Amara Minerals Hits 57.5m at 2.62g/t Gold at Apollo Ahead of Maiden Resource
Key Takeaways
- First diamond drill hole AA2601 at Apollo returned 57.5m at 2.62 g/t Au from 139.5m, including a higher-grade core of 20m at 5.13 g/t Au — the width and grade the company says is needed to support a maiden MRE.
- The higher-grade core contains a 10m interval at 8.04 g/t Au and multiple 1m hits above 8 g/t Au, demonstrating episodic high-grade continuity within the broader mineralised envelope.
- Two additional holes (AA2602 and AA2603) are at the laboratory with assays anticipated mid to late September 2026, while a fourth hole AA2604 is currently being drilled.
- The Dig Fault Zone remains open at depth, with a further three holes totalling approximately 2,000m planned to test depth extensions — meaning the scale of any future resource could grow materially.
- Apollo is 100% owned by Amara Minerals across 102km² in Victoria's Melbourne Zone and also hosts antimony-bearing stibnite, adding commodity optionality beyond gold.
High-grade gold confirmed at Apollo as AM3 advances towards maiden resource
Amara Minerals (ASX:AM3) has reported a significant high-grade gold intercept from the first diamond drill hole at its Apollo Gold and Antimony Project in central Victoria, with hole AA2601 returning 57.5m at 2.62 g/t Au from 139.5m, including a higher-grade core of 20m at 5.13 g/t Au from 139.5m. The result comes from Amara’s first diamond drill programme at Apollo, with three holes now completed for 862.5m of total drilling. The company is advancing the programme with a potential maiden Mineral Resource Estimate (MRE) in view, though no MRE has been estimated for the Apollo Project at the date of this announcement.
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Q1 FY27 drilling at the Dig Fault Zone — what the results show
The three holes drilled to date are targeting the upper Dig Fault Zone, a near-vertical, north-south oriented structure within strongly faulted metasediments. The objective is to potentially extend and increase the higher-grade core of the mineralisation, building the geological data needed to evaluate a potential maiden MRE.
AA2601 is the only hole for which assays have been received. Its result demonstrates both meaningful width and solid grade within the Dig Fault Zone, with estimated true widths of approximately 20m for the broad intercept and approximately 7m for the higher-grade core. All intercepts are reported as drilled widths.
Drill hole AA2601 — assay breakdown
The headline intercept of 57.5m at 2.62 g/t Au from 139.5m contains several notable sub-intervals that illustrate grade continuity within the broader envelope:
- 20m at 5.13 g/t Au from 139.5m (higher-grade core, estimated true width approximately 7m)
- 10m at 8.04 g/t Au from 141.0m
- 20.6 g/t Au over 1m (143–144m)
- 8.58 g/t Au over 1m (150–151m)
- 8.34 g/t Au over 1m (146–147m)
- 8.26 g/t Au over 0.7m (189.8–190.5m)
These episodic high-grade hits within the broader gold envelope are consistent with the style of mineralisation at the Dig Fault Zone.
Ian Holland, Managing Director
“The first hole at Apollo has returned 57.5 metres at 2.62 grams per tonne gold, with a higher-grade core of 20 metres at 5.13 grams per tonne. That is the width and grade we need to see to support a maiden Mineral Resource at Apollo. Two more holes are at the laboratory, and the rig is now testing the Dig Fault Zone at depth, where mineralisation remains open.”
Status of remaining holes
Logging of AA2602 is complete, with samples currently undergoing assay at the laboratory. Logging and sampling of AA2603 is underway, while drilling of a fourth hole, AA2604, is in progress. Assays for AA2602 and AA2603 are anticipated in mid to late September, subject to laboratory throughput.
What is a Mineral Resource Estimate — and why does this intercept matter?
A Mineral Resource Estimate (MRE) is a formal, independently verified calculation of how much mineralised material exists at a project, classified by confidence level: Inferred (least certain), Indicated, and Measured (most certain). Under the JORC Code — Australia’s standard for reporting mineral resources — a company must demonstrate sufficient geological and grade continuity before an MRE can be published.
For a junior explorer, completing a maiden MRE is a significant de-risking milestone. It converts a geological target into a quantified asset, which the market can begin to value. That is why investors pay close attention to intercepts like AA2601: width and grade at the right scale are necessary preconditions for modelling a resource, even though they do not guarantee one will be defined.
“Mineralisation open at depth” means the gold-bearing zone has not been closed off by drilling at its lower boundary. The zone could extend further below the currently drilled levels, which is why the ongoing programme is specifically designed to test those depth extensions.
| Term | Plain-language meaning | Relevance to AM3 |
|---|---|---|
| Mineral Resource Estimate (MRE) | A formal, JORC-compliant calculation of mineralised material, classified by geological confidence (Inferred, Indicated, Measured) | No MRE currently exists for Apollo. The current programme is designed to support the evaluation of a potential maiden MRE |
| Drilled width vs true width | Drilled width is the length measured along the drill hole. True width is the actual thickness of the mineralised zone, adjusted for the angle between the drill hole and the structure | AA2601’s broad intercept of 57.5m drilled width equates to an estimated true width of approximately 20m; the higher-grade core of 20m drilled width equates to approximately 7m true width |
| Mineralisation open at depth | Drilling has not yet reached the bottom boundary of the gold-bearing zone, meaning it may extend further downward | The Dig Fault Zone remains open at depth. Successful extensional intercepts below current drilling levels would increase the scale of any resource that may subsequently be estimated |
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What’s next — depth extensions, more assays, and Lauriston return
The near-term programme pipeline for Apollo is as follows:
- Assays for AA2602 and AA2603 are anticipated in mid to late September 2026, subject to laboratory throughput
- Drilling of AA2604 is in progress
- A further three holes, totalling approximately 2,000m, are planned to test Dig Fault Zone extensions at depth, subject to ongoing review of results received
- The drill rig is planned to return to the Lauriston Gold and Antimony Project in the December quarter 2026, on completion of the Apollo programme
Apollo sits within Victoria’s Melbourne Zone and is 100% owned by Amara Minerals across 102km². The project also hosts antimony-bearing stibnite, providing additional commodity optionality similar to the nearby Costerfield and Sunday Creek deposits, though mineralisation at those projects does not guarantee similar results at Apollo.
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