Thank you very much for your enquiry and feedback. We understand your and other shareholders concerns. Please be assured that the Company continues to work professionally and as quickly as possible towards its next round of drilling in South Australia and the evaluation of its other projects including our exciting Fraser Range nickel exploration project. An update announcement on our next round of drilling in South Australia is imminent.
Apollo remains committed to meeting the drilling schedule as announced to the market earlier this month, particular the release of drilling results. I’m sure you appreciate that a day or two’s movement on complex programme such as exploration drilling in some of Australia’s remotest regions is not unusual and we believe, nothing to get unduly worried about.
Drilling is by far the largest cost associated with exploration. Apollo’s philosophy is to engage the best experts and spend the time required to properly understand each of its targets prior to drilling. We only drill when we believe the potential justifies the expense and the time. That is, we are focused on world-class discoveries, discoveries that would become mines in quick order and provide strong returns to all our shareholders. We believe the DHEM conductor at Bundi South fits this profile.
While there are no guarantees that we will intersect economic mineralisation in this Bundi South hole (this is exploration) the signs are encouraging. The conductor strength is exactly as you would hope for a massive copper sulphide deposit i.e. circa 2000S, the surface is strongly anomalous in copper and gold, and the target is in a region demonstrated to host a number of Hiltaba age intrusives, key for the development of economic copper-gold deposits in South Australia. While it would have been wonderful to have intersected significant copper mineralisation in last year’s hole, there is still a very real chance that a massive sulphide body could be discovered nearby. By way of comparison, late last year, Cassini Resources announced the discovery of a massive copper sulphide deposit via drilling of a strong EM conductor. Holes very close by e.g. CZC0120 were effectively barren.
we hope this answers your question.
Thank you for your support.
AON Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
