Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Apollo Minerals Confirms Copper Find In South Australia

Apollo Minerals (ASX:AON) has identified its second large scale iron oxide copper gold uranium target at the Titan Base-Precious Metals project in South Australia, reaffirming copper mineralisation at the Bundi prospect.

Surface geochemical assays covering a 4 kilometres by 1.5 kilometres area shows Bundi's potential to host a large scale copper gold system.

The copper zone covers an area of over 10 square kilometres that is open to the east, west and south.

The geochemical assays also vastly expand the historic surface calcrete anomaly at Bundi where gold focused samples returned up to 360 parts per million copper.

Anomalous elements found during sampling also included gold, silver, cobalt and selenium.

Bundi prospect is about 30 kilometres east of the recently drilled Acacia East prospect, with both located within Apollo's solely held tenements in the northern Gawler Craton.

Apollo's chief operating officer Dominic Tisdell said, "These are excellent calcrete copper results for what is shaping up as another high quality base-precious metals target at Titan."

Bundi prospect survey

The copper anomaly find comes following the completion of Stage 1 surface calcrete sampling across part of the large scale gravity and magnetic anomalies at Bundi.

The sampling was conducted on a 200 metre by 200 metre grid centred around the historic sampling site where assays returned up to 360 ppm copper in calcrete.

The geophysical anomalies cover an area of over 50 square kilometres and continue into the adjoining Apollo-Mincor farm in joint venture area into the south.

Bundi is the second iron rich, volcanic hosted IOCGU target that the company has identified in the last six months, having made thick sulphide intersections at Acacia East.

The company has already collected high resolution ground gravity data and is currently reprocessing recently acquired high resolution aeromagnetic data.

As follow up work plan, Apollo plans to conduct further surface calcrete sampling to broaden the survey area and close off the surface copper anomaly.

It has also commissioned a ground based electromagnetic survey, which is likely to be completed in May.


Apollo's Bundi find is its second successive IOCG target identification at the Titan Base-Precious Metals project in six months, having hit thick sulphide intersections at Acacia East.

With the whole survey area being in the top 1% of comparative copper samples from the South Australian government's 16,000 plus regional reference sample set, the company could potentially be on track to delineate a significant resource at the project.

Widespread nature of the copper results are intriguing. With geochemical anomalies remaining open to the east, south and west and electromagnetic and gravity survey results still pending, drill targets defined will look particularly interesting.

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.