Apex Resources Inc. Reports Geophysical Survey Results, Golden Triangle Properties, BC
Vancouver, June 26, 2017 - Apex Resources Inc. (TSX-V: APX, the "Company" or "Apex") is pleased to announce that it has received results of a helicopter-borne electromagnetic and magnetic geophysical survey of its Cloud and Eldorado properties in BC's Golden Triangle. The survey was carried out by Geotech Ltd. of Aurora, Ontario. The surveys targeted strong high level magnetic anomalies located on the two properties in search of massive sulphide style mineralization similar to the adjacent historic 15.5 million tonne Granduc Mine deposits. Results of the surveys successfully outlined the targeted magnetic features with results suggesting that the properties also have the potential to host bulk tonnage porphyry style mineralization.
On the Cloud property the survey shows a number of large low magnetic areas both within and adjacent to the targeted magnetic high anomaly. These large lows may represent areas where magnetic minerals have been destroyed by hydrothermal alteration that accompanied the emplacement of porphyry style mineralization.
Field work, consisting of mapping, sampling and prospecting will be conducted to follow up the magnetic survey results. This field program will be carried out simultaneously with exploration of the nearby Wild Property. On the Wild Property exploration will focus on an 8.0 kilometre long structure that is believed to control mineralization at two previously identified mineral showings: the A Zone and the B Zone. At the A Zone, located near the north end of the Wild property, a 0.5 metre wide quartz vein assayed 367.5 g/t silver and 1.55 g/t gold. At the B Zone, located one kilometre south of the A Zone, a 0.35 metre wide quartz vein assayed 72.3 g/t silver and 4.05 g/t gold (see News Release of May 31, 2017).
Apex is presently focused on exploration of its Red Ridge and Mt. Anderson Properties in the Yukon. Aurora Geosciences Ltd. of Whitehorse, Yukon are currently carrying out mapping and sampling programs over the Red Ridge property (see News Release of June 19, 2017). The project is supervised by Carl Schulze, P.Geo. Perry Grunenberg, P.Geo., has been contracted to complete a compilation of all historic property work on the Mt Anderson Property (see News Release of March 1, 2017).
Ms. Linda Dandy, P.Geo., Director is Apex's project supervisor and "Qualified Person" for the purpose of NI 43-101, "Standards of Disclosure for Mineral Projects".
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'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.
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