Apollo Minerals continues to make progress with the revitalisation of the Couflens tungsten-gold project
Apollo has an attractive land package in France and Spain, including former producing mine
- Highly attractive tungsten project
- Brownfields site
- Experienced mining industry professionals backing the project
- Strong commodity product mix
What Apollo Minerals does
Apollo Minerals Ltd (ASX:AON) is a mining development company backed and staffed by experienced industry professionals. Chairman Ian Middlemas and non-executive Robert Behets were both key players in the creation of uranium specialist Mantra Resources, which was sold in 2011 for over US$1bn. They have also been responsible for the creation and success of numerous other companies, including Prairie Mining and Papillon. Long-time associate Hugo Schumann is making most of the running operationally, as executive director.
What Apollo Minerals owns
Apollo Minerals the Couflens tungsten and gold asset in France, as well as the adjacent Aurenere project which sits on the other side of the border in Spain.
The Couflens project comprises an exploration license that covers a 42 square kilometre area in the Pyrenees region, and includes the historic Salau mine, which was one of the world's highest grade tungsten mines when it operated from 1971 to 1986.
Over its 15 years of operations the mine produced approximately 930,000 tonnes of ore at an average grade of 1.5% tungsten trioxide (WO3) to yield approximately 11,500 tonnes of WO3 in concentrate.
The mine, which closed in 1986 when prices were much lower than today, remains open at depth and has significant gold upside.
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