Olympio storms into US with bonanza silver and antimony plays

Olympio Metals has signed a binding option agreement to acquire 100 per cent of the Raven silver project in Montana and the Sawtooth antimony project in Idaho, USA, marking a strategic entry into the US critical minerals sector.

Both projects offer strong prospectivity for silver, antimony and copper, with interest in them bolstered by their inclusion on the 2025 US Geological Survey’s critical minerals list, which is supported by the US Government’s US$12 (A$17) billion strategic mineral stockpile initiative.

No modern exploration or drilling has taken place at either asset, presenting fresh discovery potential.

The flagship Raven silver project in Montana comprises 27 claims and hosts the historic Raven and Silver King mines in the Thompson River district.

‘A move into the USGS Critical Minerals space provides opportunity to rapidly develop silver and antimony prospects.’

Olympio Metals managing director Sean Delaney

The Raven Mine operated between 1919 and 1934 and produced 85 tonnes of ore for 5695 ounces of silver and 15 tonnes of copper at average grades of 2084 grams per tonne (g/t) silver and 19.51 per cent copper.

Between 1916 and 1950, the Silver King mine delivered 477 tons of ore, yielding 15,272 ounces of silver, 6 tonnes of copper, 50 tonnes of lead, and 2.4 tonnes of zinc.

Average grades at Silver King were 996g/t silver, 1.38 per cent copper, 11.6 per cent lead and 1.9 per cent zinc.

Just 15 kilometres from Thompson Falls, the Raven silver project benefits from nearby infrastructure, including US Antimony Corporation’s operational silver-antimony smelter, 45km to the west, which offers a clear pathway to future production.

The complementary Sawtooth antimony project in Idaho comprises 99 claims containing five prospects near the historic Sawtooth City camp, with known silver and antimony occurrences in veins and shear zones.

Historical reports refer to antimony mineralisation, including the antimony sulphide mineral stibnite, although available documentation is insufficient for modern quantitative reporting.

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 are completing due diligence and assessing the geological prospectivity and development potential of these significant silver and antimony assets.”

Under the option agreement with vendor Lia Energy Holdings, Olympio has paid a non-refundable cash option fee of A$20,000, which grants 90 days for due diligence. On exercise of the option, Olympio will issue 15 million of its shares to the vendor.

The deal provides for various deferred performance milestones along a progressive development path extending from two to ten years, with additional payments in shares or cash tied to the start of drilling, high-grade intercepts.

A later milestone is tied to completion of a JORC or foreign compliant mineral resource estimate of greater than or equal to 250,000 ounces at an average grade of equal to or better than 100g/t silver equivalent.

Additionally, the vendor will retain marketing and offtake rights for 50 per cent of production and a 5 per cent net smelter royalty.

To fund the acquisition and subsequent exploration, Olympio has secured firm commitments for an oversubscribed A$3 million placement. Notably, the vendor group has committed A$500,000 to the placement.

Olympio is currently advancing its due diligence on the two new US projects and has started planning its exploration strategy. Meanwhile, the company is still maintaining a solid focus on its promising Bousquet gold project, which straddles the famed and highly prospective Cadillac Break in Quebec, Canada.

Backed by bonanza historical silver grades at Raven, untested antimony potential at Sawtooth and nearby processing infrastructure, Olympio looks to have stacked the deck in its favour as it pushes into the US.

With fresh funding from a critical minerals-driven placement, the company is poised to tap into the growing American demand for a secure domestic supply of silver and antimony.

Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au