O3 Mining Provides Update on Marban Alliance's Economic Studies and Permitting Process

TSXV:OIII | OTCQX:OIIIF - O3 Mining

TORONTO, Oct. 30, 2024 /CNW/ - O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) ("O3 Mining" or the "Corporation") announces that it will be completing a preliminary economic assessment ("PEA") on the Corporation's flagship Marban Alliance project in Val-d'Or, Québec ("Marban Alliance"). The Corporation has engaged G Mining Services Inc. as the lead consultant for the PEA, which will be prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. O3 Mining expects that results from the PEA will be available in the fourth quarter of 2024. These results are expected to highlight the advancements made on Marban Alliance since the effective date of the current Prefeasibility study (being August 24, 2022) and provide updated guidance for use in a Feasibility Study on the Marban Alliance Project that is expected to commence in early 2025. In addition, the Corporation is expecting the environmental baseline studies to be completed in the first quarter of 2025 following comprehensive field work gathered over a period of three years. Assuming positive results, the Corporation intends to commence Impact Studies in second quarter of 2025.