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O3 Mining sells two properties to Alamos

The properties are located within a 10 km distance from Alamos' Young-Davidson mine (pictured).

The properties are located within a 10 km distance from Alamos' Young-Davidson mine (pictured).

12th July 2024

By: Creamer Media Reporter

     

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Gold explorer and developer O3 Mining has sold its Matachewan and Wydee properties, in Ontario, to Alamos Gold for C$3.5-million in cash and a 1% net smelter returns royalty on all metal production.

The properties are located within 10 km from Alamos’ Young-Davidson mine.

O3 president and CEO Jose Vizquerra said that the sale aligned with the company’s focus on developing its flagship Marban Alliance project.

“This transaction allows us to reallocate resources and advance Marban Alliance, which holds significant potential for growth and value creation for our shareholders.

“We are pleased to work with Alamos Gold on this transaction and believe that its acquisition of Wydee and Matachewan will fit well into its portfolio,” said Vizquerra.

O3 acquired the Matachewan and Wydee properties as part of its acquisition of Alexandria Minerals in 2019.

Edited by Creamer Media Reporter

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