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O3 Mining Provides Progress Update on Pre-Feasibility Study for Marban Engineering

Jun 7, 2022

O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation) is pleased to provide a progress update on the mining, metallurgical, geomechanical, geotechnical, environmental and community engagement work components of the Pre-Feasibility Study ("PFS") for the Marban Engineering Project. O3 Mining remains committed to completing the study on schedule in Q3 2022.

The Marban project is in the heart of the Malartic gold mining camp. It covers 7,525 hectares and is located 12 kilometres from the Canadian Malartic Mine (owned equally by Agnico Eagle Mines Limited and Yamana Gold Inc.). Activity at Marban in 2022 has been focused on Marban Engineering and working towards completion of the PFS and future economic studies.

PFS Progress Highlights

  • A trade-off study has been completed on mine/mill throughput, indicating a 50% increase from the Preliminary Economic Assessment ("PEA") estimate of 4 Mt per year to 6 Mt per year to mill
  • The geotechnical and geomechanical testing has been completed
  • The mineral processing and metallurgical testing program has been completed
  • Environmental baseline studies are ongoing and dialogue has been initiated with First Nations communities, host communities around the project and government representatives from all levels of government


  • Improved mine sequencing to limit peak mining rate increase to 15% with the increase of 50% in mill feed throughput and reduced peak stockpile under 2Mt vs 12Mt at PEA
  • Improvements made to the productivity with; increased truck size to 150 tonnes from 100 tonnes in PEA and increased bench size from 5 metres to 10 metres
  • The Mineral Resource Estimate ("MRE") dated March 1, 2022 (See Press Release March 1, 2022) will be used as the resource base for the PFS together with the completed and reported metallurgical testwork results
  • Additional work to be completed includes:
    • Mine sequencing and stockpile design
    • Detailed mine capital cost and operational cost

Geotechnical, Geomechanical, and Hydrogeological Programs

  • Geotechnical and geomechanical testing has been completed in Q2; interpretation ongoing
  • Hydrogeological modelling has been completed

Mineral Processing and Tailings Management

  • The metallurgical testing program has been completed
  • Trade-off study on CAPEX to recovery for grinding and leach circuit design has been completed. A reduction of target grind size from 100 microns to 85 microns and optimized leach-CIP circuit will be integrated in the mill design. Combined with improved results from testwork program and the inclusion of solution losses the recovery for the PFS is: 94.9% for Marban and 91.9% for Norlartic.
  • The tailings management trade-off study has been completed, with an improved conventional tailings scenario selected. This scenario combines a smaller tailing management facility and in-pit tailings deposition enabling a project footprint reduction.

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