Olympio Metals Hits 11m at 1.43 g/t Gold With 39 of 43 Holes Returning Results
Key Takeaways
- Phase 3 drilling at the Paquin Prospect returned a headline intercept of 11.0m @ 1.43 g/t Au from 174.0m in hole BO-26-68, sitting 40m along strike from the earlier bonanza result of 19.4m @ 17.29 g/t Au.
- 39 out of 43 holes drilled at Bousquet since acquisition have returned significant gold intercepts, demonstrating consistent mineralisation across the system rather than isolated high-grade pockets.
- The Paquin/Amadee trend has 1.3km of confirmed strike and has only been tested to approximately 157m vertical depth, with a further 1.5km of strike open to the west along the conglomerate contact.
- Only approximately 20% of the Bousquet Project has been tested across three drill programs, leaving multiple high-priority target areas — including a 300m gap between Paquin and Amadee — essentially untouched since the 1940s.
- The next phase of drilling targets a potential maiden resource at Paquin, strike extension to the west, and testing of 1.5km of untested conglomerate contact, with Olympio currently holding a 51% project interest and a clear path to 80%.
Phase 3 drilling delivers broad gold intercepts at Bousquet’s Paquin prospect
Final assays from Phase 3 drilling at Olympio Metals (ASX: OLY) confirm broad gold mineralisation across the Paquin prospect of the Bousquet Gold Project in Quebec, Canada, with headline intercept 11.0m @ 1.43 g/t Au from 174.0m in hole BO-26-68. The completion of Phase 3 drilling extends a run of consistent results — 39 out of 43 holes drilled at Bousquet since acquisition have returned significant gold intercepts, reinforcing the company’s view that it is testing a large mineralised system.
Hole BO-26-68 sits approximately 40m along strike from the bonanza intercept of 19.4m @ 17.29 g/t Au in BO-26-63 (reported 31 March 2026) and approximately 20m down dip from BO-26-67, which had previously delivered 5.0m @ 4.54 g/t Au from 171.0m, including 0.75m @ 24.3 g/t Au from 173.5m. Together, these results demonstrate spatial continuity across the Paquin zone rather than isolated pockets of gold.
Sean Delaney, Managing Director
“Our drilling success at the Bousquet Gold Project continues with results from the last four holes of the program delivering broad gold intercepts including 11m @ 1.43 g/t gold in hole BO-26-68. Our drilling has produced significant gold intercepts in 39 out of 43 holes drilled at Bousquet since we acquired the project last year, which continues to give us confidence that we are in a large mineralised system.
“The Paquin/Amadee trend has 1.3km of strike and has only been tested to a depth of ~157m with a further ~1.5km of strike of the main conglomerate contact open to the west, which demonstrates the tremendous upside for further discovery…”
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Key Phase 3 drill results at a glance
The five holes drilled during Phase 3 targeted the Paquin prospect, testing the strike orientation of the mineralised system. The table below summarises significant intercepts from that program.
| Hole ID | From (m) | Width (m) | Grade (g/t Au) | Significant Intercept |
|---|---|---|---|---|
| BO-26-67 | 171.0 | 5.0 | 4.54 | 5.0m @ 4.54 g/t Au from 171.0m (previously reported) |
| BO-26-67 (incl.) | 173.5 | 0.75 | 24.3 | 0.75m @ 24.3 g/t Au from 173.5m |
| BO-26-67 | 208.7 | 1.85 | 2.17 | 1.85m @ 2.17 g/t Au from 208.7m |
| BO-26-68 | 174.0 | 11.0 | 1.43 | 11.0m @ 1.43 g/t Au from 174.0m |
| BO-26-69 | 187.5 | 3.5 | 1.15 | 3.5m @ 1.15 g/t Au from 187.5m |
| BO-26-70 | 54.0 | 6.1 | 1.01 | 6.1m @ 1.01 g/t Au from 54.0m |
| BO-26-71 | 236.0 | 1.00 | 0.61 | 1.00m @ 0.61 g/t Au from 236.0m |
| BO-26-71 | 259.5 | 1.50 | 0.53 | 1.50m @ 0.53 g/t Au from 259.5m |
Key program parameters:
- Phase 3 comprised 5 diamond drill holes for a total of 1,428m
- All holes targeted the Paquin prospect, designed to test the strike orientation of mineralisation
- Mineralisation at Paquin remains open along strike, down dip, and down plunge
Understanding the Abitibi Greenstone Belt — why Bousquet’s address matters
The Abitibi Greenstone Belt, straddling the Ontario-Quebec border in Canada, is one of the world’s most productive gold-bearing geological terranes (ancient rock formations). It has produced more gold than almost any comparable geological region on Earth.
