Olympio Metals (ASX:OLY) has signed an option to acquire 80% of the highly prospective Dufay Cu-Au Project on the Cadillac-Lake Larder Fault Zone, known as the ‘Cadillac Break’ in Canada.
This terrane bounding structure is associated with world class endowments of VMS and orogenic gold and copper mineralisation. The Project is located 35km west of the Rouyn-Noranda mining centre and copper smelter in southwest Québec.
“The Dufay Project offers Olympio significant strike exposure to one of the world’s premier mineralised structures, the famed Cadillac Break. The Project offers a range of underexplored exploration targets, including high-grade copper showings that have never been drilled and compelling porphyry Cu-Au geophysical targets that remain untested,” Managing Director, Sean Delaney, said.
“The project is adjacent to numerous large gold-copper mineral resources, with a major highway through the project directly to the Rouyn-Noranda copper smelter 35km to the east.
“The project has significant potential to host porphyry Cu-Au mineralisation, with exploration drilling planned to commence during the upcoming Canadian winter field season.”
Olympio has elected not to exercise the option over the Cadillac Lithium Project in Quebec and therefore will not be making the final payment to Vision Lithium Inc. The company made the decision based on the significant downturn in sentiment of the lithium exploration industry.
