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  • Apollo Minerals Raising A$2.2M For Copper Gold Exploration 0 comments
    Jul 13, 2014 9:17 PM

    Apollo Minerals (ASX:AON) has received commitments to raise $2.2 million before costs from institutional and sophisticated, with the placement comprised of 100 million new shares at $0.022.

    Funds will be used to fund further exploration at the Eaglehawk and Mars Aurora Tank Projects, including drilling IOCG targets in the September quarter 2014, and for general working capital purposes.

    Apollo is targeting world-class copper gold deposits in South Australia using first class technology and experts.

    Titan Base-Precious Metals Project

    Apollo's Gawler Craton based Titan Base-Precious Metals Project includes the Eaglehawk JV (Apollo earning up to 75% interest) and the Aurora Tank JV (Apollo earning up to 75% interest).

    The project also includes the Commonwealth Hill Project JV, where strategic partner, Robert Friedland's High Power Exploration (HPX), is earning up to an 80% interest.

    The combined 1,000 metre reverse circulation and diamond core program will test prospective IOCG drill targets from the recent HPX-led Typhoon IP survey.

    This will confirm the source of a number of strong chargeability anomalies at depth within, and along the margins of these prospects.

    None of the targets have been drill tested. Results are expected in four to six weeks.

    Highlighting the prospectivity of the Gawler Craton, it hosts four of the world's largest IOCG deposits.

    Apollo has one of the largest land holdings with over 1500 square kilometres.

    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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