What major update did Olympio Metals (ASX:OLY) announce regarding its Canadian operations?

Olympio Metals has officially commenced its Phase 3 drilling program at the flagship Paquin Prospect, located within the Bousquet Gold Project in Quebec, Canada. This new phase consists of approximately 1,500 metres of diamond drilling.

Why is the Paquin Prospect drilling significant for Olympio Metals (ASX:OLY) shareholders?

The program follows up on an exceptional Phase 2 drill result that returned an intersection of 19.40 metres at 17.29g/t gold from a depth of 172.5 metres (hole BO-26-63).

How much of the Bousquet Gold Project does Olympio Metals (ASX:OLY) own?

Olympio Metals recently expanded its position by reaching a 51% ownership stake in the Bousquet Gold Project. This majority ownership gives the company greater control over the exploration strategy and the future development of the asset as drilling operations scale up.

What exploration data is Olympio Metals using to guide its Phase 3 drilling targets?

The strategy for the Phase 3 targets relies heavily on preliminary data collected from the project’s first down-hole televiewer survey, which covered 2,253 metres and was completed in May. Management is using this structural data to accurately map out subsurface features.

Image for illustrative purposes only. Not a real photo.

Olympio Metals commences Phase 3 drilling at Bousquet prospect

Q: Where is Olympio Metals’ Bousquet Gold Project located and why does the geography matter?

The project is located on the Cadillac Break in Quebec, Canada, a prolific regional structure associated with world-class gold mines that have historical production and resources exceeding 110 million ounces of gold.

Written by Brie CarterPublished Jun 9, 2026, 12:15 AM

Olympio Metals (ASX:OLY) commenced its Phase 3 drilling operations at its flagship Paquin prospect, situated within the Bousquet Gold Project in Quebec, Canada.

The latest phase comprises a 1,500-metre diamond drilling programme designed to target the lateral and down-dip extensions of a previously reported, high-grade bonanza intercept.

The high-grade lode previously returned an intersection of 19.40m at 17.29g/t gold from a depth of 172.5m in hole BO-26-63 during Phase 2.

The Bousquet Gold Project is located on the Cadillac Break, a major regional structure associated with world-class gold mines boasting historical production and resources exceeding 110 million ounces of gold.

The asset is located within 15km of several multi-million-ounce working gold operations, including Agnico Eagle’s La Ronde mine and Iamgold’s Westwood mine.

Olympio, which recently announced it has reached a 51% ownership stake in the project, intends for this programme to help define the true dimensions of the Paquin high-grade lode while testing the deeper potential of the mineralised system.

The strategy for the Phase 3 targets has been heavily informed by preliminary data extracted from the project’s first down-hole televiewer survey.

The survey was completed in May and covered 2,253m.

While the remaining structural data from the survey is currently being processed and interpreted, Olympio expects to receive and report the full results within the coming weeks as drilling progresses.

Olympio Metals commences Phase 3 drilling at Bousquet prospect

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