mining and processing
parameters, inclusion of additional resources from resource
conversion of current pits, as well as new satellite deposits such
as Malartic H. This PEA will provide an updated picture of the
merits of developing the Marban Alliance project and provide
insights on the Feasibility Study expected to be completed in the
second half of 2025. Additionally, we have made progress on our
environmental and permitting processes, with the baseline study in
its final stage, which will allow us to initiate our Impact Studies
in parallel with the Feasibility Study. We will continue to develop
the Marban Alliance project by focusing on win-win opportunities
for our partners, host communities, and shareholders. To that end,
we are committed to developing the Marban Alliance project on a
sustainable basis for local and regional stakeholders. With this in
mind, O3 Mining is well-positioned to benefit from de-risking the
Marban Alliance project while remaining flexible on evaluating
options in the development due to the location of our project in
Val-d'Or among existing processing
facilities."
Marban Alliance Guidance
- Q4-2024: Announce Marban Alliance PEA results
- Q1-2025: Completion of environmental baseline studies
- H2-2025: Announce Marban Alliance Feasibility Study
results
- Q1-2026: Filing of Marban Alliance Impact Studies
About O3 Mining Inc.
O3 Mining Inc. 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 and expertise of a team of industry leaders as it grows
towards becoming 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 (111,000 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.
Cautionary Note Regarding Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of the applicable Canadian
securities legislation that is based on expectations, estimates,
projections, and interpretations as at the date of this news
release. Forward-looking statements including, but are not limited
to, statements with respect to: the timing of commencement and
completion and the results of studies, including the PEA,
environmental baseline studies, a feasibility study and impact
studies; continued development of the Marban Alliance project; the
Marban Alliance project being integrated positively and sustainably
on a local and regional scale; the Corporation being on the road to
production; the Corporation becoming a gold producer with several
multi-million-ounce deposits in Québec; and the ability of the
Corporation to deliver superior returns to its shareholders and
long-term benefits to its stakeholders. Any statement that involves
discussions with respect to predictions, expectations,
interpretations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "interpreted", "management's view", "anticipates" or
"does not anticipate", "plans", "budget", "scheduled", "forecasts",
"estimates", "believes" or "intends" or variations of such words
and phrases or stating that certain actions, events or results
"may" or "could", "would", "might" or "will" be taken to occur or
be achieved) are not statements of historical fact and may be
forward-looking information and are intended to identify
forward-looking information. Except for statements of historical
fact relating to the Corporation, certain information contained
herein constitutes forward-looking statements Forward-looking
information is based on estimates of management of the Corporation,
at the time it was made, involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the companies to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking information. Such
factors include, among others, risks relating to: the results of
studies; the ability of exploration activities (including drilling)
to accurately predict mineralization; errors in management's
modelling; the ability of any material to be mined in a matter that
is economic; the Corporation's ability to obtain any necessary
permits, consents or authorizations required for its planned
activities; the Corporation's ability to raise the necessary
capital or to be fully able to implement its business strategies;
and the price of gold. Although the forward-looking information
contained in this news release is based upon what management
believes, or believed at the time, to be reasonable assumptions,
the parties cannot assure shareholders and prospective purchasers
of securities that actual results will be consistent with such
forward-looking information, as there may be other factors that
cause results not to be as anticipated, estimated or intended, and
neither the Corporation nor any other person assumes responsibility
for the accuracy and completeness of any such forward-looking
information. The Corporation believes that this forward-looking
information is based on reasonable assumptions, but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in this press release
should not be unduly relied upon. The Corporation does not
undertake, and assumes no obligation, to update or revise any such
forward-looking statements or forward-looking information contained
herein to reflect new events or circumstances, except as may be
required by law. These statements speak only as of the date of this
news release.
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.