Olympio Metals Hits Visible Gold in First Hole; Assays Due Mid-July

Early Signs of High-Grade Gold

Olympio Metals Limited (ASX – OLY) has kicked off its maiden drilling program at the Bousquet Gold Project in Quebec with a significant early milestone – visible gold has been identified in the very first drillhole at the Paquin prospect. The discovery of visible gold grains within a smoky quartz vein, embedded in a 9-meter zone of quartz veining and sulphide mineralisation, offers a tangible glimpse of the project's potential.

The drillhole, designated BO-25-27, intersected this mineralised zone between 183 and 192 meters depth. The quartz veins are associated with a strong carbonate-chlorite alteration and contain 5-7% sulphides including arsenopyrite, pyrite, and pyrrhotite. This geological setting aligns with the characteristics of known high-grade gold deposits along the Cadillac Break, a world-renowned regional structure that hosts over 110 million ounces of gold.

Context and Significance

The Bousquet Project sits strategically on the Cadillac Break, a prolific gold corridor that has historically yielded multi-million-ounce deposits. The Paquin prospect itself has a history of high-grade intercepts, including previous drilling reporting 9 meters at 16.96 grams per tonne gold. Olympio’s Managing Director, Sean Delaney, highlighted the importance of the visible gold find as an encouraging start that extends known mineralisation westward and confirms the project's exploration upside.

While visual identification of gold is an exciting indicator, it is important to note that such observations are not a substitute for laboratory assays, which provide the definitive measure of grade and economic viability. Olympio expects assay results from the BO-25-27 hole by mid-July, which will provide critical data to validate the visual findings and guide further exploration.

Ongoing Exploration and Next Steps

Drilling continues at Paquin with three additional holes planned to test the western extension of the mineralised zone. The initial drillhole has been logged down to 286 meters, with the full hole depth at 350 meters. Logging has revealed multiple zones of quartz veining and sulphide alteration extending beyond the visible gold intercept, suggesting a potentially extensive mineralised system.

Olympio is also integrating historical exploration data, including over 200 drill holes spanning several decades, to refine targeting and resource modelling. The company plans further geophysical surveys and structural analysis to identify new drill targets within the broader Bousquet Project area.

A Project with Proven Potential

The Bousquet Gold Project benefits from excellent infrastructure and year-round drilling access, factors that enhance its attractiveness for ongoing exploration. The presence of multiple high-grade prospects within the project area, combined with its location on a world-class gold structure, positions Olympio Metals well to advance towards defining a significant gold resource.

Investors and analysts will be watching closely for the assay results due next month, which will provide the first quantitative measure of the gold grades intersected and help shape the next phase of exploration and development.