VANCOUVER, British Columbia, April 21, 2023 (GLOBE NEWSWIRE) — Apollo Silver Corp. (“Apollo” or “Company”) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF0) We are pleased to announce that we have submitted an independent technical report on the updated Mineral Resource Estimate (“MRE”) for the Calico Silver Project (“Calico” or “Project”). The report titled “NI 43-101 Technical Report for the Mineral Resource Estimate of the Calico Silver Project, San Bernardino County, California, USA” is dated April 20, 2023 (effective February 8, 2023). ) (“Technical Report”). Technical reports can be found on the company’s publisher profile on SEDAR (www.sedar.com) and on his company website (www.apollosilver.com).
Technical Report prepared by Stantec Consulting Ltd. (“Stantec”) of Denver, Colorado in accordance with National Instrument 43-101 (“NI 43-101”) Mineral Project Disclosure Standards. The technical report does not materially differ from the results disclosed in the company’s press release dated March 6, 2023. Highlights of the MRE announced on March 6, 2023 include:
- 110 million ounces (“Moz”) of silver classified as weighed and labeled (“M&I”) and declared at Waterloo with an average grade of 100 grams per tonne (“g/t”) of silver I have.
- Classified as 81% (90 Moz) Measured at 103 g/t silver1.
- 95% of estimated silver ounces converted to M&I1.
- 51 Moz Silver Classified as Presumptive:
- 720,000 ounces of silver at the Waterloo property1
- 50 Moz Silver at Langtry Properties2
- Estimated 70,000 ounces of gold oxide added to Waterloo metal inventory1.
- A conservative base case estimate uses a silver cutoff grade of 50 g/t1.
- Low strip ratio of 1.1:1 for waterloo silver resources1.
- Significant growth opportunities remain.
1of technical report Developed by Derek Loveday, P. Geo. (“Qualified Person”) of Stantec, an independent “Qualified Person” as defined in NI 43-101, in collaboration with Maria Kartick, P. Geo.Stantech’s (Independent Qualified Person for Drilling Data Quality Control and Quality Assurance) and Eric Hill, PE, samuel engineering (Independent Qualified Person for Metallurgical Testing Work). of Waterloo Mineral Resource Estimate Prepared in accordance with the Canadian Mining, Metallurgical and Petroleum Institute (“CIM”) Guidelines for Estimation of Mineral Resources and Mineral Reserves and reported in accordance with NI 43-101.of Waterloo Mineral Resource Estimate Effective date is February 8, 2023. Mineral resources are not mineral reserves and economic viability has not been demonstratedThere is no certainty that mineral resources will be converted into mineral reserves.
2Drilling at Langtry has not been completed since the Company disclosed its 2022 Mineral Resource Estimates (“2022 MRE”) on February 9, 2022. property, Has an effective date January 2August 8, 2022, Remains No change, now. The 2022 MRE was created by Derek Loveday of P. Geo. of Stantec, an independent qualified person. Langtry Property Mineral Resource Estimation from 2022 It is restated in the technical report.
About Calico Project
position
The Calico Project is located in San Bernardino County, California and consists of adjacent Waterloo and Langtry facilities totaling 2,950 acres. The Calico Project is located 9 miles (15 kilometers) from the city of Barstow and 3 miles (5 kilometers) from utility power, with an extensive network of private gravel roads spanning the site.
geology and mineralization
The Calico Project is located in the southern Calico Mountains in the Mojave Desert in the southwestern Basin and Range Tectonic State. This 15 km (9 mi) long northwest-southeast mountain range is composed primarily of Tertiary (Miocene) volcanic, pyroclastic, sedimentary rock, and dacitic intrusions. increase. Mineralization at Calico consists of high levels of low silver sulfide-dominant hydrothermal, stockwork-type, associated with northwest-trending faults and shatter zones, and volcanic activity in the Middle Tertiary (~19–17 Ma) , and seeding types. Calico represents the donation of a regional scale mineral system of approximately 6,000 m (19,685 ft) in mineralized strike length managed by the company. Silver and gold mineralization is oxidized and hosted in the sedimentary layers of the Barstow Formation and the upper pyroclastic layers of the Pickhandle Formation along the contacts between these layers.
qualified person
Scientific and technical data contained in this news release have been reviewed and approved by Derek Loveday (P. Geo.) and Maria Kartick (P.Geo.) of Stantec and Eric Hill (PE) of Samuel Engineering. rice field. All are qualified and independent from the company. Mr. Loveday is a Professional Geoscientist registered in Alberta, Canada, responsible for mineral resource estimates. Ms. Kartick is a Professional Geoscientist registered in Ontario, Canada and is responsible for her QA/QC of drilling data for estimation purposes and Ms. Hill is a Professional Engineer registered in the United States who performs metallurgical testing work. I am in charge.
