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Olympio Metals Limited (ASX:OLY)

ALERT: Price-sensitive ASX Announcement for OLY
Current share price for OLY : $0.019 -0.019 (-50%)+
Announcement
Release
21 Sep 2026 8:30AM
Price at Release
$0.038
Full Release
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Summary
Olympio Metals Limited (ASX: OLY) announced that diamond drilling has commenced at its Jacknife Critical Minerals Project in Idaho, USA, marking the maiden modern drill program on the consolidated project and the first modern drilling in the Lakeview Mining District since 2012. The approximately 1,500 metre program is targeting high-grade silver mineralisation at the historical Conjecture Mine, testing vertical continuity between old underground workings, assessing a western strike extension of about 520 metres that could expand the Conjecture Shear Zone to roughly 1 kilometre of strike, and drilling other high-priority targets along the Conjecture and Weber shear zones. Olympio said Jacknife comprises 335 acres of patented mining claims enabling rapid drilling access, with Scout Discoveries Corp acting as in-country technical and operational partner. The project contains six historically significant mines with combined historical silver production of more than 3.2 million ounces and over 8 kilometres of underground workings, including a shaft exceeding 610 metres at Conjecture, across shear zones with about 7 kilometres of combined strike. The announcement also notes silver and antimony are on the 2025 USGS Critical Minerals List, while cautioning that referenced foreign estimates for Conjecture are historical, non-JORC and not yet verified as JORC-compliant resources, with the current drilling intended to help validate mineralisation and support future resource definition.
Key Points
  • Olympio has commenced diamond drilling at the Jacknife Critical Minerals Project in Idaho, USA.
  • The maiden drill program is approximately 1,500 metres and targets high-grade silver mineralisation at the historical Conjecture Mine.
  • Drilling will test vertical continuity between historical underground workings and the western extension of the Conjecture Shear Zone.
  • The company is seeking to define about 520 metres of additional strike that could extend the Conjecture Shear Zone to roughly 1 kilometre.
  • Additional high-priority targets along the Conjecture and Weber shear zones will also be tested.
  • Jacknife includes 335 acres of patented mining claims, which has allowed rapid advancement to drilling.
  • Scout Discoveries Corp is Olympio’s in-country technical and operational partner.
  • The project hosts six historically significant mines with combined historical production of more than 3.2 million ounces of silver.
  • Jacknife contains over 8 kilometres of underground workings, including a shaft deeper than 610 metres at the Conjecture Mine.
  • The project covers the Conjecture, Weber, Bellville and Hewer shear zones with around 7 kilometres of combined strike length.
  • Olympio noted that silver and antimony are included on the 2025 USGS Critical Minerals List.
  • The announcement cautions that the cited Conjecture foreign estimate is historical, non-JORC and has not yet been verified as a JORC-compliant resource.
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.