23 Nov

Rebecca Drilling Update

Apollo Consolidated Limited ABN 13 102 084 917 ASX: AOP 1202 Hay Street Perth WA 6005 PO Box 556, Cottesloe WA 6911 Telephone: Facsimile: Email: Web: +61 8 6319 1900 +61 9 6314 1557 info@apolloconsolidated.com.au www.apolloconsolidated.com.au ASX ANNOUNCEMENT By e - lodgement 2 3 rd November 2021 Rebecca Drilling Update November 2021 Highlights: ? Further analytical results have been returned from Reverse Circulation (RC) drilling at the Rebecca Gold Project , with this update including drill intercepts in step - down exploration at the 195,000oz 1 Duchess deposit, from ongoing infill drilling at the Cleo discovery and around the flagship 840,000oz 1 Rebecca deposit , as well as assays from reconnaissance drilling over structural targets . ? RC d rilling at Duchess has confirmed that mineralised structures remain open and strong to depth , with RCLR0906 returning 39m @ 2.52g/t Au (including 1m @ 22.6g/t Au and 1m @ 10.0g/t Au ) , and RCLR0895 returning 17 m @ 3.39 g/t Au (including 1m @ 11.3g/t Au). These steeply plunging positions offer avenues for growth of the Duchess Mineral Resource 1 . ? Step - out and infill RC drilling at Cleo continues to outline >1g/t Au intercepts in wide zones of anomalous gold, including 10 m @ 1.81 g/t Au * in RCLR0889, within 55m @ 0.41g/t Au anomalism, and 5 m @ 1.52 g/t Au * in RCLR0890 within 65m @ 0.41g/t Au anomalism . Drilling continues at this emerging prospect. ? Reconnaissance drilling between Cleo and Rebecca identifies a new zone of gold anomalism , with RCLR0 893 returning 3m @ 1.32g/t Au in an anomalous zone of 85m @ 0.34g/t Au to end of hole (EOH). ? Ongoing shallow resource definition drilling at the northern and southern parts of the Rebecca deposit continues to build geological confidence ahead of the next Mineral Resource update. Multiple intercepts in the 2m to 6m range are reported here, including 5m @ 7.16g/t Au * in RCLR0876 and 6m @ 1.21g/t Au in RCLR0871 . ? Assay results are awaited for a further 18 RC holes , and drilling continues . * Intercept contains one or more composite sample s that will now be resampled at 1m interval s Apollo Consolidated Limited Page 2 of 14 T his release d etails fu rther analytical results from ongoing RC drilling at the Company ’ s Lake R ebecca Gold Project . Res ults from 29 RC holes for 4,885m are re p orted here . All hole details and signi ficant results are show n in Table 1. Drillin g cont in ues to return p ositive results fro m multiple target areas. Duchess Additional targeted RC drilling at the 195,000oz 1 Duchess deposit has confirmed that mineralised structures remain strong and open to depth with a series of steeply plunging positions taking shape. Step - down RC test RCLR0906 hit 39m @ 2.52g/t Au from 252m (including 1m @ 22.6g/t Au and 1m @ 10.0g/t Au) coincident with a zone of significant alteration and disseminated sulphide. The true width of this intercept is interpreted to be around 18m and is approximately 160 m down - dip from the nearest previous intercept of 18m @ 1 . 37g/t Au (Figure 1). Figure 1 . Duchess 66375 60N cross section looking north showing 2021 Mineral Resource 1 blocks and optimised A $ 2,250 /oz pit shell as well as existing RC and/or diamond drill strings colour coded for downhole gold values. Significant gold intercepts labelled, with those announ ced in this release labelled in yellow boxes. Refer to legend for downhole and block grades and Note 2 for prior ASX : AOP reporting . Elsewhere, RCLR0895 return ed 17m @ 3.39g/t Au from 163m (including 1m @ 11.3g/t Au) , some 50 m below a previous intercept of 20m @ 1.64g/t Au ( Figure 2) . These open down - plunge positions sit well below the pit shell constraining the Duchess Mineral Resource 1 and present clear targets for continued resource growth . Apollo Consolidated Limited Page 3 of 14 Figure 2 . Duchess 6637 080N cross section looking north showing 2021 Mineral Resource 1 blocks and optimised A $ 2,250 /oz pit shell as well as existing RC and/or diamond drill strings colour coded for downhole gold values. Significant gold intercepts labelled, with those announced in this release labelled in yellow boxes. Refer to legend for downhole and block grades and Note 2 for pr ior ASX : AOP reporting . Cleo Discovery area Step - out and infill RC drilling at Cleo (Figure 3) continues to outline shallow >1g/t Au intercepts sitting inside wide zones of >0.20g/t gold anomal ism , including 10m @ 1.81g/t Au* from 15m in RCLR0889, ( within 55m @ 0.41g/t Au