Description
Apollo Minerals is an ASX listed Australian Iron Ore Company (ASX:AON). Apollo has a large iron ore deposit located close to existing port, rail, electricity and water infrastructure. Apollo’s major focus is on Mt Oscar which is prospective for magnetite iron ore. It has been determined by geophysical interpretation that there may be an 800Mt global target deposit which outcrops at surface and is open at depth.
Apollo also has 6 tenements in the Gawler Craton region of South Australia at Commonwealth Hill. These tenements are prospective for iron ore, gold and copper because of their proximity to operating mines in these minerals. The company has a Joint venture with Western Plains Resources Limited to develop these tenements.
Share Price
In-depth Apollo Minerals Limited Proactive Investors Articles
- 23/02/2010 Apollo Minerals uncorks substantial exploration target in Pilbara
- 15/12/2009 Apollo Minerals further encouraged by potential at Mt Oscar
- 22/10/2009 Apollo Minerals exceed expectations with latest drilling results at Mt Oscar
- 09/10/2009 Apollo Minerals first drillhole strikes 196m intercept of magnetite iron ore at Mt Oscar
- 27/07/2009 Apollo Minerals inks MOU with Chinese group to advise on Chinese developer for Mt Oscar Project
Recent Apollo Minerals Limited news
- 24/02/2010 Apollo Minerals in private placement
- 18/02/2010 Apollo Minerals requests trading halt
- 10/02/2010 Apollo Minerals' Mt Oscar Magnetite Project returns high grade iron concentrate
- 29/01/2010 Apollo Minerals looks to Mt Oscar magnetite project for growth
- 28/01/2010 Apollo Minerals kicks off work at Commonwealth Hill Iron Project
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Presentations & Company Media
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Company Statement:
Apollo Minerals Limited is an Australian based iron ore exploration company listed on the Australian Securities Exchange (ASX:AON).
Apollo owns the exploration rights of two mineral tenements at Mount Oscar in the Pilbara region of Western Australia, containing a significant iron ore deposit.
The company's immediate objective is to:
- undertake further exploration of the preliminary deposits indicated to date within its tenements
- identify and develop additional uranium and base metal deposits within areas of its tenements that are considered under-explored; and
- acquire direct and indirect interests in other mineral exploration projects which are considered by the Board to be highly prospective, yet under-explored.
Current Operations:
Mount Oscar Iron Ore Project (Western Australia)
Highlights
- Large Iron Ore Target – 800Mt global exploration target.
- Close to transport and ports – railway passes through site.
- Large Ore body, open at depth.
- Proximity to markets.
- Drilling programme about to commence.
Media
60th Minesite.com Forum - Apollo Presentation (June 2009)
Mt Oscar Fly-Through Video
BackgroundApollo has an 100% interest in the exploration rights of tenements EL 47/1378 and EL 47/1379, which cover an area of 212 km² and are located within the West Pilbara region of Western Australia. A significant portion of the important newly discovered Global Mount Oscar Iron Ore Project lies within tenement EL 47/1379. The balance of the Project is held by Fox Resources.
LocationApollo's tenements lie within the Cleaverville geological formation. This geological formation also hosts the Cape Lambert magnetite project which is located about 25 km north of Mount Oscar. The Cape Lambert project contains a JORC compliant resource of 1.56 billion tonnes grading 31.2% Fe and was sold to the China Metallurgical Group Corporation for $400 million in July 2008.
Apollo's tenements are well located, close to existing road, rail and port infrastructure and towns. Importantly the Robe River railway line crosses EL 47/1379. Under recent proposals announced by the Western Australian government, Apollo would have access to this railway line which would provide direct transportation to the port facilities at Cape Lambert, located 30 km north of Mount Oscar. Additionally the North West Highway crosses EL 47/1378 and a number of major regional centres such as Karratha and Roebourne are close by.
Recent Developments - Magnetic ModellingIn April 2009, independent consultants Southern Geoscience completed a geophysical interpretation of the Global Mount Oscar Project Area (the Apollo and Fox Resources tenements combined). Twenty six forward magnetic models and one 3D inversion model were generated from airborne magnetic data to obtain estimates for the volume/tonnage of the highly magnetic banded iron formation (“BIF”) in the Global Mount Oscar Project Area.
