Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE)
reports assay results from 6 additional diamond drill holes from
the ongoing drill campaign at the Pulacayo deposit located in
southwest Bolivia. (See Table 1 below). All of the reported holes
were drilled from surface.
The highlights from these holes include:
-- DDH PUD 156 intersected 6.40 meters grading 217.49 g/t silver, 0.99%
lead and 1.36% zinc within a 37.0 meter interval grading 74.65 g/t
silver, 0.33% lead and 0.82% zinc.
-- DDH PUD 158 intersected 5.00 meters grading 172.26 g/t silver, 0.64%
lead and 0.59 % zinc within a 10.0 meter interval grading 127.13 g/t
silver, 0.34% lead and 0.37% zinc.
-- DDH PUD 159 intersected 21.00 meters grading 479.43 g/t silver, 0.41%
lead and 0.58 % zinc within a 34.0 meter interval grading 342.82 g/t
silver, 0.41% lead and 0.54% zinc.
The holes were drilled to continue delineation of the deposit
along strike east of the previously released National Instrument
43-101 ("NI 43-101") resource, where diamond drilling, ongoing
since January 2010, has successfully extended the deposit an
additional 350 meters. (See Press Releases dated January 15th 2010,
March 15th 2010, April 19th 2010, July 13th 2010, August 9th 2010,
September 20th 2010, and the NI 43-101 technical report dated
December 2008 and filed under the SEDAR profile of the Company at
www.sedar.com). The Company has now completed twenty-six drill
holes in this area east of the previously released NI 43-101
resource (See Figure 2 and 3 below).
Chris Collins, P. Geo., President of Apogee states, "We continue
to be very excited by the results from our ongoing drilling which
has expanded the deposit to the east. Delineation drilling of the
east extension of the deposit indicates good continuity. The grades
and widths of the drill intersections encountered in this area are
comparable to the grades and widths observed in the area comprising
the resource (See Press Release dated June 24, 2010 and the NI
43-101 Technical Report dated June 25th 2010 and filed under the
SEDAR profile of the Company at www.sedar.com). We are confident
that the drilling in this area will result in a significant
addition to the previously estimated mineral resource and expect
this will further enhance development potential of the
deposit."
Diamond drilling ongoing at the site is now targeting extensions
to the Pulacayo deposit further east of these 26 drill holes.
(Figure 3).
Table 1 Summary of Significant Intercepts
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Core
Length
Hole UTM E UTM N Azimuth Angle From To (M) Ag Pb Zn
No. (m) (m) (deg.) (deg.) (m) (m) (i) g/t % %
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PUD-156 740614 7744321 22 -38 241.0 278.0 37.0 74.65 0.33 0.82
----------------------------------------------------------------------------
Incl. 241.0 253.0 12.0 163.92 0.54 0.88
----------------------------------------------------------------------------
Incl. 246.60 253.00 6.40 217.49 0.99 1.36
----------------------------------------------------------------------------
Incl. 246.6 249.0 2.40 420.88 2.16 2.22
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PUD-157 740450 7744335 22 -38 322.15 327.0 4.85 25.68 0.13 0.56
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PUD-158 740510 7744311 20 - 38 336.00 346.00 10.0 127.13 0.34 0.37
----------------------------------------------------------------------------
Incl. 338.00 345.00 7.00 155.47 0.47 0.45
----------------------------------------------------------------------------
Incl. 340.00 345.00 5.00 172.26 0.64 0.59
----------------------------------------------------------------------------
PUD-159 740560 7744307 20 -41 320.00 354.00 34.00 342.82 0.41 0.54
----------------------------------------------------------------------------
Incl. 333.00 354.00 21.00 479.43 0.41 0.58
----------------------------------------------------------------------------
Incl. 343.00 354.00 11.00 789.73 0.60 0.62
----------------------------------------------------------------------------
Incl. 348.00 353.00 5.00 1568.20 0.75 0.48
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PUD-160 740510 7744311 20 -34 312.00 315.00 3.00 76.00 0.13 0.68
----------------------------------------------------------------------------
----------------------------------------------------------------------------
PUD-161 740656 7744294 22 -43 312.00 315.00 3.00 42.67 0.67 1.67
----------------------------------------------------------------------------
325.00 340.00 15.00 59.55 0.12 0.18
----------------------------------------------------------------------------
Incl. 327.26 337.00 9.74 69.97 0.08 0.14
----------------------------------------------------------------------------
----------------------------------------------------------------------------
(i) True widths of the intersections are estimated to be approximately 80%
of the core lengths provided in the table above.
The company also reports that it has initiated a program of
metallurgical test work to augment the results of the work
completed by Micon International Ltd. as part of the Preliminary
Assessment, ("PEA"), of the Pulcayo Deposit. (See Press Release
dated June 24, 2010 and the NI 43-101 Technical Report dated June
25th 2010 and filed under the SEDAR profile of the Company at
www.sedar.com.) This work is being conducted under the supervision
of John H. Starkey, P. Eng., Principal Consulting Engineer, Starkey
and Associates Inc., Consulting Engineers. Mr. Starkey is a highly
respected professional metallurgist with over 45 years of mineral
processing experience both in operations and design projects in
Canada and throughout the world. The metallurgical test work will
be undertaken at Inspectorate Exploration and Mining Services Ltd.,
Metallurgical Division, in Richmond B.C. Several composite samples
from the Pulcayo Deposit are currently in transit to the lab. In
addition to the metallurgical testing program Mr. Starkey has been
retained by the Company to complete process engineering audits of a
number of mineral processing facilities in the Potosi District of
Bolivia which have been identified as candidates for potential
early toll milling of the Pulacayo ores. This work is in
progress.
The Pulacayo Deposit is a thick east-west striking zone of
conjugate veins, stockwork and disseminated sulphides that locally
are up to 200 meters thick with a higher grade core that comprises
the resource and may locally exceed 60 meters in thickness. The
known strike length of the Tajo Vein System which hosts the
Pulacayo deposit is close to 3 kilometers and it remains open at
both ends along strike (Figure 2). Mineralization comprises
sphalerite, galena and tetrahedrite in sulphide-rich veins ranging
from a few centimeters to greater than one meter thick and heavily
disseminated sphalerite, galena and tetrahedrite between the
veins.
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 approved 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 results, 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.
On Behalf of the Board,
G. Scott Paterson, Chairman
To view Figure 1: Pulacayo Project Location Map, please visit
the following link:
http://media3.marketwire.com/docs/ape0118fig1.pdf.
To view Figure 2: Tajo Vein System, Plan View, please visit the
following link:
http://media3.marketwire.com/docs/ape0118fig2.pdf.
To view Figure 3: Pulacayo Deposit Vertical Longitudinal
Section, please visit the following link:
http://media3.marketwire.com/docs/ape0118fig3.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. Marilia Bento Vice President
Corporate Development +1 (416) 309-2139 mbento@apogeeminerals.com
Apogee Minerals Ltd. G. Scott Paterson Chairman of the Board +1
(416) 368-6464 spaterson@JumpTVInc.com www.apogeeminerals.com
Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Apogee Silver Ltd. (TSXV:APE)
Historical Stock Chart
From Jul 2023 to Jul 2024