AON confirms IOCG potential at Titan

Published at Sep 26, 2014, in Mining

Apollo Minerals (ASX: AON) has reported positive results from its recently completed maiden drilling program by Robert Friedland’s High Powered Exploration Inc. (HPX) at the Apollo-HPX Commonwealth Hill Joint Venture in the Gawler Craton, South Australia.

The HPX drill program comprised four drill holes targeting the Wirrida Intrusive Complex, within AON’s wider Titan project area. It was designed to clarify the project’s potential to host a significant Iron-Oxide-Copper-Gold deposit.

Drilling intersected anomalous iron, copper, gold and silver from alteration and fracture zones, indicating possible large IOCG deposits in the immediate vicinity.

The HPX drill program completed four holes totalling 906 metres at the Wirrida Intrusive Complex, with the deepest hole drilled to 305 metres.

The drilling tested chargeable anomalies from the preliminary interpretation of HPX’s Typhoon IP survey carried out in the second quarter this year.

Anomalous disseminated sulphide-related IOCG geochemistry was intersected over an 8 metres from 284 metres, and in over 16 metres interval from 160 metres.

The program was the first drilling in the area to test the geology deeper than 100 metres below surface – the first 75 metres is typically transported cover and leached material not related to source rock mineralisation.

Basic rock types and alteration patterns appear similar to that of one of South Australia’s most recent IOCG discoveries, Wirrda Well,dicovered by BHP Billiton (ASX:BHP) and located 20 kilometres south of Olympic Dam.

Results indicate that the Wirrida Intrusive Complex may be an analogue to the White Hill Intrusive Complex which hosts the Prominent Hill IOCG deposit, 100 kilometres to the east, and provide further evidence that significant IOCG deposits may exist in the local area.

Follow up targets on the Commonwealth Hill JV area are currently being assessed. Importantly, results to date support AON’s regional exploration model and drill program currently underway at the Eaglehawk JV area. The Eaglehawk project is a joint venture with Mincor Resources (ASX:MCR). AON is earning a 70% interest.

AON is also currently drilling a number of IOCG targets at EagleHawk as part of the madien 2,300m drill program at Mars Aurora Tank. The Aurora Tank project is a joint venture with Marmota Energy (ASX:MEU).

Drilling will specifically test the top portion of a number of anomalies for alteration and IOCG mineralisation. Prospects which return positive results will be subject to deeper drilling on discovery and resource definition.

Results from this drilling are expected to be returned regularly between late September and early November.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

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