(TheNewswire)
October 13, 2020 - TheNewswire- Apex Resources Inc. ("Apex") (TSXV:APX) ispleased to announce that 1,600 metres of NQ diamond drilling in 10holes have been completed on its Ore Hill Gold Property in southeastern British Columbia. The drill program istesting a 1,500 metre-long, gold in soil anomaly where a preliminary,two-hole drill program in 2019 intersectedseveral significant new gold zones including 289.97 g/t gold over 0.30m (see Dec. 17, 2019 News Release).
A mapping and sampling program in 2017-2018demonstrated the potential for widespread mineralization along thesoil anomaly. The 2017-18 program returned gold values of 1.0 gram pertonne (g/t) gold or better for 33 surface grab samples taken along a1,000-metre section of the soil anomaly. Fifteen of the samplesreturned greater than 10.0 g/t including 119 g/t (or 3.8 oz/ton) and105 g/t Au (or 3.4 oz/ton) (see Dec. 17, 2019News Release).
In the current program, drill stations are situated at50- to 80-metre intervals along the soil anomaly. Drilling has nowsuccessfully tested a 500-metre section of the soil anomaly at 7 drillstations located between the historic Summit mine to the south and thehistoric Ore Hill mine to the north. The favourable geology trendsthrough the area tested and the company plans to extend drilling tothe south.
The core is presently being logged and split at thecompany's secure core storage facility in Salmo, B.C. by consultinggeologists, Bernhardt Augsten P.Geo. and Patrick Williams P.Geo. TheQA/QC samples are also being prepared, sealed and maintained incustody before being shipped via ground transport to the ALS Global -Geochemistry Analytical Lab in North Vancouver, BC, for analysis forgold and an additional 35 elements. The ALS facility is accredited tothe ISO 9001:2015 standard for analytical methods.
The Ore Hill property is located in the historic SheepCreek Gold Mining Camp. The Sheep Creek camp has reported historicproduction of 780,000 ounces of gold at an average grade of 14.4 g/t.Sheep Creek mineralization is comprised of high-grade gold veinssimilar to the Barkerville Gold camp located in a similar geologicsetting 550 km to the northwest.
Apex's Ore Hill exploration program is being conductedunder the supervision of Perry Grunenberg, P.Geo. Mr. Grunenberg, is a"Qualified Person" for the project and has read and approvedthe contents of this news release.
Apex is currently in the process of a non-brokeredprivate placement offering to finance an expanded exploration program(see Sept. 16, 2020 News Release).
Apex is a Canadian mining exploration and developmentcompany focused on British Columbia and the Yukon Territories. Apexhas a portfolio of quality properties including:
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1. The Mount Anderson gold-silverproperty in the Yukon.
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2. The Kena-Daylight gold propertyin southern BC under option to Boundary Copper and Gold MiningLtd.
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3. The Jersey-Emeraldtungsten-zinc property in southern BC.
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4. The Ore Hill gold property insouthern BC.
Apex management has a track record of mine discoverythat includes the discovery and development of the renowned Hemlo GoldMine in Ontario and the Mengapur copper-gold-molybdenum porphyrydeposit (225Mt @ 0.59% Cu equivalent) in Malaysia now underdevelopment by Monument Mining Ltd.
For further information on the Company's projects,visit www.apxresources.com .
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 explorationsuccesses, and continued availability of capital and financing, andgeneral economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance 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 .
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