Oct 27 (Reuters) - Apollo Consolidated Ltd AOP.AX :
* Subsidiary of Newcrest Mining Limited has exercised an option to purchase Seguela gold project in Cote D'ivoire
* Exercise of option triggers payment of first instalment of a total of us$3.5m in consideration payments
* Option rights held pursuant to an agreement between newcrest and shareholders of an ivorian subsidiary company 80% owned by apollo
* Intends to utilise funds to step-up exploration drill-testing at its 100% owned trench zone gold discovery at boundiali Source text for Eikon: Further company coverage: AOP.AX