Olympio Metals Uncovers High-Grade Gold Zones at Bousquet, Raises $1.6M

Robust Drilling Results at Bousquet

Olympio Metals Limited has delivered a compelling update on its Bousquet Gold Project in Quebec, Canada, following the completion of an extended drilling campaign. Over the September quarter, the company drilled 32 diamond holes totaling 7,083 metres, confirming multiple zones of high-grade gold mineralisation across three key prospects – Paquin, Amadee, and Decoeur.

Noteworthy assay results from the Paquin Prospect include intercepts such as 5.4 metres at 7.6 grams per tonne (g/t) gold, including a high-grade segment of 2.9 metres at 10.27 g/t, and an exceptional 1.5 metres at 54.2 g/t. These findings extend the known mineralisation by approximately 60 metres to the west, highlighting the prospect’s growing potential.

Expanding the Gold Footprint

At the Amadee Prospect, drilling confirmed a broad, near-surface gold zone exceeding 40 metres in width and extending over 200 metres along strike. Intercepts such as 4.5 metres at 3.29 g/t gold, including a high-grade 0.5 metre section at 24.5 g/t, suggest the mineralisation is amenable to open-pit mining methods, potentially leveraging existing processing infrastructure nearby.

The Decoeur Prospect also showed promising results, with deeper and along-strike extensions of mineralisation, including 14.5 metres at 1.96 g/t gold from 355.5 metres depth. These results reinforce the structural continuity and resource upside across the Bousquet project area.

Strategic Use of Historical Data and Expertise

Complementing the drilling success, Olympio re-processed historical Very Low Frequency (VLF) electromagnetic survey data. This analysis has delineated significant gold-bearing structures, many of which remain untested and extend beyond current drilling limits. The correlation between these structures and known mineralised zones underscores the effectiveness of VLF data in guiding exploration targeting.

To bolster its geological capabilities, Olympio has integrated Martin Demers, a seasoned geologist with over 20 years’ experience in the Abitibi region, into its Bousquet exploration team. His expertise is expected to enhance drill planning and interpretation as the company advances its exploration strategy.

Corporate and Financial Position

To support ongoing exploration, Olympio successfully raised $1.595 million through a placement of nearly 16 million new shares at $0.10 each, a modest discount to the prevailing market price. Directors participated in the placement, signaling confidence in the project’s prospects. At quarter-end, the company held $0.5 million in cash with no debt, though it acknowledges the need for further funding to sustain operations beyond the next quarter.

Elsewhere, Olympio has extended due diligence on the sale of its Halls Creek tenements in Western Australia, with the potential for additional cash inflows contingent on the transaction’s completion.

Outlook

With high-grade gold intercepts confirming the potential of the Bousquet Project and a clear pipeline of untested structural targets, Olympio Metals is positioning itself for a pivotal phase of resource definition and growth. The company’s ability to secure additional funding and deliver further assay results will be critical to sustaining momentum and unlocking value for shareholders.