Olympio Metals reported results from the first phase of air core drilling at the Walloway Prospect, targeting rare earth elements and niobium mineralisation in magmatic intrusives W2 and W6.

Assays indicate elevated REE levels, reaching up to 5,011ppm total rare earth oxides. Intercepts include 4m @ 1,000ppm TREO and 5m @ 1,357ppm TREO.

REE concentrations strongly correlate to magnetic susceptibility, supporting a magmatic origin for the mineralisation.

The drilling program confirmed carbonatites as the likely source. Further assays for 37 holes are pending, with results expected in 23 weeks.