Olympio Metals Limited (ASX: OLY) (Olympio or the Company) is pleased to announce the first assay results from the Phase 2 drilling at the Paquin Prospect have returned bonanza gold grades.
Previously reported intervals of logged visible gold 1 had been prioritised for analyses and returned a bonanza gold intercept of 7.5m @ 41.81 g/t Au from 182m (BO-26-63). Assay results are still pending for the remainder of hole BO-26-63, along with those for the remaining 6 drill holes of the Phase 2 drill program.
Hole BO-26-63 was drilled at 3300 azimuth to test for high grade gold lodes that potentially run parallel to the previous drill-hole orientation of 2100. Veining in the gold mineralised zones indicate a complex array of vein orientations. The mineralisation is hosted on the margins and within fractures of sericite and chlorite altered dark quartz veining, within strongly deformed wacke sediments
Olympio's Managing Director, Sean Delaney, commented: 'We are excited to see this high-grade intercept at Paquin confirming the visual gold that was logged in the drill core. These first results from the second phase of drilling highlight the potential of the high-grade lodes, and are the best drill results for the Bousquet Project to date. We look forward to seeing the outstanding assays results for BO-26-63 and the other 6 holes of the program, due in the coming weeks.'
Contact:
Sean Delaney
Tel: +61 409 084 771
Email: sdelaney@olympiometals.com.au
Jason Mack
Tel: +61 400 643 799
Email: jason@whitenoisecomms.com
Forward Looking Statements
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However, forward looking statements are subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from future results expressed, projected or implied by such forward looking statements. Such risks include, but are not limited to exploration risk, Mineral Resource risk, metal price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks in the countries and states in which we sell our product to, and government regulation and judicial outcomes.
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