Apollo Minerals (ASX: AON) is an iron ore and base metals exploration company advancing projects - in the Gawler Craton, South Australia, Pilbara, Western Australia and Gabon.
Apollo Minerals has a total exploration target in excess of 500Mt of magnetite-bearing banded iron formation at 31-37% Fe at the Commonwealth Hill iron ore project and has identified numerous copper, base metals, IOCGU targets. Apollo’s shareholders include a number of iron and steel producers including one of India’s largest companies, Jindal Steel and Power Ltd.
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Apollo Minerals is a Sydney based, iron ore exploration company listed on the Australian Securities Exchange (ASX code: AON). The Company has two 100% owned projects in Australia – The Commonwealth Hill Project (750 sq km) in the Gawler Craton of South Australia, and the Mount Oscar Project (745 sq km) in the Pilbara region of Western Australia. Apollo Minerals also has a 70% interest in the Kango North Project (400 sq km) in Gabon, western Central Africa.
Apollo is developing the Commonwealth Hill Iron Project some 700km north-west of Adelaide in South Australia, which hosts a number of iron ore prospects. Resource drilling on the Sequoia prospect, situated 20km from the Darwin-Adelaide rail line, has resulted in a JORC-compliant mineral resource with 26 per cent indicated and 74 per cent inferred categories. A scoping study for Sequoia supported development of a medium scale mine producing 42Mt of iron concentrate averaging 68.8 per cent iron over a 17-year mine life. It is forecast that 2.5Mtpa of concentrate will be railed to export shipping facilities at Port Pirie in the Spencer Gulf. Direct start-up capital is estimated at US$333M. The Ibis and Sequoia prospects currently host an exploration target of 300-550Mt at 25-35 per cent iron. Apollo has identified scope to scaleup operations to support a 5Mtpa operation for over 20 years. Prefeasibility study planning is under way with further drilling planned to progress other prospects.
The Titan Base-Precious Metals Project, also in South Australia, focuses on the potential of the Commonwealth Hill region, including copper, nickel, gold, uranium and platinum group elements (PGE).
Mineralisation styles include iron oxide copper-gold-uranium (IOCGU) (Olympic Dam, Prominent Hill, Carapateena and Cairn Hill) epithermal gold (Challenger Gold Mine), and nickel-PGE’s associated with ultra-mafic intrusions. Base metals, gold and PGE anomalies have been identified in surface sampling and shallow drill holes, further drill testing is planned. Ground-based electromagnetic surveys are under way. The Mount Oscar Iron Project in the Pilbara region of Western Australia hosts a large-scale, magnetite prospect. Drilling, geological and geophysical interpretation have identified an exploration target of 350-650Mt at 31-37 per cent iron.
The project area is 25km south of Cape Lambert Port and close to the proposed multi-user Anketell Point Port, with good access to existing road and rail and a Karratha township.
In Western Africa, Apollo is earning a 70 per cent interest in the Kango North Iron Project by sole funding exploration and development to the completion of a bankable feasibility study. The project area is within a growing, highly regarded iron-ore province, 25km from the Trans-Gabon railway, 20km from two hydroelectric dams and 85km from the port at Owendo and the capital city, Libreville. A maiden exploration target of 200-300Mt, grading 30-45 per cent iron, over an 8km strike length has been indentified. Test work produced high-grade concentrates averaging 69.7 per cent iron and mass recoveries averaging 49 per cent.
SA - Commonwealth Hill Iron Ore Project
Apollo Minerals is progressing development of the Commonwealth Hill Project in South Australia and has a JORC code compliant ‘indicated’ and ‘inferred’ mineral resource statement for the Sequoia deposit of, 72 Mt at 25.9% Fe, (including 5.4 Mt at 38.9% Fe). Amongst the Sequoia deposit there are other high quality targets in close proximity which are being evaluated to contribute to the overall project scale and economics.
Figure 1. SA - Iron Ore Project
Exploration in the state of South Australia has been recently escalated following the State Governments’ initiative to open up and expand exploration within the Woomera Protected Area (WPA) in May 2011. Since that time Apollo Minerals has acted quickly to complete airborne and ground based geophysical surveys, together with drilling campaigns to evaluate the mineral resource base on the Commonwealth Hill Project.
The Project area is primarily being targeted for iron ore, base metals (Cu, Pb, Zn), gold and uranium. The Gawler Craton is becoming a well known region for hosting iron ore deposits, as well as Iron Oxide Copper-gold-uranium (IOCGU) styles of mineralisation similar to Olympic Dam, Prominent Hill, Carapateena and the Cairn Hill projects.
WA - Mt Oscar Iron Ore Project
In the Pilbara region of Western Australia the Company is advancing exploration at the Mount Oscar Project which is a large-scale, magnetite-bearing banded iron formation (BIF). Current exploration has assessed the project area and based on geological and geophysical interpretation an exploration target ranging from 350 to 650 million tonnes grading 31%-37% iron (Fe) has been defined.
