Tickers: PINX:SLMLD, XTSE:APX
Tags: Mining
September 18, 2018 / TheNewswire / Vancouver, BC - Apex Resources Inc. ("Apex") (TSXV: APX) is pleased to announce that that it has received positive assay results for rock chip samples from its Mount Anderson Property, Yukon. The 2018 sample results have gold and silver values of 0.1 to 9.0 g/t gold and 1.4 to 1,034.0 g/t silver within the 2.0 square km Induced Polarization (IP) grid. Together with sample results obtained in 2017 the results show that elevated gold and silver values are associated with historic mineralized showings and alteration zones that occur along anomalous geophysical zones characterized by resistivity lows.
The mapping and rock chip sampling program was completed in August by Aurora Geosciences Ltd. of Whitehorse, YT to prepare the property for trenching and diamond drill testing. The mapping program focused on the previously reported IP geophysical grid where several large open ended chargeability and resistivity anomalies occur across the two kilometre length of the survey area (Aug 14, 2018 news release). During the mapping program rock chip samples were taken from areas of sub outcrop, float and colluvium in the geophysical target areas.
While following the geophysical trends the 2018 program discovered mineralized boulders up to 500 metres northwest of the Whirlwind zone and extended the Adanac zone 200 metres east to the eastern end of the geophysical grid. The following table gives the highlights of the rock sampling program from all samples taken over the IP geophysical survey area in 2017-18:
Showing Location | Sample No. | Width | Gold g/t | Silver g/t | Lead % | Geophysical Response |
491575E 6674081N | 611528* | Grab | 1.2 | 138.0 | 3.06 | Resistivity Low |
492020 E 6674036N | 611851* | Float | 1.6 | 1,102.0 | 10.54 | Resistivity Low |
492057 E 6674024N | 611852* | Float | 4.1 | 795.0 | 4.92 | Resistivity Low |
492065 E 6674026N | 611853* | Float | 2.4 | 1,948.0 | 14.27 | Resistivity Low |
491823E 6674083N | 611860* | 0.12m | 11.2 | 45.8 | 1.10 | Resistivity Low |
491927E 6674043N | 611862* | 0.08m | 26.0 | 724.0 | 16.39 | Resistivity Low |
491927E 6674066N | 611864* | Float | 5.3 | 1,803.0 | 14.27 | Resistivity Low |
491597E 6674039N | 611897* | Float | 6.4 | 31.0 | 0.20 | Resistivity Low |
491594E 6674042N | 611898* | Float | 1.7 | 173.0 | 3.63 | Resistivity Low |
490740E 6674317N | 618303 | 2.1 m | 0.2 | 93.2 | 1.83 | Resistivity Low |
490738E 6674317N | 618304 | Rubble | 0.3 | 1,034 | 22.16 | Resistivity Low |
490765E 6674404N | 618305 | Rubble | 1.9 | 209 | 1.18 | Resistivity Low |
490767E 6674405N | 618306 | Rubble | 0.3 | 470 | 1.08 | Resistivity Low |
490592E 6674645N | 618307 | Float | 0.6 | 189 | 0.47 | Resistivity Low |
490593E 6674646N | 618308 | Float | 3.1 | 38.3 | 0.46 | Resistivity Low |
490594E 6674678N | 618309 | Grab | 0.4 | 17.3 | 0.09 | Resistivity Low |
490611E 6674671N | 618310 | Grab | 0.7 | 174 | 0.11 | Resistivity Low |
491269E 6674418N | 618311 | Grab | 0.6 | 34.8 | 0.361 | Resistivity Low |
491570E 6674080N | 950457* | Grab | 22.5 | 925.0 | >10.0 | Resistivity Low |
491595E 6674090N | 950458* | Float | 67.5 | 2,058.0 | >10.0 | Resistivity Low |
491335E 6674270N | 950459* | Float | 1.4 | 100.0 | 0.1 | Resistivity Low |
492093E 6674049N | 1464268 | Grab | 0.6 | 5.5 | 0.05 | Resistivity Low |
492295E 6674008N | 1464269 | Grab | 9.0 | 9.1 | 0.06 | Resistivity Low |
* previously reported 2017 sample.
Results of the present program continue to confirm the historical showings and show a strong association with geophysical areas of low resistivity. Phase 2, excavator trenching followed by diamond drilling will test the geophysical targets and mineralized zones identified by the IP survey and rock sampling programs. Aurora Geoscience Ltd. has recommended an initial program to test the geophysical and geochemical targets with 1,400 metres of diamond drilling in 9 holes. The property is fully permitted for diamond drill testing.
Ms. Linda Dandy, P.Geo., Director and VP Exploration for Apex, is working with Carl Schulze, P.Geo., of Aurora Geosciences Ltd., in planning and coordinating the Mt. Anderson exploration programs. Ms. Dandy is a "Qualified Person" for the purpose of NI 43-101 and has reviewed and approved the contents of this news release.
For further information on Apex'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's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex's filings that are available at www.sedar.com or Apex's website at www.apxresources.com
Click Image To View Full Size
Copyright (c) 2018 TheNewswire - All rights reserved.
