Apollo is an Australian based iron ore exploration company listed on the Australian Securities Exchange (ASX:AON).
Apollo owns the exploration rights of two mineral tenements at Mount Oscar in the Pilbara region of Western Australia, containing a significant iron ore deposit.
The Mount Oscar Project is located only 25 kilometres south of the Cape Lambert Iron Ore Project which delivered resource estimates of 1.5 billion tonnes at 31.2% Fe and was sold in July 2008 to China Metallurgical Group Corporation (MCC) for $400 million. Apollo's tenements are believed to host the same iron ore unit as found at Cape Lambert.
Extensive geophysical models compiled by an independent consultant, Southern Geoscience Consultants, have estimated a total global tonnage of 800 million tonnes of iron ore between surface and a depth of 250 metres (see the more detailed description of this work under "Mount Oscar - Overview and Exploration"). The adjacent "Apollo Fly-through Video" provides detailed, 3D imagery of the Project location and geophysical modelling.
Apollo has completed geological mapping and rock chip sampling, aerial stereo photography, contour mapping, aerial magnetometry and radiometrics. Preliminary beneficiation test work suggests that a saleable iron concentrate can be produced from Mt Oscar magnetite using conventional magnetic separation. A drilling programme is planned for July 2009.
Analysis of a limited number of rock chip samples collected from Apollo's part of the Mount Oscar Project returned grades of up to 52% Fe. Fox Resources, whose tenements are adjacent to Apollo, recently drilled on its part of the Mount Oscar Project and returned grades in excess of 55% Fe with the highest grade returned being 66.2% Fe in a magnetite/haematite band.
Apollo also holds 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.
