Apollo Minerals identifies new IOCG targets

THE DRILL SERGEANT: Apollo Minerals (ASX: AON) has identified a number of preliminary iron-oxide-copper-gold (IOCG) drill targets at the Bundi prospect, located within the company’s Titan base-precious metals project, in South Australia.

An independent review of Apollo’s targeted exploration at the Bundi prospect was recently undertaken by geophysicist Chris Anderson, who was instrumental in the discovery of the nearby Carrapateena deposit (OZ Minerals).

Apollo said Anderson’s review has confirmed the potential for the existence of a large IOCG deposit at Bundi.

 

Bundi gravity response comparison to the IOCG deposits at Olympic Dam and Carrapateena. Source: Company announcement

 

“The review has confirmed Apollo’s strong view on the significance of the Bundi prospect and provided confidence for the company to advance exploration as a key priority,” Apollo Minerals said in its ASX announcement.

“Preliminary drill targets have been identified and will now be further refined by an Induced Polarisation (IP) survey, before embarking on a maiden drill program.

“The company is of the view that at a similar stage of exploration, the Bundi prospect appears to share striking similarities to major IOCG deposits in the area including the Prominent Hill and Olympic Dam deposits.”

The Titan project is located in an emerging IOCG region in the Gawler Craton copper-gold belt, close to the world class Prominent Hill and Olympic Dam deposits.

Break through findings by Apollo relating to the age and mineralisation potential at Titan has rejuvenated IOCG exploration in the district.

Further evidence continues to suggest that the Gawler Craton copper-gold belt shares a number of similarities to South America’s Andes copper belt and may host a number of world-class discoveries.

“Apollo is extremely excited by the results delivered from its exploration at Bundi to date, and is of the view that it is very rare to have numerous independent data-sets suggesting the possible presence of significant IOCG mineralisation,” Apollo said.

“The company has conducted a detailed surface geochemistry program, a ground-based electro-magnetic (EM) and gravity surveys, plus magnetotelluric (MT) and audio-magnetotelluric (AMT) surveys in and around Bundi.

“The company has received preliminary heritage clearance for exploration at Bundi, and all required government approvals to start a maiden drilling program in the area.”

Email: info@apollominerals.com.au

Website: www.apollominerals.com.au