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Olympio to Resume Drilling at Bousquet Gold Project, Earns 51% interest
Montreal, Quebec--(Newsfile Corp. - May 27, 2026) - Bullion Gold Resources Corp. (TSXV: BGD) ("Bullion" or the "Company") is pleased to announce that optionee
About this update from Bullion Gold Resources Corp.
[{"type":"text","content":"\n Montreal, Quebec--(Newsfile Corp. - May 27, 2026) - Bullion Gold Resources Corp. (TSXV: BGD) (\"Bullion\" or the \"Company\") is pleased to announce that optionee Olympio Metals Limited (ASX: OLY) (\"Olympio\") is resuming drilling activities (Phase 3 drilling campaign) at the Bousquet Gold Project following completion of the requirements to earn an initial 51% interest in the project pursuant to the option agreement between the parties. The Bousquet Gold project is located on the prolific Cadillac Larder Lake Fault approximately 30 kilometers east of Rouyn-Noranda, Québec, and benefits from existing infrastructure and major Abitibi gold operations including LaRonde and Westwood.Key points of the news release:The Phase 3 drilling campaign will test the lateral extension of the bonanza intercept of 19.4 m grading 17.29 g/t Au from 172.5 m in the Main Lode system and subsequently test the down plunge extension;Field work includes a televiewer survey to confirm the structural links between holes; andOlympio reached the milestone required to earn 51% ownership of the Bousquet Gold Project.Plan view map of the Paquin and Amadee prospectsTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/10471/298980_d09b2f6a243368fb_002full.jpgSimon Britt, president and CEO: \"We welcome the continuation of exploration activities following outstanding results delivered from Olympio's Phase 2 drilling campaign on Bousquet. The 51% interest earn-in (Stage 1) was completed ahead of schedule and we fully expect they will earn the remaining 29% interest (Stage 2) ahead of the next 5 years milestone payments and required exploration expenditures.\"Olympio can earn an additional 29% interest (Stage 2) on the Bousquet Gold project (\"Bousquet\") over the next 5 years, through option payments and exploration expenditures totaling:C$500,000;C$250,000 worth of Olympio shares;C$1,000,000 in exploration expenditures on Bousquet; andThe agreement provides Olympio with flexibility to accelerate these commitments.If Stage 2 conditions are met by Olympio, a Joint Venture (\"JV2\") will be formed:Olympio's interest in the JV2 will be 80%;Olympio will sole fund Bullion's JV2 20% expenditures until initial production on Bousquet;Bullion's 20% interest is free carried until initial production on Bousquet; andOLY will retain...