Apollo has obtained all of the approvals required for the Stage 2 drilling program at its Mount Oscar project and work has commenced on the implementation of the planned work.

The heritage survey over the access track and drill sites was completed in cooperation with the Ngarluma Aboriginal Corporation. Clearance to proceed with the planned drilling program was granted in September 2010.

The Program of Work to undertake the drilling has been approved by the Department of Mines and Petroleum following the lodgement of the required security bond.

Contractors have been engaged to complete the track and drill pad construction work this is to be completed in late October 2010.

A drilling contractor has been engaged to commence work in early November. The work is scheduled for completion in the first half of November 2010.

Key Points
1. Mount Oscar Magnetite Project Stage 2 drilling program on Banded Iron Formation Unit A on schedule to commence early November 2010
2. Key approvals, including government for drilling obtained
3. Further metallurgical and processing test work on BIF Unit A samples to be undertaken in Q4 2010

Apollo’s Mt Oscar Magnetite project has an exploration target range of 350 to 650mt @ 31% to 37%Fe. The Stage 2 drilling program will be focused on Banded Iron Formation Unit A of the project area. Geological field work and mapping completed this year in Zone A identified instances of material containing larger magnetite grain size. Zone A is expected to demonstrate superior metallurgical performance to those reported for other parts of Apollo’s Mount Oscar project.

The Stage 2 Reverse Circulation drilling program comprises 4 holes for approximately 980 metres with one drill hole on four profiles in Zone A to test for possible superior metallurgical performance. Provision has been made for an optional hole on each profile based on encouraging results.