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 recently discovered Mount Oscar Iron Ore Project. Analysis of a limited number of rock chip samples recently collected from Apollo's  part of the Mount Oscar Project have 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 point grade returned being 66.2% Fe in a magnetite/haematite band.

The Mount Oscar Project is 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 and was sold in July to China Metallurgical Group Corporation for $400 million. 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.

A strategic chinese iron and steel group has acquired a 10% stake in Apollo.

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.