O3 Mining has significantly expanded its current drill program in Val-d’Or, Quebec, to 150,000 meters (m), including work on its Malartic, Alpha and East Cadillac properties. O3 Mining has drilled approximately 26,000 m as part of a 50,000-m drill program originally announced in September 2019.
Exploration success in the initial campaign and a recently completed C$35 million financing have provided the company with the confidence to triple the drilling program. The first drill was mobilized in early June, and more drills will continue to be mobilized in the near term.
The exploration budget for the expanded drill program is C$24 million. Drilling will continue year-round, with three to five drill rigs expected this summer.
O3 Mining President and CEO Jose Vizquerra said, “We are very pleased to restart our drilling activities in Val-d’Or. Our recent financing will allow us to triple our exploration program for our Val-d’Or properties and add value for our shareholders. We remain vigilant of the current Covid situation and are continuously following all government protocols to ensure the safety of our employees and community.”