The latest drilling work at Olympus Pacific Minerals Phuoc Son gold property in Vietnam has almost doubled the strike length of the North Deposit.

Olympus Pacific Minerals says it is gaining an improved understanding of the ore controls at Phuoc Son, which will have a significant impact on the exploration of the overall tenement.

Olympus Pacific Minerals chairman David Seton says drilling has confirmed the geological model of ore grade controls to mineralization.

"Ten of the 14 holes drilled in the North Deposit area during 2006 have returned significant grades and it has been established that the North Deposit remains open to the north and south,"

Drilling has had a high success or hit rate with only four of 48 holes drilled to date within the "ore trend" reporting under0.5 grams/tonne while 25% of the holes have returned intersects greater than 7.5 grams/tonne.

Assays have been received for seven additional step-out and infill holes and include 7.95 grams per tonne gold over 4.85 metres and 10.81 grams per tonne gold over 2.20 metres.

Exploration drilling designed as a "first pass" test of the large scale potential of the deposit structure returned encouraging results from areas located approximately 500 metres to the north and 300 metres to the south of the known deposit.

David Seton says t he host deposit structure has been identified,

In one hole, significant alteration has been encountered, up to 20 metres thick in and anomalous gold values obtained, which include 4.95 grams per tonne gold over 1.22 metres.

Olympus Pacific Minerals has three rigs active on the project conducting step-out and exploration drilling.

Olympus Pacific Minerals owns 85% of the Phuoc Son Gold property, which is located in central Vietnam .

Phuoc Son to date contains two known deposits (North and South deposits) and is located along the Phuoc Son-Sepon suture hosting such world-class deposits as Oxiana's Sepon deposit to the east.