News: Apollo Minerals to raise funds

Apollo Minerals (ASX:AON) has been granted a trading halt by the ASX pending capital raising details, with its shares placed in pre-open.

Apollo is targeting world-class copper gold deposits in South Australia using first class technology and experts.

Four of the world’s largest IOCG deposits are located in the Gawler Craton, with Apollo having one of the largest land holdings at around 1500 square kilometres.

Apollo and strategic partner, Robert Friedland’s High Power Exploration (HPX), are on the exploration fast track with the start of drilling at their Commonwealth Hill joint venture project.

Already at Commonwealth Hill, HPX had identified several large-scale, high priority iron-oxide-copper-gold drill targets from its 140 square kilometre survey.

Results are expected in four to six weeks.

The halt will remain in place until the opening of trade on Thursday 10th July 2014, or earlier if an announcement is made to the market.