Apollo Minerals Limited (ASX:AON) continues to carry out surface exploration programs to further assess identified prospects and to generate new targets within the Kroussou Zinc-Lead Project in Gabon.
This work includes soil surveying, geological mapping and rock chip sampling with initial samples sent for laboratory analysis.
Results are expected in the coming weeks and these will be used to assist in planning a drilling program early next year.
Apollo intends to drill a number of high-grade, shallow lead and zinc targets identified from surface sampling and previous exploration work.
Shares have been up as much as 21% in early trade to 3.5 cents.
More than 150 zinc-lead mineral occurrences have been identified over a more than 70-kilometre strike length of prospective geology within the project area.
The mineral occurrences are associated with 18 channels, each representing an exploration target with the potential to host significant shallow, zinc-lead mineralisation.
Only four of these 18 prospects have been drill tested to date, with all four channels intersecting zinc-lead mineralisation at very shallow depths.
Kroussou project highlighting 18 prospects.
Contact with Ministry
A new Minister of Mines in Gabon has recently been appointed and the company’s in-country representatives continue to be in regular contact with the Ministry.
This contact is centred on the issuance of a Mining (Exploration) Convention for the project.
This agreement entitles Apollo to earn-in an interest of up to 80% in the project.
Apollo is continuing to focus on defining a large-scale, shallow open-pittable, high-grade zinc-lead mineral resource at the project.
Kroussou consists of one prospecting licence covering 986.5 square kilometres in Ngounié Province, western Gabon, 220 kilometres southeast of the capital city of Libreville.
The project is a large-scale, near-surface zinc-lead project with exploration to date validating the potential for the discovery of province-scale base metals.