Apollo Minerals' latest exploration update

Apollo Minerals (ASX:AON) has provided an update on its exploration activities for the quarter ending September 30, 2024. The company is progressing with its Salanie Gold Project in Gabon, Kroussou Zinc-Lead Project, and Belgrade Copper Project in Serbia. Significant developments include diamond drilling and visible gold discoveries. The company is also divesting certain assets to focus on key projects.

Quarterly exploration achievements and financial management

Apollo Minerals has made progress in its key exploration projects, including the Salanie Gold Project with promising visible gold findings and the Kroussou Zinc-Lead Project with significant exploration targets. In Serbia, the Belgrade Copper Project's drilling aims to explore copper anomalies. The company is divesting non-core assets to focus on key projects and is managing its financial resources with $1.5 million in cash holdings, while seeking additional funding to support future exploration. Apollo is also addressing legal matters in France related to the Couflens Project.

Executive insights on exploration and strategy

During the quarter, Apollo Minerals has made significant strides in advancing our exploration projects. Our focus remains on unlocking the potential of the Salanie Gold Project, where visible gold in quartz veining indicates high-grade prospects, and the Kroussou Zinc-Lead Project with its province-scale potential. The drilling program at the Belgrade Copper Project is underway, targeting significant copper anomalies. Our recent agreement with Bindi Metals Limited to divest certain assets aligns with our strategy to concentrate on priority exploration areas. We are actively managing our financial resources and assessing funding options to support our ongoing projects.