Home > News > O3 Mining files PEA...

O3 Mining files PEA Technical Report for Garrison Project

Jan 28, 2021

The Garrison Project of the Golden Bear Property Group is located approximately 40 km north of Kirkland Lake, 35 km east of Matheson, and 100 km east of Timmins.

Exploration conducted on the Garrison property dates back to 1935. The mining claims that make up the property are patented and as a result very little of the exploration work carried out on the property has been filed with the government and the data are not in the government assessment work files.

Predecessor companies to O3 Mining have explored the Garrison property since the 1930s. Extensive diamond drilling has been completed and minor underground development has occurred at the Garrison and Jonpol deposits.

The mineral resource for O3 Mining’s Garrison deposits has been updated since the previous estimate in 2019 due to updated geologic modelling, updated QA/QC and updated gold prices. The three deposits within the Garrison project include 903, Jonpol and Garrcon. An open pit mineral resource estimate, with an effective date of November 25, 2020, is provided in Table 1-2.

The base case cut-off grade is 0.30 g/t Au based on mill recoveries of 90.5% at 903, 95.5% at Garrcon, and 92.45% at Jonpol for non-refractory material and 56.2% for refractory material. Processing + G&A costs of C$16.90/t and a US$1400/oz Au were used, with smelter terms as detailed in the notes below.

At these cut-off grades, the total indicated mineral resource is estimated at 66.3 Mt at 0.855 g/t Au for a total of 1.8 Moz.

Tags: Northern Ontario / Press Releases / Gold / All Articles