Olympio Metals (ASX:OLY) has reported ‘high-grade’ gold intercepts in initial assays from phase three drilling at its Bousquet Gold Project in Québec, Canada.
The company received results from hole BO-26-67, which returned 5m @ 4.54 grams per tonne gold (Au) from 171m, including 0.75m @ 24.3g/t Au from 173.5m.
The intercept sits approximately 30m up plunge from previous hole BO-25-27, which intercepted 6.4m at 6.54g/t Au from 183m.
Hole BO-26-67 also returned a second intercept of 1.85m @ 2.17g/t Au from 208.7m.
Olympio’s phase three program comprised five diamond drill holes totalling 1,428m at the Paquin prospect. The program was designed to test strike orientation and establish lateral continuity along the 300-degree strike trend.
Managing Director Sean Delaney says the company continues to hit ‘high-grade gold’ from drilling at Bousquet.
“Our success rate in the 44 holes drilled to date continues to give us confidence that this is a large mineralised system,” Delaney notes.
“Results for the remaining holes are expected over the coming weeks, and, in the meantime, we will get back in the field to generate more targets for future drilling programs at Bousquet.”
Olympio also received televiewer data with more than 6,000 structural readings across 11 holes at the Paquin and Amadee prospects. The data will guide future drilling campaigns as Olympio continues to assess the information alongside assay results from the phase three program.
The Bousquet Gold Project sits on the Cadillac Break in Québec — a regional structure associated with gold mines containing more than 110 million ounces (Moz).
Bosquet is located within 15km of Agnico Eagle Mines’ (NYSE:AEM) LaRonde Mine, which contains 15.8Moz of gold, and IAMGOLD’s (TSX:IMG) Westwood Mine, containing 2.4Moz.
The company will commence a surface geochemical sampling campaign to generate additional drilling targets. Assay results from the remaining four phase-three holes are expected over the coming weeks.
Olympio Metals is an Australian explorer advancing a portfolio of gold and critical minerals projects in Canada and the US.
Write to JC Villarba at Mining.com.au
Images: Olympio Metals
