Olympio 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’ (Dufay Option), 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 contains numerous historical showings of chalcopyrite-rich quartz veining, including the Chevrier working, 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.
Numerous high grade copper rock chips samples across many prospect locations within the tenure, including up to 7.66% Cu at the Papitose Prospect and up to 6.78% Cu at the Chevrier Prospect.
| Company | Sample | E NUTM17 | N NUTM17 | Prospect | Description | Cu % |
| Semeco | 108031 | 612092 | 5335389 | Chevrier | Main QzVn material with sulphides Cp | 6.78 |
| Semeco | 108023 | 612092 | 5335389 | Chevrier | Spedmen03 | 3.28 |
| Semeco | 108022 | 612092 | 5335389 | Chevrier | Specimen 02 | 1.52 |
| Olympio | DU05 | 614074 | 5333450 | GA | Qtz vein & schist pces | 2.44 |
| Lakeside | M740210 | 614871 | 5332238 | Papitose | quartz vein | 7.66 |
| Lakeside | L930773 | 614872 | 5332243 | Papitose | quartz vein | 4.68 |
| Olympio | DU03 | 615065 | 5332443 | Papitose | quartz vein | 3.18 |
| Olympio | DU02 | 614840 | 5332214 | Papitose | quartz vein | 2.05 |
| Lakeside | L930749 | 614945 | 5332313 | Papitose | quartz vein | 1.75 |
| Olympio | DU01 | 614955 | 5332425 | Papitose | quartz vein | 1.655 |
Dasserat IP Porphyry Target
There are numerous elongated exposures of syenite porphyry mapped in the Dufay Project. The Dufay Project syenite occurs < 4km south of the Renault Bay Syenite, which is directly associated with the >1.4 Moz Au-equivalent Galloway Project 4 km to the north (Fokus Minerals). An Induced Polarisation (IP) ground survey over the area was completed in 2011, and recorded a large (>1200m long), high conductivity anomaly typical of copper sulphide mineralization immediately adjacent to the syenite porphyry. Importantly, this compelling copper-gold target has never been drilled.
Exploration targeting and next steps
The Dufay Project consists of several priority drill ready targets, and permitting is currently underway for drilling at the following prospects:
- Dasserat Porphyry Gold-Copper IP Geophysical Target
- Chevrier Copper-Gold Quartz-Sulphide Prospect
- Papitose Copper-Gold Quartz-Sulphide Prospect
Further proposed exploration work to potentially identify new drill targets will include:
- A 40km2 detailed heli-magnetic survey over northern half of the project
- Further field mapping and rock chip sampling
- Ground IP and/or EM surveying of selected follow-up targets as required
- Data integration and interpretation to develop drill targets on the Cadillac Break
The detailed magnetic data will permit accurate interpretation of magnetic porphyry Au-Cu targets, which typically have a subtle magnetic response, together with crucial structural data.
The zone immediately south of the Cadillac Break in the Dufay area is very underexplored, and remains prospective for Au ± Cu mineralisation at depth. Detailed magnetics will assist the development of structural drill targets at depth.
