Apogee's Sampling Program Returns Assays up to 5270 g/t Ag, 4.69% Pb, 2.41% Zn and 1.87% Cu. A Second Diamond Drill is Added to
January 11 2011 - 7:30AM
Marketwired
Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE)
is pleased to report assay results from recently completed surface
and underground rock sampling and geological mapping program
undertaken at the Pulacayo Project. The Pero and Socovan areas
occur along strike to the southeast and west respectively from the
existing resource at Pulacayo (Figure 2 below). Sampling in these
areas provides confidence that the mineralization continues well
beyond the area that has been drilled to date and will assist in
targeting the expanded drill program. Apogee has mobilized a second
drill to the project to accelerate drilling. See the Table 1 below
for a complete summary of the sampling.
The Pacamayo area represents a separate mineralized system that
occurs approximately 1.5 km to the north of the Pulacayo Deposit
(Figure 2) and is a target with high grade silver values (up to
5,270 g/t over 1.2 meters in channel samples - see table below)
that will be delineated by future drilling in an area with
historical artisanal mining.
Joaquin Merino, Apogee's Vice President of Exploration states,
"We are very encouraged by the results from the mapping and
sampling programs at the Pacamayo, Pero, and Socavon Flores areas.
These mineralized areas are well outside of the current resource
and provide strong evidence of the potential to significantly
extend the resource well beyond the currently drilled areas It also
demonstrates the excellent potential for developing new near
surface resources within the Project area.
Table 1 Sample Location and Assays
----------------------------------
----------------------------------------------------------------------------
Estim-
ated
True
Wid-
Sample UTM-E UTM-N Sample th Ag Pb Zn Cu
No. (m) (m) Zone Level Type (M) (g/t) (%) (%) (%)
----------------------------------------------------------------------------
PY-001 741303 7744099 Pero Surface Channel 1.20 73.90 1.47 0.07 0.01
----------------------------------------------------------------------------
PY-002 741304 7744104 Pero Surface Composite - 476.0 0.60 0.02 0.01
----------------------------------------------------------------------------
Py-003 741200 7744066 Pero Surface Channel 1.00 262 1.10 0.02 0.02
----------------------------------------------------------------------------
PY-004 741202 7744102 Pero Surface Channel 2.00 15.00 0.19 0.01 0.00
----------------------------------------------------------------------------
PY-005 741254 7744148 Pero Surface Channel 2.50 41.40 0.43 0.02 0.00
----------------------------------------------------------------------------
PY-006 741254 7744148 Pero Surface Channel 0.80 218.00 2.31 0.06 0.02
----------------------------------------------------------------------------
PY-007 741257 7744157 Pero Surface Composite - 41.90 0.26 0.01 0.01
----------------------------------------------------------------------------
PY-008 741269 7744150 Pero Surface Channel 3.50 43.60 0.38 0.01 0.01
----------------------------------------------------------------------------
PY-009 741254 7744195 Pero Shaft Composite - 1015.00 8.59 25.70 0.22
----------------------------------------------------------------------------
Socavon Level
PY-021 739844 7744670 Flores 116 Channel 1.20 178.00 5.63 24.50 0.01
----------------------------------------------------------------------------
Socovan Level
PY-022 739844 7744670 Flores 166 Channel 0.60 373.00 10.80 16.65 0.01
----------------------------------------------------------------------------
Socovan
PY-023 739666 7744458 Flores Surface Composite - 405.00 17.70 30.00 0.01
----------------------------------------------------------------------------
Socovan
PY-024 739620 7744627 Flores Surface Composite - 88.00 4.00 13.25 0.01
----------------------------------------------------------------------------
Paca- Level
PY-026 740688 7745874 mayo Cero Channel 1.20 5270.00 4.69 2.41 1.87
----------------------------------------------------------------------------
Paca- Level
B50630 740688 7745874 mayo Cerro Channel 1.30 1340.00 4.06 1.16 0.68
----------------------------------------------------------------------------
Pulacayo is a high sulphidation epithermal system associated
with a dacitic dome complex covering an area approximately 2.5 km
wide by 2.7 km long. The Tajo Vein, located along the southern
boundary of this system, was the main source of historical ore
production. It is also the area where Apogee Minerals has
delineated NI 43-101 resources associated with the Pulacayo Deposit
(see Press Release dated October 28, 2008 and the NI 43-101
technical report dated December 2008 and filed on the SEDAR profile
of the Company at www.sedar.com), and is continuing to expand the
mineralization with its ongoing drilling program. (see Press
Releases dated July 14th 2010, April 19th 2010, March 15th, 2010,
and January 15th 2010).