The Mount Oscar Project is geographically well situated, being 25km south of the port of Cape Lambert and close to proposed multi-user Ankatell Point port. The Project is close to existing roads, rail and towns such as Karratha, the major regional centre.
West Africa Iron Ore Project
In West Africa the Company has an interest in the Kango North Project which, is situated within a growing world class iron ore province. Under a farm-in arrangement the Company has agreed to sole fund exploration and development until the completion of a bankable feasibility study.
Figure 2. West Africa Iron project (Gabon)
The Project is well located close to existing infrastructure being 25km from the Trans-gabonais railway, 20km from two hydroelectric dams and approximately 85km from the deep-water port of Owendo and the capital city, Libreville. No historical exploration or mining work for iron ore is known to have been carried out on the Kango North licence area. However, six iron ore and four gold occurrences have been mapped as part of the BRGM-led mapping project in 2009.
Tony Ho (Chairman)
Mr Ho has had more than 30 years' experience as a senior executive and director mainly as a director of listed companies. Mr Ho's background is in finance and positions that he has held during his career include Chief Financial Officer of Volante Group Ltd, one of the largest Australian-owned ASX-listed computer services companies; Executive Director and Chief Financial Officer of Arthur Yates & Co Limited; Executive Finance Director of Downtown Duty Free Pty Limited; and Chief Financial Officer of ASX-listed M.S. McLeod Holdings Limited.
Currently Mr Ho is a non-executive director and chairman of the Audit and Compliance Committee of Dolomatrix International Limited, a non-executive director and chairman of the Audit Committee of Greenland Minerals & Energy Limited. Mr Ho is also the Deputy Chairman of Quality Improvements Council Limited which is the company that provides accreditation audit services to the Community Health and Community Services sectors in Australia and New Zealand.
Dominic Tisdell (Chief Operating Officer)
Mr Tisdell is a mining engineer with 15 years’ experience in mining, resources M&A and management consulting with Rio Tinto, Mitsubishi Corporation and Accenture. While with Rio Tinto he held key management roles during development of West Angeles and Nammuldi iron ore mines. He has also acted as an advisor on investments totalling $3.25bn including CAP SA, AREVA Mongol, Kintyre Uranium, New Saraji Coking Coal and Coal & Allied.
Mr Tisdell has held prior directorships with the Australian Uranium Association and MDP Uranium.
Richard Shemesian (Executive Director)
Mr Shemesian brings more than 15 years experience in the resources sector to Apollo providing corporate and strategic advice for a number of resources companies, with a particular focus on companies listed on either the Australian Securities Exchange or the Alternative Investment Market of
Mr Shemesian has played an active role in a number of companies that have transformed into producers or have been acquired by way of takeover, including ASX listed Redport which was succesfully taken over by Canadian listed Mega Uranium for A$125m in 2006.
Matthew Rimes (Non-Executive Director)
AWASM (Mining Eng), Exec MBA, Grad IEAust, MAusIMM
Mr Rimes is a mining engineer with over thirty years experience in a range of commodities including gold, copper, nickel and iron ore. He was with North Ltd from 1989, and then subsequently with the Rio Tinto group since the takeover of North Ltd in 2000. Mr Rimes was previously the Managing Director of Iron Ore Holdings Ltd. Over the last ten years he has been with Robe River, and has held senior operational positions at both of Robe's operations at Pannawonica and West Angelas. He brings a wide range of experience in operations, feasibility studies and acquisitions to the board, together with a broad knowledge of the iron ore sector.
During the three year period to the end of the financial year, Mr Rimes has held directorships in Fusion Resources Ltd, Iron Ore Holdings Ltd, Sovereign Metals Ltd and Indo Mines Limited.
Guy Robertson (Secretary)
Mr Robertson has over 25 years' experience in both public and private companies in Australia and Hong Kong. For 16 years he was a Finance Director/CFO of various companies within the Jardine Matheson Group.
Derek Pang (Exploration Manager)
Derek has over 15 years' experience in the exploration and mining industry throughout Australia and Africa. Previously Derek was employed by Blackthorn Resources working on the Mumbwa IOCG deposit in Zambia and the Perkoa VMS deposit in Burkina Faso. Other experience includes the geological assessment of coal resources and deposits in NSW, resource analyst at Huntley's Investment, exploration/mine geologist for Ashton Mining at the Merlin and Argyle Diamond mines, and roles with CRA Exploration (now Rio Tinto) and Plutonic Gold Mine in Western Australia.
RSM Bird Cameron
Level 12, 60 Castlereagh St Sydney NSW 2000
Security Transfer Registrars Pty Limited
770 Canning Highway Applecross WA 6153
PO Box 535 Applecross WA 6953
Tel: (08) 9315 2333
Fax: (08) 9315 2233