Apollo Minerals Ltd (ASX:AON) has completed the consolidation of 100% ownership of the Kroussou Zinc-Lead Project in Gabon by acquiring the remaining 20% interest held by Trek Metals Ltd (ASX:TKM).
In line with a share sale deed, the company issued Trek three million ordinary shares and one million options exercisable into ordinary shares at 12 cents per share, expiring June 30, 2024, to secure the remaining interest.
Apollo completed a maiden drilling campaign at Kroussou in 2021 which returned significant wide zinc-lead mineralised intersections from shallow depths at Dikaki and Niamabimbou, two of the 18 channel prospects.
These results validate the province scale, base metal potential of Kroussou including multiple opportunities for further discovery of zinc-lead mineralisation within the remaining untested channels.
“Base metal discoveries”
Apollo managing director Neil Inwood said: “We are pleased to have completed the agreement with Trek, allowing the company to secure 100% ownership of the province-scale Kroussou zinc-lead exploration project where we continue to explore and grow the base metal discoveries at Dikaki and Niamabimbou in addition to activities at the regional exploration targets.
“The company currently has two drill rigs at the site and is awaiting the commencement of the airborne electromagnetic survey in the coming days.”
Kroussou Project with key target prospects.
About Kroussou project
Kroussou is a province-scale zinc-lead exploration project in Gabon that consists of prospecting Licence G4-569 which covers 986.5 square kilometres in the Ngounié Province of Western Gabon, about 220 kilometres SSE of the capital Libreville.
The zinc-lead discoveries made at Kroussou are represented by thick intersections at shallow depths with geometry that may be favourable to simple low-cost open-pit mining scenarios.
Initial metallurgical test-work on the Kroussou mineralisation has demonstrated the potential for high-grade clean concentrates with strong recoveries of both zinc and lead creating expectations for the potential for high payability.
A high-level assessment of infrastructure and transport requirements for a future mining operation at Kroussou has indicated the potential for existing capability which will provide the basis for future feasibility study work.