Shallow Gold at Amadee Raises Stakes for Open-Pit Development Potential
Olympio Metals has confirmed significant near-surface gold mineralisation at its Amadee Prospect in Quebec, extending a broad mineralised zone linked to the nearby high-grade Paquin Prospect. The results highlight potential for open-pit mining in a world-class gold district.
- Eight drill holes reveal multiple near-surface gold intercepts
- Best intercept includes 0.5m at 24.5 g/t gold
- Mineralisation extends at depth and spans over 200m strike
- Structural continuity confirmed between Amadee and Paquin prospects
- Potential for open-pit mining with existing regional infrastructure
Exploration Breakthrough at Amadee
Olympio Metals Limited (ASX, OLY) has announced promising assay results from its recent drilling campaign at the Amadee Prospect, part of the Bousquet Project in Quebec, Canada. The company reported multiple near-surface gold mineralisation intercepts, including a standout 0.5 metre interval grading 24.5 grams per tonne (g/t) gold within a broader 4.5 metre zone averaging 3.29 g/t Au. These findings confirm a broad mineralised zone exceeding 40 metres in width and extending over 200 metres along strike.
Linking Amadee and Paquin, A Structural Continuity
Crucially, the drilling results suggest that Amadee lies within the same extensive gold-bearing structural corridor as the nearby Paquin Prospect, where previous drilling has revealed visible gold and grades up to 54 g/t Au. Historical Very Low Frequency Electro-Magnetic (VLF EM) survey data further supports this structural continuity, highlighting a continuous linear feature that connects the two prospects and extends westward, opening new exploration targets.
Strategic Location on the Cadillac Break
The Bousquet Project is situated on the renowned Cadillac Break, a geological structure hosting world-class gold mines with over 110 million ounces of gold produced historically. It lies within 15 kilometres of significant operating mines such as Agnico Eagle’s La Ronde and Iamgold’s Westwood, underscoring the district’s rich endowment and infrastructure advantages. Olympio’s Managing Director, Sean Delaney, emphasised the under-explored nature of the strike-extensive mineralisation and the company’s plans to expand drilling east and west to test the connection between Amadee and Paquin.
Potential for Open-Pit Development
The shallow depth and broad nature of the mineralised zones at Amadee make them potentially amenable to open-pit mining methods, which could leverage existing processing facilities in the region. This aspect enhances the project’s economic attractiveness, although further drilling and feasibility studies will be necessary to confirm mining viability.
Next Steps and Market Implications
Olympio holds an option to earn an 80% interest in the Bousquet Project from Bullion Gold Resources and is actively continuing its drilling program. The company’s methodical approach to integrating historical data with new exploration results is building a clearer picture of the project’s potential. Investors will be watching closely for subsequent assay results and resource updates that could elevate the project’s profile in a competitive gold exploration landscape.
Bottom Line?
Olympio’s expanding gold footprint at Amadee signals a compelling exploration story unfolding on a world-class gold structure.
Questions in the middle?
- How extensive is the mineralised corridor between Amadee and Paquin beyond current drill coverage?
- What are the next steps toward defining a maiden resource and assessing economic viability?
- How might regional infrastructure and permitting timelines impact project development pace?
