Apollo Minerals Limited advise that drilling has commenced at the Company’s 100% owned Commonwealth Hill Iron Project in South Australia

The Company is carrying out a program of Reverse Circulation drilling totaling approximately 2,500m, designed to achieve
two main goals:
1. Stage 1: A JORC compliant resource at the Sequoia prospect,
and
2. Stage 2: Better understand the surrounding geology and the potential for near surface, high grade Direct Shipping Ore pods in the surrounding area.
The Stage 1 drilling program will target extensions to the known mineralisation at the Sequoia Prospect, both at depth and along strike.

The Sequoia Prospect is 1.2km long, up to 350m wide, laterally discontinuous and lies 24km from the existing bulk haulage railway line that connects the project to the port at Adelaide. Rock chip samples collected at Sequoia in the late 1990s have returned grades as high as 55% Fe and indicate surficial zones of haematite enrichment.

Recently completed ground gravity data analysis has identified potential for significant haematite / geothite alteration at depth along the southern limits of the prospect. This new target is being investigated.

Mr Dominic Tisdell COO said that “We are delighted drilling has commenced at Commonwealth Hill where we have the potential to identify significant quantities of iron ore that could be transported on existing infrastructure to world markets. This marks the start of Apollo’s first drilling campaign in a new and emerging mining province in South Australia. In a period of less than four months since receiving approval to access the site for exploration from the Commonwealth, we have made significant progress in our goal of defining and developing an important iron project.”