Home > News > O3 Mining Expands presence...

O3 Mining Expands presence in Casa Berardi Trend with New Acquisition

Oct 31, 2024


O3 Mining Inc. has strengthened its foothold in the Casa Berardi trend, one of Québec’s most prospective gold regions, with the recent acquisition of the Lac Esther Property. This strategic acquisition, purchased from Midland Exploration, is located near O3’s Kinebik Project, adding an expansive 16,094 hectares to the company’s existing land holdings in the region.

 

“We are pleased to further consolidate our presence on the Casa Berardi trend through the acquisition of Midland’s Lac Esther Property,” said José Vizquerra, O3 Mining’s President and CEO. “This acquisition is a natural fit with our current property holdings at Kinebik and will enable us to conduct additional exploration drilling in the Casa Berardi corridor. It aligns with our core exploration strategy and our commitment to advancing major geologic faults in Québec. Our ongoing success along the Cadillac Break provides us with a solid foundation to continue this approach along the Casa Berardi trend.”

 

The Lac Esther Acquisition: Unlocking Potential in Québec’s North

 

The Lac Esther Property, nestled within a rich gold-bearing region northeast of Lebel-sur-Quévillon, Québec, has been a target of historic exploration efforts. This new acquisition by O3 Mining enhances its position within a corridor of immense geological significance, containing major deformation zones and key mineral-rich formations.

 

Under the terms of the acquisition, O3 Mining secured 100% ownership of the Lac Esther Property for C$75,000. As part of the deal, Midland Exploration retained a 2% net smelter return royalty (NSR) on all ore mined from Lac Esther. O3 Mining, however, holds the right to buy back 50% of this NSR for C$500,000 and has secured a right of first refusal should Midland ever choose to sell. These arrangements underscore O3’s commitment to building an economically sustainable and forward-looking development strategy within the Casa Berardi trend.

 

A Rich Landscape with Historical High-Grade Intercepts

 

Geological data collected from the area over decades highlights Lac Esther’s potential. Historical intercepts and assays hint at rich deposits, with samples yielding grades such as 81.4 g/t Au, 5.46 g/t Au over 0.34 meters, and 2.35 g/t Au over 0.65 meters. Notably, the Ratte zone, adjacent to Lac Esther, recorded assays as high as 61.0 g/t Au, and a low magnetic anomaly suggests that this zone’s mineral-rich veins may extend into Lac Esther.

 

Gold at Lac Esther is primarily hosted in quartz-carbonate veins associated with deformation corridors, presenting O3 Mining with clear targets. To further refine these targets, the company plans a drone-based magnetic survey in Q1-2025 to identify key geological features that could guide future drilling campaigns and bolster the understanding of these promising structures.

 

Consolidating the Kinebik Project: A Long-Term Vision for the Casa Berardi Trend

 

With the Lac Esther acquisition, O3 Mining continues to solidify its Kinebik Project, a massive 47,510-hectare property along the Casa Berardi trend. The project covers over 40 kilometers of strike length across this prolific greenstone belt, which hosts renowned deposits such as the Casa Berardi deposit (over 5 million ounces of gold), the Douay deposit (3 million ounces of gold), and the Vezza deposit. Key mineralized zones on Kinebik share striking similarities with these major deposits, lending substantial credibility to its exploration potential.

 

The Kinebik Project includes the Cameron Lake deformation zone, part of the Casa Berardi break corridor. This corridor is also home to Discovery, Flordin, and Cartwright deposits, which have collectively produced significant gold quantities and offer structural insights that guide O3’s exploration strategy.

 

Vision for Future Exploration and Discovery Potential

 

O3 Mining’s focus on Québec’s Casa Berardi trend underscores its intent to explore, develop, and unlock value across one of Canada’s most geologically diverse and mineral-rich regions. Each acquisition—most recently Lac Esther—enhances the corporation’s ability to target high-potential gold zones, aligning well with its broader mission to advance substantial geologic structures throughout Québec.

 

With the resources now assembled and an ambitious exploration roadmap in place, O3 Mining is well-positioned to deliver on its mission of transforming the Casa Berardi trend into a cornerstone of gold production in Canada. As exploration progresses, the company’s efforts along these fault lines are poised to set a new benchmark in gold discovery for Québec’s north.

 

About O3 Mining

 

O3 Mining Inc. is an exploration and mine development company focused on advancing high-quality gold projects in Québec, particularly the Casa Berardi trend and the renowned Cadillac Break.



Tags: Quebec / Deals & Financial / Gold / All Articles