Apollo Silver Corp.: 166 Million Ounces of Silver Declared VANCOUVER, British Columbia, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce its Maiden National Instrument (“NI”) 43-101 Mineral Resource Estimates (“MRE”) for the Waterloo and Langtry silver properties, now collectively referred to as the Calico Silver Project1 (“Calico” or the “Project”), located in San Bernardino County, California. An Inferred resource estimate of 166 million ounces (“Moz”) of silver contained in 58.1 million tonnes (“Mt”) at an average grade of 89 grams per tonne (“g/t”) has been defined at Calico by Derek Loveday, P.Geo., of Stantec Consulting Services Ltd. (“Stantec”), the Company’s independent Qualified Person.
“This resource estimate represents the achievement of a significant milestone,” Apollo CEO, Tom Peregoodoff, commented. “The outcome we are announcing today confirms Calico as one of the largest undeveloped silver deposits in the USA and positions Calico as one of the largest globally. The conservative cut-off grade, low strip ratio, and coherent distribution of silver mineralization provide a solid foundation for Apollo to advance the project. Calico represents an exciting development opportunity and provides low risk leverage to future silver prices. For investors looking for exposure to silver in a Tier 1 jurisdiction, Calico represents a compelling opportunity.”
RESOURCE HIGHLIGHTS
- Robust Inferred MRE of 166 Moz silver contained in 58.1 Mt at an average grade of 89 g/t silver for Calico at a 50 g/t cut-off grade (see Table 1):
- Includes high-grade subset of 71 Moz silver contained in 15.9 Mt at an average grade of 139 g/t silver.
- The MRE is an optimized pit-constrained estimate supported by 42,091 m (138,094 ft) of historic drilling in 438 holes and incorporates recent geologic mapping and modeling.
https://www.globenewswire.com/en/news-release/2022/02/09/2381718/0/en/Apollo-Silver-Corp-166-Million-Ounces-of-Silver-Declared-in-Calico-Project-Maiden-Resource-Estimate.html