anomalism ) , and 5m @ 1.52g/t Au* from 70m in RCLR0890 ( within 65m @ 0.41g/t Au anomalism ) . Results are awaited for additional infill drilling completed at this prospect, and further drilling is planned ahead of future Mineral Resource estimation. Drilling to date has outlined mineralisation extending over 350m of strike and anomalous zones to 150m wide . Exploration east of Cleo Reconnaissance RC drillhole RCLR0893, located in a sparsely drilled area between Cleo and Rebecca (Figure 3) has intersected a broad zone of gold anomalism totalling 85m @ 0.34g/t Au from 60m to EOH , and including intercepts of 3m @ 1.32g/t Au from 61m and 3m @ 0.75g/t Au from 97m. The drillhole lies within a ~2km long structural target in the same orientation as Rebecca and Cleo and presents a strong target for ongoing greenfield exploration. Rebecc a Ongoing resource definition drilling at the 840,000oz 1 Rebecca deposit continues to add geological confidence in the peripheral parts of the system , with drilling density being increased in the northern and southern ends of the deposit , where shallow mineralisation reported under the April 2021 Mineral Resource Estimate 1 (MRE) is predominantly at an Inferred classification. * Intercept contains one or more composite sample s that will now be resampled at 1m interval s . Apollo Consolidated Limited Page 4 of 14 Figure 3 . Plan view Rebecca Project showing RC and/or diamond collars colour coded for peak downhole gold values , outline of optimised $A2,250 pit shell constraining the Rebecca MRE 1 on magnetic imagery. Drillholes this release labelled and collars shown as stars, and selected gold intercepts in yellow boxes. *Refer to legend for downhole peak Au grades and Note 2 for prior ASX : AOP reporting . A further 10 RC holes are reported in this progress update , including two precollars drilled for future diamond ‘tails’ . Multiple intercepts in the 2m to 6m range have been retur ned , consistent with geological interpretation , including 5m @ 7.16g/t Au * from 70m in RCLR0876 and 6m @ 1.21g/t Au from 125m in RCLR0871 . Drill hole detail s and assay results are presented in Table 1, and collar locations shown in Figure 3 . * Intercept contains one or more composite sample s that will now be resampled at 1m interval s Ongoing e xploration d rilling E xploration RC and diamond drilling will continu e to work through a list of prioritised exploration, resource - definition, and step - down targets ahead of a planned break over the Christmas and New Year period. Apollo Consolidated Limited Page 5 of 14 RC drilling remains focussed on resource - definition activity, with the aim of complet ing an approximate 25m x 50m drill - spacing at shallow depths through the less - drilled northern and southern sections of the Rebecca deposit . D rilling had also test ed infill and step - out exploration targets north of Cleo , and r econna issance work is underway over soil - covered structural targets north west and north east of Duchess . An additional 18 RC holes have been completed and are awaiting assa y. Ongoing t echnical a ctivity As advised in the April MRE update, Apollo has commissioned technical evaluation work s that are running s eparately and simultaneously to exploration drilling. The works are being undertaken to allow an engineering review of a range of options for the P roject and then inform an appropriate m ining study. Independent metallurgical and e nvironmental activities continue. For more information on Apollo and its Projects please refer to latest ASX: AOP announcements, and www.apolloconsolidated.com.au Authorised for release by Nick Castleden, Managing Director. - ENDS - Further information: INVESTORS MEDIA Nick Castleden Andrew Edge / Michael Vaughan Managing Director Fivemark Partners Apollo Consolidated Limited andrew.edge@fivemark.com.au +61 8 6319 1900 +61 410 276 744 / +61 422 602 720 Apollo Consolidated Limited ABN 13 102 084 917 ASX: AOP 1202 Hay Street Perth WA 6005 PO Box 556, Cottesloe WA 6911 Telephone: Facsimile: Email: Web: +61 8 6319 1900 +61 9 6314 1557 info@apolloconsolidated.com.au www.apolloconsolidated.com.au Hole Prospect AMG E AMG N Dip Azimuth EOH Depth Intercept From RCLR0871 Rebecca Sth 486740 6640725 - 55 90 162 5m @ 0.54g/t Au* 45 1m @ 3.09g/t Au 89 2m @ 1.19g/t Au 119 6m @ 1.21g/t Au 125 RCLR0872 Rebecca Sth 486680 6640725 - 55 90 210 2m @ 1.31g/t Au 99 1m @ 1.47g/t Au 169 2m @ 1.48g/t Au 175 RCLR0873 Laura 486510 6642025 - 55 90 132 5m @ 0.73g/t Au 43 3m @ 0.84g/t Au 53 RCLR0874 