Apollo Minerals intercepts more IOCG mineralisation at Titan Project
Apollo Minerals (ASX: AON) has intersected further evidence of a potentially large iron oxide copper gold signature within its Titan Base-Precious Metals Project in South Australia.
All holes from Phase 1 cored drilling at the Acacia East Prospect had intersected sulphide bearing zones including pyrite, pyrrhotite and chalcopyrite.
This included an intersection of 8 metres at 26.6% iron, 770ppm copper, 0.1 grams per tonne gold, 0.9g/t silver and 109ppm cobalt.
“Apollo is highly encouraged by these initial drilling results from our Acacia East IOCG Prospect,” chief operating officer Dominic Tisdell said.
“These results are significant not only to Acacia East but other high priority targets at Titan, including Bundi and Wirrida, in that they demonstrate elements of the required geology and enrichment of the metals needed to define a world-class IOCG, most importantly copper.
“As drilling during the discovery of the Prominent Hill IOCG showed, discoveries can occur in very close proximity to the site of encouraging initial drilling.”
Acacia East Drilling
The drilling program at the Acacia East Prospect intersected significant intervals of disseminated, stringer and massive sulphides while targeting a coincident high-density gravity anomaly and highly conductive electromagnetic anomaly within a demagnetised zone.
The observation of pervasive hydrothermal alteration, magnetite destruction and sulphide mineralisation from Apollo’s drilling at Acacia East is indicative that this initial round of drilling has intersected a significant part of a large-scale mineral system.
These indications provide strong evidence and much encouragement for additional exploration in the area.
Other notable results include:
- 8 metres at 710ppm copper, 0.01g/t gold, 0.9g/t silver, 293ppm nickel and 109ppm cobalt;
- 56 metres at 124ppm nickel and 23ppm cobalt; and
- 128 metres at 105ppm nickel and 20ppm cobalt.
The assay results compare well against the pre-discovery drilling of the Prominent Hill IOCGU deposit, east of Apollo’s Titan Project, where initial drilling in 1990 returned:
- 4 metres at 0.20% copper and 0.09g/t gold, and
- 4 metres at 0.24% copper and 0.04g/t gold.
The 2001 Prominent Hill discovery hole, sited a few hundred meters from the initial drilling in 1990, returned 107 metres at 1.9% copper and 0.65g/t gold and deeper 152 metres at 1.1% copper and 0.6 g/t gold.
The Acacia East target area covers 4.2 kilometres x 1.6 kilometres x 2.2 kilometres and contains significant geophysical and geochemical anomalism that are indicative of base-precious metals mineralisation.
Apollo plans to further evaluate the findings from the Acacia East drilling programme which has successfully demonstrated that the exploration techniques being applied on the Titan Base-Precious Metals project are suitable in identifying large, dense and conductive targets which have been confirmed as being the source of stringer and massive sulphide bodies, typical of IOCG mineralisation.
These results provide much encouragement and justify further exploration at Acacia East and other surrounding, high priority targets such as the Bundi and Wirrida prospects.
Ongoing review of the drill core from Acacia East includes petrographic studies to accompany on-going research work being conducted in collaboration with the SA Government’s Geological Survey to carry out age date determination of the rock units in the Northern Gawler Craton.
This work will provide extra validation for the IOCG-U potential of the Titan project and has the potential to further increase the IOCG exploration potential of this district of the Northern Gawler Craton.
Apollo Mineral’s ongoing success with drilling validates its belief that the geology and metals are present to define a world class IOCG deposit
This also places it closer towards delineating a significant resource at the project.
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