The Alpha Property is situated in the Val-d’Or mining district within the Precambrian Canadian Shield of western Quebec. Rocks of the Val-d’Or gold district belong to the Archean Abitibi greenstone belt of the Superior Province, Quebec. The Abitibi greenstone belt consists of east-trending alternating volcanic, plutonic and sedimentary belts bounded by crustal-scale faults. The Alpha Property is located at the junction of the Abitibi and Pontiac subprovinces and covers over a 20-kilometre-long portion of the Cadillac–Larder Lake Fault Zone (“CLLF”) directly southeast of the Val-d’Or mining camp.

Two principal sub-types of orogenic gold mineralization have been identified on the Alpha Property. At the Orenada deposit, shear-hosted mineralization consists of quartz–tourmaline–albite–carbonate veins and veinlets within mafic and intermediate rocks, with a low sulphide content (<2%). Arsenopyrite is closely associated with gold mineralization. At the Bulldog deposit, mineralization is associated with broader zones of deformation and alteration, with sericitization and disseminated pyrite as the main indicators for gold mineralization hosted in felsic dykes.

In addition to the shear zone-hosted gold mineralization, intermediate to felsic intrusions can be prospective host units and exhibit different alteration minerals due to the chemical interaction between mineralizing fluids and the host rocks. This type of mineralization tends to be associated with quartz–carbonate–tourmaline veins surrounded by albite alteration halos. They are similar to the vein systems found at the Sigma-Lamaque and Goldex mines in the Val-d’Or mining camp.

Finally, gold-copper deposits of skarn and porphyry types are found within mafic volcanic and intrusive rocks proximal to the edges of the multiphased East Sullivan and Callahan plutons. Akasaba West is the main deposit of this type. Cu±Au±Mo skarn and porphyry style mineralization is dominant at both Akasaba and East Sullivan Rim and represents the more atypical examples of gold mineralization in the Val-d’Or mining camp. Bigot (2021) identified a number of gold deposits surrounding the East Sullivan stock that exhibit Cu±Au±Mo affinities with high sulphide contents and calc-silicate assemblages (Ca-amphibole, epidote, and carbonate ± magnetite). Garnets are also frequently noted, leading to the interpretation that the Akasaba and East Sullivan deposits can be potentially classified as skarn deposits and co-exist with orogenic deposits such as Orenada and Bulldog.

Since its involvement in the property, O3 Mining has carried out Induced Polarization geophysical surveys, outcrop stripping and mapping, exploration targeting by using artificial intelligence (AI) algorithms and sunk 303 diamond drill holes totalling 126,838 metres. O3 Mining completed the outcrop stripping campaign during the fall of 2020. The work focused on the Sabourin, Valdora and Simkar areas to characterize and discover new skarn mineralization systems and quartz tourmaline veins systems.

In November 2022, O3 Mining published a maiden inferred resource estimate for the Bulldog and Kappa deposits. This estimate includes approximately 50,000 metres of drilling in 116 holes, including 42,817 metres in 88 holes completed by O3 Mining from September 2019 to April 2022. Much of the estimated tonnage related to the Bulldog deposit is contained in three stacked zones within a 75-metre-wide corridor starting at surface and covering an area of 620 metres vertical by 360 metres wide. The true thickness of the Bulldog zones varies from 2 to 10 metres. The resources related to the Kappa zones are distributed in two sub-vertical shoots starting at 60 metres and 560 metres vertical, respectively, each covering an area of approximately 200 metres long by 100 metres wide. The Kappa horizon is 175 metres north of the Bulldog trend. The Bulldog resource contains 270,000 oz Au at 3.2 g/t Au, and Kappa contains 48,000 oz Au at 3.7 g/t Au.

O3 Mining has obtained many significant drill intercepts outside of the mineral deposits. A good number of those remain open and therefore warrant follow-up drilling. For instance, Sigma-type gold-bearing veins cut in a diorite plug on the Centremaque claims returned 5.8 g/t Au over 1.5 m (O3AL-20-303A) and 1.5 g/t Au over 5.7 m, including 5.3 g/t Au over 0.5 m (O2AL-21-353-W1). The Kappa deposit remains open in many directions, with intercepts of 12.0 g/t Au over 8.3 m (O3AL-21-388) and 4.4 g/t Au over 4.1 m (O3Al-21-338). The 2023 drill program will test the extensions of these intercepts.