Apollo Minerals' (ASX:AON) recently completed drilling program at its Mars Aurora Tank and Eagle Hawk joint ventures in the Gawler Craton, South Australia, has already returned encouraging gold grades from assay results.
Other holes drilled intersected wide spread mineral alteration including sulphide intersections, ‘red rock’ potassium development, iron oxide and heavy mineral enrichment.
Further results are expected soon with assays from the remaining six holes pending.
At the Commonwealth Hill joint venture project with Robert Friedland’s High Power Exploration (HPX), drilling has intersected encouraging anomalous iron, copper, gold and silver that are consistent with IOCG mineralisation models.
This suggests the potential for IOCG discovery remains high.
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Mars Aurora Tank and Eagle Hawk*
The recently completed drilling program of 3 holes at the Mars Aurora Tank JV and 6 holes at the Eagle Hawk JV was designed to test for signs of alteration and IOCG mineralisation across wide spaced (>5km) targets.
The first of three reverse circulation holes at Mars Aurora Tank returned a near-surface intersection of 4 metres at 5 grams per tonne gold from 16 metres.
The second hole intersected favourable rock types and structure displaying multiple episodes of deformation and mineral alteration.
Intensely sheared mafic and granitic rock units were intersected with development of chlorite, strong carbonate veining and sericitic alteration.
Complete results from the third hole at Mars Aurora Tank are expected from the laboratory shortly.
The gold intersection is encouraging as it supports previous gold intersections made by earlier explorers, including 2-3g/t gold intersected in a number of holes.
The combination of results together with surface gold in calcrete supports the potential for significant gold mineralised system to be identified.
At the Eagle Hawk JV, six reverse circulation holes including a diamond-core extension of a single hole were drilled.
Full assay results have been received from drill hole 14BUN001 which included a significant 80 metres drilled thickness intersection of an iron rich intrusive unit containing 180ppm copper and 10.7 % iron from 4 metres drilled depth.
The results are encouraging and demonstrate that the mineralised system contains anomalous iron and copper.
Visual inspection of drill samples in other holes intersected sulphide mineralisation, ‘red rock’ potassium development and heavy mineral enrichment.
Final assay results for remaining drill holes are pending and will be released to the market as received by the company.
Apollo is earning a 75% interest in Mars Aurora Tank from Marmota Energy (ASX:MEU) and Eaglehawk from Mincor Resources (ASX Code: MCR).
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HPX Commonwealth Hill JV Project*
A maiden drilling program was carried out to follow up the HPX led, large scale induced Polarisation survey across the Wirrida Intrusive Complex.
The program drilled a combination of 4 reverse circulation and diamond-core holes totalling 906 metres and targeted a number of strong chargeable anomalies.
Drilling intersected disseminated sulphide mineralisation in two drill holes including drilled thickness intervals of 8 metres at 223ppm copper, 17.5ppb gold and 10.2 % iron from 284 metres in WIRDD001, and 130ppm copper, 2.13 ppb gold and 8.376% iron from 160 metres in B53DD001.
This phase of drilling was the first to test sub surface geology below 100 metres from surface where the upper 75 metres is comprised dominantly of transported cover or highly leached and weathered saprock.
Drilling intersected basic rock types with alteration patterns similar to other South Australian IOCG discoveries including BHPB’s Wirrda Well.
Interpretation of results and geological setting establish a strong analogy between Apollo’s Wirrida Intrusive Complex to Oz Minerals White Hill Intrusive Complex, which is adjacent to the major Prominent Hill IOCG deposit located only 100 kilometres to the east.
These relationships further strengthen the possibility for the discovery of IOCG mineralisation in the local area.
As soon as the drilling results become available, HPX will analyse them with the intention of formulating and communicating the exploration plans for 2015 to the market.*Analysis*
Interest in Apollo Minerals drill program at the Mars Aurora Tank and Eagle Hawk has been high and the recent discovery of near-surface gold is encouraging.
Further assays are expected soon.
Drilling at Commonwealth Hill with Robert Friedland's High Power Exploration has also intersected disseminated sulphide mineralisation.
These have alteration patterns similar to other South Australian IOCG discoveries including BHPB’s Wirrda Well, strengthening the possibility for the discovery of IOCG mineralisation in the local area.
