Olympio Metals Restricted (ASX:OLY) (Olympio or the Firm) is happy to announce that it has signed an choice to amass 80% of the extremely potential Dufay Cu-Au Venture on the Cadillac-Lake Larder Fault Zone, referred to as the ‘Cadillac Break’ (Dufay Choice), in Canada.
Highlights
- Choice to amass 80% of the Dufay Copper-Gold Venture from non-public distributors
- Positioned on the Cadillac Break, a regional construction related to world class gold and copper mineralisation (>110 Moz Au1)
- Outcropping copper sulphides with quite a few excessive grade rockchips as much as 7.7% Cu
- 60km2 of tenure, overlaying 10km of strike of the Cadillac Break
- A number of giant Au-Cu mineral assets inside 5km (Kerr-Addison2 >11Moz, Galloway3 >1.4 Moz)
- 35km west of world class Rouyn-Noranda Cu-Au province (VMS) and Horne Copper Smelter (Glencore)
- Wonderful highway and rail infrastructure with yr spherical entry
- Untested excessive precedence IP anomaly (>1.2km) adjoining to syenite porphyry
- Underexplored property with no drilling because the Eighties
- Drilling approvals underway with drilling deliberate for January 2025
- Choice represents a low price strategic addition for Olympio
Olympio’s Managing Director, Sean Delaney, commented:
“The Dufay Venture provides Olympio important strike publicity to one of many world’s premier mineralised constructions, the famed Cadillac Break. The Venture provides a spread of underexplored exploration targets, together with high-grade copper showings which have by no means been drilled and compelling porphyry Cu-Au geophysical targets that stay untested.
“The Venture is adjoining to quite a few giant gold-copper mineral assets, with a serious freeway by means of the venture on to the Rouyn-Noranda copper smelter 35km to the east. The Venture has important potential to host porphyry Cu-Au mineralisation, with exploration drilling deliberate to start throughout the upcoming Canadian winter discipline season.”
This terrane bounding construction is related to world class endowments of VMS and orogenic gold and copper mineralisation1. The Venture is situated 35km west of the Rouyn-Noranda mining centre and copper smelter in southwest Québec (Determine 3 and Determine 4).
Determine 1 Rock chip sampling and IP geophysical survey over 1VD regional magnetics
The Dufay Venture comprises quite a few historic showings of chalcopyrite-rich quartz veining, together with the Chevrier working (refer Determine 1 and Determine 2), which was mined briefly within the late Nineteen Twenties. There was restricted drilling on the Property, with the vast majority of holes drilled pre-1945 and no drilling for the final 36 years.
Quite a few excessive grade copper rock chips samples throughout many prospect areas throughout the tenure, together with as much as 7.66% on the Papitose Prospect and as much as 6.78% on the Chevrier Prospect (Determine 1, Desk 1).
Desk 1 Copper outcomes of chosen rock chip samples (See Desk 2 connected for full abstract of sampling)
There are quite a few elongated exposures of syenite porphyry mapped within the Dufay Venture (Determine 1). The Dufay Venture syenite happens 1.4 Moz Au-equivalent Galloway Venture 4km to the north3 (Fokus Minerals) (Determine 2). An Induced Polarisation (IP) floor survey over the realm was accomplished in 20114, and recorded a big (>1200m lengthy), excessive conductivity anomaly typical of copper sulphide mineralization instantly adjoining to the syenite porphyry. Importantly, this compelling copper goal has by no means been drilled.
The intensive IP anomaly, the Chevrier Prospect and the Papitose Prospect are rapid precedence drill targets with the approvals course of already underway for drilling deliberate to begin in January 2025.
Determine 2 Dufay Venture native mineralisation context. Hendricks drill intercept supply5
Determine 3 Copper and Gold mineralisation alongside the Cadillac Break, southern Abitibi Sub-Province
Determine 4 Dufay Venture Location
TECHNICAL INFORMATION
The Dufay Copper-Gold Venture is situated instantly south of the Cadillac-Lake Larder Fault Zone, or the Cadillac Break, a serious crustal discontinuity separating the Archean Abitibi Greenstone sub-province to the north from the Pontiac sub-province to the south.
The gold endowment of the orogenic deposits situated alongside the Cadillac Break totals roughly 111 Moz1. A number of >1Moz gold initiatives happen inside 5km of the Dufay Venture , together with Kerr-Addison (11 Moz2) and the just lately elevated Galloway Au-Cu mineral useful resource (Fokus Minerals, >1.4 Moz Au-equivalent3) (Refer Determine 2 and Determine 3). The Pontiac Sub-Province sediments host quite a few gold mineral assets peripheral to the Cadillac Break, together with the close by Granada mineral useful resource (>1.0Moz)6 and the >10Moz Malartic deposit7.
The Cadillac Break can be linked to the Noranda Volcanic Complicated, which hosts quite a few VMS deposits (Cu-Au-Zn-Ag) together with the Horne deposit (>1Mt Cu, 0.5Mt Ag, 9Moz Au manufacturing8; Refer Determine 3).
The Venture is very potential for porphyry Au-Cu mineralisation and shear-hosted quartz- carbonate-pyrite lode gold mineralisation. The close by Galloway gold deposit (
Dufay hosts quite a few quartz vein-sulphide hosted copper-gold-silver prospects with strike extents to tons of of metres. The Archaean host geology contains all kinds of rock varieties, together with metasediments, ultramafic talc-chlorite schists, porphyry/syenite, felsic to intermediate intrusives and gneisses, and Proterozoic dolerite dykes. Disseminated chalcopyrite mineralisation is widespread in chosen areas examined by Olympio to-date, suggestive of a giant pervasive mineralising system.
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