Olympio bags high-grade US silver and antimony plays
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Murray Region
Olympio Metals has entered the US critical minerals scene strongly with the acquisition of a high-grade silver and copper project in Montana and an antimony work in Idaho; both of these have some eye-popping historical production figures.
The deal gives the company control of the Raven silver project and the Sawtooth antimony project, strengthening its Canadian gold and copper portfolio with a timely dose of critical mineral exposure as demand for strategic metals continues to grow.
Both silver and antimony are on the 2025 US Geological Survey List of Critical Minerals, supported by a major US$12 billion (AU$17.35 billion) government initiative to create a strategic mineral stockpile.
To complete both acquisitions from seller 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 producing high grade silver and copper.’
Olympio Metals managing director Sean Delaney
The headline-grabbing Raven is home to two historic mines, last operated in the mid-20th century. According to historical records, the Raven mine itself produced ore with an average grade of 2084 grams per tonne (g/t) of silver and a very high grade of 19.51 percent copper.
Nearby, the company’s historic Silver King mine produced ore averaging 996 g/t silver, 1.38 percent copper and 11.6 percent lead between the late 1800s and 1950.
Notably, neither mine has ever felt the touch of a modern drill bit, leaving the door wide open to new discoveries. This is a fast start for Olympio, which has been dormant for more than 70 years and is located in a jurisdiction that actively promotes domestic production of strategic metals.
Olympio Metals managing director Sean Delaney said: “The potential acquisition of two projects for silver, antimony and copper in the US diversifies Olympio’s presence in the critical minerals space. The Olympio team has completed due diligence and is excited about the geological possibility of the projects.”
Olympio plans to move things forward with the first on-site investigation of the Raven mine by conducting surface exploration campaigns to establish new drilling targets.
The Raven project consists of 27 mining claims just 15 kilometers from the town of Thompson Falls. Adding to its appeal is the presence of an operating silver-antimony smelter just 45km down the road, providing a potential route to production should Olympio find a commercial source.
The second leg of the company’s deal is the Sawtooth antimony project in Idaho, which includes 80 mineral claims at three mining sites near the historic Sawtooth City mining camp.
While historical reports note the presence of silver and antimony minerals, documentation is insufficient for modern resource reporting, indicating this was a more grassroots exploration play.
Although new US assets have made headlines recently, Olympio says it is keeping its foot on the gas on its promising Bousquet gold project in Quebec, Canada.
The project is strategically located along the famous Cadillac Break, a crustal-scale fault zone in the Abitibi Greenstone Belt that has historically been a conveyor belt for gold mines worth more than 100 million ounces.
This is a zip code where the company is already seeing big numbers. Drilling earlier this year produced some stunning results, including the grading of a 19.4-metre slice and an eye-catching 17.29 g/t gold. This hit included an outstanding 2m section yielding a bountiful 109.51g/t.
Olympio recently initiated phase three drilling at the field to follow up on these impressive figures, maintaining the project as a key plan in the company’s strategy.
But this latest move into the US appears to signal a clear intention to build a diversified North American portfolio and capitalize on the continent’s renewed focus on securing its own supply of critical minerals.
With plenty of historical degrees in the bag and boots now on the ground in its first-tier jurisdiction, Olympio looks determined to find out whether modern discoveries can transform these old-time studies into a new American critical minerals story.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
