Adelong Gold has executed a binding purchase agreement to acquire a 100% interest in EL6430, to be named the Apollo Gold Project, in Victoria, Australia.
EL6430 encompasses 102 km² of the under-explored northern end of the prolific Walhalla Gold belt.
Visible Gold in Apollo Project drill core
The Walhalla Gold Belt in Victoria, Australia, is a historically rich and geologically significant region that played a major role in the 19th-century Victorian gold rush.
Known for its high-grade gold deposits, often found in quartz veins within metamorphic rocks, the area produced substantial amounts of gold, with mines like the Long Tunnel Extended yielding exceptionally rich ore (average grade of 30 g/t au).
Despite its historical prominence, the region remains underexplored using modern techniques, offering strong potential for new discoveries.
Geological targeting and drilling to date has successfully identified:
- Disseminated, intrusion-related (IRG) gold mineralisation along the granite contact zone & ‘Dig Fault’ zone.
- Epizonal gold deposits associated with shear/fault systems with disseminated arsenopyrite, pyrite & stibnite sulphide halos such as at Maindample and Heyfield Reefs.
Apollo Project – ‘Dig Fault’ Zone
Drilling intercepts to date at the ‘Dig Fault’ zone demonstrate:
✔ A high grade ‘centre’ associated with the ‘Dig Fault’ surrounded by a mineralised halo of sulphide providing significant width to the mineralisation.
✔ The ‘Dig Fault’ width varies locally, but the broad mineralised envelope remains consistent over 10’s of meters (GMDH055 19m at 1.7 g/t Au, GMDH058 – 30m at 1.3 g/t Au)
Several other ‘Dig’ like fault zones occur in the immediate area, such as at Wolfe’s and Faulk’s historic open cuts, east of Apollo that remain largely untested.
Apollo Gold Project Longitudinal section of the ”Dig Fault” zone
Notable Drilling Intersections (‘Dig Fault’ Zone)
➤ Hole 22GMRC12 intersected 77.0m @ 1.14 g/t au
➤ Hole GMDH26 intersected 5.8m @ 18.14 g/t au
➤ Hole GMDH28 intersected 39.5m @ 7.25 g/t au
➤ Hole GMDH30 intersected 27.6m @ 6.66 g/t au
➤ Hole GMDH31 intersected 29.0m @ 2.21 g/t au
➤ Hole GMDH32 intersected 60.8m @ 2.50 g/t au
➤ Hole GMDH34 intersected 23.0m @ 3.06 g/t au
➤ Hole GMDH35 intersected 47.0m @ 2.67 g/t au
➤ Hole GMDH36 intersected 8.3m @ 6.91 g/t au (58.5m to 66.8m)
➤ Hole GMDH36 intersected 28.0m @ 3.02 g/t au (75.0m to 103.0m)
➤ Hole GMDH36 intersected 28.0m @ 10.17 g/t au (138.0m to 166.0m)
➤ Hole GMDH37 intersected 41.3m @ 2.36 g/t au
➤ Hole GMDH43 intersected 36.2m @ 1.90 g/t au
➤ Hole GMDH45 intersected 55.1m @ 3.06 g/t au
➤ Hole GMDH50 intersected 29.0m @ 2.46 g/t au
Golden Mountain – ‘Granite’ Contact
✔ Encouraging recent drilling at the east-west striking ‘granite’ contact zone has highlighted the potential for additional bulk tonnage gold mineralisation along the granite contact.
✔ Best intercepts (e.g. 77m @ 1.15 g/t Au in 22GMRC12) occur where north-south oriented faults intersect the granite contact and is open at depth.
✔ These mineralised zones may form pipe-like bodies at depth.
✔ Low-grade mineralisation (GMDH052 – 33.5m at 0.6 g/t Au, GMDH053 – 38.7m at 0.8 g/t Au) has been identified greater than 100m from the influence of the ‘Dig Fault’ zones along the granite contact.
✔ The gold mineralisation can occur in a variety of structural ‘trap’ sites or fault zones along the granite contact.
✔ An anomalous gold in soil zone has been identified over a strike length of 1km along the granite contact.
✔ Recent outcrop rock sampling of the granite contact zone east of Apollo has 25 samples averaging 2.1 g/t Au with a maximum of 18.7 g/t Au.
DATE: 13/02/25
TICKER: ADG
SOI (UNDILUTED): 1,117,988,958
SHARE PRICE: $0.006
MARKET CAP (UNDILUTED): $6.14M
CASH (APPROX): $2.10M
EV: $4.04M