Apollo Minerals Ltd (ASX:AON)’s exploration licence for its Kroussou zinc-lead property in Gabon has been renewed for another three years.
The central African nation’s director-general of mines and geology recommended the renewal, which was formally signed by the Minister of Oil, Gas, Hydrocarbons and Mines, Vincent de Paul Massassa
Details of the renewal have been published in the Official Journal of the Gabonese Republic, confirming that the company’s licence has been renewed for an additional three-year period through to November 2024.
Apollo’s exploration licence, formally known as G4-569, covers 986.5 square kilometres and contains the entirety of the company’s flagship Kroussou Project.
It means the company can continue rolling out its exhaustive exploration campaign, which will include geophysical surveys, further drilling campaigns and metallurgical test-work in the 2022 field season.
“An important step”
Speaking to the renewal, Apollo Minerals executive director Neil Inwood said: “Formal confirmation of the successful renewal of the Kroussou exploration licence is an important step for the company as we advance the Kroussou Project.
“The three-year approval represents an endorsement from the Gabon government and provides certainty of tenure within the robust local mining approvals process.”
Next on the agenda
Planning is underway for a comprehensive exploration program at Kroussou in 2022, which will include geophysical surveys, further drilling campaigns and metallurgical test-work.
Next year’s work program will technical studies off the ground, designed to demonstrate the project’s commercial viability.
As previously reported, Apollo recently closed the books on its 2021 drilling program at Kroussou.
Promisingly, the company’s maiden drill program at Kroussou’s Niamabimbou prospect indicates there’s potential for a large-scale, shallow, flat-lying, broad mineralised system at the zinc-lead target.
What’s more, the fresh results from Niamabimbou have confirmed thick, shallow zinc-lead mineralisation similar to that reported at the nearby Dikaki prospect.
Now, the company is awaiting assay results from 46 holes completed at Dikaki and Niamabimbou.
These assays, along with results from recent on-ground exploration including geological mapping, soil sampling and passive seismic geophysical surveys, should be reported during quarter one of 2022.
In early November, Apollo raised $7.2 million to accelerate exploration at its cornerstone zinc-lead property.
The explorer received firm commitments to issue 90 million shares to institutional and high net-worth investors at $0.08 each.