Laura 486450 6642025 - 55 90 162 1m @ 1.41g/t Au 94 RCLR0875 Laura 486390 6642025 - 55 90 198 1m @ 2.35g/t Au 133 RCLR0876 Laura 486540 6641935 - 55 90 132 3m @ 0.94g/t Au 59 3m @ 0.77g/t Au 65 5m @ 7.16g/t Au* 70 RCLR0877 Laura 486480 6641935 - 55 90 162 2m @ 2.06g/t Au 102 RCLR0878 Laura 486420 6641935 - 55 90 198 5m @ 0.60g/t Au* 105 5m @ 0.74g/t Au* 170 RCLR0879 Rebecca precollar 486300 6641410 - 80 90 149 NSR RCLR0880 Rebecca precollar 486300 6641560 - 70 90 348 2m @ 0.88g/t Au 282 2m @ 0.61g/t Au 288 5m @ 0.58g/t Au* 295 3m @ 0.77g/t Au 343 RCLR0881 Exploration 485800 6640600 - 55 90 168 1m @ 1.85g/t Au 45 RCLR0882 Exploration 485700 6640600 - 55 90 140 NSR RCLR0883 Exploration 485500 6640600 - 55 90 144 NSR RCLR0884 Exploration 485400 6640600 - 55 90 138 NSR RCLR0885 Exploration 485300 6640600 - 55 90 138 NSR RCLR0886 Exploration 485200 6640600 - 55 90 144 NSR RCLR0887 Exploration 485100 6640600 - 55 90 144 NSR RCLR0888 Cleo 485180 6641850 - 55 90 102 1m @ 1.07g/t Au 44 RCLR0889 Cleo 485100 6641895 - 55 90 138 10m @ 1.81g/t Au* 15 2m @ 0.68g/t Au 36 2m @ 1.40g/t Au 50 in anom. 55m @ 0.41g/t Au 15 3m @ 0.73g/t Au EOH 135 RCLR0890 Cleo 485050 6641895 - 55 90 144 5m @ 1.52g/t Au* 70 5m @ 0.86g/t Au* 85 in anom.65m @ 0.41g/t Au 70 RCLR0891 Cleo 485100 6641975 - 55 90 144 5m @ 0.60g/t Au* 20 3m @ 1.17g/t Au 86 RCLR0892 Cleo 485060 6641975 - 55 90 144 5m @ 0.66g/t Au* 80 2m @ 1.51g/t Au 91 in anom.128m @ 0.23g/t Au EOH 10 RCLR0893 Exploration 485480 6642240 - 55 90 144 3m @ 1.32g/t Au 61 3m @ 0.75g/t Au 97 5m @ 0.58g/t Au* 125 in anom.85m @ 0.34g/t Au EOH 60 RCLR0894 Exploration 485380 6642240 - 55 90 138 NSR RCLR0895 Duchess Central 484280 6637080 - 70 90 198 17m @ 3.39g/t Au 163 incl. 1m @ 11.3g/t Au 169 3m @ 0.98g/t Au EOH 195 RCLR0896 Duchess Central 484300 6637120 - 55 90 270 8m @ 0.71g/t Au 130 3m @ 1.37g/t Au 164 2m @ 0.97g/t Au 235 RCLR0897 Duchess E 485170 6637160 - 55 90 144 1m @ 1.00g/t Au 69 5m @ 0.75g/t Au* 95 Apollo Consolidated Limited Page 7 of 14 RCLR0898 Duchess E 485070 6637160 - 55 90 144 NSR RCLR0899 Duchess NW 483520 6638600 - 55 90 154 ASSAYS PENDING RCLR0900 Duchess NW 483620 6638400 - 55 90 90 ASSAYS PENDING RCLR0901 Duchess NW 483440 6638800 - 55 90 162 ASSAYS PENDING RCLR0902 Duchess Sth 484500 6636720 - 55 90 84 ASSAYS PENDING RCLR0903 Duchess Central 484750 6637080 - 55 90 60 ASSAYS PENDING RCLR0904 Duchess East 484980 6637400 - 55 90 66 ASSAYS PENDING RCLR0905 Duchess East 484840 6637440 - 80 270 138 ASSAYS PENDING RCLR0906 Duchess NW 484360 6637560 - 90 0 306 39m @ 2.52g/t Au 252 incl. 1m @ 10.0g/t Au 269 incl. 1m @ 22.6g/t Au 274 Table 1. Drilling details this release. All reported intercepts are calculated at a 0.50g/t Au lower cut off and allowing for a maximum of 2m internal <0.50g/t Au dilution. Intercepts marked * include one or more 2 - 5m composite sample s which will now be re sampled at 1m intervals. No internal dilution is allowed in composite - only intercepts. ‘Anomalous zones’ are designed to show width of the gold envelope and comprise intercepts and surrounding anomalism at a nominal >0.1g/t lower cut off, and 1 g/t Au top c ut. Notes : 1. For details of the Rebecca project Mineral Resource estimation please refer to ASX: AOP 20 th April 2021 ‘Significant increase in Indicated Resources takes Rebecca Gold Project to technical studies & spurs accelerated drilling’. Detailed information on the Mineral Resource estimation is available in that document. Refer to Apollo Consolidated website (www.apolloconsolidated.com.au) and at the ASX platform. The Company is not aware of any new information or data that materially affects the information in that announcement. Also, Apollo confirms that the material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. The aggregate resource figure referenced in t his announcement is broken down into JORC - compliant resource categories as set out in Table 2. Below: 1. Indicated Inferred Indicated & Inferred Deposit Tonnes Grade g/t Ounces Tonnes Grade g/t Ounces Tonnes Grade g/t Ounces Rebecca 13,600,000 1.5 640,000 6,800,000 0.9 200,000 20,400,000 1.3 840,000 Duchess 4,150,000 0.9 125,000 2,700,000 0.8 75,000 6,850,000 0.9 195,000 Duke 1,450,000 1.1 55,000 400,000 1.1 15,000 1,900,000 1.1 65,000 Total 19,200,000 1.3 815,000 9,900,000 0.9 290,000 Total Indicated & Inferred Mineral Resource 29,100,000 1.2 1,105,000 Table 2 . Lake Rebecca Gold Project Mineral Resources as of April 2021. Notes : The Mineral Resource s are reported at a lower cut - off grade of 0. 