Apollo Minerals kicks off IP Survey

THE DRILL SERGEANT: Apollo Minerals (ASX: AON) let the market know High Power Exploration Inc. (HPX) has commenced exploration in the company’s new IOCG frontier in the north-western Gawler Craton in South Australia.

Earlier this year Apollo and HPX entered into a strategic alliance and joint venture to explore a tenement package currently 100 per cent-owned by Apollo.

The company said the first phase of exploration involves a high-powered Induced Polarisation (IP) survey over large scale gravity and magnetic targets at the Bundi North (northern half of the Bundi prospect) and Wirrida Intrusive Complex prospects.

 

IP survey plan of the Bundi and Wirrida prospects showing extents of the survey area. Source: Company announcement

 

The survey is using HPX’s proprietary ‘Typhoon’ technology and is designed to test for base metals including copper and gold at Bundi North and Wirrida and is one of the largest ever undertaken in South Australia.

Apollo has conducted pervious exploration in the area, which identified widespread copper anomalism directly above large, high-density targets variously associated with magnetic and non-magnetic zones.

These have been interpreted to extend from a depth of approximately 150 metres to more than 1,000 metres below surface.

Apollo explained HPX’s ‘Typhoon’ technology is able to penetrate to great depths with high accuracy and considers it to be ideal for exploring the geological environment at Bundi North and Wirrida.

The IP survey is expected to be completed by the end of May with results available in June.

Subject to final review, a maiden drill program to drill test identified targets is anticipated to follow.

Apollo’s strategic Alliance with HPX relates specifically to exploration licences, EL4960, EL5073, EL5074, and EL5348, known collectively as the Commonwealth Hill Farm-in Joint Venture.

HPX may earn up to 80 per cent via its exploration spend.

The JV does not affect Apollo’s existing joint venture arrangements; the adjacent Eaglehawk JV and Aurora-Tank JVs.

Email: info@apollominerals.com.au

Website: www.apollominerals.com.au