Apollo Minerals Limited


Apollo is an Australian based mineral exploration company that listed on the Australian Stock Exchange on the 31st October 2007.

Apollo has an 80% interest in the exploration rights of two mineral tenements at Mount Oscar in the Pilbara region of Western Australia containing a significant portion of the Mount Oscar Iron Ore project recently discovered by Fox Resources Limited. Independent assays by Fox confirm iron ore enrichment at the Mount Oscar Iron Ore Project in excess of 40% Fe. The tenements are also located only 25 kilometers south of the Cape Lambert Iron Ore project which recently delivered resource estimates of 1.5 billion tonnes at 31.2% Fe. Apollo's tenements are believed to host the same potential iron ore unit as found at Cape Lambert.

Apollo also holds exclusive exploration rights to a portfolio of mineral tenements at Commonwealth Hill in the central Gawler Craton, a mineral rich region of South Australia. The Tenements are located near some of South Australia's world class uranium, iron-ore and base metal projects, including the iron-oxide-copper-gold-uranium (IOCGU) deposits of the Olympic Dam and Prominent Hill mines.

In January and February 2008 a major Chinese iron and steel group acquired a 11.69% stake in Apollo. It's expected this company will increase its shareholding in Apollo to 19.9% subject to shareholder and regulatory approvals.

The company's immediate objective is to :

  • undertake further exploration of the preliminary deposits indicated to date within its tenements
  • identify and develop additional uranium and base metal deposits within areas of its tenements that are considered under-explored; and
  • acquire direct and indirect interests in other mineral exploration projects which are considered by the Board to be highly prospective, yet under-explored.