O3 Mining Begins Exploration and Plans To Continue With Two Drill Rigs
TORONTO, May 13, 2020 (GLOBE NEWSWIRE) — O3 Mining Inc. (TSX.V:OIII) (“O3 Mining” or the “Corporation”) is pleased to announce it will resume exploration activities on it’s Val D’Or properties following an announcement from the Government of Quebec, which eases restrictions previously in place due to COVID-19.
Consistent with past practice, the Company’s priority in this resumption will be the health and safety of its employees and contractors, their families, and communities in which we operate. The company is applying the recommendations that the National Institute of Public Health of Quebec (INSPQ) and the CNESST have published for preventive measures as well as a guide to sanitary standards for the mining sector. Personnel will be subject to heightened health and safety standards in accordance with precautions put in place by the Government of Quebec and the Corporation. Teleworking will continue for all staff and management not required at site. The Val D’Or office has the full suite of safety protocols in place, including active monitoring to ensure that all the work is performed respecting physical distancing protocols and the use of personal protective equipment. Additionally, the facilities have been thoroughly disinfected, with additional hygiene and sanitation stations and controls in place. Two drill rigs will be mobilized after spring break up in June to continue the planned 50,000 metres drilling program. One drill rig will be on the Alpha property focused on Bulldog and Orenada Zone 4 and the second will be on the East Cadillac property targeting the North Contact zone.O3 Mining President and CEO Jose Vizquerra commented: “The health and safety of our employees and contractors, their families, and the entire Val D’Or community is our main priority. We have been diligent in temporarily closing, deep cleaning and establishing health and safety measures to ensure the safe and easy transition of our personnel back to the workplace. With the safety protocols in place, we are confident that we can adapt our business and continue to provide a safe and healthy workplace and create long-term value for our shareholders as we resume our drilling program”
About O3 Mining Inc.O3 Mining, which forms part of the Osisko Group of companies, is a mine development and emerging consolidator of exploration properties in prospective gold camps in Canada – focused on projects in Québec and Ontario – with a goal of becoming a multi-million ounce, high-growth company.O3 Mining is well-capitalized and holds a 100% interest in a number of properties in Québec (435,000 hectares) and Ontario (25,000 hectares). O3 Mining controls 61,000 hectares in Val D’Or and over 50 kilometres of strike length of the Cadillac-Larder Lake Faut. O3 Mining also has a portfolio of assets in the James Bay and Chibougamau regions of Québec.Cautionary Note Regarding Forward-Looking InformationThis news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the transaction; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the restart of operations; further steps that might be taken to mitigate the spread of COVID-19; the impact of COVID-19 related disruptions in relation to the Corporation’s business operations including upon its employees, suppliers, facilities and other stakeholders; uncertainties and risk that have arisen and may arise in relation to travel, and other financial market and social impacts from COVID-19 and responses to COVID 19. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Corporation nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Corporation does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.For further information on O3 Mining, please contact:
José Vizquerra Benavides
President, CEO and Director
Telephone: (416) 363-8653