The assays confirm significant proportion of higher grade intersections at Sequoia East anomaly, 7km east of the Sequoia prospect where one hole intersected over 22m at 24.6% Fe.
Apollo chief operating officer Dominic Tisdell said for the first time, significant quantities of iron ore have been discovered below shallow cover away from the known Sequoia prospect.
"Given the confirmation of the coarse grained and relatively higher grade mineralisation, the existing open access rail and ports that connect to our project, and the potential to discover additional deposits on the property, we are in very good shape to continue fast- tracking our project towards production," added Tisdell.
A series of north-south trending magnetic and gravity high anomalies 7km to the east of the Sequoia prospect were found in geophysical surveys and a huge prospect likely to hold significant iron ore and potentially base and precious metals was also confirmed adjacent to the Wirrida Complex.
The company’s modeling work confirmed a cumulative strike of 4km and an inferred cumulative thickness averaging 125m, with the magnetic fraction beginning from 50m below surface and continuing to depths beyond 400m.
Analysis also identified a strong gravity low along the Wirrida Complex into the Sequoia East anomaly likely representing a low density stratigraphic unit or palaeochannel type structure with channel iron mineralisation, or a faulted zone showing low density hosting base and precious metals mineralization.
The works form part of Apollo’s exploration drilling program at Commonwealth Hill, where the company has also drilled two RC holes of more than 80m depth, which have returned 2m composites with grades of up to 46% Fe.
The remaining two holes from the Sequoia drilling program will be confirmed by lab assay before the end of this month, which will allow Apollo to evaluate the potential of setting up a dry magnetic separation plant to produce saleable iron ore products.
