Each one in plain English, with the numbers worked through for a shareholder.
18 Aug 2026drilling progress report▲ GoodMajor
A 1.8-kilometre access road from the Pan American Highway to the adit portal is finished, all permits are in hand and adit construction remains on track for the fourth quarter of 2026, with underground drilling to start in the first quarter of 2027 at a new Trap East target and then Apollo's Ramp Zone and Plutus.
A hole 30 metres up-dip of an earlier tungsten intercept found a separate tungsten-rich subzone starting about 300 metres below surface: 27.35 metres at 37.55 g/t gold-equivalent (1.68% tungsten trioxide, 11.62 g/t gold, 54 g/t silver, 0.43% copper). It is distinct from the tungsten cap in the top 100 metres and open down dip.
The exploration adit announced in March is progressing, with the explosives storage facility built and ground-breaking expected in the fourth quarter of 2026, and Josue Romanos was hired as vice president, projects. Ned Jalil is now chief executive with Ari Sussman as executive chairman.
Seven holes delineated an outcropping oxide gold-silver corridor at northern Apollo about 700 metres long, 200 metres wide and up to 100 metres deep: 71.20 metres at 1.95 g/t gold-equivalent from surface in APC-165 and 56.00 metres at 1.42 g/t from 12.80 metres. Oxide material at surface is the cheapest ore a project of this kind can have.
Three holes into the previously untested western margin of the Ramp Zone returned 5.30 metres at 37.04 g/t gold from 1,090 metres, 23.15 metres at 4.61 g/t from 1,163 metres and 8.60 metres at 6.51 g/t from 1,316 metres. Only 385 metres of the Apollo breccia body's 1,500-metre circumference has been tested for Ramp-style mineralisation; seven rigs are to be pointed at the rest in 2026.
Colombia's national mining agency granted a title covering an 850-metre northwestern extension of the Trap sheeted vein corridor and a new porphyry anomaly, and the company bought out the last outstanding tenement to hold Trap 100%. Two rigs are to restart there in May - the first drilling at Trap since the 2024 program ended.
The remaining 370 metres of APC150-D1 gave 83.75 metres at 21.14 g/t gold from 1,355 metres below surface, taking the Ramp Zone to 315 metres of strike by 100 metres wide by 350 metres vertically. The hole ended still in mineralisation at 1,450 metres.
Partial assays from one directional hole gave 54.55 metres at 7.04 g/t gold and 16 g/t silver in the upper Ramp Zone at about 1,200 metres depth, with visible gold logged in a further 370 metres of core still awaiting assay. An unusual disclosure: results released before the hole is finished being assayed.
Step-out drilling from surface pushed the Apollo breccia about 30 metres northeast on 165.75 metres at 5.35 g/t gold-equivalent from 8.85 metres, including 31.70 metres at 17.35 g/t, with gold grades up to 40% above the internal model at the body's edge. Four infill holes also beat the model.
58.10 metres at 21.33 g/t gold in APC143-D3, the highest-grade, deepest and most northeasterly Ramp Zone hole yet at up to 1,410 metres below surface. The zone measures 300 metres of strike by 100 metres wide by 310 metres vertically and sits at the elevation of a conceptual underground access tunnel.
Four holes confirmed the tungsten-rich cap continues from surface: 111.15 metres at 5.48 g/t gold-equivalent from 2 metres in APC-154, including 10.85 metres at 41.45 g/t (38.52 g/t gold, 0.82% tungsten trioxide), and 113.65 metres at 2.66 g/t from 4.60 metres. All four came in above the company's internal block model.
Seventeen holes at San Antonio's Pound target confirmed a shallow, high-grade, silver-dominant vein system outcropping over 825 metres of strike - a second grassroots discovery at a project the company had left alone between 2021 and January 2025.
Five holes into undrilled parts of the Apollo breccia returned 467.35 metres at 1.63 g/t gold-equivalent from 170.10 metres in APC142-D2 and 261.35 metres at 1.63 g/t in APC144-D1, and a mother hole cut the Hanging Wall Vein Zone 200 metres further south at 19.40 metres at 1.55 g/t.
The deepest and most northeasterly Ramp Zone hole so far returned 24.80 metres at 29.42 g/t gold inside 63.90 metres at 13.46 g/t - the highest-grade intercept the company has reported at Apollo - taking the zone to 315 metres of strike by 300 metres vertically.
