Olympio Metals (ASX:OLY) has completed due diligence and is set to acquire an 80% interest in the Jacknife Silver Project in Idaho, US.
The company will be issuing shares to Scout Discoveries following its annual general meeting on 31 August 2026 under a binding agreement. Scout, a US mineral explorer, will serve as Olympio’s in-country technical and operational partner, providing geology and drilling services.
Jacknife spans roughly 1,594 hectares, including around 136 hectares of patented mining claims covering approximately 80% of a 7km mineralised trend. Olympio notes the patented claims require no federal permitting for exploration and limited permitting for underground mining.
The primary prospect, the Conjecture mine, holds a foreign estimate of 632,081 tonnes @ 13 ounces per tonne (405 grams per tonne silver) for 8.22 million ounces (Moz) of silver (Ag) from surface to more than 600m depth.
Historical production from Conjecture totalled approximately 2Moz Ag at an average grade of 22 ounces per tonne between 1956 and 1964. Overall, six mines across the project historically produced over 3.2Moz Ag at 12.7 ounces per tonne.
Managing Director Sean Delaney says technical review validated Jacknife as “an exceptional, high-grade asset”, noting its partnership with Scout as a ‘crucial’ component of this milestone.
“We welcome Scout not just as our in-country technical and operational partner, but also as a valued shareholder in Olympio,” Delaney says.
“Having Scout’s local geological and drilling expertise on the ground is a significant advantage.
“When you combine their operational capability with the fact that the core of Jacknife sits on patented mining claims, meaning we hold both mineral and surface rights with minimal permitting hurdles, we are in an outstanding position.”
Historical drilling highlights at Jacknife include 1.4m @ 692g/t Ag and 0.42g/t gold (Au) from 101.4m; 3.9m @ 264g/t Ag and 1.88g/t Au from 38.4m; and 0.6m @ 1,106g/t Ag and 0.81g/t Au from 100.4m.
The property covers the Conjecture, Weber, Bellville, and Hewer shear zones across 7km of combined strike.
Following the transaction, Olympio will also hold a first right of refusal on the historical Lakeview mill, located 2km away.
Antimony and silver are included in the US Geological Survey’s 2025 List of Critical Minerals, which is supported by the US Government’s US$12 billion ($16.7 billion) stockpile initiative.
The company is planning a maiden drilling program at the Conjecture shear zone to test grade continuity, alongside surface mapping and sampling across the broader project.
Olympio Metals is a mineral explorer focused on discovering and developing gold and critical mineral projects across North America and Australia.
Write to Paula Fabe at Mining.com.au
Images: Olympio Metals