The Pacamayo area is located about 1.5 km north of the current
resource and diamond drilling area. It is a vein system comprised
of more than five mineralized structures, on which there is no
known previous exploration drilling. Two samples were taken from
within a historical adit developed along one of the structures,
with both samples returning silver values in excess of 1000 g/t
(Table 1, Figure 1).
The Pero area is a stock work zone located approximately 1.0 km
southeast along the strike of the current resources and diamond
drilling area at Pulacayo. A total of nine samples were collected
from mineralized veins within a 200 m by 100 m area. All of the
samples returned significant silver values with a highest of 1015.0
g/t. (Table 1, Figure 1). This stock work zone may represent a
separate mineralized structure, but this will need to be confirmed
by drilling.
The Socavon Flores area is located approximately 400 m to the
west of the current resources and diamond drilling area at
Pulacayo. Four samples were collected from a historical adit which
was developed along a structural splay of the Tajo Vein. All of the
samples returned significant values of silver with a highest of
405.0 g/t (Table 1, Figure 1).
Quality Control
The Company employs a quality assurance/quality control protocol
on all aspects of the diamond drilling, sampling and analytical
procedures. The Quality Control and all aspects of the exploration
program are supervised by Apogee's Vice President of Exploration,
Joaquin Merino, P. Geo, a qualified person as defined by NI 43-101.
Mr. Merino has reviewed and approves the scientific and technical
information presented in this press release.
For detailed project information please refer to Apogee's web
site at www.apogeeminerals.com.
This release has been reviewed and approved by Chris Collins, P.
Geo., President of Apogee and a qualified person as defined by NI
43-101.
About Apogee Minerals Limited
Apogee Minerals Ltd. is a mineral exploration and development
stage company listed on the TSX Venture Exchange under the symbol
APE. Apogee targets advanced silver-zinc-lead projects in South
America that demonstrate potential to be developed to production.
Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.
Its most advanced project is the Pulacayo-Paca project in
Bolivia, which is an option to joint venture with Golden Minerals
Company. This project includes the property that covered the
second-largest silver mine in the history of Bolivia with over 600
million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press
release contains "forward looking information" within the meaning
of applicable Canadian securities legislation. Forward looking
information includes, but is not limited to, statements with
respect to the future financial or operating performance of the
Company, its subsidiaries and its projects, statements regarding
the drill program at Pulacayo, development of the Pulacayo project,
statements regarding exploration prospects, and requirements for
additional capital. Generally, forward looking information can be
identified by the use of forward-looking terminology such as
"plans", "expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual results, level of activity, performance or achievements of
the Company to be materially different from those expressed or
implied by such forward-looking information, including but not
limited to: financing not being available at desired prices;
general business, economic, competitive, political and social
uncertainties; the actual results of current exploration
activities; timing and availability of external financing on
acceptable terms; conclusions of economic evaluations; changes in
project parameters as plans continue to be refined; future prices
of mineral prices; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks
of the mining industry; and, delays in obtaining governmental
approvals or required financing or in the completion of activities.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward
looking information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
To view Figure 1: Pulacayo Project location map, please visit
the following link:
http://media3.marketwire.com/docs/apogee_0111_fig_1.pdf
To view Figure 2: Sample Location Map, please visit the
following link:
http://media3.marketwire.com/docs/apogee_0111_fig_2.pdf
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Apogee Minerals Ltd. Chris Collins President +1 416
861-2264 info@apogeeminerals.com www.apogeeminerals.com
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