Apex Resources Provides Exploration Update for its Ore Hill Gold Project, BC
October 13, 2020 - Apex Resources Inc. ("Apex") (TSXV:APX) is pleased to announce that 1,600 metres of NQ diamond drilling in 10 holes have been completed on its Ore Hill Gold Property in southeastern British Columbia. The drill program is testing a 1,500 metre-long, gold in soil anomaly where a preliminary, two-hole drill program in 2019 intersected several significant new gold zones including 289.97 g/t gold over 0.30 m (see Dec. 17, 2019 News Release). A mapping and sampling program in 2017-2018 demonstrated the potential for widespread mineralization along the soil anomaly. The 2017-18 program returned gold values of 1.0 gram per tonne (g/t) gold or better for 33 surface grab samples taken along a 1,000-metre section of the soil anomaly. Fifteen of the samples returned greater than 10.0 g/t including 119 g/t (or 3.8 oz/ton) and 105 g/t Au (or 3.4 oz/ton) (see Dec. 17, 2019 News Release).
In the current program, drill stations are situated at 50- to 80-metre intervals along the soil anomaly. Drilling has now successfully tested a 500-metre section of the soil anomaly at 7 drill stations located between the historic Summit mine to the south and the historic Ore Hill mine to the north. The favourable geology trends through the area tested and the company plans to extend drilling to the south.
The core is presently being logged and split at the company's secure core storage facility in Salmo, B.C. by consulting geologists, Bernhardt Augsten P.Geo. and Patrick Williams P.Geo. The QA/QC samples are also being prepared, sealed and maintained in custody before being shipped via ground transport to the ALS Global - Geochemistry Analytical Lab in North Vancouver, BC, for analysis for gold and an additional 35 elements. The ALS facility is accredited to the ISO 9001:2015 standard for analytical methods.
The Ore Hill property is located in the historic Sheep Creek Gold Mining Camp. The Sheep Creek camp has reported historic production of 780,000 ounces of gold at an average grade of 14.4 g/t. Sheep Creek mineralization is comprised of high-grade gold veins similar to the Barkerville Gold camp located in a similar geologic setting 550 km to the northwest.
Apex's Ore Hill exploration program is being conducted under the supervision of Perry Grunenberg, P.Geo. Mr. Grunenberg, is a "Qualified Person" for the project and has read and approved the contents of this news release.
Apex is currently in the process of a non-brokered private placement offering to finance an expanded exploration program (see Sept. 16, 2020 News Release).
About Apex Resources Inc.
Apex is a Canadian mining exploration and development company focused on British Columbia and the Yukon Territories. Apex has a portfolio of quality properties including:
-
1.The Mount Anderson gold-silver property in the Yukon.
-
2.The Kena-Daylight gold property in southern BC under option to Boundary Copper and Gold Mining Ltd.
-
3.The Jersey-Emerald tungsten-zinc property in southern BC.
-
4.The Ore Hill gold property in southern BC.
Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper-gold-molybdenum porphyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under development 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'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.
