In 2021 Great Western drilled 3 targets at Olympic:
- OMCO
- Trafalgar Hill
- West Ridge
In 2022 Great Western drilled 2 targets at Olympic:
- OMCO
- Trafalgar Hill
OMCO
- The OMCO Mine produced gold at 25-30 grams/tonne recovered & silver at 30 grams/tonne recovered until the 1940s and was abandoned at the point where productive veins mined from west to east encountered a northsouth fault
- Additional claims were staked to the east of the OMCO Mine in 2021
- 2021 drilling: 4 holes totalling 971 metres
- A major breakthrough was achieved in 2021 when Great Western’s drill programme established evidence of an extension of the OMCO Mine vein through analysis of mineralisation in drill cuttings
- In addition to drilling east of the fault, two holes were drilled to the west of the fault and close to the OMCO Mine, yielding reportable grades of gold
- 2022 drilling: 10 holes totalling 1,339 metres, with 4 further very shallow holes
- Drilling in 2022 intercepted the OMCO Mine vein and an extension to the OMCO Mine is now established.
Trafalgar Hill
- Prospects identified through geological mapping and magnetometer surveys
- 2021 drilling: 6 holes totalling 1,352 metres
- Six holes were drilled in 2021 to test deep and shallow targets resulting in high-grade gold intercepts
- Best intercept 8.90 g/t Au in shallow zone
- Further holes will track veins to south and southeast of the existing shallow zone intercepts
- The deeper target prevails in the north of Trafalgar Hill and is a potentially larger structure than the shallow zone, while assay results have reported lower grades
- In the deeper zone an Induced Polarisation survey will be carried out for better target definition prior to further drilling
- 2022 drilling: 3 holes totalling 430 metres
- The lithology and alteration were successfully predicted and the target horizon encountered in all three holes
- In the third hole, OMRC014, this horizon was thicker than previously encountered and more pyrite impregnation was observed in the underlying rhyolite.
West Ridge
- The West Ridge prospect has previously been mined for gold
- Magnetic survey indicated mineralisation
- 2021 drilling: 1 hole totalling 152 metres
- Single hole drilled did not encounter reportable gold
- However, analysis of drill cuttings indicates possible presence of a deeper epithermal vein, which will be tested by a follow-up, deeper hole
Great Western has a target range of 450,000-1,250,000 oz gold for Olympic.
The 825-acre Olympic group of claims are located on the northern flanks of the Cedar Mountain range in centraleast Mineral County. The mineral deposit type at Olympic is of low sulphidation epithermal banded quartz gold vein style.
OLYMPIC GOLD TARGET ZONES
1 - OMCO Mine Extension
- Extension of the remaining OMCO Vein across unexplored fault blocks to the south and west of the mine workings.
- Follow up parallel vein sets both above and below the OMCO Vein indicated by historic drilling, such as the Cosmos Vein.
2 - East OMCO Fault
Continuation of OMCO Vein deposit displaced southeast by the OMCO Fault. Unexplored fault has potential to be mineralised feeder structure host to larger size deposit than OMCO Vein.
3 - OMCO Tailings
Re-evaluation of historic tailings deposit of ~41 kt @ 1.67 g/t Au.
4 - Trafalgar Hill
Extension of two outcropping gold-quartz veins along strike and at depth beneath Quaternary cover.
5 - West Ridge
Area of gold quartz veining, potentially a westerly extension of the OMCO vein. May also be associated with mineralisation seen at Trafalgar Hill to the northwest, with significant post-mineralisation cover occurring between the two prospects.
6 - Middle Hills
Large footprint of strong silicification and phyllic alteration associated with gold-quartz veining, gossans and breccias.
7 - East Gully
Similar characteristics to Middle Hills with further intersecting fault orientations adding likelihood of hydrothermal fluid transport and mineral deposition. Placer gold has reportedly been recovered from the target and has potential to link to Middle Hills.
8 - Rhyolite Dome
Area of gold-quartz veining and brecciation associated with silica flooding.