Apollo Minerals Ltd is pleased to announce it has received highly encouraging surface geochemistry results from its Bundi Prospect located approximately 30km east of the recently drilled Acacia East Prospect at the Titan Base-Precious Metals Project in South Australia for which initial assays are expected during May. The Company completed Stage 1 surface calcrete sampling across part of the large-scale gravity and magnetic anomalies at Bundi, situated within Apollo’s 100% held tenements in the northern Gawler Craton. Geochemical assays have confirmed the presence of highly anomalous copper which correlates with, and dramatically expands the historic surface calcrete anomaly at Bundi where gold focused samples returned up to 360 ppm Cu. The footprint of the highly anomalous copper zone now covers an area of over 10km2 and is open to the east, south and west. The consistently high levels and widespread nature of the copper anomalism is believed to be unprecedented in the area.

In addition, recent survey results display anomalous and partially co-incident geochemical halos for gold, silver, cobalt and selenium. These results are very encouraging and demonstrate that the Bundi Prospect has the potential to be a very large scale iron oxide copper-gold mineral system. Recently Apollo completed a detailed ground gravity survey over this part of the prospect with the objective of defining the extents and geometry of the dense body in light of the very sparse (circa 6km spaced) regional gravity data available. Modelling and interpretation of this data is underway. A moving loop electromagnetic (MLTEM) survey is also partially complete.

Chief Operating Officer, Dominic Tisdell said “These are excellent calcrete copper results for what is shaping up as another high quality base-precious metals target at Titan. The highly anomalous and widespread nature of the copper results has surprised us. The whole 4 x 1.5km area is in the top 1% of comparative copper samples from the SA Government’s 16,000 plus regional reference sample set. This is an excellent start at Bundi and we are working hard to make this target drill ready as soon as possible.”

Bundi Prospect
Bundi is situated on the eastern side of the Company’s 100% held tenements and covers large scale, structurally favourable, gravity and magnetic anomalies defined through the reprocessing of regional geophysical data. The geophysical anomalies cover an area of over 50km2 and continue into the adjoining Apollo-Mincor farm-in joint venture area to the south. Bundi is the second iron-rich, volcanic hosted base-precious metals (IOCGU?) target the Company has identified on the property within the last six months. Evidence continues to mount that further high quality targets are likely to be developed with additional work. Limited historic RAB drilling focused on the gold in calcrete high along the north western limit of the buried Bundi intrusive system, with holes drilled to an average depth of only 41m. Lithologies reported from the saprolite zone include clays, flood basalt, possible diorite, undifferentiated mafics, intermediates and metamorphics some rich in micas, granites and gneiss, iron oxides, schist, quartzite, dolerite and fault gouge.

Recent field mapping by Apollo at Bundi has focussed on the identification of granitic and volcanic units believed to be associated with possible Gawler Range Volcanics which are understood to be an important component in the formation of IOCG systems in South Australia. Mapping has also identified sub-cropping haematite rich rocks and zones of near-surface kaolinite mineralisation which may be associated with metamorphism and hydrothermal alteration associated with a large-scale intrusive event that could provide ideal conditions for IOCG mineralisation. High resolution ground gravity data has been collected over the prospect area by Apollo. Reprocessing of recently acquired high resolution aeromagnetic data is also being carried out. Modelling and 3D interpretation is expected to be completed during May and is focused on identifying the size, geometry and likely alteration zones within the system.

Apollo’s Stage 1 calcrete sampling program was conducted on a 200m x 200m grid centred around the historic sampling site where assays returned up to 360ppm Cu in calcrete. The resultant highly anomalous copper zone (>40ppm Cu) now extends approximately 4km east-west and 1.5km north-south and is believed to be open to the east, south and west. Further surface calcrete sampling is proposed to broaden the survey area and close off the surface copper anomaly.

As a follow-up to these highly encouraging geochemical results, a ground based MLTEM survey has been commissioned to cover the Bundi Prospect area. This survey is expected to be completed during May. Modelling of the electromagnetic data will assist in determining the conductive properties of the sub-surface geology and the potential for massive sulphides and high grade base and precious metals mineralisation. The acquisition of induced polarisation (IP) electromagnetic data designed to identify zones of moderate grade disseminated sulphides is also being investigated.