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  • Apollo Minerals Uncovers Strong EM Conductors At Base Metals Project  0 comments
    Feb 19, 2013 9:02 PM

    Apollo Minerals (ASX: AON) has identified strong electromagnetic (NYSE:EM) conductors indicative of massive sulphides at its Acacia East Base Metals Prospect in South Australia.

    Early stage base metals exploration results of this calibre are rare and highly prized.

    These EM conductor patterns are indicative of supergene-enrichment above a large-scale mineralised body, typical of high grade iron-oxide-copper-gold (IOCGU) targets.

    The EM conductors were discovered from a loop transient electromagnetic (MLTEM) survey over the prospect that forms part of the company's Titan Base-Precious Metals Project.

    The conductors are coincident with a likely large-scale hydrothermal alteration system measuring at least 1.2 kilometres by 0.8 kilometres by 1.5 kilometres in size.

    The system is located immediately alongside the regionally significant Coorabie Fault.

    This setting is believed to be ideal for the discovery of major base metals deposits such as the nickel sulphide deposits of the Thompson Nickel Belt, Canada and the uranium-rich IOCGU deposits of South Australia, including BHP Billiton's (ASX: BHP) Olympic Dam.

    Field XRF analysis of limited outcrop exposures immediately west of the EM responses at Acacia East returned grades of up to 45.4% iron, 0.31% copper, and 99 grams per tonne (g/t) gold.

    Results also included 31 parts per million selenium, which is regarded as a reliable indicator of copper sulphide based mineralisation.

    Dominic Tisdell, chief operating officer, commented: While we've still got a great deal more work to do to have a definitive answer to the source of these responses, we're highly encouraged by what we've found so far.

    "We'll be pushing to build the confidence required to drill this promising target as soon as possible."

    The Acacia East prospect is situated around 3 kilometres east of the previously shallowly drilled Acacia Prospect where drilling returned results of up to 12g/t silver, 0.32% nickel, 310 parts per million copper and 0.21% zinc in mafic and ultramafic lithologies.

    Acacia East has not been subject to any previous drilling and has had very little geochemical sampling done on it prior to Apollo's recent program.

    The modelled nearer-surface GS1 EM Conductor, around 200 metres below surface, at Acacia East is a discrete and well defined response from a strong bedrock conductor.

    TEM plate modelling of this conductive source is well constrained and suggests a high-tenor of 1000S for the conductive body.

    Additional modelling of the TEM data highlights the possibility that the nearer surface GS1 EM Conductor represents a supergene-enriched blanket immediately above a large-scale, highly conductive mineralised body - GS2 EM Conductor

    In an effort to better understand the thickness and relationship dynamics between the various conductors, Apollo completed a detailed ground gravity survey in February 2013.

    Final results from the gravity survey are expected shortly and will be used to more accurately determine the exact mineralisation system-style, for example IOCGU or Ni-S, and to help with drill hole planning.

    Apollo has collected 230 surface geochemical samples at lab for assay and gravity survey results are pending.

    Analysis

    Although early days, this is very positive stuff from Apollo and an encouraging sign for investors.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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