It was determined from this that the Global Mount Oscar Project Area down to the first 250 metres of vertical depth from surface is estimated to contain 800 million tonnes of iron ore. This estimate is considered possibly accurate to +/- 25%, however it should be considered accurate to +/- 50% for planning purposes, and to be broadly indicative at best. Previously announced drill results from Fox Resources were utilised to confirm the accuracy of the model.
Southern Geoscience believe that, overall, the comprehensive modelling has provided a reasonably good indication of the total volume for the significant BIF sequence at Mt Oscar
The higher areas of magnetic resonance on the Apollo tenement are shown circled in the image below and indicate the potential targets for higher grade ore. In order to test the accuracy of the modelled results, Apollo will implement a drilling programme comprising four drill holes for 680 metres, commencing August 2009.
Field Work and SurveysApollo has completed a low level airborne magnetic and radiometric survey over the tenements, carried out preliminary mapping work and undertaken an analysis of rock chip samples collected from Apollo's portion of the project area. Apollo is very encouraged by the results of the airborne survey, the preliminary mapping and the analysis of the rock chips which returned grades of up to 51.9% Fe.
Magnetic SurveyA low level survey was carried out at 50 metre line spacing over the Mt Oscar area and 100 metre line spacing over other parts of Apollo's tenements. The survey confirmed the presence of a substantial portion of the highly magnetic Mount Oscar Project area within EL 47/1379. The magnetic high indicates a significant banded iron formation (BIF). The survey also outlined two additional magnetic anomalies within EL 47/1378, which is largely soil-covered. These newly discovered magnetic highs could represent either iron-rich bodies similar to Mount Oscar, or discrete ultramafic sills, similar to the nearby Radio Hill and Sherlock Bay, both of which contain significant nickel sulphide deposits.
Sampling and MappingThe analysis of a small number of rock chip samples collected from the project area is also very positive, with the samples returning up to 51.9% Fe.
Preliminary mapping showed that over 6km of the magnetite-rich horizons are outcropping at EL 47/1379, which represents approximately 35% to 40% of all outcropping magnetite-rich horizons present at Mount Oscar.
Commonwealth Hill IOCGU Project (South Australia)
Highlights
- Significant potential for the discovery of IOCG Uranium deposits.
- World-class location: Challenger Gold Mine, Olympic Dam.
- Large gravity anomaly found at Wirrida Complex.
- Interpretation indicates possible presence of relatively thick magnetite-rich horizons.
- Combined strike length of about 7-8 km.
Overview & ExplorationApollo has a 100% interest in Commonwealth Hill located in the Gawler Craton in South Australia. The project comprises five tenements covering an area of 1,793km squared.
Apollo has a farm-in joint venture agreement with Western Plains Resources Limited ("WPX") in respect of iron ore on Apollo’s Commonwealth Hill tenements. WPX can earn up to a 75% interest by contributing to exploration expenditure on the tenements.
WPX recently entered into a joint venture with Wuhan Iron & Steel (Group) Co ("WISCO") for WISCO to earn a 50% interest in WPX’s Hawks Nest magnetite deposits in return for funding of up to $45m.
The local area is highly prospective for iron ore, copper, gold and uranium. Olympic Dam (largest uranium mine in the world), Prominent Hill and Challenger Gold mines are all close to the project area as are a large number of iron ore exploration projects including projects held by Western Plains, Ironclad Mining, Stellar Resources and IMX Resources.
A programme of ground reconnaissance geophysical surveys was completed over the Wirrida and Ibis magnetic anomalies in April 2009. At Wirrida a total of eight north-south and two east-west traverses for a total of 19.1 km were surveyed with ground magnetics and gravity. The data shows a broad gravity anomaly which is semi-coincident with the magnetics. The depth of the anomaly appears to be about 50m and possibly less in places.
Further ground reconnaissance of the topography and geology is required in order to better assess whether the gravity results indicate the presence of iron ore. There is a possibility that the anomaly could contain other minerals such as gold and copper. Interpretation of the results indicates the presence of relatively thick magnetite-rich horizons, probably BIF. The magnetite-rich horizons extend over a combined strike length of about 7-8 km on the western side of the Wirrida anomaly.
Management
Apollo Minerals Board, Management and Advisors
Sevag Chalabian (Chairman)Sevag Chalabian is a commercial lawyer and adviser. Until March 2004, he was a Partner with Phillips Fox Lawyers. In 2004, he established in partnership a boutique commercial law practice, Lands Legal. His practice concentrates on mining joint ventures, corporate transactions and property and financing projects.
