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Apollo Minerals Limited granted trading halt pending news on Couflens Tungsten-Gold Project

Apollo has an attractive land package in France and Spain, including a former producing mine.

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Apollo shares last traded at 7.6 cents each

Apollo Minerals Limited (ASX:AON) has been granted a trading halt from the ASX pending an announcement regarding its Couflens Tungsten-Gold Project in France.

The halt will remain in place until an announcement is made to market or the opening of trade on the ASX on July 3, 2019.

 

Gold has been confirmed at surface along multiple kilometres of strike at Couflens, as well as down to depths of 600 metres inside the historic Salau mine, highlighting the exploration potential of the project.

Work to restart the mine is ongoing, with the company now approved to finalise reinstallation of mine services including ventilation infrastructure.

READ: Apollo Minerals continues to make progress with the revitalisation of the Couflens tungsten-gold project

Couflens comprises an exploration licence that covers a 42 square kilometre area in the Pyrenees region and includes the historic Salau mine, which was one of the world’s highest tungsten mines when it operated from 1971 to 1986.

Over its 15 years of operations the mine produced about 930,000 tonnes of ore at an average grade of 1.5% tungsten trioxide to yield about 11,500 tonnes of tungsten in concentrate.

The mine closed in 1986 when prices were much lower than today and remains open at depth with significant gold upside.

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