Apollo Consolidated surged 34 per cent today on another high-grade gold hit at its Rebecca project in Western Australia.

Two recent holes drilled on the 161 Lode, Bombora prospect at Rebecca intersected:

  • 50 metres at 4.05 grams of gold per tonne including 1 metre at 12.56 grams per tonne and 2 metres at 10.6 grams per tonne
  • 14 metres at 2.14 grams of gold per tonne and 9 metres at 1.23 grams per tonne

Apollo Consolidated (ASX:AOP) shares soared as much as 34 per cent to 23.5c on the news, later cooling to 22c, Apollo is valued at about $39 million.

The results build on recent high-grade intercepts on the 161 Lode including 17.8 metres at 16 grams per tonne.

These results are the first from a program of seven drill holes completed this month.

Remaining results are expected in next three to four weeks.

Apollo is well-funded to continue exploration activities with $9.4 million in the bank.