Apollo Defines Gold Mineralization VANCOUVER, British Columbia, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to report gold (“Au”) assay results from the Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California. Results reported herein are from the remaining five reverse circulation (“RC”) drill holes from Phase 2 of the 2022 Drill Program and new surface sample assay results.
- All five drill holes intercepted Au above 0.100 g/t Au over significant thicknesses including 91.0 metres (“m”) of 0.390 g/t Au from surface (estimated 88 m true thickness) (W22-RC-080).
- Surface sampling returned several high-grade results including 211 g/t Au (P715944) and 849 g/t silver (“Ag”) (P715962).
- Gold mineralization occurs stratigraphically below silver mineralization at Waterloo and extends continuously across more than 1,000 m strike length and up to 400 m width. The gold mineralized horizon remains open along strike.
- Initial cyanide solubility tests show recoveries ranging from 75% to 95% confirming gold mineralization is oxidized and amendable to simple leaching.
- Gold mineralization represents a compelling prospect with the latest results providing further support for adding to the metal inventory for the upcoming mineral resource estimate update.
New significant gold intercepts include:
- 0.390 g/t Au over 91.0 m from surface (W22-RC-080), including;
- 1.715 g/t Au over 1.5 m from 8.5 m down hole; and
- 1.771 g/t Au over 3.0 m from 41.5 m down hole; and
- 1.373 g/t Au over 3.0 m from 79.0 m down hole.
- 0.613 g/t Au over 65.5 m from surface (W22-RC-081), including;
- 3.62 g/t Au over 1.5 m from 4.0 m down hole, and
- 1.239 g/t Au over 6.0 m from 47.5 m down hole, and
- 1.100 g/t Au over 1.5 m from 58.0 m down hole.
- 0.353 g/t Au over 52.0 m from surface (W22-RC-082), including;
- 1.204 g/t Au over 4.5 m from 4.0 m depth down hole; and
- 2.05 g/t Au over 1.5 m from 34.0 m depth down hole.
- 0.567 g/t Au over 51.0 m from 35.5 m down hole (W22-RC-083), including;
- 1.673 g/t Au over 10.5 m from 58.0 m depth down hole.
Gold intercepts are reported at a 0.100 g/t gold cut-off grade (“COG”) with significantly higher-grade intercepts reported at a 1.00 g/t COG with a maximum of 4.5 m internal dilution and are uncapped. Lengths are down hole lengths and may not represent true widths unless otherwise stated.
“These latest gold results from the Burcham area of the Waterloo Property confirm that the Calico Project has a substantial oxide gold mineralized horizon,” commented Apollo’s President and CEO Tom Peregoodoff. “This horizon which typically forms part of the footwall to our silver mineralization is extensive and remains open. The spatial relationship between this defined gold horizon and the overlying silver resource is consistent with the simple geometry of the overall resource and opens up additional development optionality in the future. The successful delivery of the objectives of the 2022 program, and the pending mineral resource update should confirm Calico is one of the largest undeveloped silver deposits in the U.S. The potential addition of oxide gold to the mineral inventory will only increase the overall investment attractiveness of the Calico Project.”
Apollo Defines Gold Mineralization over 1,000 metre Strike (globenewswire.com)