I want to personally express my gratitude for your continued support for O3 Mining over the past year.
We started this year with incredible momentum with the sale of the Garrison Project and the beginning of the strategic Partnership with Moneta Gold, which continued to propel O3 Mining to new heights with the progression of the infill drilling program at Marban Alliance and Bulldog (Alpha), the launch of our first ESG Report, receiving UL 2723 ECOLOGO® Certification For Mineral Exploration and the implementation of procedures and best practices across all pillars of ESG.
to Moneta Gold
At the beginning of the year,
We implemented our large-scale drilling program to achieve our mission of being a premier gold exploration and mine development company with the following goals:
1. Convert
We performed an infill drilling program at the Marban Alliance Project focused on converting the in-pits inferred mineral resources to the indicated category as we undertake the Prefeasibility study.
2. Expand
We continued with step-out drilling and testing new areas within five kilometres of the proposed mine plan at our Marban Alliance Project to identify new mineral resources. On our Alpha Project , we initiated our infill drilling program at Bulldog and continued to expand the mineral resource footprint.
3. Discover
We set out to discover new mineralized zones such as the Kappa Zone at our Alpha Project in addition to testing its Simkar and Omega sectors with targets generated by our exploration team and verified using artificial intelligence (“AI”) by Mira Geoscience Ltd, and at “Camflo Extension” on the Marban Alliance Project.
10+ Conferences
We had the pleasure of attending several conferences including:
- BMO Global Metals and Mining,
- CIBC Virtual Mine Tour,
- Precious Metals Summit and
- Deustche Goldmesse.
4 Site Visits
Since our inception,
Our team has continued to become bigger and stronger with dedication and determination guiding us to achieve our vision. This year we had the pleasure of welcoming Mélissa Desrochers to our Board of Directors, and Jean-Félix Lepage as Director of Operations.
Highlights
Financing
C$41.0M Cash & Equivalents
Our company continues to be well financed with over C$40.0M in cash and equivalents enabling us to rapidly advance our projects.
C$35.0M bought deal private placement
Strategic Portfolio Management
We undertook strategic transactions to focus our on our projects located in Val-d’Or, adding where we saw opportunity and divesting to monetize.
- C$54.6M Sale of Garrison Project to Moneta Gold
- Sale of Kinebik to NewOrigin Gold
Sustainable Development
The responsible development of our projects has remained at the core of our strategy, and we have continued to build the capacity of our team on sustainability issues. In addition to the fieldwork we have been conducting for our environmental baseline study at Marban Alliance it has also been a year of many sustainable development milestones including:
1. Launching O3 Mining’s inaugural ESG Report
2. Obtaining UL 2723 ECOLOGO® Certification for Mineral Exploration
3. Hosting our 1st citizen public information meeting
We have contributed to local and national organizations supporting education and health efforts including: La Fondation Brusseau-Dargis, Young Mining Professionals, La Maison de la Famille de Val-d’Or, Not Myself Today.
Exploration
We have drilled +100,000 metres to date
Marban Alliance
Our exploration team has done an excellent job in expanding both open pit and underground gold mineralization which has the potential to increase the size of the next resource estimate.
- In-pits Infill Drilling Intersected Multiple High-Grade Intervals in the Walls of the Historical Stopes
- O3 Mining Expands Marban Alliance Underground Mineralization
Alpha
We’ve expanded the gold mineralization on its Bulldog Deposit providing us with the confidence in the robustness of the deposit in terms of grade, thickness, and continuity.
- O3 Mining Expands Mineralization at Alpha on its Bulldog Deposit and Kappa Zone
2022
Camflo Extension Rediscovery
We are very excited about the rediscovery of the historic Camflo deposit. Drilling below 1,000 metres is ongoing and we are confident the results will confirm underground potential.
We at O3 Mining, firmly believe in creating meaningful values for all our shareholders and stakeholders.
I would like to personally thank you for your trust and continuing loyalty to our company. 2022 will carry the momentum with seven rigs operating on our Marban Alliance and Alpha projects, and the Pre-Feasibility Study on Marban Alliance is set to be completed by the end of the year.
It is in this spirit of the holidays we extend our warmest greetings and best wishes for the New Year. We accomplished much in the last year, and we are excited for what is to come in 2022. Wishing you and your family all the happiness this holiday season.
Sincerely,
Jose Vizquerra,
President and CEO of O3 Mining