- 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
The 2022 Calico Drill Program, which is one component of the 2022 Calico Technical Program, comprised 9,840 m (32,283 feet) of drilling with 88 holes on the Waterloo property completed between
Results for five RC holes are reported below, which total 483.5 m (1,586 feet) and were completed between
Also reported are gold and silver assay results from a surface rock grab sampling program completed in the fall of 2022, in which 82 samples were collected across the Waterloo property to further understand the distribution of gold mineralization at surface (following up results from 46 surface samples reported
1The 2022 MRE was prepared by
GOLD HORIZON
As previously reported (see news release
Based on this work, one goal of the 2022 Calico Drill Program was to better understand the distribution and styles of gold mineralization across the property. The drill program design included holes targeting the prospective Barstow-Pickhandle contact at depth below the Waterloo silver MRE and along strike from the Burcham area. It also aimed to verify historic drilling completed at Burcham and assess to what extent the Pickhandle volcaniclastics may be mineralized with gold. All five drill holes reported herein intersected gold mineralization across significant widths at or above a 0.100 g/t Au cut-off grade, the longest intercept being 91.0 m of 0.390 g/t Au from surface. More than 74 m of this intercept is hosted within Pickhandle volcaniclastics suggesting this lithostratigraphic unit may be more prospective for gold than previously understood. Refer to Table 1 and Figure 1 for drill hole information and locations and Table 2 for drilling gold assay results. Figure 2 shows the spatial relationship between the silver MRE and gold in drilling results.
Table 1: Drill hole information for results reported
Hole | Easting (m) | Northing (m) | Elevation (m) | Total Depth (m) | Total Depth (ft) | Azimuth | Dip |
W22-RC-080 | 511271 | 3867591 | 745 | 92.5 | 302 | 45 | -80 |
W22-RC-081 | 511315 | 3867493 | 733 | 88.0 | 289 | 180 | -55 |
W22-RC-082 | 511314 | 3867492 | 733 | 88.0 | 289 | 0 | -55 |
W22-RC-083 | 511261 | 3867456 | 721 | 100.0 | 328 | 0 | -60 |
W22-RC-084 | 511286 | 3867452 | 719 | 115.0 | 377 | 35 | -55 |
Figure 1: Drill hole collar locations for results reported
Table 2: Gold assay results reported
Hole | From (m) | To (m) | Interval (m) | Au (g/t) | |
W22-RC-080 | 0.0 | 91.0 | 91.0 | 0.390 | |
including | 8.5 | 10.0 | 1.5 | 1.715 | |
including | 41.5 | 44.5 | 3.0 | 1.771 | |
including | 79.0 | 82.0 | 3.0 | 1.373 | |
W22-RC-081 | 0.0 | 65.5 | 65.5 | 0.613 | |
including | 4.0 | 5.5 | 1.5 | 3.62 | |
including | 32.5 | 34.0 | 1.5 | 1.250 | |
including | 37.0 | 41.5 | 1.5 | 1.094 | |
including | 47.5 | 53.5 | 6.0 | 1.239 | |
including | 58.0 | 59.5 | 1.5 | 1.100 | |
and | 73.0 | 76.0 | 3.0 | 0.139 | |
W22-RC-082 | 0.0 | 52.0 | 52.0 | 0.353 | |
including | 4.0 | 8.5 | 4.5 | 1.204 | |
including | 34.0 | 35.5 | 1.5 | 2.05 | |
and | 58.0 | 59.5 | 1.5 | 0.175 | |
and | 79.0 | 85.0 | 6.0 | 0.265 | |
W22-RC-083 | 7.0 | 10.0 | 3.0 | 0.126 | |
and | 25.0 | 28.0 | 3.0 | 0.143 | |
and | 35.5 | 86.5 | 51.0 | 0.567 | |
including | 58.0 | 68.5 | 10.5 | 1.637 | |
and | 92.5 | 100.0 | 7.5 | 0.203 | |
W22-RC-084 | 0.0 | 1.0 | 1.0 | 0.102 | |
and | 8.5 | 56.5 | 48.0 | 0.532 | |
including | 37.0 | 40.0 | 3.0 | 1.265 | |
including | 49.0 | 55.0 | 6.0 | 1.670 | |
and | 82.0 | 88.0 | 6.0 | 0.122 | |
and | 91.0 | 92.5 | 1.5 | 0.115 |
Gold intercepts calculated using 0.100 g/t cut-off grade (“COG”) with higher-grade intercepts calculated at 1.000 g/t COG. Intercepts are down hole lengths and may not represent true widths.
