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Olympio Metals (ASX: OLY) has confirmed historic high-grade gold at the Bousquet project in Canada with promising results from a preliminary soil sampling program.
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A total of 303 soil samples were collected during the maiden hand auger soil sampling campaign with material taken from the B horizon across 10 separate strips with a combined area of 1.6 sq. km.
Several samples returned high grade gold assays up to a peak of 0.58 g/t and the program has delineated several anomalies that require follow-up exploration.
MD, Sean Delaney, said that to highlight the potential anomalism the company has calculated the accumulative value of key pathfinder elements to known gold systems in the region.
The cumulative pathfinder results correlated well with the underlying intrusion and indicated a mechanical distribution that’s parallel to the glacial drift orientation, confirming that, despite the transported nature of the material and low -level anomalism, the soil sampling effectively identified the prospective tonalite
“We are excited to see the soils confirming the prospectivity of the T1 target being developed by the team. The broad scale gold results within the tonalite intrusion highlights that there is more to Bousquet than the historical prospects,” Mr Delaney said.
“The recent soils campaign has demonstrated that the method is a viable option for systematic exploration of some of these key target areas.
“The team will progressively rank and begin approval processes to ensure the company has a robust pipeline of prospective ‘drill ready’ exploration targets across Bousquet.”
The company is currently awaiting final approvals for the next phase of drilling at the Paquin prospect.
Olympio’s geology team is currently assessing and ranking the regional targets to prioritise for follow-up exploration and drilling.
OLY is up 5.08% to 6.2¢. Mkt cap $7.484M.
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