(TheNewswire)
February 17, 2021 - TheNewswire- Vancouver, BC. - Apex Resources Inc. ("Apex”) (TSXV:APX)is pleased to announce it has received final assay results for the 2019-2020 diamond drill program at its Ore Hill property insoutheastern BC. The results have successfully expanded anddemonstrated strike continuity to the previously known mineralization. Twelve drill holes have been completed on the property with 47significant gold intersections obtained from the holes.
Highlights of the drilling are as follows:
- OH19-1 : 2.02 g/tAu over 5.90metres *
- OH19-1: 289.97 g/tAu over 0.30metres *
- OH19-2: 6.93 g /t Au over 0.85metres *
- OH20-4: 2.76 g /tAu over 4.63metres*
- OH20-4: 11.02 g /tAu over 1.06metres*
- OH20-5 : 3.17 g/tAu over 2.00 metres
- OH20-5: 8.34 g/tAu over 0.41 metres
- OH20-7: 7.10 g/tAu over 1.11 metres
- OH20-8 : 5.40 g/tAu over 0.67 metres
- OH20-8: 35.40 g/tA u over 0.31 metres
- OH20-8: 4.73 g/t Au over 2.00 metres
- OH20-9: 5.27 g/tAu over 1.59 metres
- OH20-10: 2.11 g/tAu over 1.41 metres
- OH20-10: 3.21 g/tAu over 0.89 metres
- OH20-12: 1.63 g/tA u over 2.00 metres
Note: * indicates a previously reported assay. Theseresults are not necessarily indicative of all of the mineralization onthe property.
The drill program is testing a 1,500 metre-long, goldin soil anomaly on the 2,000-hectare property. To date 12 drill holeshave been completed from 7 drill stations along a 500-metre-longsection of the soil anomaly. Forty-seven significant goldintersections were obtained from 11 of the drill holes. Thirty-five ofthe intersections assayed greater than 1.0 g/t with thirteen of theintersections exceeding 5.0 g/t gold.
Many of the holes intersected multiple zones of goldmineralization associated with a sheeted quartz vein system. Twostyles of mineralization are seen: veins containing only native goldand veins carrying gold values with associated silver lead and zincvalues. Highest silver values were obtained from holes at the northend of the test area. Hole OH20-6 assayed 172.20 g/t silver across a core length of 0.43 metres and 198.0 g/t silver across 0.15metres. Hole OH20-7 assayed 35.90 g/t silver across 1.32 metres, OH20-8assayed 42.80 g/t silver across 0.43 metres and OH20-9 assayed 39.60g/t silver across 1.59 metres.
Detailed drilling results and intersection widths forthe twelve holes are tabled below. Intersections are reported ascore lengths as there is presently insufficient information on the strike and dip of the veins to determine truewidths. A drill hole location plan map is presented at the end of thisrelease.
Gold Assays - Ore Hill Drill Holes OH19-1 toOH20-12
