Apollo Minerals (ASX:AON) and High Powered Exploration's (HPX) recent drill program at their Commonwealth Hill joint venture project in South Australia has intersected anomalous iron, copper, gold and silver consistent with IOCG style deposits.
Follow up targets on the Commonwealth Hill JV area are currently being assessed.
The results also support Apollo's regional exploration model including the high quality targets identified from recent geophysical programs at the Eaglehawk JV, where a drill program is currently underway.
High priority gravity-magnetic IOCG targets are now being tested as part of the maiden circa 2300 metres drill program at Mars Aurora Tank and Eaglehawk.
Results are expected at regular intervals from late September through to November.
The HPX drill program comprised four drill holes totalling 906 metres and targeted the Wirrida Intrusive Complex with the deepest hole drilled to a vertical depth of 305 metres.
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 in WIRDD001 over an 8 metres interval from 284 metres and in B35DD001 over a 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).
Basic rock types and alteration patterns appear similar to that of one of South Australia's most recent IOCG discoveries, BHP's Wirrda Well, located 20km south of BHP Billiton's Olympic Dam.
The drill results from HPX's program indicate that the Wirrida Intrusive Complex may be an analogue to the White Hill Intrusive Complex which hosts the major Prominent Hill IOCG deposit, 100 kilometres to the east, and provide another solid indication that significant IOCG deposits may exist in the local area.
Current phase of drilling
Apollo now plans to test a number of dense, high priority targets on the Eaglehawk tenement as part of the current round of drilling.
This current round of drilling is the first drilling program at the Eaglehawk JV to test for IOCG deposits in this recognised, High Priority IOCG Corridor.
It is focused on testing the top portion of a number of anomalies for alteration and IOCG mineralisation.
Prospects which return positive results are expected to be subject to additional deeper drilling focused on discovery and resource definition be fully testing the highest density parts of the targets.
Initial results from this current round of drilling are expected to be available by the end of September with final assays from the last holes drilled as part of this program becoming available in November.
Apollo had recently identified new priority targets at Eaglehawk from geophysical modelling and review of recent and historic surveys.
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.