No Data Available
Apollo Minerals Limited (AON)
is a publicly listed company on the Australian Securities Exchange (ASX).
About Apollo Minerals
Apollo Minerals is a Sydney based, exploration company listed on the Australian Securities Exchange (ASX code: AON). The Company’s growth strategy is focused on the discovery and development of mineral resources, electing to pursue projects with near mine potential and close to established infrastructure. Further growth is expected through identification and investment in advanced mineral exploration opportunities within highly prospective geological terrains and politically stable jurisdictions allowing for project development and maturity.
Commonwealth Hill Iron Oxide Copper Gold Joint Venture
In the Gawler Craton of South Australia the Company holds 100% owned tenements covering ~795 sq km, and two farm-in JV areas covering 672 sq km where Apollo is earning 75% interest. In February 2014, a strategic alliance between Apollo and HPX was agreed to explore for IOGC deposits across 770 sq km of Apollo's 100% tenements. Apollo retains exclusive access to its Mars and Sequoia areas (25 sq km) to evaluate iron and other minerals potential.
HPX is a private metals-focused exploration company deploying propriety geophysical technologies to explore and evaluate geological targets, combining leading geological and geophysical expertise with innovative, ground-breaking technology. HPX will deploy its state-of-the-art geophysical methodologies across potential IOCG targets across the Commonwealth Hill IOCG JV area.
Apollo continues to progress exploration on its existing JV areas, earning 75% interest in the Eaglehawk JV, and the Aurora Tank JV areas.
Fraser Range Nickel
The Company has 70% interest in the Orpheus Nickel JV Project covering 665 sq km in the high density zone of the Albany-Fraser Belt. Previous exploration including EM, soil geochemistry and drilling has intersected primary nickel sulphides up to 3,300ppm Ni and 2,200ppm Cu. The Project is located within the highly prospective part of the Fraser Zone and within 30km from the Nova-Bollinger mine which is currently under construction. The Fraser Range is an emerging world class nickel province which has potential to develop into a district hosting a number of mines.
Kango North Iron
Apollo Minerals has a 82.5% interest in the Kango North Iron Project covering ~400 sq km in Gabon, on the west coast of Central Africa. The project has an estimated exploration target1 of 2.0 - 3.5Bt grading 30-40% Fe including 75-150Mt grading 45-60% Fe, and situated near major road, rail, ports and power infrastructure. Test work on surface samples demonstrate a high-grade concentrate product of 69% can be produced. A concept study to define a potential path to production for a near-term, small-scale iron ore mine has been completed. The Company is progressing exploration towards drilling for mineral resource estimation.
Apollo has entered into a range of farm-in joint ventures which are progressing to schedule. It has secured the HPX strategic alliance, which is indirectly controlled by international financier and mining entrepreneur Robert Friedland, and attracted one of India's largest steel and power companies Jindal Steel and Power Ltd as a strategic majority shareholder.
Commonwealth Hill IOCG Joint Venture
The Commonwealth Hill IOCG Joint Venture Alliance exploration area covers 770km2 of tenure in the northern Gawler Craton. Exploration is conducted through a strategic alliance between Apollo and High Power Exploration Inc (HPX) searching for IOCG style mineralisation similar to Olympic Dam, Prominent Hill and Carrapateena deposits. The alliance will utilise HPX's 'state of the art' geophysical technologies and expertise to rapidly explore for IOCG mineralisation across the large tenement package.
Under the strategic alliance agreed in February 2014, HPX will make an initial equity investment of $1M at $0.02/share. HPX retains the right to make a further investment of $1.4M at $0.024/share by 30 June 014. Under the JV, HPX has the right to earn-in the 1st phase to 51% ownership by expending $1.7M by 31 December 2015; and a 2nd phase earn-in by expending an additional $1.7M within 18 months of Phase 1 (total spend $3.4M).
HPX's geophysical technology can achieve great depths of penetration with high accuracy and has been successfully deployed in Australia, Africa and South America. This system is ideally suited to the geological environment and surface conditions found at Commonwealth Hill, and can quickly evaluate large geological terrain and generate targets for follow-up drilling.
Their system will initially test the Bundi IOCG target which has been the focus of recent exploration and has identified a series of co-incident gravity with off-set magnetic anomalies, associated with sub-surface conductors. The scale of the Bundi target anomaly is larger than the Prominent Hill and Carrapateena deposits. It is expected drilling to commence in the first half of 2014.
