Brought to you by BULLS N’ BEARS
Murray Ward
Olympio Metals has muscled its way into the US critical minerals scene, completing the acquisition of a high-grade silver and copper project in Montana and an antimony play in Idaho, both of which come with some eye-watering historical production numbers.
The deal hands the company control of the Raven silver project and the Sawtooth antimony project, bolstering its Canadian gold and copper portfolio with a timely dose of critical minerals exposure as demand for strategic metals continues to surge.
Both silver and antimony are on the 2025 US Geological Survey’s Critical Minerals List, which is backed by a hefty US$ 12 billion (A$17.35 billion) government initiative to build a strategic mineral stockpile.
To finalise both acquisitions from vendor Lia Energy Holdings, Olympio will issue 12.5 million shares, a deal approved by its backers in May.
‘Both the Raven and Silver King mines have a history of high-grade silver and copper production.’
Olympio Metals managing director Sean Delaney
As the headline grabber, Raven hosts two historic mines last worked in the mid-20th century. According to historical records, the Raven mine itself churned out ore at an average grade of a whopping 2084 grams per tonne (g/t) silver and 19.51 per cent copper.
Nearby, the company’s historic Silver King mine produced ore averaging 996g/t silver, 1.38 per cent copper and 11.6 per cent lead between the late 1800’s and 1950.
Notably, neither mine has felt the touch of a modern drill bit, leaving the door wide open for new discoveries. It’s a walk-up start for Olympio on ground that has effectively been sitting idle for more than 70 years and in a jurisdiction that actively encourages domestic production of strategic metals.
Olympio Metals managing director Sean Delaney said: “Acquiring two projects in the USA prospective for silver, antimony and copper diversifies Olympio’s exposure into the critical minerals space. The Olympio team have completed due diligence and is excited about the geological prospectivity of the projects.”
Olympio plans to get the ball rolling with an initial boots-on-the-ground investigation of the Raven mine, conducting surface exploration campaigns to generate new drilling targets.
The Raven project consists of 27 mineral claims just 15 kilometres from the town of Thompson Falls. Adding to its appeal is the presence of an operational silver-antimony smelter just 45km down the road, providing a potential pathway to production should Olympio prove up a commercial resource.
The second leg of the company’s deal is the Sawtooth antimony project in Idaho, which comprises 80 mineral claims across three prospects near the historic Sawtooth City mining camp.
Whilst historical reports note the presence of silver and antimony minerals, the documentation is insufficient for modern resource reporting, marking it as a more grassroots exploration play.
Whilst its new US assets may have recently grabbed the headlines, Olympio says it’s not taking its foot off the gas at the promising Bousquet gold project in Quebec, Canada.
The project is strategically positioned along the famed Cadillac Break, a crustal-scale fault zone in the Abitibi Greenstone Belt that has been a conveyor belt for gold mines, delivering more than 100 million ounces over its history.
It’s a postcode the company has already seen big numbers from. Drilling earlier this year delivered some stunning results, including a 19.4-metre slice grading an eye catching 17.29g/t gold. The hit included an extraordinary 2-metre section at a bonanza grade of 109.51g/t.
Olympio recently kicked off phase three drilling at site to follow up on those impressive numbers, maintaining the project as a key plank in the company’s strategy.
This latest move into the US, however, appears to signal a clear intent to build a diversified North American portfolio and capitalise on the continent’s renewed focus on securing its own supply of critical minerals.
With bonanza historical grades in the bag and boots now on the ground in a tier-one jurisdiction, Olympio looks set to find out whether modern exploration can turn these old-timer workings into a new American critical minerals story.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
From our partners
About the Author
