Just the Facts: Olympio Metals in agreement to divest Mulwarrie for up to A$1.375 million

Proactive - Interviews for investors

Proactive’s Tylah Tully breaks down ‘Just the Facts’ of the latest news from Olympio Metals Ltd (ASX:OLY, OTC:COPGF). The company has signed a three-month option agreement with Orminex West, a subsidiary of Labyrinth Resources, to divest its non-core Mulwarrie Gold Project. This agreement enables a potential total payment of A$1.375 million. The terms include an initial cash payment of A$50,000, with an additional A$100,000 due if the option is exercised, along with A$225,000 in Labyrinth shares. A final payment of A$1 million will apply if Labyrinth defines a JORC-compliant gold resource exceeding 250,000 ounces at a minimum grade of 1.40 grams per tonne. Olympio states that this transaction will allow it to concentrate on core assets while keeping potential returns linked to Mulwarrie's exploration. Labyrinth aims to consolidate its land in the Menzies area, focusing on expanding gold exploration. Aside from Mulwarrie, Olympio continues its exploration projects, which include rare earths in South Australia, lithium near Kalgoorlie and gold in the eastern Kimberley in Australia, as well as the Cadillac Lithium Project in Quebec, Canada. #ProactiveInvestors #OlympioMetals, #ASX #JusttheFacts #GoldMining, #MulwarrieProject, #MiningDeal, #LabyrinthResources, #AustralianMining, #MineralExploration, #GoldExploration, #ASXNews, #MiningIndustry, #MiningInvesting, #LithiumMining, #RareEarths, #CanadaMining, #MineralResources, #MiningAustralia, #ResourceExploration, #GoldMarket, #MiningProjects, #MineralTenements