Apollo Minerals Limited (AON) is a base, precious metals & iron ore explorer. AON aims to enhance shareholder value by advancing projects through discovery, development & mining. AON follows an exploration strategy targeting highly prospective projects situated close to existing infrastructure focused in South Australia and West Africa.
AON’s focus is the development of the Commonwealth Hill IOCG Joint Venture project in the Gawler Craton. Apollo has entered a strategic alliance with High Power Exploration Inc (HPX) to explore for IOCG deposits. HPX will deploy its ‘state of the art’ technologies & expertise to explore for IOCG’s across Apollo’s 100% held areas (770km2). HPX will make an initial investment of $1M & may invest up to $2.4M in equity. Under the JV, HPX has the right to earn 80% by expending $1.7M by 31/12/15 in phase 1 to 51%; & a further $1.7M in phase 2 within 18mths of phase 1 (total spend $3.4M). AON retains the rights to Eaglehawk JV area and Aurora Tank JV area (AON earning 75%) & iron ore rights at the Sequoia Deposit.