From_m | To_m | Length_m | Au_g/t | Ag g/t | Pb % | Zn % | |
27.6 | 41.0 | 13.4 | 1.13 | ||||
Including | 27.6 | 33.5 | 2.02 | ||||
Including | 27.6 | 28.6 | 1.00 | 8.26 | |||
92.6 | 92.9 | 0.30 | 7.49 | 5.30 | |||
178.6 | 178.9 | 0.30 | 7.80 | ||||
OH19-2* | 7.8 | 8.8 | 1.00 | 2.35 | |||
62.0 | 63.08 | 1.08 | 3.00 | 1.60 | |||
83.2 | 83.7 | 0.5 | 5.22 | 32.10 | 1.00 | 0.73 | |
190.9 | 191.2 | 0.3 | 7.87 | 1.40 | |||
213.4 | 213.7 | 0.3 | 1.99 | 1.20 | |||
222.7 | 223 | 0.3 | 1.01 | ||||
226.3 | 227.15 | 0.85 | 22.10 | ||||
235.1 | 237.2 | 2.1 | 1.54 | ||||
Including | 235.1 | 235.4 | 0.3 | 8.24 | |||
57.0 | 59.0 | 2.00 | 0.66 | ||||
95.0 | 96.15 | 1.15 | 0.65 | ||||
137.75 | 138.2 | 0.45 | 0.59 | ||||
147.87 | 152.5 | 4.63 | |||||
Including | 147.87 | 148.93 | 1.06 | 30.70 | 0.71 | 1.19 | |
Including | 147.87 | 148.17 | 0.30 | 32.90 | 71.00 | 1.00 | 3.52 |
182.07 | 182.25 | 0.18 | 3.40 | ||||
OH20-5 | 115.00 | 123.00 | 8.00 | 1.02 | |||
Including | 115.00 | 117.00 | 2.00 | ||||
141.17 | 143.86 | 2.67 | 1.37 | 2.19 | 0.18 | 0.85 | |
Including | 143.45 | 143.86 | 0.41 | ||||
Hole_ID | From_m | To_m | Length_m | Au_g/t | Ag g/t | Pb % | Zn % |
302.30 | 302.68 | 0.38 | 1.75 | ||||
OH20-6 | 21.98 | 22.41 | 0.43 | 1.30 | 0.40 | 7.90 | |
64.58 | 64.73 | 0.15 | 0.62 | 198.00 | 3.89 | 2.96 | |
77.29 | 79.00 | 1.71 | 1.84 | ||||
19.95 | 21.27 | 1.32 | 2.47 | 35.90 | 2.36 | 0.68 | |
55.58 | 56.69 | 1.11 | 1.30 | 0.04 | 1.17 | ||
71.07 | 71.40 | 0.33 | 0.93 | ||||
OH20-8 | 21.87 | 22.3 | 0.43 | 1.74 | 5.52 | 4.11 | |
68.12 | 68.79 | 0.67 | 10.29 | 0.64 | 0.36 | ||
69.89 | 70.50 | 0.61 | 18.28 | 7.54 | 0.52 | 0.85 | |
Including | 70.19 | 70.50 | 0.31 | 13.10 | 0.93 | 1.64 | |
88.00 | 90.00 | 2.00 | |||||
105.46 | 106.06 | 0.60 | 0.64 | ||||
OH20-9 | 24.64 | 25.13 | 1.18 | 0.87 | 0.99 | 0.98 | |
75.04 | 75.24 | 1.59 | 39.60 | 2.71 | 4.92 | ||
OH20-10 | 12.3 | 14.18 | 1.88 | 1.59 | |||
17.88 | 19.29 | 1.41 | |||||
24.15 | 26.2 | 2.05 | 0.55 | ||||
28.25 | 30.37 | 2.12 | 0.89 | ||||
55.54 | 57.6 | 2.06 | 1.45 | 0.58 | |||
61.45 | 63.12 | 1.67 | 1.95 | ||||
Including | 61.45 | 62.34 | 0.89 | ||||
OH20-11 | 11.74 | 12.24 | 0.50 | 0.93 | 12.80 | ||
48.58 | 49.76 | 1.18 | 1.04 | 0.70 | |||
OH20-12 | 13.7 | 15.7 | 2.00 | 0.58 | 0.40 | ||
45.8 | 48.51 | 2.71 | 0.58 | 1.41 | |||
Including | 48.31 | 48.51 | 0.20 | 1.62 | 10.00 | 1.925 | 1.90 |
58.2 | 60.2 | 2.00 | 0.40 | ||||
72 | 73.83 | 1.83 | 1.79 | 0.80 | |||
87.63 | 87.83 | 0.20 | 1.80 | 2.90 | 0.11 | 2.24 | |
143.3 | 143.5 | 0.20 | 1.10 | 19.00 | 1.59 |
Note: * indicates a previously reported assay.These results are not necessarily indicative of all of themineralization on the property.
