Apollo Minerals (ASX: AON) has expanded the exploration footprint of its Titan base-precious metals project in South Australia that is prospective for IOCG mineralisation.
The newly granted EL5348 is adjacent and contiguous to the southern boundary of the project area, increasing its size by 50 square kilometres to 1,467 square kilometres.
It contains the Carne Prospect that is ypically concealed by extensive recent sand and colluvial cover.
This is situated within 7.5 kilometres from outcropping Meso-Proterozoic units of the Gawler Range Volcanics, which are recognised as having an influential role in the mineralising event associated with IOCG’s in the Gawler Craton including the Olympic Dam, Prominent Hill and Carrapateena deposits.
It is perceived that the younger Jurassic-Tertiary sequences may overlay, and cover potentially mineralised geology.
Appraisal of the Carne licence area EL5348 shows a number of northwesterly trending lineaments which have high potential to host GRV intrusive units within magnetic lows, and concealed by younger Jurassic-Tertiary cover sequences.
*Titan Base-Precious Metals Project*
Apollo is conducting further research in conjunction with the South Australian Governments’ Geological Survey to further the understanding of the geological framework in the northern Gawler Craton.
Investigations are specifically aimed at verifying the potential of the area to host world-class copper-gold deposits.
Exploration is gathering evidence supporting the wide spread occurrences of GRV and Hiltaba Suite granites in the northern and central parts of the Gawler Craton in areas where extensive geological cover has previously concealed the formal identification of GRV units.
Age dating has also confirmed a range of ages that compare favourably to the major IOCG deposits.
Apollo is continuing to advance further exploration in the region with plans to conduct further geophysical IP and gravity surveys across targets within the project area.
It is planned to follow-up confirmed targets with drilling program at several sites including the Bundi, Ibis, Mars-Aurora Tank, Sequoia East and Wirrida prospects.
Geophysical surveys are expected to be completed early in 2014 with a drilling program to commence upon verification of drill sites.
*Analysis*
With Apollo Minerals continuing to build up its case for the Titan project hosting IOCG mineralisation similar to Olympic Dam and Prominent Hill, the new permit gives it further acreage to expand into.
Planned exploration will provide the company with a road map for this interpretation and sets the tone for future exploration.
Upcoming share price catalysts include the geophysical IP and gravity survey as well as drilling at the Bundi, Ibis, Mars-Aurora Tank, Sequoia East and Wirrida prospects.
*Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.* Reported by Proactive Investors 18 hours ago.
The newly granted EL5348 is adjacent and contiguous to the southern boundary of the project area, increasing its size by 50 square kilometres to 1,467 square kilometres.
It contains the Carne Prospect that is ypically concealed by extensive recent sand and colluvial cover.
This is situated within 7.5 kilometres from outcropping Meso-Proterozoic units of the Gawler Range Volcanics, which are recognised as having an influential role in the mineralising event associated with IOCG’s in the Gawler Craton including the Olympic Dam, Prominent Hill and Carrapateena deposits.
It is perceived that the younger Jurassic-Tertiary sequences may overlay, and cover potentially mineralised geology.
Appraisal of the Carne licence area EL5348 shows a number of northwesterly trending lineaments which have high potential to host GRV intrusive units within magnetic lows, and concealed by younger Jurassic-Tertiary cover sequences.
*Titan Base-Precious Metals Project*
Apollo is conducting further research in conjunction with the South Australian Governments’ Geological Survey to further the understanding of the geological framework in the northern Gawler Craton.
Investigations are specifically aimed at verifying the potential of the area to host world-class copper-gold deposits.
Exploration is gathering evidence supporting the wide spread occurrences of GRV and Hiltaba Suite granites in the northern and central parts of the Gawler Craton in areas where extensive geological cover has previously concealed the formal identification of GRV units.
Age dating has also confirmed a range of ages that compare favourably to the major IOCG deposits.
Apollo is continuing to advance further exploration in the region with plans to conduct further geophysical IP and gravity surveys across targets within the project area.
It is planned to follow-up confirmed targets with drilling program at several sites including the Bundi, Ibis, Mars-Aurora Tank, Sequoia East and Wirrida prospects.
Geophysical surveys are expected to be completed early in 2014 with a drilling program to commence upon verification of drill sites.
*Analysis*
With Apollo Minerals continuing to build up its case for the Titan project hosting IOCG mineralisation similar to Olympic Dam and Prominent Hill, the new permit gives it further acreage to expand into.
Planned exploration will provide the company with a road map for this interpretation and sets the tone for future exploration.
Upcoming share price catalysts include the geophysical IP and gravity survey as well as drilling at the Bundi, Ibis, Mars-Aurora Tank, Sequoia East and Wirrida prospects.
*Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.* Reported by Proactive Investors 18 hours ago.