Olympio Metals (ASX:OLY) has agreed to sell half of its Halls Creek Project tenements in the East Kimberley regions of Western Australia to prospector Bill Richmond for $220,000.
Under the agreement, Richmond has acquired tenements E80/5025, E80/5148, and E80/5149, which make up the Dry Creek and Slinkey Hill prospects, respectively, in the Halls Creek region.
Olympio is expected to retain the outstanding tenements in the Halls Creek project including the Woodward Range prospect, where recent drilling intersected several anomalous quartz-haematite veins prospective for gold mineralisation up to 18.6 grams per tonne.
Managing Director Sean Delaney says the tenements sold to Richmond are outside of the company’s priority areas and are considered non-core to its exploration.
Olympio has assembled a portfolio of high quality projects in Australia and Canada. In Canada, the company has acquired the Cadillac Lithium Project in the James Bay region of Quebec.
In Australia, Olympio is focused on exploration for carbonatite-hosted rare earths in South Australia, lithium near the historic mining centre of Kalgoorlie in Western Australia, and gold in the eastern Kimberley region.
As of 30 December 2023, Olympio Metals 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
