Olympio Metals Limited (ASX: OLY) has pegged a new area considered highly prospective for carbonatite hosted REE mineralization at Yanyarrie, immediately north of the company’s Eurelia Project, expanding Olympio’s land package in the region to 353km2.
The tenement application covers the northern extension of the G2 crustal corridor and contains an historical carbonatite occurrence. Olympio’s managing director, Sean Delaney, commented: “We have recently returned from a drilling campaign at Eurelia and eagerly await the assay results. The pegging of the new Yanyarrie tenement to the north complements Eurelia and Walloway to the south and gives Olympio commanding exposure over a region that we believe is highly prospective for numerous REE-enriched carbonatite bodies.”
In May, Olympio completed a maiden Air Core drilling program at the Eurelia Project, aimed at following up on an earlier trench resampling programme. 22 Air Core drillholes were completed in this programme, with the samples submitted to the laboratory for multi-element analyses.
The company expects that the results from this programme will be announced in late June, dependent on laboratory turnaround. The results of this programme will be used to develop an exploration plan for the next drilling campaign, which will also include the assessment of priority targets at Walloway.
To find out more, please visit www.olympiometals.com.au
