The Apollo Lithium Project, a wholly-owned operation of Fortescue Metals Group (FMG) and recipient of the accolades as Australia’s most advanced lithium exploration project, is closing out a highly successful summer/fall exploration season. FMG believes that the project is key to developing the future of the rapidly growing lithium industry.
Located in the highly prospective Apollo Lithium Prospect (ALP), the project consists a network of deposits with an initial total of 109,500 hectares of land. Pre-existing diamond infrastructure has allowed for access to the region in order to conduct exploration activities.
FMG’s exploration team has completed a total of 13 diamond core drill holes and 67 reverse circulation (RC) drill holes across the project area. In addition, surface geochemistry and geophysical surveys have been completed with encouraging findings. FMG’s CEO said that “The results are extremely encouraging and reassuring that the Apollo Prospect is a world-class lithium project.”
Many core samples have yielded promising lithium levels and, in addition, 25 pegmatites have been identified across 5 of the RC drill sites. Twenty-two of these pegmatites have preliminary lithium grades above 1,000 parts per million “Li2O”.
Furthermore, assay results from deep RC drill sites in the region have returned intersections of up to 1.88 g/t Li2 O. These illuminating results demonstrate the Aphrodite West Zone’s potential and the interest the Apollo Lithium Project has attracted from potential investors.
The results provide the scientific basis for approval of the Final Mining Plan scheduled for completion in the first quarter of 2021. This will allow for commencement of project development and the unlocking of one of the fastest growing commodities in the resource sector, lithium.
The Apollo Lithium Project is part of a strategic shift by FMG from iron ore into battery minerals that includes vanadium and cobalt. FMG has put their faith in the Apollo team and their conclusion that the project is a viable source of future lithium supply.
Using the latest technologies and innovative exploration techniques, FMG and its subsidiary Apollo Mining Company are making significant progress towards unlocking the significant potential of the site. The completion of the two-part exploration season has yielded results that could potentially revolutionize the industry and it appears that FMG’s venture into the world of lithium may prove fruitful.