Adelong Gold Secures Apollo Project with High-Grade Drilling Highlights

Strategic Acquisition Expands Adelong Gold's Footprint

Adelong Gold Limited (ASX: ADG) has taken a decisive step to bolster its exploration portfolio with the acquisition of a 100% interest in Exploration Licence EL006430, now rebranded as the Apollo Gold Project, located in Victoria, Australia. This move signals the company's intent to capitalize on the highly prospective Melbourne Zone, a region renowned for hosting significant gold deposits including Southern Cross Gold's Sunday Creek project.

The acquisition agreement, executed with Currawong Resources Pty Ltd, a subsidiary of Great Pacific Gold Corporation, involves a combination of cash and share consideration totaling $700,000. This strategic addition aligns with Adelong Gold’s broader growth strategy, enhancing its asset base with a project that offers immediate exploration and development opportunities.

Robust High-Grade Drill Results Underpin Potential

The Apollo Gold Project boasts multiple zones of thick, high-grade gold mineralisation, as evidenced by historical drilling results. Highlights include intercepts such as 77 meters at 1.14 g/t Au from surface, including 35 meters at 1.85 g/t Au, and notably 39.5 meters at 7.25 g/t Au with a 10.6-meter section grading 17.1 g/t Au at depth. Other significant intercepts include 28 meters at 10.2 g/t Au and 55.1 meters at 3.06 g/t Au, underscoring the project's potential for both bulk tonnage and high-grade gold mineralisation.

These results not only confirm the presence of substantial gold mineralisation but also highlight the project's open-ended nature along strike and at depth, suggesting considerable upside for further discoveries. The presence of antimony in massive stibnite within the tenement further supports the prospectivity, drawing parallels with nearby high-grade Au-Sb systems such as Costerfield and Sunday Creek.

Geological Setting and Exploration Outlook

Geologically, the Apollo Gold Project is situated at the northern end of the Walhalla Gold Belt, covering approximately 102 square kilometers. The mineralisation is structurally controlled by a north-south striking fault zone intersected by east-west faults and granitic dykes, creating extensive fracturing conducive to gold deposition. Several fault zones remain underexplored, with recent approvals for drilling permits targeting these areas to unlock further resource potential.

Adelong Gold’s Managing Director, Ian Holland, emphasized the company’s readiness to leverage its technical expertise to fast-track exploration activities. With sufficient funding in place, the company plans to commence further drilling campaigns aimed at resource definition and targeting high-grade extensions, positioning the Apollo Gold Project as a key growth asset.

Broader Portfolio Synergies and Future Prospects

This acquisition complements Adelong Gold’s existing projects, including its flagship Adelong Goldfield Project in New South Wales and lithium tenements in Brazil. The company’s strategy to integrate exploration success with operational advancement is exemplified by its recent farm-in agreement with Great Divide Mining to accelerate production at the Adelong Goldfield.

By adding the Apollo Gold Project, Adelong Gold not only diversifies its asset base but also enhances its exposure to a prolific gold region with proven mineralisation. The company’s focus on rapid exploration and resource growth could unlock significant shareholder value as it advances towards production milestones.