New Metallurgical Tests by Apogee on Leachable Silver in the Oxide Layer Demonstrate Recoveries Up to 81%
August 03 2011 - 7:00AM
Marketwired
Apogee Silver Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE)
reports recoveries from new metallurgical test work in the oxide
layer at the Pulacayo deposit in southwest Bolivia.
Results from metallurgical test work undertaken on a sample
composited from silver mineralized drill hole intervals located in
the oxide zone above the current resources at Pulacayo were
received during July. The objective of the test work was to
determine silver mineralogy in the oxide zone and its amenability
to recovery by conventional cyanide leaching. Seventy-two hour
leach tests with various reagent additions indicated that silver
dissolutions of 77% to 81% can be achieved.
Neil Ringdahl, C.E.O. of Apogee states, "This exciting
development opens an additional opportunity to explore the largely
untested, near-surface silver oxide potential at Pulacayo, and its
potential inclusion in the resource could contribute significantly
toward our resource ounces. Mineralization in this zone would also
be amenable to extraction by low-cost open pit mining methods.
Together with the resources at the nearby Paca deposit, the option
of bringing in open pit mining and a second oxide stream of
production to complement the planned underground sulphide
production becomes more attractive.
The company intends to fast-track the exploration of this
potential resource in order for the results to be included in the
feasibility study due next year, which considers a
multi-million-ounce-per-year operation scheduled for 2014. The
release of an updated National Instrument 43-101 ("NI 43-101")
remains on plan for Q4 2011, and a second resource update
considering the potential oxide mineralization is expected in Q2,
2012."
A silver-oxide focused diamond drilling program is scheduled to
commence immediately upon completion of the 23,000m sulphide
drilling program in August 2011. A program of trenching, sampling
and mapping has been ongoing since late June 2011 to assist in
drill hole targeting for the oxide program. An initial phase
totalling approximately 3,000 meters of drilling is planned.
The metallurgical test work was undertaken at ED & ED
Ingenieria y Servicios S.A.C. of Lima Peru, under the supervision
of John Grewar, Apogee's consulting metallurgist. Determination of
the ore mineralogy in the tests indicated that the silver occurs as
free electrum particles of approximately 50 micron in length, and
more of these particles are exposed by milling the product to minus
75 micron.
The composite sample was collected from silver mineralized
structures that are interpreted to represent ancillary structures
or branches off the main Veta Tajo (vein) structure. The Veta Tajo
structure hosts all of the current and most of the historical
mineral resources at Pulacayo. In all the holes drilled to date the
target has been sulphide mineralization in the Veta Tajo structure
below the oxide zone and as such the structure remains virtually
untested where it is projected to occur within the oxide layer.
Based on the existing drill-hole information the oxide layer at
Pulacayo is interpreted to extend to depths of between 60 to 120
meters from surface.
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.apogeesilver.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, the current drill program 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
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 Apogee Silver Ltd. G. Scott
Paterson Chairman of the Board +1 (416) 368-6464
info@apogeesilver.com www.apogeesilver.com
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