5 g/t Au and are constrained within A$2,250/oz optimised pit shells based on mining parameters and operating costs typical for Australian open pit extraction of deposits of similar scale and geology. All numbers are rounded to reflect appropriate levels of confidence. Apparent differences in totals may occur due to rounding. 2. For details of past Rebecca Project drilling and results please refer to ASX: AOP releases: 26 August 2012, 28 September 2012, 8 October 2015, 1 September 2016, 9, 13, 20 & 24 October 2017, 15 January 2018, 12th April 2018, 7 May 2018, 17 th July 2018, 13 th & 30 th August 2018, 21 st September 2018, 15 th October 2018, 17 th December 2018, 15 th March 2019, 21 st May 2019, 12 th , 18 th & 27 th June 2019, 5 th August 2019, 3 rd September 2019, 1 st October 2019, 4 th November 2019, 3 rd December 2019 , 6th January 2020,15th March 2020, 16th April 2020, 13th May 2020, 29th May 2020, 24th June 2020, 8th July 2020, 4th August 2020, 24th September 2020, 3 rd November 2020, 7th December 2020, 12th January 2021, 2nd February 2021 , 15th February 2021 , 4 th May 2021, 12 th May 2021 and 18 th June 2021 , 7 th July 2021, 3 rd August 2021 , 8 th September 2021 , 22 nd September 2021 and 23 rd October 2021. Apollo Consolidated Limited Page 8 of 14 The information in this release that relates to Exploration Results as those terms are defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve", is based on information compiled by Mr. Nick Castleden, who is a director of the Company and a Member of the Australian Institute of Geoscientists. Mr. Castleden has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity whi ch they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserve". Mr. Castleden consents to the inclusion of the mat ters based on his information in the form and context in which it appears. The information contained in this announcement that relates to M ineral R esource estimate s for the Rebecca, Duchess and Duke gold deposits is based on information compiled by Mr. Brian Wolfe, an independent consultant to Apollo Consolidated Limited, and a Member of the AIG. Mr . Wolfe has sufficient experience which is relevant to the style of mineralisation and type of deposit under considera tion and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Wolfe consents to th e inclusion in thi s announcement of the matters based on his information in the form and context in which it appears . Exploration results by previous explorers referring to the Rebecca Projects are prepared and disclosed by Apollo Consolidated Limited in accordance with JORC Code 2004. The Company confirms that it is not aware of any new information or data that materially affects the information included in this market announcement. The exploration results prepared and disclosed under the JORC 2004 have n ot been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported. APPENDIX 1 JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases • Each drill hole location was collected with a hand - held GPS unit with ~3m tolerance. • Geological logging was completed on all core ahead of selection of intervals for cutting and analysis. Logging codes are consistent with past RC drilling • Reverse circulation drilling (RC), angled drill holes from surface • Mostly 1m samples of 2 - 3kg in weight • Industry - standard diameter reverse circulation drilling rods and conventional face - sampling RC hammer bit • One metre samples collected from the cyclone and passed through a cone - splitter to collect a 2 - 3kg split, bulk remainder collected in plastic RC sample bags and placed in 20m lines on site • Composite samples are compiled by obliquely spearing through 2 - 5 x 1m samples, to make a 2 - 3kg sample • Wet samples are spear - sampled obliquely through bulk 1m sample to collect a representative 2 - 3kg sample; lab sample is dried on site if any moisture in sample. • Wet samples are rare. • HQ or NQ2 sized diamond core collected from angled drill holes • Core was drilled starting from the final depth of earlier RC pre - collars • Certified Reference Standards inserted every ~40samples, duplicate sample of a split 1m interval, collected at 1 x per RC drill hole Apollo Consolidated Limited Page 9 of 14 Criteria JORC Code explanation Commentary more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. • All samples were analysed by 50g Fire Assay technique which is an appropriate technique for this style of mine ralisation and reported at a 0.01ppm threshold Drilling techniques • Drill