Olympio has an option to acquire up to 80% of the Bousquet Gold Project (Bousquet Option), an advanced high-grade gold project on the Cadillac-Lake Larder Fault Zone, known as the Cadillac Break, in Quebec, Canada (Figure 1). On 11 May 2026 the company announced it had reached the 51% milestone and has a remaining C$500k option payment, C$250k worth of shares and $1m expenditure over the remaining five years of the option agreement.

The Cadillac Break is a terrane-bounding structure, associated with world-class orogenic gold and copper mineralisation. The Bousquet Project is located 30km east of the Rouyn-Noranda Au-Cu mining centre (Horne and Granada mines) and 15km west of the Bousquet Mining Camp, which includes the >15Moz Au La Ronde and 2.4Moz Au Westwood working mines (Figure 2). A major highway, railway and hydroelectric power all traverse the centre of the project.

The Bousquet Gold Project is a strategic land acquisition along the renowned Cadillac Break. The southern half of the project covers a well-defined, regionally mineralised zone to the south of the Cadillac Break (Figure 3), which hosts numerous gold prospects within Timiskaming Group sediments and possible Piché Complex greenstones, host to lithologies highly correlated with gold mineralisation on the Cadillac Break.

The Bousquet Gold Project includes four advanced gold prospects and a robust pipeline of targets. Olympio Metals has completed over 8,000m of diamond drilling in the south of the Bousquet Project. Numerous visible gold intersections and well over 100 significant intercepts have been recorded in modern and historical drilling across the project (Figure 4).

Paquin Prospect

Paquin is the flagship prospect. It has produced numerous high-grade gold intercepts including:

  • 19.40m @ 17.29 g/t Au from 172.5m (BO-26-63)
  • 9.0m @ 16.97 g/t Au from 178.5m (BO-21-08)
  • 7.9m @ 6.20 g/t Au from 138.0m (BO-25-28)
  • 6.4m @ 6.54 g/t Au from 183.0m (BO-25-27)

The Paquin prospect sits on the contact between the Piché Complex greenstones and the Timiskaming Group sediments (Figure 7). Gold mineralisation is associated with quartz-chlorite-sericite altered structures and has a strong correlation to sulphides. The company has focused on developing a structural understanding for the orientation of the high-grade gold lodes.

Further drill testing has focused on these key structures to a vertical depth of ~150m. The contact of the Timiskaming Group and Piché Complex projects down to the historical ‘Paquin Deeps’ target at 432 vertical metres. Mineralisation is open between Paquin, Paquin Deeps and beyond (Figure 7).

The Amadee target is a strike extension of the Paquin Prospect to the west. Olympio has drilled just over 900m of diamond drilling and proven the gold mineralisation on the contact between the Piché Complex greenstones and the Timiskaming Group sediments extends over 1.3km and is open in both direction and at depth (Figure 6).

Significant intercepts at the Amadee Target include:

  • 4.50m @ 3.29 g/t Au from 5.65m (BO-25-38)
  • 4.55m @ 1.71 g/t Au from 49.30m (BO-25-33)
  • 10.70m @ 0.69 g/t Au from 67.80m (BO-25-35)

Decoeur Prospect

The southern prospects (Decoeur and Joannes) occur on a structure associated with ultramafic rocks (defined from drilling) and possibly correlate to Piché Structural Complex greenstones. Gold mineralisation across the Cadillac Break is strongly associated with Piché Structural Complex greenstones, and the southern structure at Bousquet may represent a previously unrecognised structural repetition or splay of the Cadillac Break (Figure 8).

Olympio has completed just over 900m of diamond drilling at the Decoeur Prospect and has seen the strike extent of mineralisation extend to 1.7km and BO-25-40 established a broad zone of mineralisation at depth, with 14.50m @ 1.96 g/t Au from 355.5m.

Significant intercepts at the Decoeur Prospect include:

  • 14.50m @ 1.96 g/t Au from 355.5m (BO-25-40)
  • 7.10m @ 1.43g/t Au from 47.1m (BO-25-51)
  • 3.75m @ 2.24g/t Au from (BO-25-39)

Target Pipeline

The company has identified several greenfields exploration targets throughout the Bousquet Project. These targets have been identified from regional geophysics, historical data compilation and the geological understanding that has been developed from the exploration conducted in the Bousquet South area to date. These target areas are awaiting statutory approvals before the company conducts preliminary drill testing (Figure 9).