Apollo had been exploring for gold in the Birimian Goldfields of Côte d’Ivoire over a four-year period prior to its gold discoveries at the Lake Rebecca Project in Western Australia.
During this period the Company successfully defined significant new greenfield gold mineralisation on the Bagoe and Liberty in northern Cote d’Ivoire, and at Seguela in central Cote d’Ivoire.
Following completion of a sale agreement1 with Exore Resources (ASX:ERX), Apollo sold 80% of its three northern tenements for 90m shares (19.3% of Exore’s issued capital) and a 20% free carry to Decision to Mine. In April 2019 the Company completed an in-specie distribution of all ERX shares to Apollo shareholders.
The retained free-carried interest in the northern permits offers strong exposure to this exciting region of Cote d’Ivoire that has already delivered a number of +million-ounce gold deposits and has two operating mines nearby.
Exore is conducting an active drilling campaign on the properties and the reader is encouraged to follow this progress at ASX:ERX.
The Company also holds a 1.2% NSR royalty interest over the Seguela Project where Roxgold Inc (TSE: ROXG) has a 430,000oz2 resource at the Antenna Prospect. Roxgold is carrying out active exploration in preparation for first stage economic assessment of the contained resources on the property.
- Refer to ASX: AOP 6th August 2018 and 10th December 2018
- Refer to TSX: ROXG 18th April 2019 ‘Roxgold Completes Acquisition of the Seguela Gold Project and Commences Exploration Program’
Liberty, Bagoe and Seguela Projects Cote d’Ivoire