Olympio Metals Ltd (OLY) has finalized the acquisition of two projects in the United States, the Raven Silver Project in Montana and the Sawtooth Antimony Project in Idaho. The company confirmed it has completed the due diligence phase for the purchase, which involves the issuance of 12,500,000 fully paid ordinary shares to the vendor, Lia Energy Holdings LLC. This transaction secures for the company a land package targeting critical minerals including silver, antimony, and copper.

The Raven project, situated in Montana’s Thompson River mining district, holds significant historical significance. It encompasses the former Raven and Silver King mines, which produced high-grade ores containing silver and copper during the 19th and mid-20th centuries. According to historical records, the Raven mine achieved average production grades of 2,084 g/t silver and 19.51% copper. Despite these past mining efforts, the area has seen no modern exploration or drilling, presenting the company with an opportunity to deploy contemporary geological methods in a historically productive setting.

The Sawtooth Antimony Project in Idaho consists of three prospects, all of which exhibit silver and antimony occurrences. While historical documentation for these sites exists, the lack of modern sampling records provides a clean slate for further technical assessment. The company notes that both silver and antimony are currently included on the 2025 United States Geological Survey Critical Minerals List, a classification supported by federal initiatives aimed at bolstering domestic production capabilities.

"Acquiring two projects in the USA prospective for silver, antimony and copper diversifies Olympio's exposure into the critical minerals space. The Olympio team have completed due diligence and are excited about the geological prospectivity of the projects. The Olympio team will initially focus on the ground efforts at the Raven mine, conducting surface exploration campaigns to generate new drilling targets."

"Both the Raven and Silver King mines have a history of high-grade silver and copper production, presenting an opportunity to apply modern exploration methods to these highly prospective areas."

— Sean Delaney, Managing Director

Proximity to existing infrastructure remains a key operational benefit for the Montana asset, with an active silver-antimony smelter located just 45 kilometers from the project site. Following the completion of the acquisition, the company intends to launch immediate surface exploration campaigns at the Raven mine to delineate high-priority targets for future drilling programs.

Read the full announcement: Acquisition of High-Grade Silver/Antimony Projects Completed