Amara Minerals hits high-grade gold in first Apollo diamond hole

Amara Minerals (ASX: AM3) has kicked off its latest drilling campaign at the Apollo Gold and Antimony Project in central Victoria with a strong first assay result, intersecting more than 57 metres of gold mineralisation including a higher grade core running above 5 grams per tonne.

The first three diamond holes at Apollo have now been completed for a combined 862.5 metres, with the program targeting the Dig Fault Zone and specifically aiming to extend and strengthen the higher-grade portion of the mineralised system.

Results from the first hole, AA2601, returned 57.5 metres at 2.62 grams per tonne gold from 139.5 metres.

Within that interval, Amara recorded a 20-metre section grading 5.13 grams per tonne gold from the same depth, including 10 metres at 8.04 grams per tonne from 141 metres.

The company said the result provides the type of width and grade it is looking for as it works towards geological modelling and assesses the potential for a maiden Mineral Resource Estimate at Apollo.

The program is now moving towards testing the Dig Fault Zone at depth, where mineralisation remains open. Amara said successful deeper intersections could extend the known vertical footprint of the zone and potentially increase the scale of any future resource.

A further three holes totaling approximately 2,000 metres are planned during the current campaign, subject to ongoing review of results.

Assays from AA2602 and AA2603 are expected around mid to late September, depending on laboratory turnaround times.

The company is also planning for the drill rig to return to its Lauriston Gold and Antimony Project during the December quarter once the Apollo program is complete.

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The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.