Apollo Minerals builds case for IOCG prospectivity at Titan Project
Apollo Minerals (ASX: AON)
has completed further testwork at its Titan base-precious metals
project in South Australia that highlights a potential link with major
IOCG deposits such as Olympic Dam, Prominent Hill and Carrapateena.
Age dating has confirmed a range of ages that compare favourably to these deposits.
“Early
indications on the genesis of these previously unrecognised rocks are
highly encouraging and are another important tick for the IOCG
prospectivity of both Apollo’s Titan Project and this frontier of the
world-class Gawler Craton more generally,” chief operating officer
Dominic Tisdell said.
“We are working hard to formally update the
geological map in this part of the Gawler and I firmly believe we’re on
the right track towards making a notable new discovery.”
The
company’s Bundi, Mars Aurora Tank and Wirrida Prospects have been
confirmed as high potential IOCG targets by the study, which is being
reviewed by the South Australia Geological Survey as part of the state
government’s PACE2020 Geochronology Program.
Plans are currently
being finalised for a high powered induced polarisation survey at Bundi
to identify conductive and chargeable zones likely to be associated with
sulphide mineralisation.
Subject to results, the company plans to immediately follow-up the IP survey with the first round of IOCG drilling at Bundi.
Planning
is also underway for gravity and magnetic surveys at the Mars Aurora
Tank Prospect to progress this target towards a drill ready state.
Age Dating
Age dating of 20 samples around the Titan Project have confirmed a variety of ages from the Proterozoic.
Of
particular significance were six samples with age peaks between 1,578
million years ago (ma) to 1,618ma – averaging 1595ma, which compares
favourably to major IOCG deposits in South Australia including Olympic
Dam and Prominent Hill at about 1,590ma.
Petrology has confirmed
one of these samples, dated at 1581Ma and discovered immediately
northwest of the Wirrida Prospect, as a volcanic rhyolite.
Six other samples of older rocks also show signs of significant alteration during the same circa 1600Ma period.
It
is believed geological events during the targeted Meso-Proterozoic age
were responsible for the mineralisation associated with Olympic Dam,
Prominent Hill and Carrapateena.
At Bundi, dating indicates
multiple periods of fluid flow and intrusion including the targeted
1570Ma to 1620Ma Meso-Proterozoic period.
Dolerite from Bundi
(one confirmed by petrology) returned ages of circa 2150Ma and may be a
new rock unit never before reported in the Gawler Craton.
Apollo
is currently in the process of reviewing these preliminary results with
the South Australian Geological Survey as part of the PACE2020
Geochronology Program.
Titan Base-Precious Metals Project
Titan
is situated along the regional Coorabie Fault and its splays, and
covers 1450 square kilometres - and is at the junction of the world
recognised Thompson Nickel Belt analogue and high potential IOCGU
terranes.
Fieldwork at the Aurora Tank prospect had identified a
potential IOCG target with historic drilling returning results of up to 2
grams per tonne gold, 4g/t silver and 52% iron, as well as some copper.
Importantly, intense haematite alteration has been confirmed, with a regionally rare, volcanic mesa discovered nearby.
Surface
outcrop recently discovered by Apollo includes strongly brecciated
outcrop which appears similar to geology at Olympic Dam and the nearby
Vulcan IOCG Prospect.
The Mars Aurora Tank Prospect covers around
65 square kilometres and straddles Apollo’s wholly-owned Commonwealth
Hill tenements and its Aurora Tank joint venture farm-in tenement with Marmota Energy (ASX: MEU).
Analysis
The
studies carried out at Apollo Mineral’s Titan base-precious metals
project continues to stack up the evidence towards it being a
prospective IOCG deposit similar to Olympic Dam and Prominent Hill.
The
planned IP, gravity and magnetic surveys as well as initial drilling
will all combine to provide the company with a road map for this
interpretation and set the tone for future exploration. On current
results, it is very promising.
