Apollo Minerals (ASX:AON) has completed the first five holes of...

Apollo Minerals (ASX:AON) has completed the first five holes of its 2,300 metre maiden drill program targeting high priority IOCG targets at its Titan project area in South Australia.

Two holes were completed at the Mars Aurora Tank target and another three at the Eaglehawk joint venture area with assays to be available from early October through to late November.

More than 1,000 metres of drilling remains to be completed at Eaglehawk with the program scheduled to be completed by mid-October.

The company added that mineralogical investigations of core from recent drilling by Robert Friedland’s High Power Exploration’s at the Wirrida Intrusive Complex has provided further confirmation of its IOCG potential.

Exploration is focused on discovering a significant IOCG deposit similar to nearby Prominent Hill IOCG deposit.

Mars Aurora Tank and Eaglehawk

The two holes at Mars Aurora Tank tested a strong chargeability anomaly possibly associated with surface gold geochemistry and an undrilled, non-magnetic dense body in proximity to historic drilling which returned anomalous iron, copper and gold.

Apollo is earning a 75% interest in the Mars Aurora Tank from Marmota Energy (ASX:MEU).

It has also identified a number of high priority drill targets at its Eaglehawk JV with high priority drill targets.

These targets, including the Bundi South IOCG target, were identified from new and historic geophysical surveys.

Bundi South represents an 18 square kilometre extension to the Bundi IOCG target, which has a similar gravity signature to known IOCG deposits in South Australia with a gravity footprint close to that at Olympic Dam.

The company is earning 75% in Eaglehawk by spending $1.7 million.

Commonwealth Hill Joint Venture

Apollo advised that mineralogical investigations of drill core from HPX’s recently completed maiden drill program has provided further confirmation of the area’s potential to host significant IOCG deposits such as the nearby Prominent Hill deposit and BHPB’s Wirrda Well deposit, located next to the world class Olympic Dam deposit.

Drilling targeting the Wirrida Intrusive Complex had confirmed oxidised (magnetite and haematite rich) ultra potassic igneous rocks, which form the bulk of the complex.

Apollo and HPX are encouraged by results from this first phase of drilling, and are committed to the Commonwealth Hill JV.

In line with its funding model for the JV, HPX has exited a substantial equity position in Apollo in order to apply the funds directly to their JV and exploration activities.

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