Apollo Minerals Limited (ASX: AON) is focused on the discovery and development of large scale, near surface, zinc-lead resources at the Company’s 100% owned Kroussou Zinc-Lead Project in Gabon which consist of two Exploration Permits which cover a total of 2,363.5km2.
Kroussou is located within the Ngounié Province of Western Gabon located approximately 220km southeast from the capital city of Libreville.
Kroussou is a large, province scale zinc project
Exploration to date has validated the province-scale potential at Kroussou with the identification of multiple zinc-lead mineral occurrences over more than 135km of strike length of prospective geology to date. The potential for further discovery at Kroussou is immense with 23 identified zinc-lead target prospects, only six of which have been drill tested to date. Additionally there is known gold mineralisation in the north of the new Keri Permit (Target Prospect 24).
The Company recently announced its initial Exploration Target (estimated across only six of 24 target prospects) consisting of between 140 and 300 million tonnes at a grade between 2.0% and 3.4% zinc plus lead1.
Near surface, thick mineralisation
The very shallow nature of the zinc-lead mineralization being intersected, (average depth 15m, which is unique worldwide), indicates the low cost development and mining potential at the Project.
Gabon is an attractive, mining-friendly, yet underexplored jurisdiction
Gabon has an establishing mining industry (being a major exporter of manganese and oil) and of late has seen a growing influx of large Australian-listed companies in the region. The country benefits from well-established infrastructure and direct access to global shipping routes. The Kroussou project is located 230kms from port, connected by rail and sealed roads. Gabon has a favourable Mining Convention with tax concessions for mining exploration, is politically stable and an abundance of hydropower to support low carbon mining operations.
1The potential quantity and grade of the initial Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource. It is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. Refer to ASX announcement dated 9 November 2022