Apollo Minerals’ (ASX:AON) strategic partner, Robert Friedland’s High Power Exploration (HPX) has identified several large-scale, high priority iron-oxide-copper-gold drill targets at its Commonwealth Hill joint venture project in South Australia.
This resulted from using Typhoon IP surveys which unearthed high quality targets.
Drilling will commence shortly with the mobilisation of a drill rig to site for testing of priority initial targets.
Notably, the depth of targets appear to be as low as 200 metres below surface.
HPX had carried out the 140 square kilometre survey that identified the co-incident dense, chargeable targets, which may represent significant sulphide bodies.
These have the potential to host IOCG style mineralisation as seen at Prominent Hill and Carrapateena.
Significant drilling will be required to confirm this interpretation.
Separately, Apollo has received the raw data from its own IP surveys at the Mars Aurora Tank and Eaglehawk JV Properties where it is currently earning 75% project interests.
This data is currently being analysed and interpreted and results from this work and the recently completed RAB drilling at the same areas are expected to be announced shortly.
*Typhoon IP Survey*
The Typhoon IP survey was configured to quickly survey a large area to identify near-surface sulphide bodies with a minimum size of 400 metres wide or 1,000 metres in length.
This generated a number of IOCG targets as well as potential epithermal or sedimentary gold targets.
The large scale IOCG targets are associated with the Hiltaba age Wirrida Intrusive Complex and surrounds, including the Bundi North IOCG prospect.
HPX’s proprietary ‘Typhoon’ technology, which can penetrate to great depths with high accuracy, had previously being deployed in Australia, Africa and South America.
Its use in the Commonwealth Hill JV marks the first time the technology has been used in South Australia.
*
Commonwealth Hill JV*
HPX is providing up to $3.4 million of funding to earn an 80% interest in Apollo’s EL4960, EL5073, EL5074 and EL5348 licences in South Australia under the Commonwealth Hill JV.
Previous exploration by Apollo in the area has identified widespread copper anomalism directly above large, high density targets variously associated with magnetic and non-magnetic zones, which are interpreted to extend from a depth of approximately 150 metres to more than 1,000 metres below surface.
Bundi shares striking similarities to major IOCG deposits in the area including the Prominent Hill, and BHP's behemoth Olympic Dam deposit.
An independent review of the Bundi Prospect by geophysicist Chris Anderson, who was instrumental in the discovery of Carrapateena, has demonstrated potential for a large IOCG system.
*Analysis*
The identification of IOCG drill targets from High Power Exploration’s proprietary ‘Typhoon’ technology is a major step ahead for Apollo Mineral’s Commonwealth Hill joint venture with HPX.
The quality of the targets identified by a high powered Typhoon induced polarisation survey conducted by HPX will render the upcoming drill program very interesting indeed.
While early days, the number of co-incident dense, chargeable targets could represent significant sulphide bodies, and potential to host IOCG style mineralisation.
So it is game on for the Apollo / HPX partnership, who would not say no to finding another Prominent Hill or Carrapateena.
Were that the case, the current market cap of circa $9 million will look like chicken feed.
*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 1 day ago.
This resulted from using Typhoon IP surveys which unearthed high quality targets.
Drilling will commence shortly with the mobilisation of a drill rig to site for testing of priority initial targets.
Notably, the depth of targets appear to be as low as 200 metres below surface.
HPX had carried out the 140 square kilometre survey that identified the co-incident dense, chargeable targets, which may represent significant sulphide bodies.
These have the potential to host IOCG style mineralisation as seen at Prominent Hill and Carrapateena.
Significant drilling will be required to confirm this interpretation.
Separately, Apollo has received the raw data from its own IP surveys at the Mars Aurora Tank and Eaglehawk JV Properties where it is currently earning 75% project interests.
This data is currently being analysed and interpreted and results from this work and the recently completed RAB drilling at the same areas are expected to be announced shortly.
*Typhoon IP Survey*
The Typhoon IP survey was configured to quickly survey a large area to identify near-surface sulphide bodies with a minimum size of 400 metres wide or 1,000 metres in length.
This generated a number of IOCG targets as well as potential epithermal or sedimentary gold targets.
The large scale IOCG targets are associated with the Hiltaba age Wirrida Intrusive Complex and surrounds, including the Bundi North IOCG prospect.
HPX’s proprietary ‘Typhoon’ technology, which can penetrate to great depths with high accuracy, had previously being deployed in Australia, Africa and South America.
Its use in the Commonwealth Hill JV marks the first time the technology has been used in South Australia.
*
Commonwealth Hill JV*
HPX is providing up to $3.4 million of funding to earn an 80% interest in Apollo’s EL4960, EL5073, EL5074 and EL5348 licences in South Australia under the Commonwealth Hill JV.
Previous exploration by Apollo in the area has identified widespread copper anomalism directly above large, high density targets variously associated with magnetic and non-magnetic zones, which are interpreted to extend from a depth of approximately 150 metres to more than 1,000 metres below surface.
Bundi shares striking similarities to major IOCG deposits in the area including the Prominent Hill, and BHP's behemoth Olympic Dam deposit.
An independent review of the Bundi Prospect by geophysicist Chris Anderson, who was instrumental in the discovery of Carrapateena, has demonstrated potential for a large IOCG system.
*Analysis*
The identification of IOCG drill targets from High Power Exploration’s proprietary ‘Typhoon’ technology is a major step ahead for Apollo Mineral’s Commonwealth Hill joint venture with HPX.
The quality of the targets identified by a high powered Typhoon induced polarisation survey conducted by HPX will render the upcoming drill program very interesting indeed.
While early days, the number of co-incident dense, chargeable targets could represent significant sulphide bodies, and potential to host IOCG style mineralisation.
So it is game on for the Apollo / HPX partnership, who would not say no to finding another Prominent Hill or Carrapateena.
Were that the case, the current market cap of circa $9 million will look like chicken feed.
*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 1 day ago.