Materials

Apollo confirms high grade massive sulphide discovery: 40% zinc and lead

Tue 18 Oct 22, 11:12am (AEST)
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Source: iStock

Key Points

  • Apollo confirms its highest ever grades recorded at Kroussou
  • A high grade massive sulphide discovery - 40% Zinc + Lead
  • Priority targets for next phase identified
  • Exploration Target set to be posted by the company ahead of a JORC resource in the coming months ahead

Apollo Minerals (ASX:AON) surged 38% in the first hour of trade today as the company posted news of its highest zinc grades discovered yet. 

Apollo, exploring for zinc at its Kroussou project in Gabon, Africa, reported a 3.5m section of core at concentration of 40% zinc-lead. 

Investor information provider, Undervalued Equity, classifies high grade zinc as that in concentrations over 10%, so Apollo’s results easily supersede that threshold.

Globally unique shallow depths

3.5m @ 40% zinc is an impressive result, but there is another added benefit to the find: it’s only 3.5m deep. 

Near surface, thick mineralisation indicates low cost development, and the shallow mineralisation suggests the company may be able to move ahead with an open pit mine design; which pending feasibility studies will determine. 

Mineralisation remains open to the north and the south along a 130km of prospective contacts.

The company is also reporting:

  • 4.4m @ 10% zinc from 37.4m depth

  • 4.0m @ 8.6% zinc from 27.7m depth

A strong pipeline of news flow is expected as the Company advances an aggressive exploration program. Recent mapping identifies gossans 200m east and 1.3km north as priority targets for the next phase.

A schematic outlining Apollo's most recent drilling activities on-site (source: Apollo Minerals)
A schematic outlining Apollo's most recent drilling activities on-site (source: Apollo Minerals)

"Game-changing discovery"

“These spectacular assay results from drilling at TP13 confirm the game-changing discovery previously reported and have further enhanced our expectations for the potential scale and quality of Kroussou.” Apollo MD Neil Inwood said.

“Data from the recently completed airborne electromagnetic survey will be utilised to generate additional exploration targets to the 23 targets already identified.” 

“The opportunity for discovery is massive and our excitement is palpable – we believe Kroussou really does have the potential to be a very large, province-scale zinc district.” 

Disclaimer: Market Index helps small-cap ASX listed companies connect with Australian investors through clear and concise articles on key developments. Apollo was a client at the time of publishing. All coverage contains factual information only and should not be interpreted as an opinion or financial advice.

 

Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication.

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