Apollo Consolidated (ASX:AOP) has advised that farm-in partner, the $1 billion Independence Group (ASX:IGO), is soon to commence drilling this month at Apollo's Rebecca nickel project in Western Australia.
Drilling will test some high conductance, short strike length Moving Loop Electromagnetic electromagnetic conductors.
Surveying is continuing over prospective ultramafic stratigraphy.
Independence will be executing a typically focused exploration campaign on the property, where it can earn a 70% interest via expenditure of $3 million over four years.
The farm in covers all commodities on all tenements besides E28/1610, where the earn-in applies to nickel sulphide and associated metals only.
Apollo retains all gold rights at the Bombora, Duke and Redskin gold prospects, and is capitalised at around $5 million.
The company also has a 51% holding in the Seguela project in Cote d’Ivoire, West Africa project, and can earn up to a 100% through staged exploration expenditure and completion of feasibility studies.
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