Apex Resources Commences Exploration at its Ore Hill Gold Project
September 4, 2019 - TheNewswire - Vancouver, BC - Apex Resources Inc. ("Apex") (TSXV:APX) (OTC:SLMLD) is pleased to announce that an exploration program is now underway on its Ore Hill Gold Property in southeastern British Columbia. A 600 metre, Phase 1, diamond drill program is currently being carried out in order to investigate an important new style of gold mineralization along a 1,500 metre long soil anomaly.
The 2,000 hectare Ore Hill Property lies at the southern end of the historic Sheep Creek gold camp and along the eastern margin of the Jersey-Emerald lead, zinc and tungsten property. The property covers the former Ore Hill, Summit and Bonanza mines.
Historical mining on the Ore Hill property focused on narrow high grade, quartz veins. Production was 3,335 tonnes averaging 34.7 g/t gold and 60.7 g/t silver (BC Minfile Reports 82FSW054 & 082FSW053). Recent exploration shows gold mineralization also occurs within a breccia zone, up to 10 metres wide, adjacent to a north trending fault. A large, strong gold soil anomaly traces the fault for over 1,500 metres across the Summit and Ore Hill claims.
Limited drilling tested the breccia area in the late 1980s and early 1990s. Highlights of the drilling include the following intercepts:
- DDH 90-01 3.05m @ 8.09 g/t gold
- DDH 90-01 6.10m @ 2.91 g/t gold
- DDH 90-01 0.33m @ 33.31 g/t gold
- DDH 88-01 1.52m @ 4.42 g/t gold
- DDH 88-02 0.46m @ 11.04 g/t gold
Rock chip sampling completed in 2017 and 2018 returned a number of high grade gold assays, including 119 g/t and 105 g/t Au over a 950 m by 150 m area along the trace of the breccia zone. The results suggest that this recently identified new style of mineralization may represent an extensive mineralizing system with significant size and strength.
The present Phase 1 drill program will investigate the strike, dip and continuity of the mineralized breccia zone in preparation for Phase 2 drill testing.
Readers are cautioned that the grades and production figures quoted in this release are historical in nature and are based upon a variety of pre-NI 43-101 Standards for Disclosure sources, none of which can be verified at this time. The relationship between true widths and reported core length intervals is unknown at this time.
The Company has contracted Wade Critchlow Enterprises Ltd. of Salmo, BC to complete the planned drill program. The program is planned and supervised by Apex's consulting geologist, Perry Grunenberg, P.Geo. Perry Grunenberg is a "Qualified Person" for the purpose of NI 43-101. 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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