Apollo (AOP) has released results from a diamond tail drill hole below the current Rebecca deposit resource pit shell. Hole RCDLR0454 has proved that the Maddy structure propagates at depth with an intercept of 13m at 5.19g/t Au 120m below the current resource. AOP is well funded to continue its drill campaign targeting both resource expansion and new discoveries on it 100% owned Rebecca Project, located 150km ENE of Kalgoorlie. The cash balance as at 31 March 2020 was $16.7m, which is set to increase with the divestment of its stake in Aspire Nord (20% AOP, 80% Exore Resources), holder of the incorporated joint venture (JV) for the Bagoe and Liberty Projects in Côte d’Ivoire. Argonaut maintains a SPEC BUY recommendation with an initial target price of $0.46ps.
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