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Helen Barling
Olympio Metals has unlocked a pipeline of compelling gold and base metal targets at its Bousquet gold project in Quebec, Canada, with a maiden soil program delivering strong geochemical clues that will help sharpen the company’s next round of drilling.
The company collected 303 soil samples across 10 separate strips covering 1.6 square kilometres along the renowned Cadillac Break, with results revealing multiple gold anomalies. Peak gold-in-soil assays reached 0.58 grams per tonne (g/t) gold over a newly delineated “T1” regional target.
The strong multi-element pathfinder signature also coincided with a prospective tonalite at T1, where historical drilling has pulled out 105m averaging 0.22 g/t gold from 150m – underscoring the scale potential of the system.
Soil samples were collected from the subsoil layer directly beneath the surface, where geochemical signals tend to hang around longer and tell a clearer story.
‘The broad scale gold results within the tonalite intrusion highlights that there is more to Bousquet.’
Olympio Metals managing director Sean Delaney
Although the soils are relatively young and shaped by glacial drift – a process that can smear metals away from their bedrock source – the material has left significant clues. By mapping glacial striations, the company says it has pinned down the direction of ice movement, giving it a geological compass to trace soil anomalies back to their likely source.
Recent reinterpretation and compilation of historical geophysical datasets have highlighted seven underexplored regional targets that exhibit structural signatures analogous to those of the Paquin prospect. The company considers these complex structural settings to be highly prospective for focusing gold-bearing hydrothermal fluids and priority candidates for follow-up exploration.
Management says the program has confirmed the soil sampling technique as a reliable tool for systematic regional exploration, with targets now being ranked and progressed through approvals to assemble a portfolio of drill-ready prospects across Bousquet.
Olympio Metals managing director Sean Delaney said: “We are excited to see the soils confirming the prospectivity of the T1 Target being developed by the team. The broad scale gold results within the tonalite intrusion highlights that there is more to Bousquet than the historical prospects”.
Olympio’s exploration push comes just weeks after a maiden diamond drilling program delivered more than 100 significant gold intercepts, suggesting the company has its foot planted firmly on something substantial along the legendary Cadillac Break.
Standout hits included 6.4 metres at 6.54 grams per tonne (g/t) gold from 183 metres, 7.9m at 6.2g/t from 138 metres and a 1.5m at a blistering 54.2g/t from 235.5 metres at the Paquin prospect.
The market response at that time was swift, with Olympio shares rocketing 125 per cent to 13 cents on a hefty 64 million shares traded, marking the company’s busiest day in more than a year.
The Cadillac Break is a world-renowned structural corridor that hosts some of the most significant deposits in the Abitibi greenstone belt and has delivered over 110 million ounces of gold.
Bousquet straddles the Cadillac Break and is just 15 kilometres west of major operating mines, including Agnico Eagle’s 15.8-million-ounce La Ronde complex and Iamgold’s 2.4-million-ounce Westwood mine. It is also less than 3km east of Hecla Mining’s 1.8 million ounce Hosco deposit, placing Olympio firmly in world-class gold territory.
Olympio has the option to earn 80 per cent of the Bousquet project from Canadian-listed Bullion Gold Resources in exchange for C$1.25 million (A$1.3 million) and an exploration investment of C$2 million (A$2.1 million). Olympio has so far made payments of C$0.3 million ($A0.31 million) in cash and shares and completed an exploration spend of nearly C$1.0 million (A$1.04 million).
With gold trading near record highs and momentum building, Olympio is lining up a compelling run at Bousquet. A growing inventory of drill-ready targets along Cadillac Break, backed by strong early results in a world-class neighbourhood, gives the junior a timely shot at turning exploration success into market firepower.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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