Collar Coordinates - Ore Hill Drill Holes OH19-1 toOH20-12
Hole_ID | UTM - E | UTM - N | Azimuth (degrees) | Dip (degrees) | EOH (m) |
OH19-1 | 489407 | 5441150 | 160 | -60 | 182.88 |
OH19-2 | 489375 | 5441165 | 160 | -45 | 245.88 |
OH20-3 | 489374 | 5441063 | 160 | -50 | 97.6 |
OH20-4 | 489374 | 5441063 | -90 | 221.97 | |
OH20-5 | 489292 | 5441081 | 170 | -50 | 316.43 |
OH20-6 | 489504 | 5441309 | 285 | -65 | 127.12 |
OH20-7 | 489504 | 5441309 | -90 | 188.58 | |
OH20-8 | 489504 | 5441309 | 285 | -78 | 161.20 |
OH20-9 | 489497 | 5441262 | 285 | -50 | 127.60 |
OH20-10 | 489488 | 5441157 | 295 | -75 | 113.1 |
OH20-11 | 489488 | 5441157 | -90 | 70.20 | |
OH20-12 | 489488 | 5441157 | 217 | -89 | 149.20 |
In the current program drill stations are situated at50 to 80 metre intervals along the soil anomaly. Drilling has nowsuccessfully tested a 500-metre-long section of the soil anomalylocated between the historic Summit Mine to the south and the historicOre Hill Mine to the north. The favorable drill results havedemonstrated that soil geochemistry and surface rock sampling areexcellent tools for tracing mineralization on the Ore Hill property.
The historic mine workings of the Sheep Creek Minelocated immediately north of the Ore Hill property found that the goldveins increase in width at depth. In the Sheep Creek Mine the mostproductive sections of the veins occurred between 400 metres and 850metres below the elevation of Ore Hill (BCGS Bulletin 31). If thesituation is similar at Ore Hill there is a potential vertical extentof roughly 850 metres for the veins. Deep drilling is required toinvestigate this possibility.
Qualified Person and Quality Control
The Ore Hill program is planned and supervised byApex's consulting geologist, Perry Grunenberg, P.Geo. Perry Grunenbergis a "Qualified Person" for the purpose of NI 43-101 and hasread and approved the contents of this news release. In the field,permit approved drill hole collar locations are determined with ahand-held GPS unit having an accuracy of +/- three metres. Collarsites are marked for later conventional surveying. Drill holeorientation is determined with a Reflex Gyro downhole surveyinginstrument.
On site, the core is delivered to the Company's securefacility in Salmo, BC where it is logged, split, tagged, sealed andshipped for analysis. The Company's consulting geologists, BernhardtAugsten, P.Geo. and Patrick Williams log and supervised the splitting,sealing and shipping of the samples for assay. Quality control ismonitored by the insertion of certified standard reference materialsand blanks at regular intervals into each sample shipment. For futurereference, half of all drill cores was retained and is stored at theCompany's secure facility in Salmo, BC.
Drill core samples are shipped via ground transport tothe ALS Global - Geochemistry Analytical Lab in North Vancouver, BC,for analysis for gold and an additional 35 elements. The ALS facilityis accredited to the ISO 9001:2015 standard for analytical methods.
In the laboratory, the entire sample is crushed to 70%less than 2mm and 250 grams are pulverized. Analysis for gold is by30g fire assay fusion with an atomic absorption (AAS) finish having alower limit of 0.01 ppm and upper limit of 50 ppm. Samples withvisible gold are re-analyzed using a 500g screen metallic fire assay.All samples are also analyzed by a 35 multi-elemental InductivelyCoupled Plasma (ICP) geochemical package.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@apxresources.com or info@apxresources.com
This release was prepared by Apex's management. NeitherTSX Venture Exchange nor its Regulation Services Provider (as the termis defined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release. This newsrelease includes certain statements that may be deemed"forward-looking statements." All statements in thisrelease, other than statements of historical facts, that addressfuture production, reserve potential, exploration drilling,exploitation activities and events or developments that Apex expectsare forward-looking statements. Although Apex believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those in the forward-looking statements. Factors that could causeactual results to differ materially from those in forward-lookingstatements include market prices, exploitationand exploration successes, and continued availability of capital andfinancing, and general economic, market or business conditions.Investors are cautioned that any such statements are not guarantees offuture performance and those actual results or developments may differmaterially from those projected in the forward-looking statements. Formore information on Apex, investors should review Apex's filings thatare available at www.sedar.com or Apex's website at www.apxresources.com .
Copyright (c) 2021 TheNewswire - All rights reserved.