Olympio Metals has agreed to fully acquire the Raven Silver Project in Montana and the Sawtooth Antimony Project in Idaho from Lia Energy.
The two parties have signed a binding option agreement.
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Both projects are noted for their silver, antimony and copper potential, which includes high-grade historical production at the Raven project.
No modern exploration or drilling has been carried out at either site, indicating significant opportunities for further development, said Olympio Metals, an Australia-based exploration company.
The Raven Silver Project comprises 27 mineral claims housing two historically significant mines, Raven and Silver King. The project is located within the Thompson River mining district.
Historically, these sites have shown high average grades of up to 2,084 grams per tonne (g/t) silver and 19.51% copper at the Raven mine, and 996g/t silver at the Silver King mine.
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By GlobalDataLocated near infrastructure such as an operational smelter in Thompson Falls, 45km west, the project provides a viable pathway to production, said Olympio Metals.
In Idaho, the Sawtooth Antimony Project consists of five silver-antimony prospects near the Sawtooth City mining camp but lacks comprehensive modern sampling records.
The US Geological Survey included antimony and silver on its 2025 Critical Minerals List, underpinning the US Government’s $12bn strategic mineral stockpile plan.
Under the terms of the arrangement with Lia Energy Holdings, Olympio Metals will obtain all shares of Idaho Stibnite, which holds the Sawtooth assets. Additionally, the claims of the Raven mine will be transferred to Idaho Stibnite.
To fund these acquisitions and further exploration efforts, Olympio Metals has secured firm commitments through an oversubscribed placement to institutions and sophisticated investors, raising A$3m ($2.1m) before costs.
The company is currently undertaking detailed due diligence on both projects to formulate an effective exploration strategy within the given time frame of 90 days, as specified in its agreement with Lia Energy Holdings.
Olympio Metals managing director Sean Delaney said: “Acquiring two projects in the US prospective for silver, antimony and copper diversifies Olympio’s exposure into the critical minerals space. The Olympio team are completing due diligence and assessing the geological prospectivity and development potential of these significant silver and antimony assets.
“We are very pleased that the project vendors, Lia Energy Holdings and associates have demonstrated confidence in the projects by participating in our capital raise and we would like to thank all new and existing shareholders for their support.”
In February 2025, Olympio Metals announced the signing of an option agreement with Clutch Group for the sale of its remaining three Halls Creek tenements. These tenements are located in the east Kimberley region of Western Australia.