Taken together 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 20 hours ago.
Other holes drilled intersected wide spread mineral alteration including sulphide intersections, ‘red rock’ potassium development, iron oxide and heavy mineral enrichment.
Further results are expected soon with assays from the remaining six holes pending.
At the Commonwealth Hill joint venture project with Robert Friedland’s High Power Exploration (HPX), drilling has intersected encouraging anomalous iron, copper, gold and silver that are consistent with IOCG mineralisation models.
This suggests the potential for IOCG discovery remains high.
*
Mars Aurora Tank and Eagle Hawk*
The recently completed drilling program of 3 holes at the Mars Aurora Tank JV and 6 holes at the Eagle Hawk JV was designed to test for signs of alteration and IOCG mineralisation across wide spaced (>5km) targets.
The first of three reverse circulation holes at Mars Aurora Tank returned a near-surface intersection of 4 metres at 5 grams per tonne gold from 16 metres.
The second hole intersected favourable rock types and structure displaying multiple episodes of deformation and mineral alteration.
Intensely sheared mafic and granitic rock units were intersected with development of chlorite, strong carbonate veining and sericitic alteration.
Complete results from the third hole at Mars Aurora Tank are expected from the laboratory shortly.
The gold intersection is encouraging as it supports previous gold intersections made by earlier explorers, including 2-3g/t gold intersected in a number of holes.
The combination of results together with surface gold in calcrete supports the potential for significant gold mineralised system to be identified.
At the Eagle Hawk JV, six reverse circulation holes including a diamond-core extension of a single hole were drilled.
Full assay results have been received from drill hole 14BUN001 which included a significant 80 metres drilled thickness intersection of an iron rich intrusive unit containing 180ppm copper and 10.7 % iron from 4 metres drilled depth.
The results are encouraging and demonstrate that the mineralised system contains anomalous iron and copper.
Visual inspection of drill samples in other holes intersected sulphide mineralisation, ‘red rock’ potassium development and heavy mineral enrichment.
Final assay results for remaining drill holes are pending and will be released to the market as received by the company.
Apollo is earning a 75% interest in Mars Aurora Tank from Marmota Energy (ASX:MEU) and Eaglehawk from Mincor Resources (ASX Code: MCR).
*
HPX Commonwealth Hill JV Project*
A maiden drilling program was carried out to follow up the HPX led, large scale induced Polarisation survey across the Wirrida Intrusive Complex.
The program drilled a combination of 4 reverse circulation and diamond-core holes totalling 906 metres and targeted a number of strong chargeable anomalies.
Drilling intersected disseminated sulphide mineralisation in two drill holes including drilled thickness intervals of 8 metres at 223ppm copper, 17.5ppb gold and 10.2 % iron from 284 metres in WIRDD001, and 130ppm copper, 2.13 ppb gold and 8.376% iron from 160 metres in B53DD001.
This phase of drilling was the first to test sub surface geology below 100 metres from surface where the upper 75 metres is comprised dominantly of transported cover or highly leached and weathered saprock.
Drilling intersected basic rock types with alteration patterns similar to other South Australian IOCG discoveries including BHPB’s Wirrda Well.
Interpretation of results and geological setting establish a strong analogy between Apollo’s Wirrida Intrusive Complex to Oz Minerals White Hill Intrusive Complex, which is adjacent to the major Prominent Hill IOCG deposit located only 100 kilometres to the east.
These relationships further strengthen the possibility for the discovery of IOCG mineralisation in the local area.
As soon as the drilling results become available, HPX will analyse them with the intention of formulating and communicating the exploration plans for 2015 to the market.*Analysis*
Interest in Apollo Minerals drill program at the Mars Aurora Tank and Eagle Hawk has been high and the recent discovery of near-surface gold is encouraging.
Further assays are expected soon.
Drilling at Commonwealth Hill with Robert Friedland's High Power Exploration has also intersected disseminated sulphide mineralisation.
These have alteration patterns similar to other South Australian IOCG discoveries including BHPB’s Wirrda Well, strengthening the possibility for the discovery of IOCG mineralisation in the local area.
Taken together 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 20 hours ago.