Located on the eastern side of Apollo's tenements and expressed as a prominent, coincident gravity and magnetic anomalies, the Wirrida Intrusive Complex measure 10km east-west and approximately 7km in the north-south direction. Wirrida is a large layered intrusive unit comprised of Gabbro-Norite affinities and is a potential host to a veariety of mineralisation styles including Porphyry Ni-Cu, IOCGU and PGE's.
Wirrida has been broadly reviewed by previous explorers for a range of commodities with minimal success. It appears that the previous exploration companies were particularly focused on gold and did not follow-up on anomalous geochemistry for other elements such as Ni, Zn and Pt. Apollo has compiled all available geophysical magnetic and gravity data and has trialed the response of ground based Electro Magnetic (EM) survey to determine the effectiveness for identifying conductive bodies associated with massive sulphides. Following EM trails it is anticipated an airborne VTEM survey may provide a high resolution, regional scale survey capable of identifying conductive zones associated with larger sulphide rich bodies.
The Bundi Prospect is located in the eastern part of the Commonwealth Hill IOCG JV area and represents a significant target with coincident gravity and magnetic anomalies associated with conductive units and surface geochemical halo. The deep penetrating surveys have also identified significant structures interpreted as major crustal faults which act as sources of mantle plumbing, that would be conduits for heat, fluids and mineralisation within an IOCG system.
The Bundi gravity anomaly includes a large area covering 7km x 7km with very high gravity peaks of 5mgal above background. Gravity values of this tenure is considered similar to the near-by Prominent Hill deposit. Similarly the 3D inversion modelling of Bundi reveals a series of 'pipe like' bodies ranging in depths from 150m - 300m from surface. These are interpreted as iron rich bodies and controlled by sub-vertical lineaments which are similar to feature in the Carrapateena deposit.
Apollo is seeking to conduct high powered IP geophysical surveys across the target to evaluate targets for drilling. It is expected drilling will commence in the first half of 2014.
The Acacia East Prospect is situated in the eastern part of EL5073 covering a portion of a prominent NE trending regional gravity anomaly and located between splays of the NE trending Corrabie Fault Zone. This zone is considered to be prospective for Ni-Cu and IOCGU style mineralisation, and lies along strike from the Aristarchus Nickel mine located 85km towards the southwest. Exploration by Apollo has identified a co-incident EM conductor and magnetic anomaly associated with significant surface calcrete geochemistry.
Initial drilling program in 2013 intersected disseminated, stringer and massive sulphide bearing zones including pyrite, pyrrhotite and chalcopyrite. The sulphide intersections, alteration xones and associated geochemisty provide encouragement that a significant mineralised system has been identified. Drill hole ACEDD001 intersected an 8m interval grading 26.6% Fe, 710ppm Cu, 0.1g/t Ag and 109ppm Co from 327m to 335 meters. The company plans to further evaluate the findings from the Acacia East drilling program.
South Australia - Iron Projects
The Commonwealth Hill Iron Project targets the discovery of iron, base metals and gold mineralisation within the northern Gawler Craton. The exploration strategy is initially focused on identifying iron mineralisation with near mine Direct Shipping Ore (DSO) potential and is focusing on key prospects with anomalous magnetic and gravity signatures. There are well documented occurrences of Banded Iron Formations (BIF) across the district comprised of coarse grained magnetite with high potential to host zones of higher grade haematite altered DSO iron mineralisation.
Recent exploration considers a relationship of the iron occurrences with potential IOCG mineralisation. The Sequoia and Mars-Aurora Tank prospects also contain anomalous values of gold and copper. While this concept was not the initial focus of exploration, this notion is now being further evaluated.
Sequoia is located in the central part of the Commonwealth Hill tenement and situated 20km from the existing Adelaide to Darwin railway line. Apollo holds exclusive mineral rights to the Sequoia evaluation area (7km2) which is currently excised from the Commonwealth Hill IOCG JV, unless minerals other than iron are confirmed there before 31 December 2015. There is speculation that the iron occurrence may be related to a more substantial IOCG system.
The Mars-Aurora Tank prospect is situated in the far north-north western part of the tenement and centred over a shallow, 6km NE trending magnetic anomaly which is defined by a coincident 1.7km gold in calcrete anomaly.
