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Highlights
Olympio Metals confirms placement to support drilling at Bousquet Gold Project
Visible gold intersected in first drillhole drives continued exploration
Additional funds to be allocated toward Dufay Copper-Gold Project in Québec
Gold exploration company Olympio Metals Ltd (ASX:OLY), listed on the ASX 200, has confirmed a capital raise to accelerate exploration efforts at its Bousquet Gold Project in Québec, Canada. The funding comes after the company identified visible gold in its first drillhole under the current diamond drilling campaign.
The placement will allow Olympio to expand its exploration program, which includes a ten-thousand metre diamond drilling initiative targeting key gold-bearing zones. The company noted that shares for the raise are expected to be issued in early July, with a portion of the funding also to be contributed by its board of directors, pending shareholder approval later this quarter.
Visible Gold Discovery Reinforces Strategic Location
Olympio’s Managing Director highlighted the strategic location of the Bousquet Gold Project, surrounded by multi-million-ounce deposits and in proximity to two operational processing plants. The early-stage discovery of visible gold has reinforced the project's significance within the region, which is known for hosting some of the most prolific gold belts in North America.
Located in western Québec, the site has drawn industry attention due to its geological continuity with established gold corridors. The company is anticipating the return of initial assay results soon, following the completion of ongoing drilling activities.
New Securities Issued to Drive Advisory and Exploration Capacity
As part of the financing structure, Olympio Metals plans to issue new securities to key advisors. These include options priced at a premium to the placement price, with a multi-year expiry window. This step aims to align external support with the company’s ongoing growth initiatives and regional commitments.
This capital initiative follows a pattern seen among exploration companies actively seeking to strengthen their treasury positions in support of aggressive drilling schedules and resource delineation in underexplored but highly prospective zones.
Further Development Planned at Dufay Copper-Gold Site
In addition to Bousquet, a portion of the funds will also be used to advance exploration at Olympio’s Dufay Copper-Gold Project, also located in Québec. Both projects fall under the company’s broader critical minerals strategy spanning assets across Canada and Australia.
Olympio currently retains an option to acquire majority interests in both Bousquet and Dufay from Bullion Gold Resources (TSX-V:BGD), supporting a dual commodity and dual jurisdiction development model that aligns with evolving resource trends.
