(TheNewswire)
September 14, 2021 – TheNewswire - Vancouver, BC - ApexResources Inc. ( " Apex" or "theCompany") (TSXV:APX) (OTC:SLMLF) has filed the technical report for the updated TungstenResource Estimate on its Jersey Emerald Project as per its September10, 2021 news release.
The study is a total deposit resource that included theEmerald, East Emerald, Invincible, Dodger, East Dodger and Dodger 4200tungsten zones. The results of the study confirma significant tungsten (WO3) resource on the property with associatedgold and molybdenum. The report shows an Indicated Resource of1,472,803 tonnes at a grade of 0.173% WO3, 0.050g/t Au and 0.021% Mo. There is an additional Inferred Resource of 5,128,045 tonnes at agrade of 0.227% WO3, 0.081g/t Au and 0.026% Mo.
The report concludes that the mineral resource estimatewarrants further exploration to upgrade the classification of knownzones. The QP recommends a two phase $1.3M re-assay and drillingprogram to infill the WO3 mineralized zones, potentially add to theassociated Mo and Au zones and to better define the remaining Pb-Znmineralization.
The updated Technical Report was prepared by Sue Bird,P.Eng., a Geological Engineer with Moose Mountain Technical Services.Sue Bird is a Qualified Person as defined in National Instrument43–101 Standards of Disclosure for Mineral Projects (NI 43–101)and has reviewed and approved the contents of this newsrelease.
About Tungsten:
Tungsten is an extremely hard anddurable metal with the highest melting point of all elements. Because of these qualities it is vital to a broad range ofcommercial and military applications. A recent U.S. Geological Surveyassessment ranked tungsten near the top of its list of mineralcommodities that are most at risk to supply disruptions. The EU's 2020list of Critical Raw Materials gave tungsten the highest score of allmetals in terms of economic importance. There are currently no NorthAmerican mines producing tungsten. Instead, the U.S. and Canada dependon recycling and imports to meet their tungsten needs.
According to the U.S. Geological Survey annual report,China has a near monopoly on the mining of tungsten and accounts formore than 80% of global production. Recently China’s tungstenproduction has been dropping and the tungsten price has been rising.Because of possible supply disruptions tungsten is on the CriticalMinerals Lists for the USA, Canada and the EU.
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 address future production, reservepotential, exploration drilling, exploitation activities and events ordevelopments that Apex expects are forward-looking statements.Although Apex believes the expectations expressed in suchforward-looking statements are based on reasonable assumptions, suchstatements are not guarantees of future performance and actual resultsor developments may differ materially from those in theforward-looking statements. Factors that could cause actual results todiffer materially from those in forward-looking statementsinclude market prices,exploitation and exploration successes, and continued availability ofcapital and financing, and general economic, market or businessconditions. Investors are cautioned that any such statements are notguarantees of future performance and those actual results ordevelopments may differ materially from those projected in theforward-looking statements. For more information on Apex, investorsshould review Apex's filings that are available at www.sedar.com orApex's website at www.apxresources.com .
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