Apollo holds 100% of the southern Mars prospect area (18km2) and host an undefined iron ore occurrence situated at the southwestern end of the magnetic and geochemical anomalies. The northern Aurora Tank area is being explored under JV agreement to earn a 75% interest through expenditure of $900,000 over 3 years commencing in 2013, or funding the development costs to a BFS.
The Fraser Range Nickel Project is located in the prospective high density zone of the Proterozoic Albany-Fraser belt, situated on the south-east margin of the Yilgarn Craton and approximately 100km east of Norseman in Western Australia.
Apollo currently hold 70% interest in the Project comprising four tenements (EL63/1281, EL63/1282, EL63/1695 and EL28/2403) that cover an area of 665 square kilometres. The primary tenements EL63/1281 and EL63/1282 are located in the Mesoproterozoic Fraser Zone of the Albany-Fraser belt and situated 30km southwest and along strike from the Sirius Nova-Bollinger nickel mine.
Previous drilling at Plato in 2014 intersected nickel sulphides with assay grades up to 3,900ppm (or 0.3% Ni) and 2,200ppm (or 0.2%) Cu. Interpretation of the whole rock geochemistry considers the gabbroic rocks intersected were derived from the same suite of Fraser Range rocks intersected by drilling at Nova.
Significant exploration completed to date includes airborne EM, detailed soil geochem sampling, ground based fixed loop EM and magnetics. The extensive data set has identified a number of key prospects including Plato, Heart, Oceanus, Highway, Titan and McPhersons. A vast area of the tenements remain to be adequately explored and the Company is confident other highly ranked target areas will be identified.
In West Africa the Company has an interest in the Kango North Project which, is situated within a growing world class iron ore province. Under a farm-in arrangement the Company has agreed to sole fund exploration and development until the completion of a bankable feasibility study. the project is well located close to existing infrastructure being 25km from the Trans-Gabonese railway, 20km from two hydroelectric dams and approximately 85km from the deep-water port of Owendo and the capital city, Libreville. No historical exploration or mining work for iron ore is know to have been carried out on the Kango North licence area. However, six iron ore and four gold occurrences have been mapped as part of the BRGM-led mapping project in 2009.
In the Esturarie Province in Gabon, there are two predominant greenstone belts, the M'Bilan-Tchimbélé belt in the central portion, and the Komo aval-Nkan belt in the southeastern. the Kango North licence area largely comprises rocks of the northern portion of the Archaean craton, known as the North Gabon Massif. The SE comprise supracrustal remnants elements of the Belinga Group (2870 Ma - 2750 Ma). The rocks of the Belinga Group comprise amphilbolite, gneiss, ferruginous, quartzite, ultrabasite and leucocratic gneiss, and are known to host a number of iron ore deposits and occurrences within Gabon and neighbouring countries. Such occurrences include Belinga, M'Bilan, Mbalam, Avima, Kango, Zanaga, Mayoko and Mayoko-Moussondji.
Reconnaissance mapping identified sub-cropping iron mineralisation over an 8km strike in the south-east of the project area. A series of 12 rock-chip samples were collected for analysis by DTR methods. DTR results returned high grade iron grades ranging from 69.2% Fe to 710.0% Fe averaging 69.7 Fe at a F80 grind size of 75µm. Excellent recoveries were received ranging from 28.8% to 58.0% and averaging 49.2%.
Regional airborne magnetics and radiometrics data from a historic geophysical survey conducted from 2005 to 2009 by a consortium led by the Bureau de recherchers Geologiques et Minieres (BRGM). Geophysical modelling of the southeastern part of the Project area has estimated an exploration target1 of 2.0 - 3.5Bt grading 30-40% Fe, including 75-150Mt grading 45-60% Fe.
Modelling of the airborne radiometric data has identified a strong potassium anomaly which coincides with known gold occurrences at surface. In geophysics, the presence of high potassium and potassium/thorium is an indication for zones of chemical alteration associated with mineralisation. This is a typically used tool in exploration to identify prospective geology, particularly in areas of dense vegetation or extensive surficial cover.
Apollo Minerals Limited
50 Margaret Street
+61 2 9078 7665
Fax: +61 2 9078 7661
The General Overview, Services, Products and Projects information for this profile was last edited on 04 Jun 2015.