AON - Apollo Minerals acquires high quality copper project

(NewsDirect)

Apollo Minerals Ltd(ASX:AON) MD Neil Inwood speaks with Proactive soon afterannouncing the company has acquired the Belgrade Copper Project inSerbia, Europe.

The project is made up of four licences covering 202 squarekilometres which formed part of the Serbian copper exploration projectportfolio held by Reservoir Minerals Inc. when they were acquired byNevsun Resources Ltd in 2016 in a deal worth US$365 million andsubsequent US$1.4 billion takeover by Zijin Mining Group Co in 2018.Inwood says the project is a great complement to Apollo Minerals’existing Gabon base metals focus in the Kroussou Zinc-LeadProject.

Inwoodsaid in the announcement: “Apollo Minerals is thrilled to secure anexcellent portfolio of European copper exploration ground withinSerbia's renowned Carpatho-Balkanian Metallogenic Province. TheBelgrade Copper Project has a compelling exploration thesis which theteam are extremely excited to test.

“Reservoir Minerals, who put the Projecttogether, discovered the 20 million tonne Cukaru Peki copper depositsat Bor and consequently did not focus on the highly prospective groundwe have acquired. Serbia is currently Europe's second-largestcopper producer and I am convinced there are world classsedimentary-hosted copper discoveries to be made in the region. Wehave already been on the ground and were impressed with the moderninfrastructure, local mining knowledge, and highly skilled localworkforce.

“This acquisitioncomplements our existing zinc-lead base metals focus in Gabon, whilepresenting a positive diversification into copper. With minimaldilution to existing shareholders and a compelling copper prospect ina favorable jurisdiction, the proposed Edelweiss acquisitiondemonstrates our focus on value creation through acquisition,exploration, and discovery.”

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Proactive Investors

JonathanJackson

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