This news release has also been reviewed and endorsed by Isabelle Lépine, M.Sc., P.Geo., Apollo’s Director of Mineral Resources. Mr. Lépine is a Professional Geoscientist registered in the Province of British Columbia, Canada and is not independent of the Company.
For more information, please visit www.apollosilver.com.
On behalf of the Board of Directors
Tom Peregudoff
chief executive officer
About Apollo Silver Corporation
Apollo Silver Corp. has assembled an experienced and technically strong leadership team and joined to drive a world-class precious metals project in a Tier 1 jurisdiction. The company is focused on advancing a portfolio of two significant silver exploration and resource development projects: the Calico Silver Project in San Bernardino County, California and the Silver District Project in La Paz County, Arizona.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward-looking statements” and “forward-looking information” within the meaning of the Canadian securities laws. All statements in this news release, other than statements of historical fact, are forward-looking statements, including, but not limited to, statements regarding the potential of the Calico Project. Possible identification of gold and barite resources in Calico. Potential for expanding resource estimates and improving their confidence levels, including future mineralization during strikes and at depth. Forward-looking statements include projections, projections, predictions and often, but not always, “anticipate,” “believe,” “plan,” “estimate,” “expect,” Identified using words such as “may”. ‘goals’, ‘budgets’, ‘intentions’ and events or outcomes ‘could’, ‘will’, ‘should’, ‘could’ or ‘could’ ” and other similar expressions and their negative forms.
Forward-looking statements are made by our management in light of our management’s experience, trends, perceptions of current conditions, expected developments and other factors determined by our management. Based on reasonable assumptions, estimates, analyses, and opinions. We believe that such statement is relevant and reasonable under the circumstances of the day on which it was made. Forward-looking information is based on reasonable assumptions made by the Company at the time such information was posted and is subject to any known statements that may have caused actual results, levels of activity, performance or outcomes. and subject to unknown risks, uncertainties and other factors. Company risks that differ materially from those expressed or implied by such forward-looking information. prices of metals and minerals; availability of capital; accuracy of our forecasts and estimates; Realization of mineral resource estimates, interest rates and exchange rates. competition; stock price fluctuations; rig and access availability; and actual results of current exploration activity. government regulations; political or economic developments; environmental risks; insurance risks; capital expenditures; personnel relationships; disputes over property ownership; As plans continue to be refined, project parameters change. Impact of the COVID-19 pandemic. Mineral resource estimates can be materially affected by environmental, permitting, legal, property, taxation, socio-political, marketing or other related issues. The quantities and grades of the Inferred Mineral Resources reported in this estimate are inherently uncertain, and there has been insufficient exploration to define these Inferred Mineral Resources as Specified or Measured Mineral Resources, and further exploration is warranted. It is unclear whether they upgrade to a designated Mineral Resource or a Measured Mineral Resource category. Forward-looking statements are based on assumptions that management believes to be reasonable. Demand for silver, gold and barite. Ability to conduct exploration and development activities. Timely receipt of required approvals. Ability to obtain appropriate personnel, equipment and services in a timely and cost-effective manner. the ability to operate safely, efficiently and effectively in the matter; the regulatory framework regarding environmental matters and other assumptions and factors set forth in this document; Although we have attempted to identify important factors that could cause our actual results to differ materially from those contained in the forward-looking information, we do not believe that results were anticipated, estimated or intended. There may be other factors that cause different. There can be no assurance that forward-looking statements will prove to be accurate or actual results, and future events may differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the 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 our expected financial and operating results and our plans and objectives and is not suitable for any other purpose. there is. We do not undertake to update forward-looking information, except in accordance with applicable securities laws.
