Olympio Metals (ASX:OLY) made a “bonanza” gold intercept at its Bousquet Project, 30km east of the Rouyn-Noranda mining centre in Québec, Canada.
First assays from phase two drilling at Paquin produced 7.5 metres at 41.81 grams per tonne of gold from 182 metres. Olympio described the result as the “best gold drill intersection” to date.
Seven holes have been drilled at the project, spanning a combined 1.6km. Assays are pending for a further six holes.
“These first results from the second phase of drilling highlight the potential of the high-grade lodes and are the best drill results for the Bousquet Project to date,” Olympio Managing Director Sean Delaney says.
“We look forward to seeing the outstanding assay results for BO-26-63 and the other six holes of the program, due in the coming weeks.”
Olympio has an option to acquire an 80% interest in the Bousquet Project from Bullion Gold Resources (TSX-V:BGD) for C$1.25 million ($1.29 million) of cash and shares with a C$2 million ($2.07 million) exploration investment.
The company plans to review and revise the geological model for the Paquin prospect.
Olympio Metals is a critical minerals explorer with assets mostly in Australia and Canada.
Write to Richard Szabo at Mining.com.au
Images: Olympio Metals
