Olympio Metals Limited (ASX:OLY) has commenced its maiden drilling programme at the Eurelia Project in South Australia, targeting the areas that were re-sampled earlier this year. The resampling programme of historical trenches and rock chips returned up to 10,250ppm TREO and 819ppm Nb.
This initial first-pass programme will enable the company to gain a better understanding of the nature and potential scale of REE mineralization at this highly prospective project.
The Eurelia Project is located within the Adelaide Geosyncline in South Australia near the intersection of two regionally significant crustal structures and encompasses a large area prospective for carbonatite hosted REE mineralization.
The project area had previously been explored for diamonds and copper with very little focus on the REE prospectivity.
Olympio reassayed historical trench samples from the area and identified numerous zones consistently enriched in REE and Nb.
The only drillhole located within this trend (ORR-K7-AC01) returned a significant intersection of 9.0m @1,647ppm TREO from 7m2, confirming the potential for economic REE mineralization within the trend
“We are very excited about the rare earths and niobium potential of the Eurelia Project in South Australia and happy to have our first drilling programme underway this week,” Managing Director, Sean Delaney, said.
“The results from this drilling programme will give us a better understanding of the project potential and we look forward to getting assay numbers out to the market as soon as we can”
For further information please visit: https://olympiometals.com.au/
