Aurenere, in Spain, contains an extension of the tungsten and gold strike at Couflens believes Apollo, which is paying €100,000 upfront for a 75% stake in Neometal, which owns the licence currently.
A further €150,000 falls due once an investigation permit is granted, while Apollo must spend a further €2.5mln over five years on development to retain its stake.
Fieldwork at Couflens has identified widespread tungsten (up to 8.25% WO3) and high-grade gold (up to 24.5 g/t).
Apollo believes these samples are indicative of shear-hosted gold mineralisation within large fault structures extending to the west of the Salau mine area in Couflens towards Aurenere.
Combined, Aurenere and Couflens cover an area of 97 sq Km in the Pyrenees.