Apollo sees potential after hitting gold in area undrilled for 70 years at Salanie

Apollo Minerals (ASX:AON) has reported a fresh discovery of “shallow high-grade gold” at its Salanie project in Gabon, Africa.

Targeting the ‘A1’ target of interest, which Apollo asserted on Wednesday hasn’t seen modern drilling in 70 years, the company highlighted the following result headline result:

• 11.7m @ 4.3gt gold from 9.6m depth, including:
  • 5.8m @ 8.2g/t gold from 15.5m depth

Further drilling will be needed to shore up greater confidence in what A1 can offer the company (and its shareholders,) but, it’s clear geotechs see a link to a nearby drill hole.

The company reported “gold mineralisation in fresh rock within a 12m zone of quartz veining and shearing starting from 9.6m” with visible gold “located locally from 19m to 19.4m.”

The company believes this extends a trend observed in drill hole SATR001 (previously completed) which hit 10.3m @ 3.4g/t gold. Soil anomalies also have geotechs remaining interested in the A1 target area for now.

To that end, a fresh drill run will kick off early next year targeting prospects A1, A2 & A3; a fourth target called P6 where the company has reported previous fieldwork success sniffing around historic workings.

A one-for-three non-renounceable pro-rata entitlements offer is also still open.

“The results of Hole SLDD004, the first drilling at Salanie in 70 years, are very encouraging as they demonstrate shallow high-grade gold mineralisation to the north of the outcropping,” Apollo MD Neil Inwood said.

“[This helps] confirm the presence of a mineralised system at the A1 Prospect that is open along strike and dip … results highlight the potential of A1 and the Salanie Gold Project as a whole, as an emerging high-grade gold discovery.”

AON last traded at 1.4cps.

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