Olympio Metals Confirms High-Grade Gold Continuity at Bousquet with New 24.3 g/t Assay
Olympio Metals has reported a standout 5m intercept averaging 4.54 g/t gold, including a 0.75m section hitting 24.3 g/t, from its latest drilling at the Bousquet Gold Project in Quebec. This result reinforces the strike orientation of the main lode and sets the stage for further exploration.
- 5m at 4.54 g/t Au including 0.75m at 24.3 g/t from Phase 3 drilling
- Televiewer survey yields 6,000+ structural readings for targeting
- Phase 3 drilling confirms strike orientation and lateral continuity
- Olympio holds 51% interest with option to increase to 80%
- Surface geochemical sampling campaign to generate new targets
Phase 3 Drilling Delivers High-Grade Gold at Bousquet
Olympio Metals Limited (ASX:OLY) has kicked off its latest round of results from the Bousquet Gold Project in Quebec with a striking intercept of 5 metres at 4.54 grams per tonne (g/t) gold, including a blistering 0.75 metres grading 24.3 g/t. This comes from the first hole of their Phase 3 diamond drilling campaign targeting the Paquin prospect, a key part of the project’s mineralised system.
The intercept lies about 30 metres up-plunge from a previous hole that returned 6.4 metres at 6.54 g/t, suggesting a robust continuity along the strike of the main lode. Olympio’s Managing Director, Sean Delaney, highlighted the encouraging nature of these results, noting the company’s consistent success across 44 holes drilled to date and their confidence in the scale of the mineralised system.
Structural Insights from Extensive Televiewer Survey
Alongside assay results, Olympio has received detailed televiewer data comprising over 6,000 structural readings from 11 drill holes across the Paquin and Amadee prospects. This high-resolution structural information will be instrumental in refining the geological model and guiding future drilling campaigns, as the company seeks to delineate the strike orientation and lateral continuity of the gold mineralisation.
The Phase 3 program involved five diamond drill holes totalling 1,428 metres, specifically designed to test the strike orientation of 300 degrees for the main lode at Paquin. Early indications from the BO-26-67 hole confirm this strike orientation, with the remaining holes expected to shed further light on lateral continuity along this trend.
Strategic Location and Ownership Structure
The Bousquet Gold Project is strategically situated along the Cadillac Break, a prolific regional structure in Quebec that hosts world-class gold mines with over 110 million ounces of gold produced historically. The project lies within 15 kilometres of major operating mines such as Agnico Eagle’s La Ronde, which boasts 15.8 million ounces, and Iamgold’s Westwood mine with 2.4 million ounces.
Olympio currently holds a 51% interest in Bousquet, earned through exploration expenditure and option payments to Bullion Gold Resources, which retains a 20% net carried interest. The company has flexible commitments to increase its stake to 80%, involving further option payments and expenditure over five years.
Next Steps for Exploration and Target Generation
With assays pending for the remaining four holes from the Phase 3 drill program, Olympio is preparing to launch a surface geochemical sampling campaign aimed at generating fresh drilling targets. This work will complement the structural insights gained from the televiewer survey and the ongoing geological modelling, potentially unlocking new zones for testing within the Bousquet project.
While the true widths of mineralisation have yet to be calculated, and full assay results are awaited, the combination of high-grade intercepts and detailed structural data positions Olympio to sharpen its exploration focus in the coming months.
Bottom Line?
Olympio’s latest high-grade intercept at Bousquet reinforces the project’s potential, but upcoming assay results and structural analysis will be critical to defining its scale and continuity.
Questions in the middle?
- Will the remaining Phase 3 drill results confirm lateral continuity along the 300-degree strike?
- How will the televiewer structural data refine targeting and impact future drilling efficiency?
- What timelines and budgets will Olympio allocate to accelerate earning up to 80% ownership?
