19.4m @ 17.29 g/t Gold Highlights Olympio’s Bousquet Phase 2 Drilling

Bonanza Grade Intercept at Bousquet

Olympio Metals Limited (ASX:OLY) has reported a standout assay result from its Phase 2 drilling campaign at the Bousquet Gold Project in Quebec, Canada. Hole BO-26-63 returned an impressive 19.4 metres grading 17.29 grams per tonne (g/t) gold starting at 172.5 metres depth. This intercept includes previously disclosed high-grade intervals such as 7.5 metres at 41.81 g/t and 2 metres at 109.51 g/t, underscoring the bonanza nature of the mineralisation.

The Bousquet Project lies along the prolific Cadillac Break, a regional geological structure renowned for hosting world-class gold deposits exceeding 110 million ounces. Olympio’s project is strategically positioned within 15 kilometres of significant operating gold mines, including Agnico Eagle’s La Ronde (15.8 Moz) and Iamgold’s Westwood (2.4 Moz), highlighting the district’s rich endowment.

Multiple High-Grade Lodes Confirmed

Drilling results reveal that the Paquin prospect hosts multiple discrete high-grade gold lodes rather than a single continuous zone. The recent intercept in BO-26-63 is geologically distinct from other nearby holes, suggesting a complex system of parallel lodes. Geological logging identified two main vein types: chaotic chlorite-altered quartz veins with variable gold grades, and larger blue quartz veins associated with the highest grades and visible gold.

Olympio plans to conduct a downhole televiewer survey to better understand the structural orientation and geometry of these lodes, which is critical for targeting future drilling and resource estimation. The company has completed seven holes totaling 1,639 metres in Phase 2, with assays pending for six additional holes.

Strategic Acquisition and Exploration Outlook

Olympio holds an option to acquire an 80% interest in the Bousquet Project from Bullion Gold Resources, contingent on payments totalling C$1.25 million and a C$2 million exploration investment. To date, Olympio has made C$0.3 million in payments and spent nearly C$1 million on exploration activities. Bullion retains a 20% carried interest.

Managing Director Sean Delaney emphasised the significance of the results, noting the rarity of such a high-grade intercept over a substantial width. The company is focused on delineating the size and shape of the gold lodes and intends to expand drilling both at Paquin and across the broader Bousquet project. The pending assay results from the remaining holes will be pivotal in refining the geological model and guiding the next phase of exploration.

Context Within a Proven Gold District

The Bousquet Project benefits from its location within a well-established mining jurisdiction with a history of gold production and exploration. The geological setting features structurally controlled quartz veins within turbidite and conglomerate host rocks, typical of the Cadillac Break gold camps. Historical drilling and geophysical surveys have laid a foundation that Olympio is building upon with modern techniques and systematic exploration.

While the true widths of mineralisation remain to be fully determined, the current results provide strong encouragement for the potential scale and grade of the deposit. The company’s methodical approach to data verification, including quality control and structural analysis, aims to reduce exploration risk and enhance confidence in the project’s prospects.