Olympio Metals to acquire US silver and antimony projects

Core Insights - Olympio Metals has agreed to fully acquire the Raven Silver Project in Montana and the Sawtooth Antimony Project in Idaho from Lia Energy, signing a binding option agreement [1][4] - The projects are recognized for their potential in silver, antimony, and copper, with historical high-grade production at the Raven project [1][2] Project Details - No modern exploration or drilling has been conducted at either site, indicating significant opportunities for further development [2] - The Raven Silver Project includes 27 mineral claims with two historically significant mines, Raven and Silver King, located in the Thompson River mining district [2] - Historical data shows high average grades of up to 2,084 grams per tonne (g/t) silver and 19.51% copper at the Raven mine, and 996 g/t silver at the Silver King mine [3] - The Sawtooth Antimony Project consists of five silver-antimony prospects near the Sawtooth City mining camp but lacks comprehensive modern sampling records [3] Strategic Importance - The US Geological Survey has included antimony and silver on its 2025 Critical Minerals List, supporting the US Government's $12 billion strategic mineral stockpile plan [4] - Under the agreement, Olympio Metals will acquire all shares of Idaho Stibnite, which holds the Sawtooth assets, and the claims of the Raven mine will be transferred to Idaho Stibnite [4] Funding and Exploration Plans - To finance these acquisitions and further exploration, Olympio Metals has raised A$3 million (approximately $2.1 million) through an oversubscribed placement to institutions and sophisticated investors [5] - The company is conducting detailed due diligence on both projects to develop an effective exploration strategy within a 90-day timeframe as per the agreement with Lia Energy [5] Management Commentary - The managing director of Olympio Metals stated that acquiring these projects diversifies the company's exposure to critical minerals [6] - The company expressed gratitude to project vendors Lia Energy Holdings for their confidence and participation in the capital raise [7]