Peel Mining has reported a 48 per cent increase in the resource estimate for its Apollo Hill gold project near Leonora.
Peel announced today drilling programs had upped the resource estimate at Apollo to 505,000 ounces of gold, a 48 per cent jump on the previous estimate from December 2010.
The company said further exploration work would now be carried out to obtain a better understanding of the mineralisation.
At close of trade today, Peel’s stocks had gained 3.4 per cent, to trade at 15 cents.
