The VLF target was named from historical very low frequency (VLF) electromagnetic geophysical surveys, specifically a 1986 survey that identified linear conductors (such as potential sulphides or graphitic schists) associated with induced polarisation (IP) anomalies.
The VLF surveys mapped multiple mineralised structures along the Cadillac Break which Olympio has reprocessed to prioritise drilling targets such as VLF, the signatures to broader structural trends that include the North Bousquet Fault and potential splays off it towards Paquin.
Located within 15kms of Agnico Eagle’s 15.8M ounce La Ronde gold project and Iamgold’s 2.4M ounce Westwood gold project, Olympio’s Bousquet Project sits on the prolific Cadillac Break which has an estimated regional endowment exceeding 110M ounces of gold.
Olympio retains an option to earn 80% of the project from Bullion Gold Resources for C$1.25M (A$1.36M) in cash and shares and C$2M (A$2.18M) expenditure on exploration of which C$300k has been paid and about C$1M has been expended, respectively. Bullion Gold retains a 20% interest.
Next steps include a 2,300m diamond drilling program at Paquin to modernise shallow historical data to acquire compatibility for a JORC resource estimation and a 4,200m diamond drilling campaign to test down-dip and strike extensions.
Decoeur’s newly-defined 1.7km trend will also be structurally reviewed to prioritise high-grade shoots.
With multiple structures now active and significant strike trends open, Olympio is planning to fast-track its high-impact drilling at Paquin while further investigating and refining other areas of interest across regional targets north of the Cadillac Break.
For now however the Bousquet project is rapidly evolving into a multi-deposit gold camp – with 1.7km of confirmed strike in the Joannes-Decoeur trend, deep high-grade hits, further results to come from two holes at CB1 and a new feeder structure north of Paquin. All of which point to substantial scale potential within a world-class gold belt.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
