# AON: September 2026 Quarterly Report Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54 Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03155460 Publisher: asx Original announcement: 2026-10-21T21:17:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-21T22:44:17.370Z Atlas analysis updated: 2026-10-21T22:44:17.370Z - Company: Apollo Minerals Limited - Ticker: AON - Exchange: ASX - Region: France - Primary commodity: Tungsten - Secondary commodities: Gold, Zinc, Lead, Copper - Document categories: Other, Drill results - Extracted: 2026-10-21 22:44:18 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Apollo Minerals' quarterly report details significant progress, including the reinstatement of the Couflens exploration permit in France and the definition of an initial JORC-compliant Exploration Target for the Kroussou Zinc-Lead Project in Gabon. The company also reported on historical data reviews at Couflens, which identified new target zones and re-stated high-grade historical drill and surface sample results for tungsten and gold. Financially, Apollo Minerals maintains a strong cash position of $6.4 million. Reasoning: Apollo Minerals' quarterly report highlights significant progress, including the reinstatement of the Couflens exploration permit, which is a major de-risking event. The company also announced a substantial initial Exploration Target for the Kroussou project and maintains a strong financial position. While the drill results are historical, their re-evaluation supports future exploration, and high-grade surface samples confirm prospectivity. The discrepancy with global peer tungsten grades is likely due to comparing in-situ grades with concentrate grades. - Positive factor: Couflens exploration permit reinstated - Positive factor: strong cash position - Positive factor: initial JORC-compliant Exploration Target for Kroussou - Positive factor: geophysical survey completed for Couflens - Positive factor: historical data review identified new target zones for future drilling - Negative factor: drill results presented are historical, not new assays - Negative factor: grades for historical tungsten intercepts are below the project's historical average - Negative factor: peer comparison for tungsten grades suggests these are not globally exceptional \(likely due to comparison with concentrate grades\) Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 19 ## Classification and evidence **QP/CP Signed** Polarity: positive Story-specific tag Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Ms Vannessa Clark-Mostert, a Competent Person, is named and consents to the inclusion of information related to the Kroussou Exploration Target. Evidence · text > The information in this announcement that relates to the estimation of the Exploration Target is based upon information compiled by Ms Vannessa Clark-Mostert, a Competent Person who is a member of the South African Council for Natural Scientific Professionals Pr. Sci. Nat. No. 400161/07. and a fellow of the Geological Society of South Africa. Ms Clark-Mostert is an independent consultant to Apollo Minerals and has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” \(JORC Code\). Ms Clark-Mostert consents to the inclusion in the announcement of the matters based on their information in the form and context in which it appears. **JORC Compliant** Polarity: positive Story-specific tag Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Kroussou Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. Evidence · text > The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. **Stale Data Re-release** Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The document re-states historical drill and surface sample results from previous exploration programs, not new assays from the current quarter. Evidence · text > Historical data reviews defined the new Véronique-Upper Zone, which exhibits intercepts of up to 4.3m @ 1.3% WO3 **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The historical drill intercepts are given as downhole widths without true width or drill orientation information. Evidence · text > 4.3m @ 1.3% WO3 **No QA/QC Disclosure** Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Why it applies: No specific QA/QC procedures are disclosed for the re-stated historical drill and surface sample results. Evidence · text > Historical data reviews defined the new Véronique-Upper Zone, which exhibits intercepts of up to 4.3m @ 1.3% WO3 ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Drill Results (11) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-0) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.3 - Grade Unit: % - Intercept: 4.3 m #### Classification - Sample Type: drill #### Location - Location: Véronique-Upper Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a narrow width, but is not new information. - Positive factor: historical data review highlights potential - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 4.3m @ 1.3% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > Historical data reviews defined the new Véronique-Upper Zone, which exhibits intercepts of up to 4.3m @ 1.3% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 4.3m @ 1.3% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > Historical data reviews defined the new Véronique-Upper Zone, which exhibits intercepts of up to 4.3m @ 1.3% WO3 ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-9) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.4 - Grade Unit: % - Intercept: 20 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 20.0m @ 1.4% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 20.0m @ 1.4% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 20.0m @ 1.4% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 20.0m @ 1.4% WO3 ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-10) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.6 - Grade Unit: % - Intercept: 12.6 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 12.6m @ 1.6% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 12.6m @ 1.6% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 12.6m @ 1.6% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 12.6m @ 1.6% WO3 ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-11) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 2.1 - Grade Unit: % - Intercept: 9.2 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 9.2m @ 2.1% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 9.2m @ 2.1% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 9.2m @ 2.1% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 9.2m @ 2.1% WO3 ### Fact 5 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-12) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 2 - Grade Unit: % - Intercept: 9.1 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 9.1m @ 2.0% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 9.1m @ 2.0% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 9.1m @ 2.0% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 9.1m @ 2.0% WO3 ### Fact 6 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-13) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.7 - Grade Unit: % - Intercept: 9.5 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 9.5m @ 1.7% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 9.5m @ 1.7% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 9.5m @ 1.7% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 9.5m @ 1.7% WO3 ### Fact 7 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-14) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 2.1 - Grade Unit: % - Intercept: 7.6 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 7.6m @ 2.1% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 7.6m @ 2.1% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 7.6m @ 2.1% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 7.6m @ 2.1% WO3 ### Fact 8 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-15) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 2.9 - Grade Unit: % - Intercept: 5.4 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, above the project average, but is not new information. - Positive factor: moderate grade over good width - Positive factor: above project average grade - Negative factor: stale data re-release - Negative factor: apparent width only Evidence · text > 5.4m @ 2.9% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 5.4m @ 2.9% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 5.4m @ 2.9% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 5.4m @ 2.9% WO3 ### Fact 9 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-16) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 3 - Grade Unit: % - Intercept: 5.1 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, above the project average, but is not new information. - Positive factor: moderate grade over good width - Positive factor: above project average grade - Negative factor: stale data re-release - Negative factor: apparent width only Evidence · text > 5.1m @ 3.0% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 5.1m @ 3.0% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 5.1m @ 3.0% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 5.1m @ 3.0% WO3 ### Fact 10 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-17) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.4 - Grade Unit: % - Intercept: 10.7 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 10.7m @ 1.4% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 10.7m @ 1.4% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 10.7m @ 1.4% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 10.7m @ 1.4% WO3 ### Fact 11 [Link to this fact](https://atlas-staging.minestarters.com/news/aon-september-2026-quarterly-report--1a88c7f3-8bb3-4cb5-836f-95ca0e37cc54#fact-drill-facts-18) Couflens · tungsten Historical result Needs review: drill\_no\_hole\_id #### Identity - Project: Couflens - Commodity: tungsten - Region: france - Reported Region: france - Ticker: AON #### Geometry - Grade: 1.9 - Grade Unit: % - Intercept: 7.7 m #### Classification - Sample Type: drill #### Location - Location: Véronique Zone - Loc. Source: document #### QA/QC - QP Signed: No - QA/QC Methods: standards #### Deleterious - Deleterious Flag: No #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: Yes #### Dates - Event date: 2026-10-21T00:00:00.000Z Reasoning: Historical intercept from data review, showing moderate tungsten grade over a good width, but is not new information. - Positive factor: moderate grade over good width - Negative factor: stale data re-release - Negative factor: apparent width only - Negative factor: below project average grade Evidence · text > 7.7m @ 1.9% WO3 #### Tags used in scoring **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated #### Rejected tags **Stale Data Re-release** — Rejected; excluded from scoring Polarity: negative Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Reason: Historical intercept from data review, not new drilling. Evidence · text > 7.7m @ 1.9% WO3 **Apparent Width Only** — Rejected; excluded from scoring Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Reason: Intercept length is given as downhole width without true width or drill orientation. Evidence · text > 7.7m @ 1.9% WO3 **No QA/QC Disclosure** — Rejected; excluded from scoring Polarity: negative Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document. Reason: No specific QA/QC procedures are disclosed for this historical intercept. Evidence · text > The review identified a number of significant historical intercepts adjacent to the Véronique Zone \(Figure 2\) including: o 7.7m @ 1.9% WO3 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.