Unreliable 1940s Data Spurs Olympio to Modernise Bousquet Gold Exploration

Renewed Focus on Paquin Prospect

Olympio Metals Limited (ASX, OLY) has announced the recommencement of drilling at its Bousquet Gold Project in Quebec, Canada, with a clear focus on the Paquin Prospect. This follows a maiden drill program in 2025 that delivered several high-grade gold intercepts, including standout results such as 1.5 metres at 54.2 grams per tonne gold and 6.4 metres at 6.54 grams per tonne. These promising results have set the stage for a more detailed and modern exploration campaign.

The new drilling program comprises eight diamond drill holes totalling approximately 1,200 metres. The primary objective is to test the upper 100 metres of the Paquin mineralised zone, an area that has not seen drilling since the 1940s. Historical drilling data from that era is considered unreliable due to outdated survey methods and incomplete sampling, making this modern program critical for building a robust geological and structural model.

Modern Techniques to Unlock Structural Insights

Olympio’s Managing Director, Sean Delaney, emphasised the importance of this phase, "The program will provide further insight into the shallower parts of the Paquin gold system, where historical datasets are over 80 years old and not suitable for incorporation into a 3D model." The company is employing contemporary diamond drilling techniques, including oriented core sampling and advanced assay methods such as fire assay with metallic screen analysis to accurately capture coarse gold.

Two drill holes are specifically planned to test the up-plunge and up-dip positions of a previous hole (BO-25-27) that intersected visible gold, aiming to confirm and extend the high-grade zones. The flexible nature of the program allows for potential extensions should initial results warrant further investigation.

Strategic Location on the Cadillac Break

The Bousquet Gold Project is strategically situated on the Cadillac Break, a major regional structure known for hosting world-class gold deposits exceeding 110 million ounces. It lies within 15 kilometres of significant operating gold mines such as Agnico Eagle’s La Ronde (15.8 million ounces) and Iamgold’s Westwood (2.4 million ounces), underscoring the district’s rich endowment.

Olympio currently holds an option to acquire an 80% interest in the project from Bullion Gold Resources, having already invested close to C$1 million in exploration and made initial payments totaling C$0.3 million. Bullion retains a 20% carried interest, aligning incentives for ongoing development.

Historical Context and Future Exploration

The project’s exploration history spans nearly a century, with multiple drilling campaigns and geophysical surveys revealing a complex structural setting and multiple gold prospects beyond Paquin, including Decoeur and Joannes. Recent drilling at Decoeur has identified a 1.7-kilometre mineralised trend, with further structural analysis planned to prioritise targets.

Geophysical data, including induced polarization surveys, have highlighted chargeability anomalies that remain open for testing. Olympio plans to integrate these datasets with ongoing mapping and drilling results to refine exploration targets across the property.

With assay results from the 2026 drilling program expected in the coming weeks, Olympio is poised to significantly enhance the understanding of the Paquin gold system and potentially unlock new zones of mineralisation in this historically underexplored region.