What were the circumstances surrounding the creation of O3 Mining?

O3 Mining is the third iteration of the Osisko Mining Group. It was created with the intention of adding significant value to the Garrison and Marban assets in Ontario and Quebec. In July of 2019, O3 Mining completed a reverse takeover transaction with Chantrell Ventures. The transaction was finalized with the company being renamed to O3 Mining, and Osisko transferring the Marban and the Garrison projects, and other exploration properties to O3. Additionally, a portfolio of selected securities were also transferred by Osisko, which ended with just over 53% of O3 Mining’s outstanding shares. Since its inception in 2019, O3 Mining has raised over C$28 million to advance its exploration projects and acquired properties for a total value of roughly C$50 million to consolidate our portfolio in Quebec – these initiatives allow us to move closer to our goal of becoming a multi-million ounce, high-growth company, with over 61,000 ha of prospective ground.

O3 Mining has a significant land package in Quebec and Ontario. Can you provide an overview of the company’s portfolio of assets?

O3 Mining has a unique portfolio of assets in Quebec and Ontario, spanning more than 460,000 ha. Our current focus is in the Val D’Or camp, where at least four world-class deposits have been discovered  (Canadian Malartic, La Ronde, Sigma-Lamaque and Busquet) and 30 million oz of gold has been produced. We currently own approximately 61,000 ha covering an extraordinary land position along the prolific Larder Lake-Cadillac fault. This was built up after the acquisition of properties from Alexandria Minerals, Chalice Gold Mines, and Harricana River Mining. 

Additionally, we own the Garrison project in Northern Ontario, located in the Larder Lake Mining Division, as well as the past-producing Buffonta mine and Gold Pike mine properties.

O3 Mining‘s properties hold 3.6  million oz of measured and indicated resources at 1.26 g/mt Au, and 1.5 million oz of inferred resources at 2.14 g/mt Au, that positions us as a Tier1 company in the junior mining space.

What distinguishes the Osisko exploration model?

The Osisko approach to exploration has always distinguished itself from its competitors, through the intensive drilling campaigns they performed. We believe in building mines not just finding resources. O3 Mining embraces the same discipline by taking a systematic approach to our exploration and drilling, and our advantage is that we already have four areas where a resource exists.

The strategy in Val D’Or is to minimize the risk and maximize the upside. O3 Mining will focus on expanding areas where resources exist but our exploration style will reveal the real size of the different projects.

Our team has come up with an aggressive exploration program for our Val D’Or properties to confirm, upgrade and increase the current resources with a 50,000m drill program.

Currently, our ongoing drilling program is focused on the Central and East Cadillac properties – Alpha, Akasaba and East Cadillac projects. During the first months of our drilling campaign in Alpha, new drill intercepts confirmed the extension of the Bulldog mineralized structure located 1,500m to the east of the original discovery. More importantly, this demonstrated the potential for gold-bearing structures in the Pontiac sediments. For our winter campaign, two additional drill rigs will be on the recently discovered Bulldog zone, which has returned important gold values including 10.87 g/mt Au over 4.5m. These excellent results will help focus our expansion drilling to the west of the Bulldog discovery. Additionally, we will be exploring the high-grade component of the Marban project to prove the continuity of this high-grade zone.

Why do you believe Québec is the best mining jurisdiction in the world?

We believe that the capabilities for exploration are exceptional in Quebec for three main reasons. Through its long history in mining,  there are a vast amount of talented professionals in the region and the Quebec community appreciates the value of mining and understands the benefit that it can bring. Also, attaining financing is easier compared to other jurisdictions, with flow-through shares schemes that boost exploration activities in the province. Finally, the regulatory environment is favourable as the rules are clear and predictable to obtain the social license to operate.