RE:RE:RE:We are break out ,soi think the financing will be closed any day now. I am paticipating in the PP. Very interesting drill result last year and stock spiked up over 40cents.
Apex drills 0.3 m of 289.97 g/t Au at Ore Hill
2019-12-17 10:42 ET - News Release
Mr. Arthur Troup reports
APEX RESOURCES INTERSECTS GOLD MINERALIZATION INCLUDING 289.97 G/T GOLD OVER 0.30 METRES AT ORE HILL, BC
Apex Resources Inc. has received positive drilling results from the two 2019 diamond drill holes at its Ore Hill property in southeastern British Columbia. Gold mineralization was intersected in both drill holes. Of the 284 core sections assayed in the two drill holes, results ranged from less than detection up to 289.97 grams per tonne gold over 0.3 metre.
Gold assays and intersection widths for the two NQ-sized diamond drill holes are summarized herein. Presently, there is insufficient information to determine how intersection widths relate to true widths.
The two holes were drilled to test a 1,500-metre-long gold-in-soil anomaly located along a north-northeast-trending structural zone (see news release dated Nov. 14, 2018). The two holes intersected multiple zones of gold mineralization associated with a sheeted quartz vein system containing native gold and sporadic silver-lead-zinc values.
Hole OH19-2 was collared at the approximate location of historic hole OH90-1 (see Aug. 19, 2019, news release) and drilled parallel to the former hole at a dip of minus-45 degrees. The historic hole was drilled at a dip of minus-60 degrees. Reported gold grades from the two holes are similar. Initial interpretation of results from these two holes indicates a possible vein system dipping at 55 degrees to the northwest. Additional drilling will be required to confirm this.
The Ore Hill property was first staked in 1901 and had sporadic production from 1906 to 1940 at an average grade of 34.6 g/t gold. The property is situated 42 kilometres south of Nelson, B.C., at the south end of the Sheep Creek gold camp. Sheep Creek is a high-grade orogenic gold district that is similar to the Barkerville camp.
Arthur Troup, president and chief executive officer, commented: "It's very encouraging to obtain significant results from our initial two drill holes on this property. The 2019 drill program indicates potential for multiple zones of elevated gold grades within a broad structural zone associated with a 1,500-metre-long gold-in-soil anomaly. We are looking forward to continuing our exploration program at Ore Hill in 2020."
Qualified person and quality control/quality assurance
Perry Grunenberg, PGeo, is a qualified person for the project and has read and approved the contents of this news release.
On site, the core is delivered to the company's secure facility in Salmo, B.C., where it is logged, split, tagged, sealed and shipped for analysis. The company's consulting geologist, Susan E. Deane, PGeo, logs and supervises the splitting, sealing and shipping of the samples for assay. Quality control is monitored by the insertion of certified standard reference materials and blanks at regular intervals into each sample shipment. For future reference, half of all drill core is stored at the company's secure facility in Salmo, B.C.
Drill core samples are submitted to MSA Labs geochemical laboratory services in Langley, B.C., for preparation and analysis. The MSA facility is accredited to the ISO/IEC 17025 standard for analytical methods.
In the laboratory, the entire sample is crushed. One thousand grams are riffle split and 250 grams are pulverized. Analysis for gold is by 30-gram fire assay fusion with an atomic absorption (AAS) finish, having a lower limit of 0.01 part per million and an upper limit of 10 parts per million. Samples with gold assays greater than one part per million are reanalyzed using a 500-gram screen metallic fire assay. All samples are also analyzed by a multielemental (48 elements) inductively coupled plasma (ICP) geochemical package using a four-acid digestion.
2020 exploration program
In 2020, the company plans for continued exploration at Ore Hill. The scale of the exploration program is dependent upon completion of financing. All permits are in place for an expanded drill program, which will commence upon completion of a structural geological mapping program to assist with fine-tuning the drill target areas. Drilling will step out from these initial two holes to test the strike and downdip extension of the gold mineralization encountered during the 2019 program.