Apollo Minerals’ (ASX:AON) drilling at the Mars Aurora Tank prospect in South Australia has intersected near surface gold including 4 metres at 5 grams per tonne gold.
The results from the first three holes support the presence of a gold bearing system with potential similarities to Hiltabaeq intrusion-related gold occurrences in the Tarcoola Goldfields south of Titan.
Nine reverse circulation and diamond core drill holes totalling 1,845 metres have been completed across the Mars Aurora Tank and Eagle Hawk joint venture projects.
Potential exists for significant discoveries as part of this round of drilling while a large number of high priority targets will remain undrilled at the completion of this current round of drilling.
Apollo is earning a 75% interest in the Aurora Tank tenement (EL4433) from Marmota Energy (ASX:MEU) and a 75% interest in the Eagle Hawk tenement (EL4932) from Mincor Resources (ASX:MCR).
*Drilling Results*
Results from the first three holes drilled at the Mars Aurora Tank and Eagle Hawk JV projects support the exploration model for polymetallic mineralisation associated with major intrusive systems such as gold and copper in IOCGs.
High grade gold was intersected in favourable structures at Aurora Tank, and iron rich, anomalous copper mineralisation was observed over an 80 metre interval in the first hole drilled at Bundi South.
A downhole electromagnetic survey is underway on the second hole to determine exact position of the electromagnetic conductor to test for massive sulphides.
Four other Eagle hawk prospects were drilled with visual inspection of samples suggesting significant zones of iron enrichment, alteration and sulphide development including limited copper sulphides.
Full assays remain pending for a total of six holes. Results will be reported as received by the company.
*Mars Aurora Tank*
At Mars Aurora Tank, the company successfully drilled three inclined reverse circulation holes totalling 597 metres.
Drill hole 14AT003 intersected near surface, high grade gold including drilled thickness intersections of 4 metres at 5g/t gold from 16 metres down hole depth.
Hole 14AT002 targeted a dense body to the south of the Mars Aurora Tank Prospect and intersected intensely sheared mafic and granitic rocks showing evidence of multiple episodes of alteration resulting in development of chlorite, strong carbonate veining and sericitisation.
This type of alteration is commonly associated with the development of economic gold and copper mineralisation in the Gawler Craton.
A review of induced polarisation data is currently underway to help with targeting of follow-up drill holes designed to test for sulphide associated gold and copper mineralisation within the target zone.
*Eagle Hawk*
At Eagle Hawk, Apollo successfully completed six drill holes comprising five reverse circulation and a single diamond core hole, totalling 1,248.8 meters.
Full assays have been received from drill hole 14BUN001, which was drilled to test a high density gravity target within the Bundi South anomaly.
Encouraging results were received with a 80 metres drilled thickness intersection of iron-rich intrusive averaging 180ppm copper and 10.7% iron from 4 metres depth, confirming that the system contains anomalous copper and iron.
Four other prospects were drill tested with visual inspection of samples suggesting significant zones of iron and other heavy mineral enrichment, alteration and sulphide development including limited copper sulphides.
*Analysis*
Interest in Apollo Minerals drill program at the Mars Aurora Tank and Eagle Hawk has been high and the discovery of near-surface gold is encouraging.
Further assays are expected soon.
Add this to the current drilling at Commonwealth Hill with Robert Friedland's High Power Exploration, and Apollo has multiple high impact price catalysts to look forward to in the immediate future.
*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.
The results from the first three holes support the presence of a gold bearing system with potential similarities to Hiltabaeq intrusion-related gold occurrences in the Tarcoola Goldfields south of Titan.
Nine reverse circulation and diamond core drill holes totalling 1,845 metres have been completed across the Mars Aurora Tank and Eagle Hawk joint venture projects.
Potential exists for significant discoveries as part of this round of drilling while a large number of high priority targets will remain undrilled at the completion of this current round of drilling.
Apollo is earning a 75% interest in the Aurora Tank tenement (EL4433) from Marmota Energy (ASX:MEU) and a 75% interest in the Eagle Hawk tenement (EL4932) from Mincor Resources (ASX:MCR).
*Drilling Results*
Results from the first three holes drilled at the Mars Aurora Tank and Eagle Hawk JV projects support the exploration model for polymetallic mineralisation associated with major intrusive systems such as gold and copper in IOCGs.
High grade gold was intersected in favourable structures at Aurora Tank, and iron rich, anomalous copper mineralisation was observed over an 80 metre interval in the first hole drilled at Bundi South.
A downhole electromagnetic survey is underway on the second hole to determine exact position of the electromagnetic conductor to test for massive sulphides.
Four other Eagle hawk prospects were drilled with visual inspection of samples suggesting significant zones of iron enrichment, alteration and sulphide development including limited copper sulphides.
Full assays remain pending for a total of six holes. Results will be reported as received by the company.
*Mars Aurora Tank*
At Mars Aurora Tank, the company successfully drilled three inclined reverse circulation holes totalling 597 metres.
Drill hole 14AT003 intersected near surface, high grade gold including drilled thickness intersections of 4 metres at 5g/t gold from 16 metres down hole depth.
Hole 14AT002 targeted a dense body to the south of the Mars Aurora Tank Prospect and intersected intensely sheared mafic and granitic rocks showing evidence of multiple episodes of alteration resulting in development of chlorite, strong carbonate veining and sericitisation.
This type of alteration is commonly associated with the development of economic gold and copper mineralisation in the Gawler Craton.
A review of induced polarisation data is currently underway to help with targeting of follow-up drill holes designed to test for sulphide associated gold and copper mineralisation within the target zone.
*Eagle Hawk*
At Eagle Hawk, Apollo successfully completed six drill holes comprising five reverse circulation and a single diamond core hole, totalling 1,248.8 meters.
Full assays have been received from drill hole 14BUN001, which was drilled to test a high density gravity target within the Bundi South anomaly.
Encouraging results were received with a 80 metres drilled thickness intersection of iron-rich intrusive averaging 180ppm copper and 10.7% iron from 4 metres depth, confirming that the system contains anomalous copper and iron.
Four other prospects were drill tested with visual inspection of samples suggesting significant zones of iron and other heavy mineral enrichment, alteration and sulphide development including limited copper sulphides.
*Analysis*
Interest in Apollo Minerals drill program at the Mars Aurora Tank and Eagle Hawk has been high and the discovery of near-surface gold is encouraging.
Further assays are expected soon.
Add this to the current drilling at Commonwealth Hill with Robert Friedland's High Power Exploration, and Apollo has multiple high impact price catalysts to look forward to in the immediate future.
*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.