Apex Resources Extends Gold Mineralization With Diamond Drilling at Ore Hill
November 17, 2020
November 17, 2020, Vancouver, BC., Apex Resources Inc. ("Apex") (TSXV: APX) is pleased to announce that diamond drilling at its Ore Hill property in southeastern BC has extended the gold-bearing zone intersected in its initial two 2019 diamond drill holes (see Dec 17, 2019 news release). Final assays have been received for Hole OH20-4 collared 100 metres south of previous hole OH19-2. Five zones of gold enrichment were intersected in the hole. The highlight of the assays in hole OH20-4 was a 30 cm intercept that returned 32.90 g/t gold within a 4.63 metre section that assayed 2.76 g/t.
Gold assays and intersection widths for diamond drill hole OH20-4 are tabled below. There is presently insufficient information to determine how intersection widths relate to true widths.
Gold Assays - Ore Hill Drill Hole OH20-04
Hole OH20-4 was collared at UTM coordinates 489374 E 5441063 N and drilled to a depth of 222.0 metres at a dip of -90°. