Olympio Metals (ASX:OLY) has intersected pegmatite in all drillholes logged to date from an ongoing diamond drilling program at its Cadillac Lithium Project in Quebec, Canada.
The company says diamond drilling is well advanced and is progressing ahead of schedule, with 22 holes completed to date on 4 separate pegmatite targets.
Core cutting and sampling is underway with first assays expected by the end of March 2024.
Managing Director Sean Delaney says: “The diamond drilling has been progressing very well and is ahead of schedule at our Cadillac Lithium Project. Significant widths of pegmatite have been consistently intersected across multiple targets.”
The program comprises 3,000m of diamond drilling, which has been designed to test several of the greater than 400 pegmatite targets across the 190km-square Cadillac Project, and is being spearheaded by local exploration consultants Explo-Logik.
Forage Mdion has been employed as drilling contractor for the program.
Cadillac sits less than 50km from the mining town of Val d’Or, providing easy access through existing infrastructure and was acquired by Olympio from Vision Lithium (CVE:VLI) in 2023.
Olympio Metals is a Western Australia explorer focused on the discovery and development of critical minerals projects. The company holds a portfolio of projects in Australia and Canada.
As of December 2023, Olympio had $2.52 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Olympio Metals
