Project Overview
The Alpha project is located in the southeastern Abitibi Greenstone Belt along the Cadillac-Larder Lake Fault zone (“CLLFZ”) and is wholly owned and operated by O3 Mining Inc. (“O3”). The CLLFZ is one of the most important structural controls on the gold mineralization in the Abitibi Greenstone Belt, which has produced 100 million ounces of gold since the early 1900s with current producing mines like Canadian Malartic (operated by Agnico Eagle) and Lamaque (operated by Eldorado Gold) near Alpha. Alpha has been explored by various operators since the early 1930’s with more than 2,400 drill holes completed since.
Exploration targets at the Alpha project are Bulldog, Orenada 2 & 4, and Omega, of which Orenada and Bulldog currently have an underlying resource. During 2022 a large-scale drill program was conducted at Alpha totaling 22,569 meters. This program is still ongoing through 2023 with 4,000 meters of expected drilling to test near surface targets in the vicinity of the Akasaba deposit, located adjacent to Agnico Eagle’s Akasaba West mine.
The royalties held by Gold Royalty on the Alpha project further evidence Gold Royalty’s ongoing strategy to target royalty interests within the Abitibi Greenstone Belt given its rich history of successful mining operations.