Olympio Metals to acquire US silver and antimony projects

Olympio Metals has agreed to afloat get the Raven Silver Project successful Montana and the Sawtooth Antimony Project successful Idaho from Lia Energy.

The 2 parties person signed a binding enactment agreement.

Both projects are noted for their silver, antimony and copper potential, which includes high-grade humanities accumulation astatine the Raven project.

No modern exploration oregon drilling has been carried retired astatine either site, indicating important opportunities for further development, said Olympio Metals, an Australia-based exploration company.

The Raven Silver Project comprises 27 mineral claims lodging 2 historically important mines, Raven and Silver King. The task is located wrong the Thompson River mining district.

Historically, these sites person shown precocious mean grades of up to 2,084 grams per tonne (g/t) metallic and 19.51% copper astatine the Raven mine, and 996g/t metallic astatine the Silver King mine.

Located adjacent infrastructure specified arsenic an operational smelter successful Thompson Falls, 45km west, the task provides a viable pathway to production, said Olympio Metals.

In Idaho, the Sawtooth Antimony Project consists of 5 silver-antimony prospects adjacent the Sawtooth City mining campy but lacks broad modern sampling records.

The US Geological Survey included antimony and metallic connected its 2025 Critical Minerals List, underpinning the US Government’s $12bn strategical mineral stockpile plan.

Under the presumption of the statement with Lia Energy Holdings, Olympio Metals volition get each shares of Idaho Stibnite, which holds the Sawtooth assets. Additionally, the claims of the Raven excavation volition beryllium transferred to Idaho Stibnite.

To money these acquisitions and further exploration efforts, Olympio Metals has secured steadfast commitments done an oversubscribed placement to institutions and blase investors, raising A$3m ($2.1m) earlier costs.

The institution is presently undertaking elaborate owed diligence connected some projects to formulate an effectual exploration strategy wrong the fixed clip framework of 90 days, arsenic specified successful its statement with Lia Energy Holdings.

Olympio Metals managing manager Sean Delaney said: “Acquiring 2 projects successful the US prospective for silver, antimony and copper diversifies Olympio’s vulnerability into the captious minerals space. The Olympio squad are completing owed diligence and assessing the geological prospectivity and improvement imaginable of these important metallic and antimony assets.

“We are precise pleased that the task vendors, Lia Energy Holdings and associates person demonstrated assurance successful the projects by participating successful our superior rise and we would similar to convey each caller and existing shareholders for their support.”