Apex Resources Commences Exploration on its Ore Hill Gold Project, BC
August 12, 2020
August 12, 2020, Apex Resources Inc. ("Apex") (TSXV: APX) is pleased to announce that the 2020 exploration program is now underway on its Ore Hill Gold Property, located near Salmo in southeastern British Columbia. Exploration work will focus on the 2019 discovery zone where drilling intersected several high-grade gold zones including 289.97 g/t gold over 0.30 m in drill hole OH19-1 (see Dec 17, 2019 News Release).
The initial phase of this year's exploration program is budgeted for $200,000 and will consist of detailed geological mapping, trenching and diamond drilling in the 2019 discovery area. Reconnaissance exploration will also continue throughout the length of the 1.5 kilometre long gold in soil anomaly.
The Ore Hill property is located 45 kilometres south of the town of Nelson, BC in the historic Sheep Creek Gold District. The property contains polymetallic gold bearing quartz veins that were initially staked in 1901. Several veins have been explored with nine adits and over 1,200 metres of underground development. Between 1906 and 1940, a total of 3,335 tonnes of ore were mined at an average grade of 34.7 g/t gold and 60.7 g/t silver (BC Minfile 82FSW054 & 082FSW053). Recent exploration includes a soil geochemical sampling survey, mapping and sampling programs carried out in 2017 and 2018 (News Release dated Nov. 14, 2018) and 500 metres of diamond drilling by Apex in 2019. These recent exploration programs demonstrated potential for widespread gold and silver mineralization along a 1,500 metre long gold in soil anomaly on the property.
Apex believes that the Ore Hill Zone represents a unique, new deposit type within the historic Sheep Creek Gold District. Located just 15 kilometers from the town of Salmo, the road accessible property has excellent infrastructure that includes a nearby skilled workforce, power and water.
The Company has contracted Critchlow Enterprises Ltd. of Salmo, BC to complete 1000 metres of diamond drilling planned for the initial program. An existing, decommissioned access road is currently being opened into the 2,000 hectare property. Mr. Bernard Augsten, P.Geo., of Nelson, BC has been contracted for the geological program and diamond drilling is expected to commence by mid-August.
Apex's Ore Hill exploration program is being conducted under the supervision of Perry Grunenberg, P.Geo. Perry Grunenberg, is a "Qualified Person" for the project and has read and approved the contents of this 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:
- The Mount Anderson gold-silver property in the Yukon.
- The Kena-Daylight gold property in southern BC under option to Prize Mining Corp.
- The Jersey-Emerald tungsten-zinc property in southern BC.
- 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
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.