Olympio is adding drill targets ahead of its maiden drill campaign at Cadillac. Pic via Getty Images.
Olympio Metals’ Abitibi Hub project in Québec has a new 1.3km pegmatite to add to its drill campaign
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- A 1.3km LCT pegmatite outcrop has been discovered at Cadillac
- The tenure is nestled 100km south of the prolific James Bay lithium precinct
- Field crews are on the ground mapping and drilling approvals submitted for a maiden drill program
Special Report: A large new lithium-caesium-tantalum (LCT) pegmatite along 1.3km of strike has been identified at Olympio Metals’ Cadillac project in Québec, Canada.
The Cadillac project is strategically located within Sayona Mining’s (ASX:SYA) Abitibi Hub in Québec, less than 100km from Canada’s only operating lithium mine and fellow ASX explorer Winsome Resources’ (ASX:WR1) Decelles project at the southern end of James Bay, Canada’s burgeoning lithium district.
First-pass drilling completed by Vision Lithium in 2022 intersected spodumene-bearing LCT pegmatites with visible crystals in the drill core that showed high grades of up to 3.14% Li2O.
Olympio Metals (ASX:OLY) is looking to prove up a sizeable cache of lithium at the tenure and has already been encouraged by Phase 2 exploration where rock chips confirmed high-grade lithium of up to 7.43% Li2O at surface.
“Location, location, location remains the key for Olympio and the Cadillac project” managing director Sean Delaney told Stockhead on Thursday.
“Having a lithium exploration asset just 50 kilometres from Val d’Or is a massive advantage particularly when you consider future development prospects.
“Infrastructure is already in place, while costs to explore there are a lot lower given the proximity of local drillers.
“Given that previous drilling intersected visible spodumene crystals within the Cadillac system, we firmly believe we’re in the best place to look right now.”
A large new LCT pegmatite trend has been mapped along 1.3km of strike at an average mapped width of >50m, confirming a “significant scale of the target”.
On top of this, a number of large-scale pegmatites in the Dyke M zone have been identified as priority targets for an upcoming drilling campaign.
At Dykes M1-M6, OLY has discovered a series of large-scale pegmatites southeast of the Wells-Lacourciere spodumene-bearing dykes that are up to 400m long and 70m wide, providing another large target area.
Dykes F, G and H show strong fractionated pegmatite trends with a potassium-to-rubidium (K/Rb) ratio of <30 – consistent with the established theory of containing fertile lithium.
Next movements
Exploration contractors Explo-logik have returned to the field for a Phase 3 exploration program and crews are utilising portable XRF and LIBS analysers to conduct sampling to help speed up the exploration process and exploit geochemical trends.
The team has also started the approvals process for Olympio’s first drilling program of priority targets, scheduled to commence in the upcoming Quebec winter.
“Our exploration teams have used the XRF and LIBS analysers in the field to great effect,” Delaney continued.
“I visited the Cadillac project last week and inspected a number of the targets in the field, including Dyke Z, with the Explo-Logik field team and experienced Canadian geologist Jean Lafleur.
“It was great to see first-hand the scale of the targets, especially Dyke Z, which is a very large, raised topographic feature, largely covered in moss and vegetation.
“These targets are all close to the known spodumene occurrences at Wells-Lacourcière which provides confidence that we are in the right area.”
This article was developed in collaboration with Olympio Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
