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Staff Writer

Olympio Metals Limited (ASX:OLY) has obtained successful rockchip sampling results from the Wells-Lacourcière Prospect at the Cadillac Lithium Project in Canada.

Visual spodumene was identified in a number of pegmatite outcrops and rockchips have returned exceptionally high surface lithium grades up to 7.43% Li2O. The full suite of geochemical results also demonstrated that elevated lithium mineralisation within the Wells-Lacourcière pegmatite is strongly correlated with K/Rb ratios <30, which provides an excellent exploration tool for the numerous other prospective pegmatites observed throughout the Cadillac Project area.

Olympio has two field crews sampling the priority targets, fanning out from the known high-grade lithium areas to test for lithium prospectivity in order to generate new drilling targets. The sampling crews are using portable analysers (LIBS and XRF) to significantly speed up the exploration process, through in- field real-time assessment of lithium content and pathfinder elements.

Historical mapping and sampling completed by Vision Lithium in the south of the Cadillac Project further demonstrates the extent of the lithium prospectivity of the Project, with numerous mapped pegmatites demonstrating pegmatite fractionation via the potassium (K) over rubidium (Rb) ratios.

The Cadillac Project is located in the rapidly emerging Cadillac-Pontiac lithium camp, less than 100km from Canada’s only operating lithium mine in southwest Québec. First pass drilling at the Cadillac Lithium Project completed by Vision Lithium in 2022 intersected spodumene-bearing pegmatites with visible crystals in the drill core which correlated with high grades up to 3.14% Li2O, confirming the presence of significant lithium.

We are in a great position with the Cadillac Lithium Project in Quebec. We have high-grade lithium at the surface and are currently exploring 190 square kilometres of underexplored tenure, just a short drive from the town of Val-d’Or. We now have two field crews working simultaneously on the sampling of pegmatites, using LIBS and XRF for real time data to ensure that the best rock samples are selected for lab assays.” Managing Director, Sean Delaney, said.

“We are sampling priority targets, fanning out from the high-grade Wells-Lacourcière Prospect in this current program, however historical sampling results also demonstrate the potential of the southwest region of the project. Our plan is to generate as much data as possible in the current field season, with the aim of generating priority drill targets for the Quebec winter.”

Field Exploration Underway

Olympio has engaged Technominex and Explo-Logik as consultants to fully exploit the newly- recognised pathfinder association in the field. Field exploration is currently underway, utilising portable LIBS and XRF analysis to directly measure Li, K, Rb and numerous other pathfinder elements. This strategy will ensure a high rate of geochemical analyses, permitting in-field interpretation and flexibility to exploit anomalous trends as they emerge.

There are large swathes of the Cadillac Project that remain completely or largely unexplored for pegmatites and/or lithium, particularly around Wells-Lacourcière. Olympio is very optimistic that the accelerated exploration methodology, combined with the newly validated pathfinder vector (K/Rb), will generate new priority drilling targets for 2024.

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