{"id":12381,"date":"2024-11-19T00:52:09","date_gmt":"2024-11-19T00:52:09","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/19\/olympio-to-acquire-canadian-copper-gold-project-on-prolific-cadillac-break\/"},"modified":"2024-11-19T00:52:09","modified_gmt":"2024-11-19T00:52:09","slug":"olympio-to-acquire-canadian-copper-gold-project-on-prolific-cadillac-break","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/11\/19\/olympio-to-acquire-canadian-copper-gold-project-on-prolific-cadillac-break\/","title":{"rendered":"Olympio to Acquire Canadian Copper-Gold Project on Prolific Cadillac Break"},"content":{"rendered":"<\/p>\n<p><strong>Olympio Metals Limited<\/strong> (ASX:OLY) (Olympio or the Company) is pleased to announce that it 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 \u2018Cadillac Break\u2019 (Dufay Option), in Canada. <\/p>\n<p><strong>Highlights<\/strong><\/p>\n<p>Option to acquire 80% of the Dufay Copper-Gold Project from private vendors<br \/>\nOutcropping copper sulphides with numerous high grade rockchips up to 7.7% Cu<br \/>\n60km2 of tenure, covering 10km of strike of the Cadillac Break<br \/>\nExcellent road and rail infrastructure with year round access<br \/>\nUntested high priority IP anomaly (&gt;1.2km) adjacent to syenite porphyry<br \/>\nUnderexplored property with no drilling since the 1980s<br \/>\nDrilling approvals underway with drilling planned for January 2025<br \/>\nOption represents a low cost strategic addition for Olympio <\/p>\n<div><strong>Olympio\u2019s Managing Director, Sean Delaney, commented:<\/strong><\/div>\n<p><em>\u201cThe Dufay Project offers Olympio significant strike exposure to one of the world\u2019s 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.<\/em><\/p>\n<p><em>\u201cThe 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.\u201d <\/em><\/p>\n<p>This terrane bounding structure is associated with world class endowments of VMS and orogenic gold and copper mineralisation1. The Project is located 35km west of the Rouyn-Noranda mining centre and copper smelter in southwest Qu\u00e9bec (Figure 3 and Figure 4). <\/p>\n<p>The Dufay Project contains numerous historical showings of chalcopyrite-rich quartz veining, including the Chevrier working (refer Figure 1 and Figure 2), which was mined briefly in the late 1920s. There has been limited drilling on the Property, with the majority of holes drilled pre-1945 and no drilling for the last 36 years.<\/p>\n<p>Numerous high grade copper rock chips samples across many prospect locations within the tenure, including up to 7.66% at the Papitose Prospect and up to 6.78% at the Chevrier Prospect (Figure 1, Table 1). <\/p>\n<p>There are numerous elongated exposures of syenite porphyry mapped in the Dufay Project (Figure 1). The Dufay Project syenite occurs &lt;4km south of the Renault Bay Syenite, which is directly associated with the &gt;1.4 Moz Au-equivalent Galloway Project 4km to the north3 (Fokus Minerals) (Figure 2). An Induced Polarisation (IP) ground survey over the area was completed in 201<a target=\"_blank\"><\/a>14, and recorded a large (&gt;1200m long), high conductivity anomaly typical of copper sulphide mineralization immediately adjacent to the syenite porphyry. Importantly, this compelling copper target has never been drilled.<\/p>\n<p>The extensive IP anomaly, the Chevrier Prospect and the Papitose Prospect are immediate priority drill targets with the approvals process already underway for drilling planned to start in January 2025. <\/p>\n<p><strong>TECHNICAL INFORMATION <\/strong><\/p>\n<p>The Dufay Copper-Gold Project is located immediately south of the Cadillac-Lake Larder Fault Zone, or the Cadillac Break, a major crustal discontinuity separating the Archean Abitibi Greenstone sub-province to the north from the Pontiac sub-province to the south.<\/p>\n<p>The gold endowment of the orogenic deposits located along the Cadillac Break totals approximately 111 Moz1. Multiple &gt;1Moz gold projects occur within 5km of the Dufay Project , including Kerr-Addison (11 Moz2) and the recently increased Galloway Au-Cu mineral resource (Fokus Minerals, &gt;1.4 Moz Au-equivalent3) (Refer Figure 2 and Figure 3). The Pontiac Sub-Province sediments host numerous gold mineral resources peripheral to the Cadillac Break, including the nearby Granada mineral resource (&gt;1.0Moz)6 and the &gt;10Moz Malartic deposit7.<\/p>\n<p>The Cadillac Break is also linked to the Noranda Volcanic Complex, which hosts numerous VMS deposits (Cu-Au-Zn-Ag) including the Horne deposit (&gt;1Mt Cu, 0.5Mt Ag, 9Moz Au production8; Refer Figure 3).<\/p>\n<p>The Project is highly prospective for porphyry Au-Cu mineralisation and shear-hosted quartz- carbonate-pyrite lode gold mineralisation. The nearby Galloway gold deposit (&lt;4 km to the north, Fokus Minerals) is strongly associated with a syenite intrusive, similar to those mapped within the Dufay tenure.<\/p>\n<p>Dufay hosts numerous quartz vein-sulphide hosted copper-gold-silver prospects with strike extents to hundreds of metres. The Archaean host geology includes a wide variety of rock types, including metasediments, ultramafic talc-chlorite schists, porphyry\/syenite, felsic to intermediate intrusives and gneisses, and Proterozoic dolerite dykes. Disseminated chalcopyrite mineralisation is widespread in selected areas examined by Olympio to-date, suggestive of a large pervasive mineralising system. <\/p>\n<\/p>\n<p><strong>Click here for the full ASX Release<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Olympio Metals Limited (ASX:OLY) (Olympio or the Company) is pleased to announce that it 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 \u2018Cadillac Break\u2019 (Dufay Option), in Canada. Highlights Option to acquire 80% of the Dufay Copper-Gold Project from private [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":12382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-12381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12381","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=12381"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/12381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/12382"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=12381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=12381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=12381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}