Apollo building on one million ounce resource at Lake Rebecca

By Trevor Hoey. Published at May 14, 2020, in Mining

Apollo Consolidated Limited (ASX: AOP) has reported promising new reverse circulation (RC) drilling results from its Lake Rebecca Gold Project located 150 kilometres east of Kalgoorlie in the West Australian goldfields.

Lake Rebecca already has a resource in excess of 1 million ounces and the group is undertaking a three-pronged strategy to grow the resource through step out and deeper drilling, as well as undertaking drilling where there is the potential for higher grade mineralisation within known pit shells.

Consequently, the latest round of results is important for the group, particularly in terms of identifying new prospects and strike extensions.

The delineation of 25 metres at 1.2 g/t gold followed by 15 metres at 1.4 g/t gold in a new prospect located just over 1 kilometre north-east of the group’s 180,000 ounce Duchess deposit is highly promising.

Similarly, a near-surface 10-metre intersection grading 7.7 g/t gold, including3 metres at 21.6 g/t gold at the Rebecca deposit bodes well for the company’s prospects of expanding the 775,000 ounce resource.

Looks cheap with cash of $17 million and one million ounce resource

While step-down and infill drilling will be undertaken to build geological confidence in the orientation of the high-grade structures, the addition of shallow, higher-grade material in this part of the deposit will play an important role in future mining studies.

Diamond drilling reported this year also identified strong extensions and higher-grade positions to the Laura structure 100 metres to 200 metres below the Rebecca Mineral Resource.

It is worth noting that the company is well-positioned financially to continue its aggressive exploration campaign with nearly $17 million in cash as at March 31, 2020 and US$4.5 million ready to be injected into the coffers following the sale of an asset in Côte d’Ivoire.

Given the company’s robust financial position, the size of its established resource and the potential exploration upside, its market capitalisation of about $70 million appears conservative.

Where to invest $1,000 right now

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!