Apex Resources Announces Exploration Plans for its High Grade Mt Anderson and Red Ridge Gold-Silver Properties, Yukon
March 2, 2018
Vancouver, BC - March 2, 2018: Apex Resources Inc. (TSX-V: APX) ("Apex") is pleased to announce that preparations are now underway for the 2018 exploration program on its Mt. Anderson and Red Ridge gold-silver properties, located near Carcross in southwestern Yukon Territory, Canada. Exploration work will focus on several target areas where high grade gold-silver mineralization was outlined in 2017 (see news releases of Sep 21, 2017, Oct 11, 2017 and Feb 1, 2018).
The 3,100 hectare, road accessible, Mt. Anderson Property is located 55 kilometres south of Whitehorse adjacent to the historic Mount Skukum gold mine. In 2017 a mapping and rock chip sampling program completed for Apex by Aurora Geosciences Ltd. of Whitehorse, YT returned assays to 67.0 g/t gold and 2,058.0 g/t silver (Oct 11, 2017 News Release). The property is host to five previously identified mineralized zones: the 47-Zone, the Adanac Zone, the Ridge Zone and the Rob and Fleming skarns. Results from 2017 rock sampling indicate the 47 and Adanac zones may represent trenched exposures of a larger mineralized trend.
A two-phase 2018 exploration program is presently planned for the Mount Anderson property. Phase 1 will involve detailed geological mapping and sampling, Induced Polarization (IP) surveying, a surface magnetometer survey and mechanized trenching. Phase 2 will comprise a diamond drilling program of 1,400 metres on 9 drill sites. Location of theses drill sites will be dependent upon the results from Phase 1.
The 1,630 hectare, road accessible, Red Ridge Property is located 45 kilometres south of Whitehorse and 16 kilometres north of the Mt. Anderson property. In 2017 assays to 22.3 g/t gold and 2,190 g/t silver were obtained from a surface sampling program (Sep 21, 2017 News Release). There are eight historic gold and silver showings on the Red Ridge Property: the Western, Miller, Saddle, Don, Vance, East, Moly and North Slope zones. A rock chip and soil geochemical sampling program completed in August by Aurora Geosciences Ltd. of Whitehorse, YT successfully confirmed and expanded a number of these historic showings.
A two-phase 2018 exploration program is presently planned for the Red Ridge Property. A detailed report providing the details of the 2018 program is expected to be available by mid-March.
Ms. Linda Dandy, VP Exploration for Apex, is presently working with Carl Schulze, P. Geo, of Aurora Geosciences Ltd., in planning and permitting the 2018 exploration programs for the two properties. Permit applications for both properties have now been submitted and letters describing the proposed programs have been forwarded to the Carcross-Tagish First Nation (CTFN) and Kwanlin Dun First Nation.
The Mount Anderson and Red Ridge exploration programs are being conducted under the supervision of Ms. Linda Dandy, P.Geo., Director. Ms. Dandy is a "Qualified Person" for the purpose of NI 43-101 and has reviewed and approved the contents of this news release.
About Apex Resources Inc.:
Apex is a Canadian gold exploration and development company focused on British Columbia and the Yukon Territories. Apex has a portfolio of quality properties including:
- The 1.9 million ounce Kena-Daylight gold property under option to Prize Mining Corp.
- The Jersey-Emerald tungsten-zinc property under option to Margaux Resources Ltd.
- The Mount Anderson gold-silver property in the Yukon.
- The Red Ridge gold-silver property in the Yukon.
- The Cloud, Eldorado and Wild properties in BC's Golden Triangle.
Apex management has a track record of mine discovery that includes the discovery and development of the renowned Hemlo Gold Mine in Ontario. 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: moc.secruoserxpa@eelm or moc.secruoserxpa@ofni
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.