Olympio Metals has reported a surge in gold grades from its Phase 2 drilling at the Paquin Prospect within the Bousquet Gold Project, Quebec, delivering 36 new significant intercepts including a standout 3.8m at 5.03 g/t Au and reinforcing the bonanza-grade potential first revealed in March.
- 36 new significant gold intercepts boost total to 138 at Bousquet
- High-grade zones include 3.8m at 5.03 g/t Au and 19.4m at 17.29 g/t Au
- Phase 2 drilling completed with 7 holes for 1,639m at Paquin Prospect
- Upcoming televiewer survey to clarify structural controls
- Olympio holds option to acquire 80% interest with ongoing exploration investment
Gold Grades Climb Deeper at Paquin Prospect
Olympio Metals Limited (ASX:OLY) has revealed that its latest Phase 2 diamond drilling at the Paquin Prospect within the Bousquet Gold Project in Quebec continues to deliver encouraging high-grade gold results. The program added 36 significant gold intercepts, including a notable 3.8 metres at 5.03 grams per tonne (g/t) gold from 59.7 metres in hole BO-26-60, lifting the total count of significant intercepts across the project to 138.
Most striking is the confirmation of a substantial increase in gold grade at depth. Drill hole BO-26-64 returned 6.1m at 1.24 g/t Au from 74.9m, which aligns closely with the previously reported bonanza intercept of 19.4m at 17.29 g/t Au from 172.5m in hole BO-26-63. This represents a near doubling in gold gram-meters over approximately 100 metres down plunge, suggesting the main lode’s grade intensifies with depth. The plunge orientation is yet to be confirmed, with the company planning a televiewer survey to refine structural interpretations.
Strategic Location Near World-Class Gold Mines
The Bousquet Project sits on the prolific Cadillac Break, a geological structure renowned for hosting over 110 million ounces of gold in world-class mines. It lies within 15 kilometres of Agnico Eagle’s La Ronde mine (15.8 Moz Au) and Iamgold’s Westwood mine (2.4 Moz Au), positioning Olympio’s asset in a highly prospective corridor. The project’s mineralisation is structurally controlled, with gold associated with quartz veins and sulphides within north-dipping shear zones.
Olympio’s Managing Director Sean Delaney emphasised the significance of the new results, stating the company plans to test lateral and down plunge extensions of the high-grade zones in the next drilling program scheduled for late May. The upcoming televiewer survey will be instrumental in confirming structural links between drill holes, a vital step before expanding the resource model.
Project Ownership and Exploration Progress
Olympio holds an option to acquire an 80% stake in the Bousquet Project from Bullion Gold Resources, with payments totalling C$1.25 million and exploration expenditure commitments of C$2 million. To date, Olympio has paid C$0.30 million and invested nearly C$1 million in exploration activities. Bullion retains a 20% net carried interest. The recent Phase 2 drilling comprised seven holes totaling 1,639 metres, focused primarily on the Paquin Prospect.
The company awaits assay results from drill hole BO-26-66 targeting the BRG01 zone and is advancing plans for a televiewer survey in May to enhance geological understanding. This survey will feed into the design of a Phase 3 drilling campaign, aiming to build on the promising high-grade intercepts reported so far.
These latest results follow the company’s earlier announcement of the bonanza intercept in hole BO-26-63, which showcased 19.4m at 17.29 g/t gold, a highlight that has now been contextualised by the new data indicating a grade increase down plunge. The continuity and scale of these high-grade zones remain key questions ahead of resource updates.
Olympio’s methodical approach to integrating historical data with new drilling and geophysical surveys reflects the complexity of the Bousquet geology. While true widths of mineralisation remain to be calculated and structural plunge confirmed, the drilling results reinforce the project’s potential in a globally recognised gold district. The company’s ongoing exploration and investment strategy will be closely watched as it aims to translate these promising intercepts into a defined resource.
For perspective on the project’s progression, Olympio’s recent 19.4m intercept at 17.29 g/t gold remains a benchmark for the scale of mineralisation being targeted and underpins the optimism for further high-grade extensions.
Bottom Line?
Olympio’s drilling success at Paquin suggests the Bousquet Project’s gold system is strengthening at depth, but structural confirmation and resource modelling remain critical next steps.
Questions in the middle?
- Will the upcoming televiewer survey confirm the plunge orientation and structural controls of the main lode?
- Can Olympio extend the bonanza-grade intercepts laterally and down plunge to underpin a substantial resource?
- How will the integration of historical and new data influence the timing and scale of resource estimation?