Can Apollo Minerals Turn Gabon Discoveries into a Mining Breakthrough?
Apollo Minerals reports encouraging exploration results from its Gabon projects, highlighting significant gold intercepts at Salanie and a substantial zinc-lead target at Kroussou, while navigating funding constraints and ongoing legal challenges in Europe.
- Strong gold mineralisation confirmed at Salanie with high-grade intercepts
- Kroussou Zinc-Lead Project defines initial exploration target of 140-300Mt
- Shallow zinc-lead mineralisation suggests potential for low-cost open-pit mining
- Divestment of Serbian assets to Bindi Metals progressing subject to approvals
- Legal uncertainties persist over French Couflens tungsten project permit
Exploration Momentum at Salanie Gold Project
Apollo Minerals has advanced its exploration efforts at the Salanie Gold Project in Gabon, delivering notable results from its 2025 Phase 2 diamond drilling campaign. The program targeted untested prospects and extensions of previously identified high-grade mineralisation. At the A1 prospect, drilling confirmed shallow gold mineralisation with intercepts such as 11.7 meters at 4.3 grams per tonne gold, including a standout 5.8 meters at 8.2 grams per tonne. Further drilling extended mineralisation trends northward, underscoring the potential scale of the system.
Meanwhile, the P6 prospect yielded impressive assays, including a narrow but rich intercept of 1.1 meters at nearly 20 grams per tonne gold, associated with quartz veining near historical underground workings. These findings reinforce the 12-kilometer Salanie greenstone belt as a fertile gold province, with ongoing soil sampling and mapping identifying multiple anomalies and artisanal workings indicative of near-surface gold sources.
Kroussou Zinc-Lead Project – A Base Metals Opportunity
At the Kroussou Zinc-Lead Project, Apollo Minerals has defined an initial JORC Exploration Target ranging from 140 to 300 million tonnes grading between 2.0% and 3.4% combined zinc and lead. This target is based on drilling and geophysical data from only six of 23 identified prospects, highlighting the project's vast untapped potential. The mineralisation is notably shallow, averaging just 15 meters depth, which could enable straightforward open-pit mining and cost-effective extraction.
Recent fieldwork focused on key prospects such as Bouambo West, where previous drilling revealed high-grade base metal mineralisation exceeding 6% zinc plus lead over significant widths. The company expects assay results from its latest sampling campaign imminently, which could further refine and expand the exploration target.
Strategic Moves and Legal Challenges
On the corporate front, Apollo Minerals is progressing the divestment of its Serbian Donja Mutnica Licence and Lisa Licence Application to Bindi Metals Limited. The transaction includes upfront cash and share considerations, deferred payments contingent on licence grants, and royalty arrangements. Completion remains subject to regulatory approvals, with the company awaiting responses on the Lisa licence transfer.
Meanwhile, the company faces ongoing legal uncertainty regarding its Couflens tungsten exploration permit in France. After a protracted series of court rulings and appeals, the permit remains cancelled due to procedural issues related to environmental consultation. Apollo Minerals and its French subsidiaries have filed compensation claims and continue to monitor developments closely, with potential implications for the project’s future.
Financial Position and Outlook
As of September 30, 2025, Apollo Minerals reported cash reserves of approximately $0.5 million and holds equity stakes in Constellation Resources and Bindi Metals valued at around $0.3 million. The company’s quarterly exploration expenditure totaled $542,000, reflecting active field programs. However, with estimated funding sufficient for just one quarter at current burn rates, Apollo Minerals acknowledges the need to raise additional capital to sustain its exploration and development activities.
Management remains optimistic about securing new funding sources and continues to manage expenditures prudently. The company’s diversified project portfolio across Gabon, Serbia, and France offers multiple avenues for growth, though execution risks and regulatory uncertainties remain key considerations for investors.
Bottom Line?
Apollo Minerals’ promising exploration results in Gabon offer a bright outlook, but funding and legal hurdles will shape the next phase of its growth story.
Questions in the middle?
- Will upcoming assay results from Kroussou’s latest sampling confirm and expand the zinc-lead exploration target?
- How will the French courts’ final decisions impact the future of the Couflens tungsten project?
- What strategies will Apollo Minerals employ to secure the necessary funding to advance its projects?