Apollo Minerals Reports New High-Grade Gold Discovery at Salanie Project

2 min read | December 11, 2024 01:12 PM AEDT | By Team Kalkine Media

Apollo Minerals Reports New High-Grade Gold Discovery at Salanie Project — Image source: shutterstock

Significant Gold Intercepts at A1 Target

The headline drilling result from the A1 target at Salanie includes 11.7m at 4.3 grams per tonne (g/t) of gold from a depth of 9.6m. Within this zone, there was a higher-grade intercept of 5.8m at 8.2 g/t gold from 15.5m. Apollo also observed gold mineralisation in fresh rock within a 12m zone of quartz veining and shearing, with visible gold identified between 19 and 19.4m.

This discovery builds on previous drilling in the area, particularly drill hole SATR001, which returned 10.3m at 3.4 g/t gold. The company also noted soil anomalies that continue to support interest in the A1 target zone.

Plans for Further Drilling

Although the results are encouraging, Apollo Minerals emphasized the need for further drilling to validate the potential of the A1 target and assess its full impact on the company’s future. Additional drilling is scheduled to begin early next year, focusing on the A1, A2, and A3 targets, along with the P6 target, where previous fieldwork has indicated potential around historic workings.

Financing and Investor Participation

To support its ongoing exploration efforts, Apollo Minerals has opened a one-for-three non-renounceable pro-rata entitlement offer.

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