Olympio Metals Ltd (ASX:OLY, OTC:COPGF) advises that its diamond drilling program is well advanced and progressing ahead of schedule at the Cadillac Lithium Project in Quebec, with 22 holes completed to date on four separate pegmatite targets and significant pegmatite intersections drilled at each.
The 3,000 metre drill program will test several of the more than 400 pegmatite targets across the 190-square kilometre project area.
All drillholes logged to date on the 1.3-kilometre long Z-Dyke1 target have intersected pegmatites, while core cutting and sampling is now underway with first assays expected by the end of March.
The current diamond drilling is testing multiple targets, as can be seen here:
Cadillac priority lithium drill targets.
Significant widths of pegmatite intersected
Olympio managing director Sean Delaney said: “The diamond drilling has been progressing very well and is ahead of schedule at our Cadillac Lithium Project. Significant widths of pegmatite have been consistently intersected across multiple targets.
“The drill core has been transported to our nearby exploration base at Val D’Or where it is currently being logged. We look forward to keeping the market updated as we sample and assay the core.”
High grade lithium reported in past drilling
First pass drilling at the project was conducted by Vision Lithium in 2022, before Olympio acquired the Cadillac project last August.
That drilling intersected spodumene-bearing lithium-caesium-tantalum (LCT) pegmatites with visible spodumene crystals in the drill core. High grades up to 3.14% lithium oxide were returned, confirming the presence of significant lithium and warranting follow-up drilling.
The project remains very underexplored beyond the historic Wells-Lacourcière lithium prospect.
Cadillac lithium project
The Cadillac lithium project is strategically located between Sayona Mining’s Authier and Tansim Projects, within Sayona’s Abitibi Hub, which hosts Canada’s only operating lithium mine. Cadillac also adjoins Winsome Resources’ Decelles Project.
Previous exploration on the project by Vision has demonstrated the potential for the project to be highly prospective for bulk tonnage spodumene mineralisation.
Recent analysis of LIDAR and aeromagnetic data has interpreted a large number of pegmatite dykes, many of which remain to be field checked.
The project is only a short distance from Val D’Or, a major mining centre hosting available core cutting and laboratory facilities.
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