Olympio Metals has kicked off a new drilling phase at its Bousquet Gold Project in Quebec, aiming to extend a previously reported high-grade gold intercept of 19.4 metres at 17.29 g/t. The company recently boosted its stake to 51%, underscoring its commitment to unlocking this prolific Cadillac Break asset.
- Phase 3 drilling targets lateral and down-dip extensions of high-grade lode
- Previous intercept hit 19.4m at 17.29 g/t gold at Paquin Prospect
- Olympio now holds 51% ownership with plans to increase to 80%
- Project situated near multi-million ounce mines on Cadillac Break, Quebec
- Down-hole televiewer survey data to guide ongoing exploration
Follow-up Drilling Targets Bonanza-Grade Gold Lode Extensions
Olympio Metals Limited (ASX:OLY) has commenced a roughly 1,500-metre diamond drilling campaign at the Paquin Prospect within its Bousquet Gold Project in Quebec. This Phase 3 program aims to expand upon the standout intercept reported in March; a 19.40-metre section grading 17.29 grams per tonne gold from 172.5 metres depth in hole BO-26-63. The company is focused on delineating the lateral and down-dip extent of this high-grade mineralised lode, a critical step in defining the project’s potential scale and economic viability.
Strategic Ownership Position Strengthened Amid Exploration
Olympio recently increased its ownership stake in the Bousquet Gold Project to 51% by meeting exploration expenditure and option payment commitments to Bullion Gold Resources. The company retains flexibility to accelerate its path to an 80% interest through further payments and exploration spend over the next five years, with Bullion maintaining a 20% net carried interest. This ownership milestone aligns with Olympio’s intensified drilling activity and signals confidence in the project’s upside potential.
Project Location Taps into a World-Class Gold District
The Bousquet Gold Project lies on the Cadillac Break, a major regional structure in Quebec renowned for hosting world-class gold deposits exceeding 110 million ounces. It sits within 15 kilometres of significant operating mines including Agnico Eagle’s La Ronde (15.8 million ounces) and Iamgold’s Westwood (2.4 million ounces). This proximity to established gold districts adds geological context and exploration appeal, positioning Bousquet within a prolific gold corridor.
Down-Hole Televiewer Survey Enhances Structural Understanding
Phase 3 drilling targets have been informed by preliminary results from a down-hole televiewer survey completed in May, covering over 2,250 metres of drill core. This survey provides detailed structural data critical to interpreting the controls on mineralisation and guiding further drill targeting. Full results from the survey are expected in the coming weeks and will likely shape the next phase of exploration at Paquin.
Management Eyes Defining the High-Grade Lode’s Dimensions
Olympio’s Managing Director Sean Delaney highlighted the significance of returning to drill at Paquin following the bonanza intercept. He emphasised that the current program aims to define the size of the high-grade lode and begin testing its depth potential. These efforts will be critical to assessing whether the system can support a viable resource expansion beyond the impressive Phase 2 results.
Bottom Line?
Olympio’s Phase 3 drilling at Bousquet will be a crucial test of the high-grade lode’s continuity and scale, with upcoming survey data set to refine targeting and potentially unlock further value in this well-positioned Quebec gold project.
Questions in the middle?
- Will the Phase 3 drilling confirm lateral and down-dip continuity of the bonanza-grade gold zone?
- How will the full results of the down-hole televiewer survey influence future drill planning and resource modelling?
- What timeline and investment will Olympio commit to reaching 80% ownership of the Bousquet Gold Project?