Apollo Minerals Ltd (ASX:AON) earlier this week provided updates on its projects in Gabon, focusing on the Salanie Gold Project and the Kroussou Zinc-Lead Project.
Managing director Neil Inwood sat down with Proactive’s Tylah Tully to highlight that the maiden drill program at Salanie had been completed, with visible gold observed in quartz veins. He noted this is the first modern exploration of the area in 70 years.
Inwood noted the Salanie drilling program started in the second quarter of 2024 and included work at the A1 prospect. It observed visible gold 20 metres along the trend from previous trenching that returned 10 metres at 3.5 grams per tonne gold.
Historical mining records show the area was a high-grade producer between 1943 and 1953.
Inwood told investors that assay results are pending and that preparations for a 2025 drilling campaign are underway.
The company has identified new targets through mapping and soil geochemistry and is engaging a reputable in-country drilling partner.
Additionally, Apollo Minerals reported progress at its Kroussou Zinc-Lead Project, where it is finalising tenement renewals and exploring partnerships for future exploration.
The company also announced an entitlement offer aimed at involving shareholders in funding its upcoming programs. Inwood emphasised that key targets remain untested and new discoveries are possible in the coming year. Apollo expects 2025 to be a pivotal period for exploration.
Highlights
- Apollo Minerals’ main projects are the Salanie Gold Project and the Kroussou Zinc-Lead Project in Gabon.
- Recently completed maiden drill program at Salanie, with visible gold observed in quartz veins.
- This marks the first modern exploration in the region in over 70 years.
- Preparing for another drilling program in early 2025, with new targets identified through mapping and geochemistry.
- At the Kroussou Zinc-Lead Project, Apollo is finalising tenement renewals and planning to engage potential partners in 2025.
- Announced an entitlement offer to allow shareholders to support project advancement.
- Discussed “unfinished business” at key targets, including Six Prospects, and anticipated results from current assays.
Maiden drill program
Tylah Tully (TT): Neil, thanks for joining us today.
Neil Inwood (NI): Hey, Tyler. Great to meet you.
TT: Nice to meet you too. So to start, for those who aren't familiar, can you talk to us about Apollo and its projects?
NI: Absolutely. So, we have our core projects in Gabon, which is in central West Africa. We have the exciting Salanie Gold Project in the centre of the country, and to the south, we have our Kroussou Zinc-Lead Project. Our focus at the moment is on the Salanie Gold Project, where we are exploring a historical high-grade gold mining region.
TT: You announced some news today from Salanie. What can you tell us?
NI: Absolutely. We've just finished our maiden drill program at Salanie and announced the results of the first round of drilling.
We’ve also shared visuals from drilling at the A1 prospect. This program commenced in the second quarter of this year, and we recently finalised it. At the A1 prospect, we observed visible gold in quartz veins in the core, which is very encouraging.
This discovery is just 20 metres along the trend of a trenching program where we found ten meters at 3.5 grams per tonne. This is significant as it's the first modern exploration in this region in 70 years and the first drilling around these prospects. The area was historically a high-grade producer from 1943 to 1953, and we’re thrilled to finally start modern exploration here.
Examples of visible gold identified in SLDD004 – at 19.04m (associated with chalcopyrite (Cpy) and galena (Gn)).
TT: It sounds like an exciting project. So what are the next steps? Where do you go from here?
NI: We’re eagerly awaiting assay results from the A1 drilling. Additionally, we are preparing for a new drilling program in the new year. We’re in advanced discussions with a reputable drilling company in-country, and we believe this partnership will make the upcoming program very effective.
Through ongoing mapping and soil geochemistry, we’ve also identified several additional targets that we plan to test.
Advancing Kroussou and bringing investors on board
TT: And what else is going on in Gabon?
Neil Inwood: In Gabon, we also have the Kroussou Zinc-Lead Project to the south. It’s a large system, and we’re currently finalising the tenement renewal. We hope to advance this project further in 2025, potentially with new partners.
TT: I understand that you’ve also announced an entitlement offer. Can you tell us more about that?
NI: Yes, Tylah. Alongside today’s results from Salanie, we’ve announced an entitlement offer to bring existing shareholders along as we advance the project. This process will take place over the next four weeks, and we’re looking forward to having our shareholders be part of this journey.
What’s next
TT: Just finally, before we end this interview, do you mind talking us through your investor case and why you think investors should be attracted to the company?
NI: For sure. We’re eagerly awaiting results from our recent drilling and have observed some interesting findings in the core along the trenching trend. Unfortunately, not all targets from this year’s drill program were tested.
For example, in the area of the Six Prospects, which was historically a high-grade underground mine, we only managed to drill one hole, though we believe it intersected the system. There’s a lot of unfinished business there. We also have new targets identified by our field teams that we are excited to test in the new year.
TT: It definitely sounds like it’s going to be an exciting year for the company. We can’t wait to see what you’ve got in store. Thanks so much for joining us today.
NI: Great. Thanks, Tylah.
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