Amara Minerals (ASX: AM3) Hits 102 Metres of Gold at Apollo

Amara Minerals has reported a 102.3-metre gold intersection from drilling at its 100%-owned Apollo Gold and Antimony Project in central Victoria, adding another broad, high-grade result to the explorer’s work at the Dig Fault Zone.

Hole AA2603 returned 102.3 metres at 2.29 grams per tonne gold from 140.5 metres downhole. That included 66.8 metres at 3.08 grams per tonne from the same depth and a higher-grade interval of 11 metres at 12.79 grams per tonne from 177.1 metres.

The company estimates the broad intersection has a true width of about 27.3 metres. That distinction matters because the headline figure is a downhole measurement rather than the interpreted thickness of the mineralised zone.

A second hole, AA2602, intersected 73.4 metres at 1.31 grams per tonne gold from 221.5 metres, including 1.6 metres at 8.33 grams per tonne and 0.6 metres at 21.8 grams per tonne. Its estimated true width is about 18.5 metres.

The AA2602 intersection was below the extent of previous drilling within the system’s core, providing evidence of mineralisation at depth. Amara said the Dig Fault Zone remains open at depth and south of Meade’s Open Cut.

Building the Apollo model

The results follow AA2601, reported in September, which returned 57.5 metres at 2.62 grams per tonne gold from 139.5 metres, including 20 metres at 5.13 grams per tonne.

Together, the first three holes in the current campaign were designed to test and potentially enlarge the higher-grade core while supplying data for geological modelling and evaluation of a possible maiden Mineral Resource Estimate.

Apollo does not yet have a reported mineral resource. Amara’s technical disclosures state that current drill spacing and distribution are not sufficient to establish the geological and grade continuity required for resource reporting.

Four diamond holes totalling 1,264.8 metres have now been completed as part of an ongoing 2,000-metre program. The latest results also sit alongside high-grade historical drilling, including 39.5 metres at 7.25 grams per tonne and 28 metres at 10.2 grams per tonne, both reported by previous explorers.

Next assay is the near-term test

Amara has completed AA2604, the first of several holes planned outside the previously drilled mineralised envelope. Geological logging identified extremely rare, fine visible gold grains of less than one millimetre at two locations, around 276 and 288 metres downhole.

Those observations are not assay results and cannot determine either grade or mineralised width. Samples have been submitted to a Bendigo laboratory, with results expected in mid-November, subject to laboratory throughput.

Drilling is continuing with AA2605, which is targeting mineralisation down-dip of AA2603 and AA2604. The pending AA2604 assays will provide the next laboratory test of whether the Apollo system continues south and at depth.