Running through its southern margin is the Cadillac Break, a major regional fault structure associated with more than 110 million ounces (Moz) of gold discovered along its length. Fault structures like the Cadillac Break act as conduits for gold-bearing hydrothermal fluids — essentially, they are the plumbing systems that deliver and concentrate gold into mineable deposits.
Bousquet sits on approximately 10km of a 28km stretch of the Southern Abitibi Greenstone Belt that hosts over 28 Moz Au. The project is located within 15km of two operating multi-million-ounce gold mines: Agnico Eagle’s La Ronde (15.8 Moz Au) and IAMGOLD’s Westwood (2.4 Moz Au). Proximity to operating mines signals geological continuity — the same mineralising systems that built those deposits extend into the broader district — and also indicates the presence of established regional infrastructure.
Two distinct mineralisation styles have been confirmed within the Bousquet Project:
- A structurally controlled 1.3km mineralised trend at Paquin/Amadee, associated with soft sediment deformation, which remains open approximately ~1.5km to the west along the conglomerate contact
- A 1.7km shear-hosted mineralised trend at Decoeur, associated with ultramafic units, which remains open approximately ~1km along strike
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Vast exploration upside with less than 20% of the project tested
Three drill programs have been completed since Olympio acquired the Bousquet project. Despite that activity, only approximately 20% of the Bousquet Project has been tested, leaving multiple high-priority targets untouched.
The picture across the key target areas is compelling. At Target Area A, approximately ~1.5km of untested conglomerate contact extends to the west of Amadee, following the same geological horizon that hosts mineralisation at Paquin. Target Area B sits in the approximately ~300m “gap” between the Paquin and Amadee prospects — an area that has seen minimal drilling since the 1940s and is considered highly probable to host continuous mineralisation. Target Area C addresses down-plunge potential at depth, informed by the structural offset between high-grade intercepts at Paquin and the main trend orientation.
Depth testing to date has been modest. Paquin has been drilled to only approximately ~157m vertical depth, and Amadee to just 85m vertical. At Decoeur, the broad gold intercept of 14.50m @ 1.96 g/t Au from 355.50m demonstrates the mineralising system extends to meaningful depth in that part of the project. The volume of ground that remains untested across all three target areas represents the investment case in plain terms.
The company’s planned next phase of drilling is aimed at:
- Progressing toward a potential maiden resource at Paquin
- Strike extension drilling to the west (Target Area B)
- Testing approximately ~1.5km of untested conglomerate contact (Target Area A)
- Advancing drilling approvals for preliminary testing across the broader project
Sean Delaney, Managing Director
“…We have a further 1.7km mineralised Decoeur trend to the south of the main conglomerate giving us further upside potential on what is likely to be one of the world’s best addresses for gold exploration.”
Earn-in structure and project ownership
Olympio has earned a 51% interest in the Bousquet Gold Project from Bullion Gold Resources by meeting exploration expenditure commitments and option payments. The remaining earn-in to 80% requires C$500k in option payments, C$250k in shares, and C$1m in expenditure over five years, with flexibility to accelerate those commitments. Bullion Gold Resources retains a 20% undivided interest (net carried interest) in the project.
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