TSXV:OIII -
Current drilling on the
"Gold Hawk is shaping up to be a very promising potential high-grade satellite deposit for the Marban mine development project, just 2 kilometres away. The high-grade intercepts confirm the exceptional high-grade characteristic of the gold deposits along the prolific Marbenite shear corridor giving us the confidence to continue the drill program to more quickly unlock its potential and build resources there," said president and CEO
New assay results from seven drill holes drilled down plunge at the Gold Hawk zone include:
Drilling Highlights:
- 383.4 g/t Au over 2.0 metres in hole O3MA-20-008, including 1,510 g/t Au over 0.5 metres
- 1.8 g/t Au over 5.0 metres in hole O3MA-20-002
- 16.8 g/t Au over 0.5 metres in hole O3MA-20-003
A 3D-model of the Marban deposit and the Gold Hawk zone is available on the Company's website at https://o3mining.com/presentations/drill-results
These drill holes targeted extensions down plunge of the Gold Hawk zone. The zone is emplaced along the Marbenite shear, one of the main structures in the district which hosts the Marban and Orion #8 deposits as well as Wesdome's Kiena deposit. The drill holes hit the Gold Hawk zone between 390 metres and 570 metres below surface at a 50 to 100 metre spacing. There are pending results from three follow-up drill holes around O3MA-20-008. The encouraging results received so far from Gold Hawk support a decision to continue the exploration program to further explore the mineralization extensions of hole O3MA-20-008, which remain open to the west and at depth.
Table 1: Drill Hole Intercepts (only intercepts above 5 g/t Au * m are reported)
Drill Hole ID | From (m) | To (m) | Interval (m) | Au uncut | |
O3MA-20-001 | 143.5 | 145.0 | 1.5 | 4.4 | -- |
O3MA-20-002 | 489.8 | 494.8 | 5.0 | 1.8 | Gold Hawk |
O3MA-20-003 | 588.0 | 588.5 | 0.5 | 16.8 | Gold Hawk |
O3MA-20-008 | 552.8 | 554.8 | 2.0 | 383.4 | Gold Hawk |
Including | 553.8 | 554.3 | 0.5 | 1,510.0 | |
O3MA-20-008 | 558.4 | 559.5 | 1.1 | 5.3 | Gold Hawk |
NOTE: True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones.
Table 2: Drill Hole Details
Drill Hole ID | Azimuth (˚) | Dip (˚) | Length (m) | UTM E | UTM N |
O3MA-20-001 | 211 | -60 | 657 | 276422 | 5337890 |
O3MA-20-002 | 210 | -49 | 558 | 276551 | 5337820 |
O3MA-20-003 | 204 | -61 | 714 | 276874 | 5337639 |
O3MA-20-004 | 201 | -69 | 780 | 276874 | 5337639 |
O3MA-20-005 | 186 | -65 | 789 | 276874 | 5337639 |
O3MA-20-006 | 186 | -58 | 771 | 276874 | 5337639 |
O3MA-20-008 | 209 | -66 | 659 | 276522 | 5337866 |
Drill hole O3MA-20-008 intersected two mineralized intervals within the Gold Hawk zone. The first interval returned 383.4 g/t Au over 2.0 metres including 1,510 g/t Au over 0.5 metres. Mineralization is associated with visible gold and traces of pyrrhotite and chalcopyrite within quartz veinlets in basalt at the contact with a komatiite. The second interval, four metres deeper, returned 5.3 g/t Au over 1.1 metres. Mineralization is associated with quartz-carbonate veinlets within a komatiite. Drill hole O3MA-20-002 intersected 1.8 g/t Au over 5.0 metres along the same basalt-komatiite contact as O3MA-20-008. Mineralization is associated with visible gold within quartz-carbonate veinlets in a komatiite.
Drill hole O3MA-20-003 intersected 16.8 g/t Au over 0.5 metres. Mineralization is associated with talc-calcite veinlets cross-cutting komatiite. Drill hole O3MA-20-001 intersected 4.4 g/t Au over 1.5 metres. Mineralization consists of up to 1% disseminated pyrite and dismembered quartz-carbonate veinlets within a granodiorite.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr.
Quality Control and Reporting Protocols
True width determination is currently unknown but is estimated at 65-80% of the reported core length interval for the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Half-core samples are shipped to Agat laboratory in
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