Olympio Metals (ASX:OLY) has returned 19.40m @ 17.29g/t gold from 172.5m in phase two drilling at the Bousquet Project in Québec, Canada.
The ‘bonanza’ intercept at the Paquin prospect includes previously reported intervals of 7.5m @ 41.81g/t gold and 2m @ 109.51g/t gold from 182.7m.
Drilling covered 1,639m across 7 holes in the phase two campaign at Bousquet, with the company awaiting assays from the remaining six drillholes.
Managing Director Sean Delaney says the company is looking forward to receiving the remaining assays in the coming weeks, which will help advise the next drilling campaign.
“This is an incredible set of results to complete the assays for hole BO-26-63 and it is rare to see an intercept with 19.4m @ 17.29 g/t gold,” Delaney says.
“Our aim now will be to determine the size and geometry of this gold lode and to test for similar lodes through further drilling at Paquin and throughout the Bousquet Project.”
The first drillhole was intended to test for ‘high-grade’ gold lodes that may run parallel to the previous hole.
Geological logging has indicated chlorite altered quartz-carbonate veining and larger blue quartz veins as the two main vein types within the Paquin system.
The company says drill core and assay results demonstrate the intercept in hole BO-25-28 of 7.9m at 6.2g/t gold is not connected to the high-grade lode intercepted in BO-26-63 and BO-25-27, suggesting multiple high-grade lodes at Paquin.
Olympio plans to conduct a downhole televiewer survey to gain additional structural information and better understand the orientation of these different lodes.
The Bousquet Project is located 15km from major gold mines including Agnico Eagle‘s (TSX:AEM) La Ronde, which hosts 15.8 million ounces of gold, and Iamgold‘s (TSX:IMG) Westwood, which hosts 2.4 million ounces of gold.
Olympio Metals is an Australian explorer focused on building value through the discovery and development of gold projects in Québec, Canada.
Write to Maddison Elliott at Mining.com.au
Images: Olympio Metals
