Image: Mining Africa
ASX-listed Apollo Minerals has secured AUD3.25 million from investors in Australia, U.K., Portugal and the U.S. to accelerate broader scale drilling and surface exploration programs at the company’s Kroussou Project, located in Ngounié Province, in western Gabon.
“We are very excited to have commenced drilling and look forward to testing the many identified targets at the project,” says Neil Inwood, Executive Director of Apollo Minerals. “The significant support received from existing investors and directors highlights the opportunity for value creation as we systematically explore a large scale, near surface zinc-lead project, which has more than 80km of prospective strike and multiple opportunities for significant discovery.”
The first phase of Apollo’s large-scale program includes 1,000m diamond drilling, targeted towards high-grade zinc and lead mineralization on the Kikaki and Buambo East prospects. Results from phase one of the campaign are expected within the coming months.
The Kroussou Project has more than 80km of potential extension and multiple opportunities for important discoveries. Four out of 18 prospects have been drill-tested to date, with the remaining 12 mineral occurrences considered a priority exploration target.
With the aim of using its mineral sector to diversify its sources of income, currently dominated by oil, Gabon has high hopes for the project.