Olympus Pacific - Vietnam: Tien Thuan

Location

Tien Thuan Geology Highlights
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80 km from the port city of Quy Nhon, in Binh Dinh Province, Central Vietnam.

Exploration Stage

Moderately advanced The Tien Thuan project area was extensively mapped and sampled by the Geological Survey of Vietnam during the 1980s. Olympus is currently re-validating and extending that work through detailed geological, geochemical and geophysical surveys, preparatory to a diamond drilling programme scheduled during 2009.

Equity

Olympus has 75% controlling interest and is the project operator in Joint Venture with Biotan Minerals Joint Stock Company, which is owned by the Provincial Government.

Tenure

The project is held pursuant to an Investment Certificate and under Agreement with the Binh Dinh Provincial Government.

Geology

The Tien Thuan project comprises a large area (~100 km2) of faulted terrain on the eastern boundary of the Kontum Massif - an uplifted cratonic block of high-grade metamorphic basement rocks of Precambrian age. Mapping and sampling has revealed many vein and felsite breccia structures in contact with silicified rhyolite and felsite dykes and associated with granite and micro granite intrusive stocks. Several metal donations (e.g. Au-Ag-Bi-Sb, Pb-Zn, Au-Mo-W) have been defined. Potentially economic mineralization environments include the following:

Porphyry-gold-copper-molybdenum-tungsten mineralization within felsic intrusives.
Massive Cu-Pb-Zn sulphides, hosted within extensive shear zones.
Auriferous quartz vein swarms and extensive vein stockwork/breccia zones.

Principal Minerals

Gold, silver, copper, molybdenum, lead, zinc, tungsten.

Key Results

Examples of significant mineralization zones that have been delineated to date include:

Nui Bac Ma Sector Quartz Veins:
Geological mapping has revealed a swarm of sub-parallel, steeply-dipping gold-mineralised quartz veins, hosted within a quartz monzonite intrusive stock. Soil geochemistry has revealed that these extend over an area of 1,600 x 2,200 metres. Six of these veins have been extensively sampled from shafts and adits by the Geological Survey of Vietnam. Olympus’s check sampling has independently confirmed the DGMV results (with rock chip assays ranging up to 46.00 g/t Au).
Vinh Hoa Sector:
Soil geochemistry has revealed a gold-mineralized vein and several sub-parallel lodes (generally ~1m wide), outcropping over a strike length of about 1 km. Field mapping revealed classic crustiform and banded fine-grained and vughy quartz textures, indicative of a high-level, low-temperature environment.
Thang Long Sector:
A gold-molybdenum-in-soil anomaly (20-74 ppm Mo) extends over 1,180 x 300 metres (open-ended to the NW) is associated with an outcropping rhyolite-micro diorite intrusive complex and contains a smaller (currently open-ended) gold anomalous zone (in which soil values range up to 1.1 g/t Au).
A structural corridor:
Massive quartz veins (up to 20m width) and local stock-work and breccia zones extend 15 km along strike.

Resource Inventory

Gold resources have previously been estimated by DGMV in the Nui Bac Ma and Thanh Hoa Sectors. However, extensive drilling is required before these may be upgraded to JORC status for public announcement.

Future Development

Systematic exploration of ranked prospects within the various sectors will progressively delineate resources within individual ore bodies. As soon as the project resource inventory surpasses the commercial development criteria, metallurgical, mining, environmental and economic feasibility studies will be conducted.

Disclaimer: This website contains information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's disclosure guidelines generally preclude including information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.