(TheNewswire)
November 17, 2020 - TheNewswire - Vancouver, BC. - Apex Resources Inc.("Apex") (TSXV:APX) is pleased toannounce that diamond drilling at its Ore Hill property insoutheastern BC has extended the gold-bearing zone intersected in itsinitial two 2019 diamond drill holes (see Dec17, 2019 news release) . Final assays have been received for Hole OH20-4 collared 100 metres south of previous holeOH19-2 . Five zones of goldenrichment were intersected in the hole . Thehighlight of the assays in hole OH20-4 was a 30cm intercept that returned32.90 g/t gold within a 4.63 metre section that assayed2.76 g/t.
Gold assays and intersection widths for diamond drill hole OH20-4 are tabledbelow. There is presently insufficient information to determine howintersection widths relate to true widths.
Gold Assays - Ore Hill Drill HoleOH20-04
Hole_ID | From_m | To_m | Length_m | Gold_g/t |
OH20-4 | 57.0 | 59.0 | 2.00 | 0.656 |
95.0 | 96.15 | 1.15 | 0.645 | |
137.75 | 138.2 | 0.45 | 0.589 | |
147.87 | 152.5 | 4.63 | 2.76 | |
Including | 147.87 | 148.93 | 1.06 | 11.02 |
Including | 147.87 | 148.17 | 0.30 | 32.90 |
182.07 | 182.25 | 0.18 | 3.40 |
Hole OH20-4 was collared at UTM coordinates 489374 E5441063 N anddrilled to a depth of 222.0 metres at a dip of -90 o . Hole OH20-3 collared at the same location as OH20-4 was drilled into theunmineralized wall rocks to the east of the mineralized zone. HoleOH20-3 was drilled to a depth of 97.6 metres at a dip of-50 o and a bearing of 160 o . The hole was unmineralized but providedimportant geological information.
Assays are pending for an additional 8 drill holes witha combined total of 1,255.0 metres of NQ core.
The 2,000 hectare Ore Hill Property is located 45kilometres south of the town of Nelson, BC in the historic Sheep Creekgold mining camp. The property covers workingsof the former Ore Hill, Summit and Bonanza mines. The present drill program is investigating a 1,500 metre-long gold in soil anomaly that extends north andsouth from the historic Summit Mine. Rock chipsampling completed in 2017 and 2018 obtained a number of high-gradegold assays, along the trace of the gold soil anomaly indicating anextensive mineralizing system with significant size andstrength.
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.
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'smanagement. Neither TSX Venture Exchange nor its Regulation ServicesProvider (as the term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease. This news release includes certain statements that may bedeemed "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, exploitation and exploration successes,and continued availability of capital and financing, and generaleconomic, market or business conditions. Investors are cautioned thatany such statements are not guarantees of future performance and thoseactual results or developments may differ materially from thoseprojected in the forward-looking statements. For more information onApex, investors should review Apex's filings that are available atwww.sedar.com or Apex's website at www.apxresources.com .
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