7,083m Drilled: Olympio Reports Strong Gold Intercepts at Bousquet Project
Olympio Metals has completed a substantial diamond drilling program at its Bousquet Project in Quebec, revealing promising high-grade gold intersections at the Paquin Prospect and highlighting significant down dip potential along the Cadillac Break.
- 7,083 metres drilled across 32 diamond holes at Bousquet Project
- High-grade gold intersections up to 54.20 g/t Au reported at Paquin Prospect
- Structural continuity indicated between Paquin and Amadee prospects over 1.2km
- Fifteen drill holes remain to be logged and assayed with results pending
- Olympio holds option to acquire 80% interest with ongoing exploration investment
Expanded Drilling Program Delivers Encouraging Results
Olympio Metals Limited (ASX – OLY) has announced the completion of its maiden diamond drilling campaign at the Bousquet Project in Quebec, Canada, with a total of 7,083 metres drilled across 32 holes. The program, initially planned for 2,500 metres, was significantly expanded to test multiple targets along a 3-kilometre strike of the renowned Cadillac Break, a geological structure known for hosting world-class gold deposits.
Recent assay results from four drill holes at the Paquin Prospect have revealed notable high-grade gold intersections, including 4.9 metres at 2.16 grams per tonne (g/t) gold, 2.6 metres at 3.13 g/t, and 1.0 metre at 6.33 g/t. These findings build on earlier impressive intercepts such as 5.4 metres at 7.60 g/t and a standout 1.5 metres at 54.20 g/t, underscoring the prospect’s robust mineralisation potential.
Structural Continuity and Down Dip Potential
The drilling has provided critical structural insights, demonstrating significant down dip potential extending over 200 metres between key holes. Moreover, geophysical analysis using historical Very Low Frequency Electromagnetic (VLF EM) data supports the continuity of mineralised structures between the Paquin and Amadee prospects over a 1.2-kilometre strike length. This continuity suggests a larger mineralised system that remains open both along strike and at depth, offering promising targets for future exploration.
Olympio’s Managing Director, Sean Delaney, expressed confidence in the project’s upside potential, highlighting the unexplored northern areas and the ongoing work to generate new drill targets. The company’s strategic approach aims to build on the current results and expand the resource footprint within this prolific gold district.
Ongoing Work and Strategic Positioning
Fifteen drill holes from the recent campaign remain to be logged and sampled, with results expected over the coming months. The Olympio geology team is actively processing core samples and integrating data to refine geological models and guide the next phase of drilling. This iterative approach is critical to unlocking the full potential of the Bousquet Project.
Olympio holds an option to acquire an 80% interest in the Bousquet Project from Bullion Gold Resources, contingent on a total payment of C$1.25 million and a committed exploration investment of C$2 million. To date, Olympio has made payments totaling C$0.30 million and invested nearly C$1 million in exploration activities, underscoring its commitment to advancing the project.
Context Within a World-Class Gold District
The Bousquet Project is strategically located within 15 kilometres of significant operating gold mines, including Agnico Eagle’s La Ronde mine with 15.8 million ounces of gold and IAMGOLD’s Westwood mine with 2.4 million ounces. The proximity to these multi-million ounce operations situates Olympio’s project within a highly prospective and well-established gold-producing region.
While the current results are encouraging, the company and investors await the remaining assay data and subsequent resource modelling to better define the scale and grade of mineralisation. The historical data, combined with modern exploration techniques, position Olympio to potentially delineate a substantial gold resource in the near term.
Bottom Line?
With high-grade gold intersections confirming down dip potential, Olympio’s Bousquet Project is poised for a pivotal next phase of exploration that could reshape its resource profile.
Questions in the middle?
- What will the remaining 15 drill hole assays reveal about the overall mineralisation extent?
- How will the integration of historical and new data influence the upcoming resource model?
- What timeline and budget has Olympio set for the next drilling phase and potential resource upgrade?