Olympio Metals (ASX: $OLY) drilling update

Olympio Metals Limited (ASX: $OLY) has announced the successful completion of diamond drilling at the Cadillac Lithium Project in Quebec. The drilling intersected up to 2.3% Li20 associated with spodumene mineralisation, confirming high-grade lithium mineralisation at the project. The company's Managing Director, Sean Delaney, expressed satisfaction with the results and outlined plans for the upcoming field season.

Executive commentary on drilling results

Olympio's Managing Director, Sean Delaney, highlighted the valuable technical information obtained from the drilling program, guiding the company's field work for the upcoming summer season. The successful fundraising of $1.1m has provided the necessary funding to continue lithium exploration at the Cadillac Project in Quebec. Delaney expressed optimism about the promising targets and the company's readiness to resume ground operations in the next few weeks.

Summary of drilling results and future plans

The recent diamond drilling at the Cadillac Lithium Project has confirmed high-grade lithium mineralisation, with grades up to 2.3% Li20 returned from Dyke B. The results have provided critical confirmation of the K/Rb index as a robust discriminator for fractionated, spodumene-bearing pegmatites at Cadillac. Olympio Metals is well-funded to continue exploration and has identified multiple high priority pegmatite targets for follow-up in the upcoming field season. The company plans to utilize the K/Rb index systematically through field exploration and aims to commence exploration in May 2024. The successful drilling results and the company's strategic funding position bode well for its future exploration and development endeavors at the Cadillac Lithium Project.