O3 Mining wins 2024 PDAC Sustainable Development Award

O3 Mining Team receiving the 2024 PDAC Award for Sustainable Development. Credit: O3 Mining

Québec-focused gold junior O3 Mining (TSXV: OIII) has been named winner of the 2024 PDAC Award for Sustainable Development, considered one of the most prestigious recognitions in the Canadian exploration sector.

This award is given by the Prospectors & Developers Association of Canada (PDAC) for “demonstrating an exceptional commitment to sustainable development in the mining industry”.

It highlights the efforts and achievements of companies that go beyond legal requirements to integrate sustainable development practices into their operations, thereby contributing to the improvement of local communities’ lives, the protection of the environment, and the advancement of the industry.

The O3 Mining team, led by chief executive José Vizquerra, received the award at PDAC’s annual conference held in Toronto this week.

“We continuously strive to follow sustainable development as a core value at O3 Mining and firmly believe that the next generation of mining development will have a key focus on sustainability, mutually beneficial partnerships, and leveraging existing facilities to eliminate the unnecessary construction of new infrastructure,” Vizquerra said.

As the recipient of the PDAC 2024 award, the corporation is committed to sharing its knowledge, practices, and innovations with the rest of the industry to encourage a broader adoption of sustainable development principles, O3 stated.

The company currently has a portfolio of gold exploration assets totalling 750 square kilometres, headlined by the flagship Marban Alliance property located in the western part of Quebec province.

NewOrigin divestment

Meanwhile, O3 announced earlier that it has sold all of its shareholdings in junior explorer NewOrigin Gold (TSXV: NEWO), which has various gold projects in the Canadian Shield.

In total, 6.6 million shares of NewOrigin were sold, representing approximately 11.6% of those outstanding, for total proceeds of C$74,910.

NewOrigin’s stock traded 33.3% higher at C$0.02 each by market close Wednesday, capitalizing the company at C$860,000.

O3 Mining was flat at C$1.36 apiece, for a market capitalization of C$118.7 million.