Olympio Metals (ASX:OLY) has completed due diligence on its option to acquire the Raven Silver Project in Montana and the Sawtooth Antimony Project in Idaho from Lia Energy.
The company has now exercised the option, resulting in the acquisition of the two US projects.
Managing Director Sean Delaney says the acquisition of two assets prospective for silver, antimony, and copper in the US “diversifies Olympio’s exposure into the critical minerals space”.
“The Olympio team have completed due diligence and are excited about the geological prospectivity of the projects,” Delaney says.
“The Olympio team will initially focus on the ground efforts at the Raven mine, conducting surface exploration campaigns to generate new drilling targets.
“Both the Raven and Silver King mines have a history of high-grade silver and copper production, presenting an opportunity to apply modern exploration methods to these highly prospective areas.”
Neither project has experienced modern exploration or drilling.
The Raven Project has a recorded historical production with average grades of 2,084 grams per tonne silver plus 19.51% copper at the Raven mine and an average of 996g/t silver at the Silver King mine.
The total project area comprises 27 mineral claims, hosting two “historically significant mines” within the Thompson River mining district, Olympio says.
An operational silver-antimony smelter with additional infrastructure is located near Raven in Thompson Falls.
The Sawtooth Antimony Project comprises three silver-antimony prospects near the historic Sawtooth City mining camp.
All three prospects have silver and antimony occurrences, though no sampling methodology records have been located.
The company is working with Scout Discoveries Corp to conduct a ground reconnaissance mapping and sampling campaign at the new assets, concentrating on the Raven and Silver King mines.
Olympio Metals is a gold explorer focused on discovering and developing its portfolio of assets in Canada and the US.
Write to Maddison Elliott at Mining.com.au
Images: Olympio Metals