Filed its first NI 43-101 technical report on Guayabales, by consulting geologist Stewart Redwood, effective 15 September 2025. It states plainly that there are no mineral resource estimates for the project prepared to CIM standards - after roughly five years and more than 200,000 metres of drilling, Apollo still has no ounce count behind it.
Directional holes collared well outside the known Apollo breccia unexpectedly cut thick gold-rich sheeted veinlets - 61.30 metres at 1.78 g/t and 130.40 metres at 1.15 g/t gold-equivalent - defining a Hanging Wall Vein Zone that extends Apollo up to 450 metres north and reaches toward surface. Lower grade than the breccia, but a large new volume.
Three orthogonal holes took the Ramp Zone to 300 metres of strike by 270 metres vertically, on 23.35 metres at 8.24 g/t gold inside 76.10 metres at 3.26 g/t. Apollo is continuously mineralised over more than 1,370 vertical metres and the Ramp Zone is open in all directions.
Started a multi-hole program into the outcropping tungsten-rich cap of Apollo, with coarse scheelite and chalcopyrite already visible in the first hole's core. Apollo is now continuously mineralised from surface to more than 1,300 vertical metres.
Thirteen holes filling gaps in the top 1,000 metres of Apollo returned 486.00 metres at 2.01 g/t gold-equivalent in APC-141 and pushed the western edge out 50 metres. The company also flagged plans to drill up to 100,000 metres in 2026, which would be its largest program yet.
An exploration update reporting visually significant mineralisation in step-out core from the Ramp Zone and from San Antonio's Pound target, with ten rigs running toward about 60,000 metres for 2025. Visual logging is not an assay and the company says so; the numbers were still to come.
Two holes stretched the Ramp Zone about 200 metres east and 50 metres northeast: 50.50 metres at 5.66 g/t gold and 13 g/t silver in APC103-D6, and 70 metres at 2.00 g/t gold in the deepest Ramp hole yet. The zone now measures roughly 275 metres of strike by 200 metres vertically and is open in every direction.
Two first holes at the X target cut silver-dominant veins over a 500m by 500m area - 12.85 metres at 503 g/t silver-equivalent (361 g/t silver, 1.82 g/t gold) in XTC-1 - a new greenfield discovery, with soil sampling pointing northeast for the next holes.
A vertical hole 250 metres south of the San Antonio discovery hole cut 172.40 metres at 1.88 g/t gold-equivalent (1.40 g/t gold) and was stopped early, still in strong mineralisation, because the rig could go no deeper. The porphyry footprint at Pound is growing.
Four shallow holes returned 183.70 metres at 3.01 g/t gold-equivalent from 37.30 metres in APC-134 and 37.15 metres at 7.05 g/t in APC-136, the latter carrying 0.73% tungsten trioxide. A second large rig arrived for the Ramp Zone.
Five more shallow holes gave 442.35 metres at 2.16 g/t gold-equivalent from surface in APC-125, again bottoming in mineralisation, and 325.10 metres at 2.03 g/t from 8 metres in APC-126.
Six shallow holes returned 397.50 metres at 2.62 g/t gold-equivalent from surface in APC-122 - 1,041 gram-metres - with the hole ending while still in strong mineralisation, plus 135.20 metres at 2.71 g/t from surface in APC-119.
A hole at the ME target southeast of Apollo cut 0.65 metres at 534 g/t gold. Drilling was then stopped mid-hole when a new gravity survey showed both holes had been collared outside the gravity high; the company reads the intercept as leakage from a larger body to the south and has recollared into the anomaly.
Found a second high-grade subzone, HZ2, this one copper and silver rich: 114.40 metres at 4.14 g/t gold-equivalent (150 g/t silver, 0.64% copper) in APC107-D5. The original gold-rich HZ1 from December was pushed 50 metres west and now measures 230 metres of strike.
The first eight holes of a thirty-hole shallow program aimed at designing a starter pit cut tungsten-dominant rock at surface: 124 metres at 3.03 g/t gold-equivalent, or 0.66% tungsten trioxide equivalent, from surface in APC-115. The top 150 metres of Apollo turns out to be a distinct tungsten, copper, silver and gold zone - a critical mineral the company had not been marketing.
A hole into the northern Pound target at San Antonio found a gold-copper porphyry stockwork: 290.20 metres at 0.84 g/t gold-equivalent (0.58 g/t gold, 0.17% copper) including 40.90 metres at 1.44 g/t. Porphyry grade, not Apollo grade - the value would come from scale.