type (eg core, reverse circulation, open - hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face - sampling bit or other type, whether core is oriented and if so, by what method, etc). • RC rig supplied by Egan Drilling of Perth • D iamond rig supplied by Blue Spec drilling of Kalgoorlie • Reverse Circulation drilling, 6m long, 4.5 - inch rods & face - sampling hammer Drill sample recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferentia l loss/gain of fine/coarse material. • RC samples sieved and logged at 1m intervals by supervising geologist, sample quality, moisture and any contamination also logged. • >95% of RC samples were dry and of good quality • RC Booster and auxiliary air pack used to control groundwater inflow • Sample recovery optimized by hammer pull back and air blow - through at the end of each metre. • Where composite samples are taken, the sample spear is inserted diagonally through the bulk sample bag from top to bottom to ensure a full cross - section of the sample is collected. • To minimize contamination and ensure an even split, the cone splitter is cleaned with compressed air at the end of each rod, and the cyclone is cleaned every 50m and at the end of hole, and more often when we t samples are encountered. • RC holes where groundwater cannot be controlled are abandoned, and later extended where necessary via NQ diamond ‘tails’ • >95% of all drill samples in fresh rock profile were dry • Sample quality and recovery was generally good using the techniques above, no material bias is expected in high - recovery samples obtained Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) • Recording of rock type, oxida tion, veining, alteration and sample quality carried out for all core collected • Logging is mostly qualitative • Each entire drill hole was logged • While drill core samples are being geologically logged, they will not be at a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • RC samples representing the lithology of each 2m section of the drill hole were collected and stored into chip trays for future geological reference • All core trays a nd RC chip trays are photographed for Apollo Consolidated Limited Page 10 of 14 Criteria JORC Code explanation Commentary photography. • The total length and percentage of the relevant intersections logged. future geological reference Sub - sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non - core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub - sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second - half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled. • R C composite sampling was carried out where site geologist decided material was less likely to be mineralised. In these intervals samples were spear - sampled directly from the split bulk sample, to make up a 2 - 3kg 2 - 5m composite sample • Where composite samples are taken, the sample spear is inserted diagonally through the bulk sample bag from top to bottom to ensure a full cross - section of the sample is collected. This technique is considered an industry standard and effective assay cost - contro l measure • Bulk bags for each metre are stored for future assay if required. • All samples were dry and representative of drilled material • Certified Reference Standards inserted every ~40 samples, 1 x duplicate sample submitted per drillhole • Sample sizes in the 2 - 3kg range are considered sufficient to accurately represent the gold content in the drilled metre at this project • Diamond core is cut in half lengthways and half - core lengths up to 1.5m in length were submitted for assay • Remaining half core is r etained in core trays for future study Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. • RC chip samples are collected from the Project area by staff and delivered to SGS Kalgoorlie (WA) w here they were crushed to - 2mm, subset, riffle split and pulverised to - 75um before being assayed for 50g charge assayed by fire assay with AAS finish, Lab code FA505. • Core samples are collected from the Project area by staff and delivered to delivered to SGS Kalgoorlie (WA) where they were crushed to - 2mm, subset, riffle split and pulverised to - 75um before being assayed for 50g charge assayed by fire assay with AAS finish, Lab code FA505. • Quality control procedures adopted consist in the insertion of laboratory standards approx every 40m and one duplicate sample per hole and also internal Genalysis/SGS laboratory checks. The results demonstrated an acceptable level of accuracy