Adelong Gold Apollo Project Results Reveal Promising Mineralisation

Adelong Gold Apollo Project Results Confirm High-Grade Gold Potential

Adelong Gold's (ASX:ADG) maiden diamond drilling program at the Apollo Gold & Antimony Project in Victoria has delivered compelling results, confirming broad mineralised zones and high-grade intercepts beneath historical workings. The Adelong Gold Apollo Project results validate the company's geological model within the Dig Fault Zone through a program comprising four diamond drill holes totalling 1,054.1 metres.

These findings establish Apollo as a promising gold system with significant resource potential, particularly given its location in Victoria's productive goldfields region.

Impressive Gold Intersections Demonstrate Mineralisation Continuity

The maiden drilling program at the Adelong Gold Apollo Project returned several significant gold intersections that reinforce Apollo's potential as a substantial gold system:

• 27.0m @ 1.69 g/t Au from 255.0m in hole AA2501, including:

  • 1.69m @ 7.58 g/t Au from 263.31m
  • 4.60m @ 2.99 g/t Au from 267.00m
  • 5.13m @ 2.06 g/t Au from 276.87m

• 5.8m @ 3.26 g/t Au from 290.2m in AA2501, including 2.50m @ 5.43 g/t from 290.20m

• 10.9m @ 3.26 g/t Au from 69.1m in AA2504, including 6.0m @ 5.36 g/t Au from 74.0m

• 13.0m @ 1.61 g/t Au from 54.0m in AA2503, including 3.01m @ 5.26 g/t Au from 63.49m

These new results strongly support historical drill intercepts previously announced by Adelong Gold, which included notable intersections such as 39.5m @ 7.25 g/t Au (including 10.6m @ 17.1 g/t Au) and 28m @ 10.2 g/t Au (including 13m @ 17.5 g/t Au).

"These maiden assay results at Apollo represent an important step forward for Adelong Gold and validate our geological model within the Dig Fault Zone. The continuity of mineralisation beneath historic workings highlights Apollo's strong potential for significant resource growth," said Ian Holland, Adelong Gold's Managing Director.

Mineralisation Characteristics and Geological Setting

The Adelong Gold Apollo Project results indicate that Apollo exhibits characteristics of an epizonal gold-antimony system, similar to other high-value deposits in Victoria's Melbourne Zone. The mineralisation occurs within the Dig Fault Zone, a near-vertical north-south oriented structure containing strongly faulted and broken metasediments.

Gold at Apollo has been identified in multiple forms:

• As electrum and calaverite (gold-tellurium minerals) in very fine-grained (15 μm) disseminations
• As free gold grains (10-50 μm)
• Associated with quartz-muscovite veins and stockwork stringers

The presence of gold-tellurium mineralisation is particularly significant, as it supports an intrusive-related system similar to other notable Victorian deposits including Belltopper (Malmsbury), Mt Piper and Myrtle Creek.

What Makes Epizonal Gold-Antimony Systems Significant?

Epizonal gold-antimony systems represent an important class of gold deposits in Victoria's goldfields. These systems typically form at relatively shallow depths in the earth's crust and have several distinctive characteristics:

• Formation environment: They develop in association with intrusive rock activity
• Mineral associations: Often contain antimony (typically as stibnite) alongside gold
• Gold occurrence forms: Gold appears in various forms including native gold, gold tellurides, and gold-antimony minerals
• Distribution patterns: They frequently display disseminated mineralisation in addition to vein-hosted gold

These systems can produce significant high-grade deposits, as demonstrated by the world-class Fosterville mine and the nearby Costerfield operation, which produces both gold and antimony.

Multiple Growth Opportunities Beyond Current Findings

The Adelong Gold Apollo Project results point to several avenues for resource expansion:

1. Granite Contact Extensions: Recent work confirms that gold-bearing shoots extend along the Strathbogie Granite contact, a corridor that remains largely untested and represents a high-priority exploration target.

2. Strike Length Expansion: A newly lodged exploration license application extends Apollo's prospective strike length to the south, significantly enlarging the exploration footprint.

3. Gold-Antimony Potential: The project also hosts antimony mineralisation at the Heyfield Reef prospect, with historical drilling returning significant results including 3m @ 5.2 g/t Au + 3.4% Sb (antimony) and 1m @ 26.5 g/t Au.

Furthermore, the style of mineralisation observed at Apollo shares key structural and geological similarities with Southern Cross Gold's Sunday Creek project, where high-grade epizonal mineralisation has attracted significant market attention and exploration success.

Strategic Development Pathway

With these encouraging initial results, Adelong Gold is advancing on two fronts:

1. Resource Modelling: The company is progressing toward an initial resource model based on the confirmed continuity of mineralisation.

2. Follow-up Drilling: Additional drilling will target both infill areas and extensions of known mineralisation, with particular focus on testing the down-dip and along-strike potential.

The Adelong Gold Apollo Project results provide a strong foundation for these next steps in project development.

Adelong Gold's Diversified Asset Portfolio

While Apollo represents an exciting gold exploration opportunity, Adelong Gold maintains a diversified portfolio that reduces risk and provides multiple avenues for value creation:

• Adelong Goldfield Project (NSW): Hosts a 188,000oz gold resource with a pathway to production through a farm-in agreement with Great Divide Mining.

• Lauriston Gold and Antimony Project (Victoria): A 28,700-hectare tenement adjacent to the Fosterville Mine, hosting the high-grade Comet discovery with drill results including 8.0m at 104 g/t Au.

• Brazil Lithium Portfolio: Strategic tenements in Brazil's "Lithium Valley" and Borborema Region, providing exposure to the global energy transition.

Investment Considerations

The Adelong Gold Apollo Project results highlight several aspects that make the company worthy of investor consideration:

1. Near-term production potential at the Adelong Goldfield Project through partnership with Great Divide Mining

2. High-grade exploration upside at both the Apollo and Lauriston projects in Victoria's prolific gold province

3. Dual commodity exposure with both gold and antimony potential at Apollo and Lauriston, plus lithium exposure through Brazilian assets

4. Strategic positioning in Victoria's Melbourne Zone, home to world-class gold discoveries

5. Experienced technical leadership with expertise in Victorian gold systems

Conclusion: Strong Foundation for Future Growth

The Adelong Gold Apollo Project results have established a solid foundation for the company's continued exploration and development efforts. By confirming the geological model and demonstrating significant gold mineralisation, these initial findings validate Adelong Gold's strategic focus on this prospective Victorian asset.

As the company advances toward resource definition while continuing to test Apollo's substantial exploration potential, investors have multiple potential catalysts ahead that could drive value creation across Adelong's diversified portfolio of gold, antimony, and lithium assets.

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