Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE)
reports assay results from eight 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 170 intersected 2.0 meters grading 3,163.00 g/t silver, 0.07%
lead, 0.93% zinc, and a second zone adjacent to the "Veta Tajo" zone which
intersected 4.0 meters grading 212.0 g/t silver, 2.11% lead, and 2.19% zinc.
-- DDH PUD 173 intersected 4.40 meters grading 584.47 g/t silver, 0.88% lead
and 3.88% zinc in a zone adjacent to the "Veta Tajo"
-- PUD 176 intersected 5.10 meters grading 109.47 g/t silver, 0.02% lead and
0.34% zinc in the "Veta Tajo" zone and a second adjacent zone which
intersected 7.0 meters grading 226.29 g/t silver, 0.39% lead and 0.83% lead.
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. Diamond drilling, undertaken in
2010, has successfully extended the deposit an additional 350
meters east of the current resources (See Press Releases dated
January 15th 2010, March 15th 2010, April 19th 2010, July 13th
2010, August 9th 2010, September 20th 2010, January 18th 2011,
February 24th 2011 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 a total of 41 drill
holes in the 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 remain
very encouraged by the latest results from the ongoing drilling
program at Pulacayo. We continue to encounter excellent silver
grades over significant widths. Our near term focus will be on
completing the delineation drilling in the area east of the current
resources to a sufficient level of detail to support a revised NI
43-101 resource estimate. Three drills are currently working in
this area. In addition a fourth diamond drill rig has been
contracted and will be mobilized to the property in early April.
The fourth drill rig, an LM 90, is capable of testing the deposit
where it remains open at greater depth and open along strike to the
west. We expect this fourth drill to start drilling in the area
along strike west of the deposit by mid April."
Table 1: Summary of Significant Intercepts
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UTM UTM Core
Hole E N From To Length Ag Pb Zn
No. (m) (m) Az. Dip (m) (m) (M)(i) g/t % %
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022 -48
PUD-168 740884 7744316 degrees degrees 117.0 132.0 15.0 32.93 0.43 1.09
----------------------------------------------------------------------------
251.0 261.0 10.0 3.60 0.18 0.62
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022 -38
PUD-170 740884 7744316 degrees degrees 100.0 104.0 4.0 212.0 2.11 2.19
----------------------------------------------------------------------------
237.0 239.0 2.0 3163.0 0.07 0.93
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022 -43
PUD-171 741137 7744149 degrees degrees 136.0 138.80 2.8 70.34 0.39 0.01
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022 -48
PUD-172 741061 7744227 degrees degrees 134.0 145.0 11.0 23.46 0.34 0.11
----------------------------------------------------------------------------
Incl. 142.0 145.0 3.0 58.67 0.08 0.01
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022 -43
PUD-173 740861 7744262 degrees degrees 232.0 236.4 4.4 584.47 0.87 3.88
----------------------------------------------------------------------------
Incl. 234.0 235.0 1.0 1400.0 1.09 8.48
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338.0 339.4 1.4 1.00 0.11 0.75
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022 -40
PUD-174 741099 7744190 degrees degrees 164.42 165.0 0.58 114.0 0.57 0.03
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022 -35
PUD-175 740013 7742241 degrees degrees 121.0 131.0 10.0 47.6 0.06 0.01
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Incl. 129.0 130.0 1.0 109.0 0.10 0.002
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022 -45
PUD-176 740914 7744261 degrees degrees 182.0 183.8 1.8 120.0 0.22 1.40
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232.0 239.0 7.0 226.29 0.39 0.83
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269.0 270.0 1.0 359.0 1.49 21.10
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294.0 299.1 5.10 109.47 0.02 0.34
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Incl. 298.0 299.1 1.10 243.0 0.06 1.43
----------------------------------------------------------------------------
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(i) True widths of the intersections are estimated to be approximately
between 70% and 85% of the core lengths provided in the table above.
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 Exploration Manager Mr. Hernan
Uribe, who holds a Masters of Applied Science in Mineral
Exploration from the Imperial College of Science And Technology,
Royal School of Mines, London England. The scientific and technical
information presented in the press release has been reviewed and
approved by Chris Collins P. Geo. President of Apogee and a
qualified person, as defined by NI 43-101.
For detailed project information please refer to Apogee's web
site at www.apogeeminerals.com.
About Apogee Silver Ltd
Apogee Silver 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 100% owned Pulacayo-Paca
project in Bolivia. 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, the development of
and the anticipated timing with respect to the Pulacayo-Paca
project, and statements regarding exploration prospects. 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/apgfig1.pdf
To view Figure 2: Tajo Vein System, Plan View, please visit the
following link: http://media3.marketwire.com/docs/apgfig2.pdf
To view Figure 3: Vertical Longitudinal Section Pulacayo
Deposit, please visit the following link:
http://media3.marketwire.com/docs/apgfig3.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 Silver Ltd. Marilia Bento Vice President
Corporate Development +1 (416) 309-2694 info@apogeeminerals.com
Apogee Silver Ltd. G. Scott Paterson Chairman of the Board +1 (416)
368-6464 spaterson@apogeeminerals.com www.apogeeminerals.com
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