Apollo closing in on more gold at Rebecca

A DIAMOND core drill rig is set to resume testing high-grade “step down” exploration targets in coming days at Apollo Consolidated’s mainstay Rebecca gold deposit north east of Kalgoorlie.
Apollo closing in on more gold at Rebecca Apollo closing in on more gold at Rebecca Apollo closing in on more gold at Rebecca Apollo closing in on more gold at Rebecca Apollo closing in on more gold at Rebecca

Drilling at Lake Rebecca in WA

The drilling will follow up on an extensional hit in May of 22m grading 3.4 grams per tonne gold at the Maddy structure, as well as other intercepts below the high grade Laura structure.

The 775,000oz deposit (of which 550,000oz grading 1.5gpt are in the indicated category), consists of three major sub-parallel structures containing zones of disseminated sulphide hosted gold mineralisation (Jennifer, Laura and Maddy), flanked by stacked lower grade disseminated sulphide material.

Together these surfaces form a west-dipping gold system that extends over 1.7km in strike and several hundred metres in width.

Indications from the company point-to strong expectations around increasing the size of the resource.

Apollo noted intercepts including 3m at 10.9gpt, 13m at 2.7gpt and 5m at 3.3gpt gold sitting below the base of optimised pit shell that was used to constrain the maiden Rebecca resource estimate.

The company also pointed to recent drilling success in the southern part of Rebecca.

Two other nearby deposits mean Apollo currently holds just over 1 million ounces.

Apollo is well-cashed up for its exploration given A$16.6 million in consolidated cash at the start of the current quarter, and US$4.5 million set to be incoming post a transaction being completed pertaining to gold ground in Cote d'Ivoire.

Shares in Apollo were up 1.5% to A30.5c in afternoon trade, capitalising the company at $82 million.            

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