Olympio Metals Ltd (ASX:OLY, OTC:COPGF) has started fieldwork at Cadillac Lithium Project in the rapidly emerging Cadillac-Pontiac lithium camp and less than 60 kilometres from Canada’s only operating lithium mine in southwest Québec.
The program plans to expand sampling coverage well beyond the Wells-Lacourcière spodumene pegmatite prospect, particularly along the identified east-west structural corridor.
Diamond drilling at the Wells-Lacourcière spodumene-bearing lithium-caesium-tantalum (LCT) pegmatite in 2022 confirmed the presence of significant lithium values over the known length of the pegmatite dyke as observed on surface, including grades of up to 3.14% lithium oxide.
Portable XRF and LIBS analysers will be employed in the field to fast-track the location of highly fractionated pegmatites suitable for detailed exploration and drill targeting. Recent drilling has confirmed the K/Rb index as a reliable indicator of pegmatite fertility.
Expanding on fieldwork
Olympio managing director Sean Delaney said: “This spring field season will see Olympio significantly expanding on the fieldwork we commenced in the Canadian Fall last year.
“We have a combined Canadian and Australian exploration team in the field now equipped with portable XRF and LIBS to allow rapid delineation of more highly fractionated pegmatites.”
The Cadillac Lithium Project is a significant land package of 190 square kilometres in a great location and Olympio is well funded to continue to generate drill targets over the coming months.”
Olympio confirms it is well funded for exploration work with A$2.8 million cash in the bank at the end of the March 2024 quarter.
Cadillac Lithium Project location in the Abitibi/Pontiac Region (1VD Aeromagnetics backdrop).