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Drilling

Apollo Minerals Reports Solid Operational and Corporate Progress

Strategic Insights

— 1 min read

Apollo Minerals reported significant advancements in its operational and corporate progress during the March 2025 quarter. The company completed Phase 2 drilling at the Salanie Gold Project in Gabon, targeting extensions and new areas across the A1, A3, and P6 prospects, with assay results expected shortly. The company also strengthened its balance sheet by completing a shortfall offer that raised approximately A$2 million, cornerstoned by a strategic investment from Capital DI Limited. Additionally, Apollo Minerals made progress on the Kroussou Zinc-Lead Project with the renewal of the Ndolou permit, securing tenure over key prospects for an additional three years.

Key Takeaways:

  • Apollo Minerals completed Phase 2 drilling at the Salanie Gold Project, with a total of 14 holes for 1,695 metres drilled, advancing the understanding of the high-grade gold system.
  • The company raised approximately A$2 million from a shortfall offer, cornerstoned by a strategic investment from Capital DI Limited, which places Apollo Minerals in a stronger position to accelerate its exploration programs.
  • Apollo Minerals renewed the Ndolou permit for the Kroussou Zinc-Lead Project, securing tenure over key prospects for an additional three years.
  • The divestment of non-core Serbian assets remains conditional upon regulatory approvals.
  • Apollo Minerals retains interests in the Studena and Kopajska Reka copper prospects in Serbia.
  • The company is evaluating further project opportunities within Gabon and internationally, aligned with its strategy to develop high-value mineral resource assets.

Statistics:

  • A total of 14 holes for 1,695 metres were drilled during Phase 2 drilling at the Salanie Gold Project.
  • Apollo Minerals raised approximately A$2 million from a shortfall offer.
  • The company has a cash balance of A$2.5 million and investments in listed entities valued at approximately A$0.45 million.
  • The Kroussou project covers an area of 2,363.5 square kilometres.
  • The initial JORC-compliant Exploration Target for the Kroussou project is estimated between 140 million and 300 million tonnes at 2.0-3.4% combined zinc and lead.

Sources:

  • Apollo Minerals Ltd, "Apollo Minerals Reports Solid Operational and Corporate Progress for the March 2025 Quarter"
  • Capital DI Limited, "Capital DI Limited Supports Apollo Minerals With A$2 Million Strategic Investment"
  • GeoBusiness, "Apollo Minerals Completes Drilling at Salanie Gold Project"

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