Apollo drilling strengthens case for shallow, high-grade zinc-lead at Kroussou
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Drilling at Apollo’s province-scale Kroussou zinc-lead project in Gabon continues to intersect significant shallow, high-grade mineralisation.
Intercepts such as 38.2m grading 2.1% zinc+lead from a depth of 20m including 12m at 4.1% zinc+lead from 28m; and 18.7m at 2.8% zinc+lead from 5.5m including 9.5m at 4.6% zinc+lead have been returned from a further nine diamond holes completed at the Dikaki prospect.
And that’s just one of 18 highly prospective prospects.
Notably for Apollo Minerals (ASX:AON), the results show that an extensive width and strike is developing with the added benefit of average depth of mineralisation being just 14m, which underscores the potential for simple open pit mining.
Adding to this, the revised geological model indicates that the main channel-wide system is untested for 6km of strike by modern drilling while the average channel width is about 420m.
“We are excited by these new results at Dikaki with drilling in the east of the prospect now demonstrating significant grade continuity at very shallow depths, which has not been previously identified,” executive director Neil Inwood said.
“Our maiden drill campaign is demonstrating grade and mineralisation with the potential developing for a large and shallow channel of mineralisation averaging 420m in width and up to 6km in strike that could be amenable to simple low-cost open pit mining.
“The Kroussou Project has the potential to deliver a significant, large scale, base metal province.”
Assays for the remaining 25 holes at Dikaki and initial holes from drilling at the Niamabimbou prospect are pending.
Apollo is currently earning into an 80% stake in Kroussou, which hosts at least 80km of strike that is prospective for near-surface zinc and lead mineralisation.
It needs to spend $2 million on exploration over its first three years to claim a 70% stake in the project and another $2m within five years to up its stake to the full 80%.
The 46-hole Phase 1 drilling at the Dikaki prospect has already demonstrated extensive high-grade zinc and lead mineralisation and the potential for a large-scale, shallow, flat-lying, broad mineralised system.
Dikaki is situated at the centre of the Kroussou project area and represents one of four prospects with historical drilling activity.
Ongoing drilling at Niamabimbou, where two rigs are currently operating, has thus returned some promising indications with visible zinc+lead sulphides observed in the core.
The company says this validates its exploration targeting model with initial geological logging showing potential for coherent distinct sedimentary units that are hosting the mineralisation in a similar geometric pattern to that observed at Dikaki, as well as coherent mineralisation footprint across the entire channel.
Regional geological mapping and soil sampling activities are also underway in the southern portion of the project, and a passive seismic survey is also expected to commence in the coming weeks.
This article was developed in collaboration with Apollo Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.