Olympio Metals (ASX:OLY) has outlined the potential for a large-scale gold deposit at the Bousquet Project in Canada, after extensive mineralised structures mapped over 3km east-west and 1.5km north-south.
To date, drilling confirmed gold mineralisation at the Paquin, Amadee, and Decoeur prospects. All drillholes completed and assayed across three prospects have intersected gold mineralisation, with further assay results expected over the next two months.
Managing Director Sean Delaney says Bousquet is “rapidly emerging as a significant” new discovery.
“Historical very low frequency (VLF) surveys have mapped multiple mineralised structures that extend well beyond the known prospects yet remain largely untested, offering substantial scope for new discoveries,” Delaney says.
“Even more exciting is that we have only just scratched the surface. To the north of the Cadillac Break lies a further 10km of untested strike, directly along trend from world-class deposits.
“Our team is preparing to systematically drill several of these high-priority structural targets in the coming months and we’re looking forward to delivering strong news flow as assay results from this drill program are received.”
Many of the structures interpreted from the VLF data extend beyond known limits of gold mineralisation defined by drilling, and remain untested. The company says much of the area is covered by thin glacial till, and surface prospecting is typically ineffective.
Select priority VLF electromagnetic structural targets are being drill tested, with results expected in due course.
Olympio notes the Cadillac Break within Bousquet is largely unexplored, particularly to the north where the company is yet to begin exploration along a 10km strike of the Cadillac Break.
The Normar Nord prospect is associated with a porphyry intrusive immediately north of the Cadillac Break and remains a priority target for further exploration.
Olympio has an option to acquire up to 80% of the Bousquet Project located on the Cadillac-Lake Larder Fault Zone in Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Olympio Metals
