- Apollo Minerals (AON) enters an agreement to acquire Edelweiss, allowing it to obtain the high-quality Belgrade copper project in Serbia
- Belgrade comprises four licenses covering 202 square kilometres
- The project complements AON’s existing focus on base metals and notably its Gabon-based Krousssou zinc-lead project
- AON MD Niel Inwood says the company is “thrilled” to be entering the agreement
- Shares in AON last traded at 3.5 cents
Apollo Minerals (AON) has entered into a conditional agreement to acquire Edelweiss, a move that grants the company control over the high-quality Belgrade copper project in Serbia.
The copper project encompasses four licenses and spans 202 square kilometres.
This acquisition complements AON’s existing focus on base metals, particularly its Krousssou zinc-lead project in Gabon.
“Apollo Minerals is thrilled to secure an excellent portfolio of European copper exploration ground within Serbia’s renowned Carpatho-Balkanian Metallogenic Province,” AON Managing Director Neil Inwood said.
“The Belgrade copper project has a compelling exploration thesis which the team are extremely excited to test.”
The company is optimistic about the project, believing it holds excellent potential for significant discoveries of world-class sedimentary-hosted copper mineralisation
Historical surface rock chip assays have demonstrated exceptional values, with copper content reaching up to 20 per cent and silver content as high as 1540 parts per million, as confirmed by recent fieldwork conducted by Apollo.
“Serbia is currently Europe’s second-largest copper producer and I am convinced there are world-class sedimentary-hosted copper discoveries to be made in the region,” Mr Inwood added.
“We have already been on the ground and were impressed with the modern infrastructure, local mining knowledge, and highly skilled local workforce.”
Shares in AON last traded at 3.5 cents.