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Olympio Metals Limited (ASX:OLY)

ALERT: Price-sensitive ASX Announcement for OLY
Current share price for OLY : $0.042 0.002 (5%)+
Announcement
Release
3 Aug 2026 8:28AM
Price at Release
$0.040
Full Release
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Summary
Olympio Metals Limited has reported promising initial assay results from its Phase 3 drilling program at the Bousquet Gold Project. The results include a significant high-grade gold intercept of 5.0 meters at 4.54 grams per ton, with a peak of 24.3 grams per ton over 0.75 meters. The focus of the drilling is on the Paquin prospect, aiming to test the strike orientation and enhance the geological model. Olympio has secured a 51% interest in the project, with plans to increase it to 80% through further financial commitments. The company is preparing to resume fieldwork to identify additional drilling targets.
Key Points
  • Olympio Metals Limited announced the first assay results from the Phase 3 drilling at Bousquet.
  • A high-grade gold intercept was recorded: 5.0m at 4.54 g/t Au from 171.0m including 0.75m at 24.3 g/t from 173.5m.
  • The Phase 3 drill program consisted of 5 diamond drill holes totaling 1,428m targeting the Paquin prospect.
  • The drilling aimed to test and establish lateral continuity along the strike orientation.
  • Olympio has earned a 51% interest in the Bousquet Gold Project with commitments for further option payments and expenditures to increase its stake to 80%.
  • Assays for the remaining four holes from the program are expected soon.
  • Fieldwork will recommence with a surface geochemical sampling campaign to generate further drilling targets.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.