Definition of gold mineralization is further supported by 2022 surface rock grab sampling for which a total of 128 samples have now been reported. Surface sampling targeted historically and newly identified northwest and north-south oriented high-angle structures, structural intersections, surface mapped silicified rocks and bleached/brecciated fault gouge in the basal
Table 3: Surface rock grab sample location and results for select samples above 1.000 g/t Au or above 100 g/t Ag as reported
Sample ID | Easting (m) | Northing (m) | Elevation (m) | Au (g/t) | Ag (g/t) |
P715944 | 511,301 | 3,867,484 | 734 | 211 | 49 |
P715953 | 511,524 | 3,867,419 | 735 | 7.14 | 26 |
P715943 | 511,283 | 3,867,477 | 731 | 6.31 | 39 |
P715941 | 511,309 | 3,867,466 | 722 | 4.97 | 92 |
P715929 | 511,325 | 3,867,460 | 716 | 3.94 | 76 |
P715928 | 511,338 | 3,867,467 | 719 | 2.67 | 16 |
P715932 | 511,318 | 3,867,473 | 723 | 2.60 | 16 |
P715937 | 511,312 | 3,867,471 | 724 | 2.41 | 23 |
P715948 | 511,272 | 3,867,547 | 741 | 1.885 | 15 |
P715938 | 511,311 | 3,867,470 | 723 | 1.535 | 19 |
P715962 | 510,123 | 3,868,507 | 815 | 0.007 | 849 |
P715897 | 510,691 | 3,867,875 | 771 | 0.006 | 529 |
P715961 | 511,120 | 3,867,638 | 773 | 0.418 | 339 |
P715960 | 511,120 | 3,867,638 | 773 | 0.221 | 253 |
P715916 | 510,879 | 3,867,620 | 748 | 0.009 | 221 |
P715917 | 510,879 | 3,867,620 | 748 | 0.012 | 215 |
P715900 | 510,927 | 3,867,599 | 753 | 0.012 | 134 |
The reader is cautioned that grab samples are selective by nature and do not necessarily represent the true metal content of the mineralized zones. Complete rock sampling results are available on the Company’s website
GOLD CYANIDE SOLUBILITY
To assess gold recovery in a preliminary fashion, 66 samples from gold mineralized intercepts (0.100 g/t Au cutoff grade) from three 2022 RC drill holes were selected for cyanide solubility testing, all of which had been previously assayed using fire assay (see news releases dated
Table 4: Summary of preliminary gold cyanide solubility data for
Hole | From (m) | To (m) | Intercept (m) | Au (g/t) | AuCN* Recovery % (Average) |
W22-RC-008 | 107.5 | 160.0 | 52.5 | 0.235 | 75 |
W22-RC-013 | 134.5 | 154.0 | 19.5 | 0.417 | 81 |
W22-RC-022 | 79.0 | 106.0 | 27.0 | 0.219 | 95 |
Gold recovery based on cyanide shakes (“AuCN”) run on all samples within the reported interval with Au assays (via fire assay) at a 0.100 g/t Au. Recovery% is defined as the ratio of gold grade measured by A) a cyanide shake flask test and B) conventional fire assay. A/B*100 = Recovery %. This is an arithmetic average and not weighted. See news releases data
Figure 2: 3D view across the southern half of the Waterloo property showing the relationship of the silver MRE with gold mineralization in drilling, as reported
SAMPLING AND QUALITY ASSURANCE/QUALITY CONTROL
Drilling was undertaken by
Drilling and surface samples were prepared at ALS Reno (Prep-31 package) with each sample crushed to better than 70% passing a 2 mm (Tyler 9 mesh,
The Company maintains its own comprehensive quality assurance and quality control (“QA/QC”) program to ensure best practices in sample preparation and analysis. The QA/QC program includes the insertion and analysis of certified reference materials, commercial pulp blanks, preparation blanks, and field duplicates to the laboratories. Apollo’s QA/QC program includes ongoing auditing of all laboratory results. The Company’s Qualified Person is of the opinion that the sample preparation, analytical, and security procedures followed are sufficient and reliable. The Company is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data reported herein.
ABOUT THE PROJECT
Location
The Project is located in
Geology and Mineralization
QUALIFIED PERSONS
The scientific and technical data contained in this news release was reviewed, and approved by
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer
About Apollo Silver Corp.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
CautionaryStatementRegarding“Forward-Looking”Information
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation, statements with respect to the potential of the
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused 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: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; contests over title to properties; changes in project parameters as plans continue to be refined; and impact of the COVID-19 pandemic. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred mineral resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and barite; the demand for silver, gold and barite; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. 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 forward-looking statements will prove to be accurate and 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 contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/5d225b00-2a0d-4b53-b06e-c7513d8e2970
https://www.globenewswire.com/NewsRoom/AttachmentNg/67d91d6e-abfd-407f-8a57-802acc45f0f8
For further information, please contact:Tom Peregoodoff Chief Executive Officer Telephone: +1 (604) 428-6128 tomp@apollosilver.com
Figure 1
Drill hole collar locations for results reported February 14, 2023 , for Phase 2 of the Calico Project 2022 Drill Program and select surface sampling.
Figure 2
3D view across the southern half of the Waterloo property showing the relationship of the silver MRE with gold mineralization in drilling, as reported February 14, 2023 for the Calico Project .
2023 GlobeNewswire, Inc., source