Olympio Metals has reported significant findings from its initial drilling campaign at the Bousquet gold project in Quebec, achieving high-grade gold intercepts in its first two drill holes. The company revealed assay results that highlight impressive gold grades at the Paquin prospect, including a notable intercept of just under half a metre yielding 42.3 grams per tonne (g/t) of gold within a broader zone measuring 5.4 metres at 7.6 g/t. The second hole also delivered strong results, with an intercept of 7.9 metres at 6.2 g/t, including a standout 1.3 metres at 17 g/t.
Significant Gold Discoveries and Geological Context
Visible gold grains were observed in a 20-centimetre section of smoky quartz vein hosted in altered rock, providing further validation of the mineralisation potential at the Bousquet project. Olympio has extended the known mineralisation at Paquin by an additional 60 metres, bringing the total strike length of gold hits to more than 300 metres. The mineralised system remains open in both directions, indicating the possibility of further discoveries.
The Bousquet project is strategically located along the Cadillac Break, a prominent geological structure that has produced over 110 million ounces of gold. Olympio’s drilling site is approximately 15 kilometres from two operational multi-million-ounce mines: Agnico Eagle’s 15.8-million-ounce LaRonde mine and Iamgold’s 2.4-million-ounce Westwood mine, placing it in a prime location for gold exploration.
Olympio’s initial drill holes were strategically positioned just 60 metres along strike from a historical intercept of 9 metres at 16.96 g/t. This proximity supports the company’s hypothesis that high-grade gold correlates with smoky quartz veining found within sulphidic, chlorite-carbonate altered rock. The consistency of these geological features is becoming increasingly evident in the drill core.
Future Exploration and Drilling Plans
Sean Delaney, Managing Director of Olympio, described the early results as “a great start.” He emphasized that the campaign has effectively tested the western extension of the mineralised zone, paving the way for aggressive follow-up drilling. Current drilling activities have already expanded beyond the initial 2,400 metres, targeting multiple emerging sites, not only at Paquin but also at the nearby Amadee prospect, which appears to share the same gold-bearing structure.
Field mapping at Amadee has revealed that its smoky quartz veins are similar to those found at Paquin. Historical drilling results at Amadee include 1.52 metres at 6.8 g/t and 1.52 metres at 5.6 g/t, suggesting a potential connection between the two zones that may form a single mineralised corridor extending over 1 kilometre.
Additionally, drilling at the Decoeur Extension prospect has commenced, targeting a large induced polarization (IP) anomaly associated with the North Bousquet Fault. This structure is considered highly prospective for gold discoveries. Drill core from Decoeur has also intersected smoky quartz veining with sulphides, although the full implications of the chargeability anomaly remain to be clarified. Assays from this drill hole are expected in August 2023.
Olympio is well-positioned for its ongoing campaign, having recently completed a $1.6 million capital raise, which garnered strong interest from sophisticated investors and company directors. With promising early results and several targets lined up along a globally recognized gold corridor, Olympio appears poised for continued exploration success in a region renowned for substantial gold deposits.
