Apollo Consolidated Surges on ASX post identification of New Gold Zones at Lake Rebecca.

Apollo Consolidated Limited (ASX: AOP) identified New Gold Zones at Lake Rebecca, and the company undertook a drilling program which is still going on at the project site and identified additional areas of gold mineralisation.

The company drilled a total of 14 Reverse Circulation holes and one RC pre-collar drill hole in February 2019, and these drill holes tested new shallow targets within the Rebecca mineralized corridor and revealed new significant mineralisation that will require follow-up drilling.

In the Rebecca mineralised corridor, the company drilled five shallow holes, approx. 200m south of the southern extent of the Jennifer Lode. The area, shown a promising potential, where it earlier returned an intercept of 16m @ 3.02g/t Au, 1m @ 22.20g/t Au and 17m @ 1.67g/t, to the recent drilled shallow holes.

New drilling on section 6640930N retuned strong results, and the gold system remains open to the south beyond the current limit of drilling.

The drill hole identified as RCLR0309 returned 12m @ 3.87g/t Au, including 1m @ 17.58g/t Au from 137m and 5m @ 5.37g/t Au from 55m.

The drill hole identified as RCLR0306 returned 5m @ 2.56g/t Au from 84m.

The drill hole identified as RCLR0307 returned 5m @ @ 2.10g/t Au from 45m.

The drill hole identified as RCLR0308 returned 10m @ 1.10g/t Au from 40m and 2m @ 5.26g/t Au from 62m.

A RC pre-collar hole, which was identified as RCLR0314, was drilled on the section 6641385N at the northern Jennifer Lode in preparation for a diamond tail to be drilled by the company later. The hole returned 13m @ 1.76g/t Au from 136m including 1m @ 13.83g/t Au and intersected a 46m wide zone of strongly anomalous gold from 120m to 176m.

The company drilled few holes for exploration as well apart from the extensional holes drilled in Laura and Jennifer.

The drill hole identified as RCLR0304, which was drilled on section 6641510N in the Jennifer NE to test the dip extension below previous shallower drilling returned 20m @ 2.91g/t Au including 1m @ 26.0g/t Au) from 145m.

The drill hole identified as RCLRO311, which was drilled on section 6641680N in the east of Laura and confirmed previous intercepts and indicated the potential for a new mineralised surface sub-parallel to Laura, returned 13m @ 2.99g/t Au from 45m and 1m @ 11.69g/t Au from 63m.

The company drilled Four infills, and step-out holes on the Laura Lode and the each completed drill hole intersected disseminated sulphides in the expected lode position and intercepts were close to the true width.

The hole resulted from RCLR0303 returned 16m @ 1.13g/t Au from 184.

RCLR0302 – 13m @ 1.33g/t Au from 182m. This intercept is interpreted to be a partial test, as it is truncated by a late-stage mafic dyke.

RCLR0300 – 10m @ 1.01g/t Au from 145m.

The latest drilling at the prospect successfully identified new targets for the company for future drilling, outside of the previously defined lobes and confirmed Laura and Jennifer NE mineralisation. The recent work by the company emphasizes the potential of the Rebecca Mineralisation system.

As per the company, the new mineralisation identified in exploration holes will further require additional drilling, and it will be included in an accelerated drilling program, which the company is planning to commence in Q2, 2019.

During the time of writing this report, the shares of the company are trading at A$0.250 (as on 15th March 2019, 03:10 PM), up by 21.95% as compared to its previous close.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.