Brought to you by BULLS N’ BEARSPenny TaylorJuly 20, 2026 — 1:41pmOlympio Metals has secured an 80 per cent interest in the Jacknife high-grade silver project in northern Idaho, USA, in a strategic move that further expands its North American precious and critical minerals portfolio.Rather than starting with a grassroots exploration project, Olympio is acquiring an advanced silver district with substantial underground development and a proven mining history.Entrance to the Conjecture Mine at Olympio Metals’ Jacknife silver project in Idaho’s Lakeview Mining District, USA.The centrepiece of the deal is the Conjecture mine, with a historical foreign estimate of 632,081 tonnes grading 405 grams per tonne (g/t) for 8.22 million ounces of contained silver. The company says the estimate predates the modern JORC Code and will require validation drilling before it can be formally assessed as a mineral resource under the code.The project already boasts a proven production history, with six mines producing more than 3.2 million ounces of silver at an average grade of 395g/t. The Conjecture mine alone produced more than two million ounces between 1956 and 1964 at grades of up to 684g/t silver.‘The project has historically produced over 3.2Moz of silver grading 12.7 ounces per tonne.’Olympio Metals managing director Sean DelaneyPrevious drilling also confirmed high-grade silver mineralisation beyond the underground workings, including 3.9m grading 264g/t silver and 1.88g/t gold, supporting Olympio’s planned validation drilling.While historic mining appears to confirm the grade, more than 8km of underground development, including a shaft extending beyond 600m at Conjecture, gives Olympio a significant head start in proving the project’s scale.Those workings extend across only 500m of the 3.4km-long Conjecture Shear, leaving much of the mineralised system largely untested and providing significant exploration upside across multiple structural targets.Olympio Metals managing director Sean Delaney said: “The Jacknife project in Idaho is an excellent acquisition for Olympio to complement our recently acquired Raven high grade silver project. Jacknife has historically produced over 3.2 million ounces of silver at an average grade of 12.7 ounces per tonne over a period of very low silver prices. The Conjecture Mine within the project area hosts a significant foreign estimate of 8.22Moz at 13 oz/t silver and remains open along strike and at depth.”Olympio’s immediate focus is a maiden drill program to validate the historical foreign estimate by testing known mineralisation within the Conjecture Shear zone between existing underground levels.About 80 per cent of the project’s seven-kilometre mineralised trend sits on patented mining claims, allowing exploration without federal permits and requiring only limited approvals for underground mining. Thanks to the patents, drilling is expected to begin as soon as a suitable rig becomes available.Olympio is acquiring the project from Idaho-based Scout Discoveries, which consolidated the patented and surrounding claims. Scout will retain a 20 per cent interest while providing geological, exploration, drilling and operational support as Olympio’s local technical partner.Under the terms of the acquisition, the company has stitched together a low-cost pathway into the project, paying just US$20,000 (A$29,000) upfront for an exclusive 30-day due diligence period, followed by US$100,000 (A$143,000) in cash and 45 million Olympio shares on completion to secure its 80 per cent interest.The deal is also heavily weighted towards success, with most of the value only payable if the project advances. Scout Discoveries can earn a further 25 million shares if Olympio starts drilling, secures key drilling approvals, and defines a JORC-compliant resource of at least 3 million silver-equivalent ounces within five years.Beyond exploration, additional cash payments only kick in as the project is de-risked through development, with US$500,000 (A$715,000) due on completion of a preliminary economic assessment. A further US$1 million (A$1.43M) is payable on a pre-feasibility study and an additional US$1 million on completion of a definitive feasibility study.Beyond validating the foreign estimate, the company has already identified multiple drill-ready targets and will complement drilling with surface mapping and geochemical sampling to prioritise further opportunities. Olympio has also secured a right of first refusal over the historic Lakeview Mill, less than 2km from Conjecture, providing strategic future processing optionality.The acquisition follows Olympio’s recent purchase of the nearby Raven high-grade silver project in neighbouring Montana and the Sawtooth antimony project in Idaho.Together, the duo of acquisitions complement the company’s strategy of assembling advanced precious and critical minerals assets across established North American mining districts, including its flagship Bousquet gold project in Quebec.Jacknife lies within Idaho’s Lakeview Mining District, 35km from the town of Coeur d’Alene. The grounds are hosted in the same geological formations as the Sunshine Mine in the world-famous Silver Valley, a world-class system with a reported silver endowment of 624 million ounces.The US Government’s US$12 billion strategic mineral stockpile initiative highlights growing demand for domestic supplies of critical minerals. Jacknife also contains significant lead, zinc, copper, gold and minor antimony alongside silver, all benefiting from the growing demand in solar, electronics and defence.Jacknife delivers Olympio far more than another exploration project. It provides an advanced platform to quickly unlock value in one of North America’s premier silver districts.And a proven production history, an existing historical foreign estimate and substantial exploration upside appear to have combined to create a powerful investment proposition.Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.auFrom our partners