and precision • Company standard results show acceptable correlation with expected grades of standards Apollo Consolidated Limited Page 11 of 14 Criteria JORC Code explanation Commentary • A good correlation was observed between visible gold logged and/or percentage of sulphide and gold grades Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss a ny adjustment to assay data. • The sample register is checked in the field while sampling is ongoing and double checked while entering the data on the computer. • The sample register is used to process raw results from the lab and the processed results are th en validated by software (.xls, MapInfo/Discover). • A hardcopy of each file is stored, and an electronic copy saved in two separate hard disk drives • The project is at exploration and resource stage, at Mining Study stage twinned holes will be drilled as a ppropriate. Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down - hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Collar located using a Garmin GPS with an accuracy ~3m • Data are recorded in AMG 1984, Zone 51 projection. • Topographic control using the same GPS with an accuracy <10m • Drillhole details supplied in body of announcement Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore R eserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • Detailed RC drilling is completed at 25m , 40m & 50m line spacing to infill and extend interpreted mineralisation • Exploration RC drilling may be carried out on lines up to 1.2km apart and infilled to 400m then 1 00m lines. • The drill program was designed to follow - up existing nearby mineralisation and t he spacing of the program is considered suitable to provide bedrock information and geometry of the lode structures targeted. Further infill drilling may be required to establish continuity and grade variation around the holes • Assays are reported as 1m sam ples, unless otherwise indicated in tables in the attaching text Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, consideri ng the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling • Drillholes were oriented along AMGZ51 east - west unless shown in Table 1. • Drill sections intend to cut geology close to right - angles of interpreted strikes. Completed drillholes intersected target mineralisation in the expected down - hole positions. • Rock contacts and fabrics at Cleo and Duke are interpreted to be close to vertical. Duchess and Rebecca structures mostly dip west at close to right angles to the drill hole. Mineralised intervals reported vary from almost 100% true width to ~40 % true width, depending on local changes in the orientation of mineralised lodes Apollo Consolidated Limited Page 12 of 14 Criteria JORC Code explanation Commentary bias, this should be assessed and reported if material. Sample security • The measures taken to ensure sample security. • RC samples collected on the field brought back to the company camp area, bagged and sealed into 20kg polyweave b ags • Diamond core is processed at a secure cutting site in Kalgoorlie bagged and sealed into 20kg polyweave bags and delivered to the laboratory at the end of each day. • All samples are delivered directly from site to the laboratory by company representatives and remain under laboratory control to the delivery of results Audits or reviews • The results of any audits or reviews of sampling techniques and data. • No external audit or review completed Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code explanation Commentary Mineral tenement and land tenure status • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impedi ments to obtaining a licence to operate in the area. • Rebecca is a collection of granted exploration licences located 150km east of Kalgoorlie. The Company owns 100% of the tenements. • All deposits lie on E28/1610 • A 1.5% NSR over E28/1610 is owned by TRR Ser vices Australia Pty a subsidiary of UK based AIM listed Trident Royalties Plc. • There are no impediments to exploration on the property • Tenure is in good standing and has more than 3 years to expiry Exploration done by other parties • Acknowledgment and appraisal of exploration by other parties. • Previous exploration was carried out on a similar permit area by Placer Ltd, Aberfoyle Ltd, and Newcrest Ltd during the early to late 1990’s. Aberfoyle carried out systematic RAB and aircore dri lling on oblique and east - west drill lines, and progressed to RC and diamond drilling over mineralised bedrock at the Duchess (Redskin) and Duke prospects. Minor RC drilling was carried out at Rebecca (Bombora). • No resource calculations had been carried o ut in the past but there was sufficient drilling to demonstrate the prosects have considerable zones of gold anomalism associated with disseminated sulphides. • Regional mapping and airborne geophysical surveys were completed at the time, and parts of the te nement were IP surveyed. • The project has a good digital database of previous drilling, and all past work is captured to GIS. • The quality of the earlier work appears to be good. Geology • Deposit type, geological setting and style of mineralisation. • Dominantly granite and gneiss with minor zones of amphibolite and metamorphosed ultramafic rocks. • Mineralisation is associated with zones of disseminated pyrite and pyrrhotite associated with increased deformation and silici fication. There is a positive relationship between sulphide and gold and Apollo Consolidated Limited Page 13 of 14 Criteria JORC Code explanation Commentary limited relationship between quartz veining and gold. Drill hole Information • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. • Refer to Table in body of announcement Data aggregation methods • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut - off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be sta ted and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated. • No grade cuts applied • Reported mineralised drill hole intercepts are reported as leng th - weighted averages, where >1m width, at a 0.50g/t cut - off, and more than 1g/t Au in sum of gold in intercept. Reported intercepts allow a maximum 2m contiguous internal dilution. • ‘Anomalous’ intercepts are reported at 0.10g/t Au cut off and calculated using a maximum 2m contiguous internal dilution. • Anomalous intercepts reported may include results also reported at a 0.50g/t cut - off, are only provided to demonstrate particularly wide mineralised zones. Relationship between mineralisation widths and intercept lengths • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true • Lithologies and fabrics are interpreted to be close to right angles to the drill holes, dipping at 40 - 50 degrees we st. • The arrangement of main sulphide structures is interpreted to change along strike, and down - dip such that reported mineralised intervals can vary from almost 100% true width to ~40% true width, depending on local changes in the orientation of mineralis ed lodes • Plunge of mineralisation is considered to be shallowly southwest; and/or steeper to the northwest, additional structural mapping is required to confirm this Apollo Consolidated Limited Page 14 of 14 Criteria JORC Code explanation Commentary width not known’). Diagrams • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. • Appropriate diagrams are in body of this report Balanced reporting • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • Refer to Table showing all down - hole mineralised intercepts >0.50g/t Au in the current drill program Other substantive exploration data • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. • Preliminary bottle - ro ll metallurgical test - work reported 5 th Jan 2018 showed an average 94.5% gold recovery in 5 composite samples of fresh mineralised sulphidic material in diamond core. • Second stage testing reported 5 th April 2019 on 6 composite fresh - rock mineralised RC in tercepts returned an average 93% gold recovery. Further work • The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large - scale step - out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not c ommercially sensitive. • These results are part of an ongoing exploration and Mineral Resources extension drilling, and additional results are expected regularly over coming months. • Next stage of exploration work will consist of follow - up RC pre - collars and diamond drilling to continue to scope lateral and plunge extensions of structures and to test new targets • Additional surface geophysical surveys may be commissioned • A re - estimation of contained Mineral Resources will be carried out in due c ourse

More from Apollo Consolidated Limited


Join Listcorp to create a personalised news feed, follow your favourite companies, save useful news, and more.

By joining Listcorp you agree to our Terms & Conditions and Privacy Policy

Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2021 Listcorp. ABN 60 166 140 307

Never miss news from Apollo Consolidated Limited (ASX:AOP) when you join Listcorp.