Olympio Metals Advances Exploration at High-Grade Chevrier Prospect in Quebec

3 min read | December 18, 2024 11:45 AM AEDT | By Team Kalkine Media

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Olympio Metals Advances Exploration at High-Grade Chevrier Prospect in Quebec — Image source: shutterstock

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Highlights

Olympio Metals (OLY) is preparing for a Fixed Loop Electromagnetic (FLEM) survey at its Chevrier Prospect in Quebec.

The survey aims to identify conductive sulphide concentrations for drilling in early 2025.

Chevrier features historic copper workings with high-grade chalcopyrite mineralisation.

Olympio Metals (ASX:OLY) has initiated preparations for a Fixed Loop Electromagnetic (FLEM) survey at the Chevrier Prospect, a high-grade copper target within the Dufay Project in Quebec, Canada. This survey will play a critical role in pinpointing sulphide-rich zones to guide drilling efforts planned for early 2025.

The Chevrier Prospect holds historical significance, featuring chalcopyrite-rich quartz veins mined briefly in the late 1920s. The area includes an adit and rock chip samples showing copper values of up to 6.78%. Strategically located just 1,300 metres from the Cadillac-Lake Larder Fault Zone (commonly referred to as the Cadillac Break), the project lies within a renowned mineralisation zone linked to world-class deposits of gold and copper.

Survey Preparation Underway

To prepare for the FLEM survey, line cutting has commenced at the site. TMC Geophysics, known for its previous work within the Dufay Project area, will conduct the survey in early January. This geophysical method is designed to detect conductive sulphides at depths greater than 200 metres. The results will aid in generating plate models that can define optimal drill targets for the upcoming program.

Unlocking Potential at Chevrier

Olympio Metals has highlighted the prospect's significant copper potential, with no prior geophysical or geochemical surveys conducted in the area. Sean Delaney, Managing Director of Olympio Metals, stated, “The Chevrier Prospect remains largely underexplored despite its historic significance. This will be the first detailed geophysical survey covering the area, helping to refine drill targets for January.”

Mineralisation at Chevrier consists of quartz-pyrite-chalcopyrite veining and breccias, with chalcopyrite-rich sulphides hosted in shale. The presence of intense potassic alteration in select zones suggests potential links to earlier porphyry systems.

Drilling Plans Set for Early 2025

Pending survey results and permits, Olympio Metals plans to drill four diamond holes at Chevrier, with the possibility of additional drilling based on findings. Planetary Geophysics will analyze the survey data, while Explo-logik, a Val D’Or-based consultancy, will oversee the drilling program.

The Dufay Project is located 35 kilometres from Rouyn-Noranda, a prominent mining hub in Quebec, enhancing its logistical advantages. The Chevrier Prospect marks a significant step forward in Olympio’s copper exploration strategy, with the potential to uncover new zones of mineralisation in the historic Cadillac Break region.

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