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Highlights
- Olympio Metals secures an option agreement for the Dufay Copper-Gold Project in Quebec.
- The project is located on the Cadillac Break, a renowned zone for copper and gold mineralisation.
- Exploration drilling is planned for January 2025.
Olympio Metals (ASX:OLY) has signed an option agreement to acquire an 80% interest in the Dufay Copper-Gold Project in Quebec, Canada. This project is situated on the Cadillac Break, a region recognized for its abundant mineral resources, including over 110 million ounces of gold.
Covering 60 square kilometres, the Dufay Copper-Gold Project boasts significant potential. It features 10 kilometres of strike and is strategically located 35 kilometres west of the Rouyn-Noranda mining centre, a hub known for its copper smelting capabilities. High-grade rock chip samples have been reported, with copper concentrations as high as 7.7%. Additionally, a 1.2-kilometre untested Induced Polarisation (IP) anomaly near a syenite porphyry highlights the area’s exploration prospects.
The Cadillac Break is home to world-class mineral deposits, and the Dufay project is no exception. Its proximity to resources like the 11-million-ounce Kerr-Addison gold deposit and the 1.4-million-ounce Galloway project underscores its strategic importance. Despite its promising potential, the site has been underexplored, with no drilling activities since the 1980s.
Olympio Metals’ managing director highlighted the project's promising geological features, emphasizing the likelihood of significant porphyry copper-gold mineralisation. Exploration activities, including drilling, are scheduled to commence in January 2025. This phase aims to assess the extent of mineralisation and uncover additional resources within the tenure.
The Dufay project benefits from well-established infrastructure, such as road and rail connectivity, ensuring seamless logistics for exploration and future operations. This acquisition not only strengthens Olympio’s portfolio but also provides the company with exposure to one of the world’s most productive mineralized structures.
This strategic addition aligns with Olympio Metals’ growth objectives, offering a cost-effective opportunity to enhance its presence in a region renowned for its mineral wealth. The company aims to leverage its expertise to unlock the potential of this underexplored property and contribute to its long-term resource development strategy.
With exploration drilling on the horizon, the project marks an exciting step forward for Olympio Metals, reinforcing its commitment to advancing resource projects in premium mining jurisdictions.
