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Apollo Consolidated (ASX:AOP) reports new assay results at Lake Rebecca
  • Apollo Consolidated (AOP) has reported new assay results from its ongoing drilling program at the Lake Rebecca Gold Project
  • Drilling at Lake Rebecca included infill and step-out exploration tests of the main mineralised surfaces, the Laura, Maddy & Jennifer lodes
  • The Laura Lode continues to return strong true-width gold results, confirming continuity in the geological model with results up to 3.37g/t gold
  • On market close, Apollo is up 26.09 per cent and is trading at 29¢ apiece

Apollo Consolidated (AOP) has reported new assay results from its ongoing drilling program at the Lake Rebecca Gold Project.

During 2019, 225 drill holes were drilled for a total of 38,004 metres. The drilling tested a variety of targets, which included mineralisation delineation, exploration and precollar drilling.

"The drilling has continued to find significant gold zones in what is a very large mineralisation system," the company told the market.

During 2019, all of the assayed intercepts were above 0.50g/t, with approximately 75 per cent sitting in the grade range between 0.50g/t and 2g/t, 15per cent of the intercepts were between 2g/t and 4g/t and the remaining 10 per cent were above 4g/t.

This data shows that the Jennifer and Laura lodes sit within a large low-grade system. Apollo expects this to become even further apparent when the company completes its Maiden Mineral Resource estimation, which is currently in progress.

Over last years' drilling, the company has a built a strong understanding of this key mineralised system, which includes sulphide gold mineralisation, specifically in the Jennifer, Laura and Maddy lodes.

Together these surfaces represent a substantial west-dipping gold system that currently extends over 1.7 kilometres in the strike.

Drilling at Rebecca is extending the deposit into open positions, while infill and delineation drilling continues to build confidence in ket mineralised positions.

The Laura Lode intersected 19 metres at 3.37g/t gold of gold from 104 metres (including 2 metres at 16g/t gold).

"The Laura surface is likely to contribute an important volume to resource estimations, and it remains open down-dip and plunge," the company said.

The Maddy Lode returned 11 metres at 3.45g/t of gold from 294 metres.

The company said that the apparent steepening of the lode surface suggests the potential for local high-grade gold mineralised positions such as that seen in steeper sections of the Jennifer lode.

Ongoing diamond drilling at the Maddy lode will continue in 2020 to build geological confidence in lode geometry and scope strike and dip extensions.

Apollo now has a geological understanding of the area and will now move towards a Mineral Resource Estimate.

"Drilling will continue in 2020 with a re-start of RC drilling and deeper diamond drilling targeting open higher-grade positions, plunge corridors and emerging structural targets identified in independent structural geological reviews," the company said.

On market close, Apollo is up 26.09 per cent and is trading at 29¢ apiece.


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