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Apollo Minerals sees strong news flow and value drivers in 2021-2022 from large-scale zinc-lead Kroussou Discovery

Exploration to date has validated province-scale base metals potential, with multiple opportunities for discovery with 18 prospects open and underexplored, with broader, deeper parts of the basin completely untested. 

Apollo Minerals sees strong news flow and value drivers in 2021-2022 from its large scale zinc-lead Kroussou Discovery
Initial metallurgical test-work has indicated high recoveries and produced separate, high-grade and high-quality zinc and lead concentrates.

Apollo Minerals Limited (ASX:AON) is expecting strong news flow and value drivers in 2021 and during 2022 from its large-scale, near-surface zinc-lead Kroussou Project in Gabon, Africa. 

Exploration to date has validated province-scale base metals potential at Kroussou, with multiple opportunities for discovery with 18 prospects open and underexplored, with broader, deeper parts of the basin completely untested. 

Its 2021 drilling is developing a large-scale, shallow, flat-lying, broadly mineralised system with possible continuity across multiple zones, which could allow simple open pit mining extraction. 

Drilling is underway on two of the 18 Prospects, with plans to drill all prospects over the next 12 months. 

Initial metallurgical test work has indicated high recoveries and produced separate, high-grade and high-quality zinc and lead concentrates. 

Multiple discoveries

The project area covers around 1,000 square kilometres of highly prospective geology within sedimentary basins including +80 kilometres trend of mineralisation and 18 prospects with multi-kilometre potential in each channel.

Only four of 18 prospects have been drill tested to date, with lead-zinc mineralisation intersected at very shallow depths in all four of them.

All 18 prospects remain open and under-explored with the broader, deeper parts of the basin completely untested.

Exploration has historically focused mainly on the Dikaki Prospect and out of the more than 4 kilometres strike of identified mineralisation, only 1.5 kilometres has been drill tested.

Significant demonstrated potential at multiple other defined target areas: Bimbome, Bouambo South, Bouambo East, Niambokamba and newly discovered Niamabimbou Prospect, along with the remainder of Dikaki Prospect.

First drill results at Dikaki

Recent assays from Dikaki have confirmed shallow, high-grade zinc and lead mineralisation within 40 metres of surface.

Dikaki alone has more than 5 kilometres of identified mineralisation trend, average depth to mineralisation less than 15 metres.

So far, first results from 11 holes have been received, with 35 holes pending.

Strong shallow, high-grade true width intercepts from 2021 drilling include:

  • 32 metres at 3.1% zinc+lead from 4.0 metres, including 13.5 metres at 5.3% zinc+lead from 12.8 metres;
  • 40 metres at 2.2% zinc+lead from 3.2 metres, including 12 metres at 4.0% zinc+lead from 17.0 metres and 4 metres at 3.1% zinc+lead from 38.0 metres;
  • 33 metres at 2.4% zinc+lead from 34.0 metres,  including 14 metres at 4.0% zinc+lead from 34.0 metres;
  • 21.7 metres at 2.3% zinc+lead from 15.7 metres, including 12.4 metres at 3.4% zinc+lead from 25.0 metres; and
  • 13.5 metres at 2.1% zinc+lead from 0.8 metres, on the embayment edge.

Drilling starts at Niamabimbou

Maiden drilling has started at the Niamabimbou Discovery for + 5,000 metres.

Rock chip samples collected from the prospect identified widespread high-grade mineralisation with grades up to 24.85% zinc+lead.

Multiple mineralised outcrops extending over wide areas and more than 7 kilometres of trend, each outcrop representing an exploration target with the potential to host significant shallow, zinc-lead mineralisation.

There are more than 20 kilometres of prospective contact within the broader 7 kilometres trend.

High-grade concentrates at Dikaki

The Dikaki prospect has demonstrated high-grade concentrates and high recoveries.

A completed first pass metallurgical test-work program demonstrated outstanding recoveries and concentrate grades.

It had high lead concentrate grade - even before process optimisation of more than 70% lead concentrate grade and more than 90% recovery.

The highest individual concentrate grade was 79% lead and up to 58% zinc, with 90% recovery at 53% zinc across zinc rougher-cleaner.

This process refinement is likely to increase both the grade and recovery of zinc and lead in future test programs.

Strong local infrastructure

The Kroussou Project has good access for exploration and has excellent optionality for potential future transport solutions.

The sealed N1 road access from Libreville to the nearby town of Yombi supports logistical flow of equipment and staff between capital and site.

The robust road and forestry tracks to the project site enables good access to exploration targets across large areas.

A small river port about 65 kilometres west of the project along good quality road currently barges equipment and product to the major commercial port of Port Gentil.

The barge system represents a relatively cheap logistical solution for potential future operations.

Strong news flow

The strong news flow and value drivers expected in 2021 include:

➢ Drill results:

  • Drilling at Dikaki with assay results pending; and
  • Drilling at Niamabimbou

➢ Geophysical surveys and interpretation to identify and classify exploration targets along the entire +80 kilometres strike at Kroussou;

➢ Metallurgical test work to confirm and advance the potential for high recovery clean concentrates;

➢Investigate regional business development opportunities; and

➢ Licence renewal.

The news flow and value drivers in 2022 are expected to come from the drilling of untested prospects as well as targeted drilling programs aimed at expanding exploration targets to JORC resources.

Further, technical studies will be undertaken, including a conceptual mining study, to assess the viability of a future mining operation.

Quick facts: Apollo Minerals Ltd

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