Richard Sealy (Executive Director and Chief Operating Officer)Richard Sealy has over the last 30 years held positions as financial director, managing director or chairman of a number of public and private companies in Australia, New Zealand and the United Kingdom. He has particular experience in the mining industry including gold, coal and oil exploration and production gained with listed companies in New Zealand.
Wang Jianguang (Non-Executive Director)Mr Wang has eight years of experience in the mining and iron-making industry in China. Benefitting from extensive working and studying experiences in China and abroad, Mr Wang has gained unique perspective into the economics and politics of both China and Australia, which has become increasingly critical for advising on and facilitating business negotiation and cooperation with international counterparties. In 2007, Mr Wang, along with other shareholders, established Hugo Natural Enterprises Ltd. As a director, he has been in charge of business development in mining industry overseas. Mr Wang holds a bachelor's degree in Economics Law.
John M Hartigan (Secretary)John Hartigan was appointed Company Secretary by the Board on 29 December 2008. He has had extensive experience with public companies in director and senior executive roles, including 5 years as a non-executive director of the previously listed international Australian Oil & Gas Corporation Limited group, where he was also a member of the Audit Committee. From September 2003 until July 2008, John was CFO & Secretary of the international eServGlobal Limited group, which is listed on the ASX and on the London Stock Exchange (AIM). He also had 9 years with Industrial Equity Limited, where he was Executive Director & Secretary for 4 years. John has had extensive experience in Corporate Governance and IPO Due Diligence (including Woolworths).
Ed Mead (Exploration Manager)Ed Mead is a geologist with some 14 years' experience in gold and base metals exploration, mine development and mine production. He has worked for Geological Survey of Western Australia, Portman Mining, Western Mining Corporation, Sons of Gwalia and Baker Hughes Inteq. More recently he was the Geology Manager for Fox Resources Limited and was involved in taking that company from an explorer to a producer. Ed Mead's work in successfully re-rating the Pilbara for commodities other than iron ore through the use of alternative exploration techniques is of particular value to Apollo.
John Bridson (Geologist)John Bridson is a geologist with a Masters of Science from the University of Waikato in New Zealand. He is a member of the Australian Institute of Mining and Metallurgy and the Financial Services Institute of Australia. John has more than 25 years' experience in exploration, predominantly in iron ore, gold and base metals. He has a particularly strong background in iron ore, having worked with iron ore developers and producers Mt Gibson Iron Limited, Portman Limited and, most recently, Sinosteel Midwest.
Roderick Smith (Mining Consultant)Roderick Smith is a graduate from the University of Western Australia with a Bachelor of Commerce in 1977. He is a Chartered Accountant and a member of the Securities Institute of Australia. He holds a Diploma in Mining Investment Analysis and has studied geology.
He has been involved at board level with several listed public companies and has been instrumental in the development of four mines in Western Australia including the exploration and development of the Windimurra Vanadium Mine for which he raised capital of $300 million. Roderick was previously the Managing Director of Precious Metals Australia.
Tony Grey (Special Adviser)Tony Grey was formerly the Managing Director of Pancontinental Mining Ltd, the Australian company that discovered the Jabiluka uranium deposit in Northern Territory in 1971. Tony Grey has been the Chairman of International Ferro Metals Limited, a ferrochrome and mining company since 2002 and Chairman of Precious Metals Australia, a mining company listed on the Australian Securities Exchange. He has written extensively and is widely recognized as an authority on the Australian uranium industry. Currently a director of TSX-listed Mega Uranium.
Major Shareholders
No info available.
Contact Information
Office Address: Level 10, 1 Margaret Street, NSW, 1255, Australia
Postal Address: PO Box R933, Royal Exchange, NSW, 1255, Australia
Tel: +61 2 9299 8873
Fax: +61 2 9262 2885
Email: info@apollominerals.com.au
Corporate Information
Lawyers
DLA Phillips Fox
Level 32 St Martins Tower 44 St Georges Terrace Perth WA 6000
Auditors
RSM Bird Cameron
Level 12, 60 Castlereagh St Sydney NSW 2000
Share Registry
Security Transfer Registrars Pty Limited
770 Canning Highway Applecross WA 6153
PO Box 535 Applecross WA 6953
Tel: (08) 9315 2333
Fax: (08) 9315 2233
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