Olympio Metals (ASX:OLY) is planning a drilling program during the Canadian summer at the Bousquet Gold Project in Québec, following defining Paquin East as a priority drill target.
The Paquin East strike extension drill program has been compiled and submitted for permitting. Further review of the historical drilling data is underway along with a review of the regional targets within the Bousquet Project to prepare for the field season on the ground.
A review of historical drilling at the Paquin East prospect highlights the western strike extent is under-explored. To date, drilling intersections have returned grades up to 129.25 grams per tonne gold.
The Paquin East mineralisation remains largely open at depth, however further structural analysis is required before targeting mineralisation extensions at depth.
Managing Director Sean Delaney says the company has submitted drillholes for permit approval and look forward to drilling in Q3 2025.
“A historical drill intercept of 9m @ 16.96g/t gold occurs on the western margin of the prospect and yet it has only been followed up with a single hole 10m along strike,” Delaney says.
“Knowing the coarse gold is a consistent feature of the Paquin mineralisation, and the observed pinch and swell nature of the host quartz vein systems at surface, there remains significant potential to expand the mineralisation envelope with drilling.”
Further review of historical drilling data is underway along with a review of the regional targets within the Bousquet Project to prepare for the field season on the ground.
The Bousquet Project is an advanced gold project on the Cadillac-Lake Larder Fault Zone in Québec, Canada. The Cadillac Break is a regional structure associated with gold and copper mineralisation containing more than 110 million ounces of gold.
The gold price recently reached a historic peak, breaking US$3,000 an ounce. This morning (19 March) it was around US$3,044. UBS has raised its gold price target to US$3,200 on the continued strong demand. The Swiss investment bank expects it could get to this level possibly as early as June, as reported by Mining.com.au.
Macquarie predicts the gold price will reach US$3,500 in Q2 2025, while Goldman Sachs expects the precious metal to hit US$3,100 an ounce in 2025.
Write to Aaliyah Rogan at Mining.com.au
Images: Olympio Metals
