Highlights

  • Apollo Minerals received a five-year reinstatement of the Couflens exploration permit in southern France, covering 42 km² and including the historic Salau tungsten mine.
  • The Salau mine historically produced approximately 930,000 tonnes at 1.5% WO₃, with later grades up to 2.5% WO₃.
  • The surface and underground sampling has recorded tungsten grades up to 8.25% WO₃ and gold values up to 24.5 g/t Au.
  • Drilling has confirmed mineralisation continues below existing workings.

Apollo Minerals Limited (ASX: AON) shares surged 200% to AUD 0.030 on 27 January following confirmation that the company’s Couflens high-grade tungsten-gold exploration permit in southern France has been formally reinstated for a five-year term. The notification was received from the Directorate General for Energy and Climate of the French Ministry, restoring Apollo’s rights over the project area.

Couflens Permit Reinstated for Five Years

The Couflens Project is located in the Pyrenees region of southern France and covers approximately 42 square kilometres. The permit area includes the historic Salau mine, which operated between 1971 and 1986 and was previously recognised as one of the world’s highest-grade tungsten operations during its period of production.

Historical records indicate Salau produced approximately 930,000 tonnes of ore grading 1.5% WO₃, yielding around 13,950 tonnes of tungsten trioxide concentrate. Production grades reportedly increased to as much as 2.5% WO₃ in the latter years of mining.

Tungsten and Gold Mineralisation Indicators

In addition to tungsten, historical sampling across the Couflens Project has identified significant gold mineralisation associated with tungsten-bearing zones. Gold values of up to 24.5 g/t Au have been recorded in surface rock chip samples.

Additional historical results include gold grades of up to 8.9 g/t Au from tailings samples, 8.5 metres at 3.4 g/t Au with 2% WO₃ in partially sampled core, and 8 metres at 9.5 g/t Au with 2.4% WO₃ from underground channel samples.

Surface sampling has also confirmed widespread tungsten mineralisation, with rock chip samples returning grades of up to 8.25% WO₃.

Depth Potential and Regional Upside

Previous drilling below the base of existing underground development confirmed that mineralisation continues at depth. Gold mineralisation has been identified down to approximately 600 metres, indicating vertical continuity.

Beyond the Salau mine area, exploration potential extends along a regional structural corridor measuring approximately five kilometres to the west. This corridor is associated with major fault structures that may host shear-related gold mineralisation.

Strategic Commodity Focus

Tungsten is classified as a strategic material due to its applications in green technologies, aerospace, and defence. The European Union has designated tungsten as a “Critical Raw Material,” while the British Geological Survey lists it among the ten most critical minerals.

Apollo Minerals has commenced a review of historical data and is progressing exploration planning to define future programs at Couflens.