Lake Rebecca looking commercial for Apollo chief
Apollo Consolidated managing director Nick Castleden believes the explorer’s flagship Lake Rebecca gold project has a “distinctly commercial look about it”.
The explorer this week reported more promising intersections at Rebecca, complementing a steady stream of impressive drill hits from previously under-explored ground at the northern part of the tenement.
Apollo has held the ground in the densely covered lake country 150km east of Kalgoorlie-Boulder for close to a decade.
But it is only since the latter half of 2017 after shifting its focus away from the Cote d’Ivoire that the company has paid any real attention to the prospect.
Apollo stock soared 51 per cent in September, 2017 when the Bombora prospect at Rebecca returned stellar results. The explorer ramped up its activities at the project and a steady drilling campaign since has started to paint a clearer picture of the ground’s potential.
Mr Castleden yesterday told the Kalgoorlie Miner Apollo was beginning to recognise the project’s commercial potential.
“I think we’ve recognised it looks commercial, certainly in parts, it’s just a question of how big can it get?” he said. “When you say commerciality, it is an unknown quantity but it has that look of a system that should get mined.”
Monday’s announcement included highlight intersections of 16m at 3.24g per tonne at the Jennifer lode and 2m at 1.45g/t at Duke.
Mr Castleden said the latest results ticked a few boxes in helping the explorer understand more about the ground’s gold potential.
“The first of them was deep and potential new positions at the Rebecca prospects and we are getting closer to understanding how a new surface might look at depth and that is just slightly to the west of our main Jennifer discovery,” he said.
Apollo reported it had about $10 million in the bank last quarter.