Investment Highlights • Apollo's Commonwealth Hill Project contains five properties covering an area of 1,793 km2 significant potential for the discovery of gold, copper, uranium and iron ore mineral deposits • Gold potential demonstrated by the nearby Dominion Mining’s Challenger Gold Mine Project holds potential for the discovery of IOCG Uranium deposits of the Olympic Dam or Prominent Hill style. • Apollo's tenements are nearby the Gawler Craton in South Australia which hosts the world’s largest uranium deposit. • • Apollo's Tenements are surrounded by several South Australian focused uranium explorers including Toro. • Apollo's Tenements lie to the east of Challenger gold mine. • Apollo's Tenements are close to rail infrastructure key to iron ore mines - Adelaide to Darwin rail line intersects the tenement.
Mount Oscar, new iron ore discovery in Western Australia Apollo has an 80% interest in the exploration rights of two tenements in the Pilbara, Western Australia, which contains a significant part of the newly discovered Mount Oscar Iron Ore Project. The tenements are located about 25 km south of the Cape Lambert magnetite project and 35 km from ports at Cape Lambert. Cape Lambert has a JORC compliant resource of 1.56 billion tonnes @ 31.2% Fe.
It’s estimated up to 40% of the strongly magnetic Banded Iron Formation (5 km long and 2 km wide) of the Mount Oscar Iron Ore deposit lies within the Apollo tenement area. Rock chip samples, recently taken from the Mount Oscar Iron Ore Project, show surface iron ore enrichment in excess of 46% Fe. Apollo has ascertained that six of the rock chip samples obtained from the newly discovered deposit were located within the Apollo tenement boundary. These rock chip samples returned iron assays of up to 40.5% Fe.
Apollo intends to embark on an extensive exploration. Initial field work in 2008 will include:- • Low level detailed helicopter magnetic survey over the project area • Fly a gravity survey to better detail concentrations of magnetite and hematite • Carry out detailed geological and structural mapping and sampling • Undertake an initial shallow RC drill test program • Carry out metallurgical test work
171207The company said the two tenement applications cover a significant portion of the newly discovered Mt Oscar Iron Ore Project, located in the Pilbara region of Western Australia.
Apollo said it is currently conducting due diligence on the tenements and subject to the successful completion of this due diligence, the company expects to acquire the tenements and commence an aggressive exploration program by March 2008.
• Doesn't this area ( Mt Oscar WA )seem to have nearology to FMG ‘s highly successful iron ore finds?
That being the case, can someone advise me why the SP is still so low? Has the exploration started? Does anyone know what is happening with this company which seems to have fairly solid fundamenmtals from what I can see?
Information courteay AON web site. Some maps are available too on the web site.
regards poppi
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