News

March 09, 2010

Apollo Minerals Will Deliver A JORC Resource And A Scoping Study For The Mt Oscar Iron Ore Project Later This Year

By Charles Wyatt

There has been a bit of a gap in our coverage of Apollo Minerals. This was not because there was nothing going on, but because the then chief operating officer Richard Sealy delayed matters towards the end of last year, as he was expecting to announce a deal with a Chinese on the company’s Mt Oscar iron ore project. In fact nothing materialised, but deals with the Chinese do tend to take a long time. Anyway, Richard has since departed Apollo, and in his place is Gavin Daneel, an economic geologist who has plenty of experience conducting exploration and development programmes in the Pilbara region of Western Australia, where Apollo’s Mt Oscar project is situated. The tenements cover a large proportion of Mt Oscar itself, with Fox Resources owning the rest. Just to the north is the Cape Lambert iron ore project which was acquired in 2008 by China Metallurgical Group for A$400 million. At the time, the resource there was estimated at 1.5 billion tonnes, but the grade of the magnetite was lower than at Mt Oscar, which lies on the same Archaean Cleaverville formation.

Apollo's tenements are close to existing road, rail, and port infrastructure, and towns. The Robe River railway line crosses them, and under recent proposals announced by the Western Australian government, Apollo would have access to this railway line. It would provide direct transportation to Cape Lambert, located 25 kilometres to the north, where Aquila proposes to construct its multi-user Ankatell Point port. In addition, the North West Highway also crosses the Apollo tenements, and a number...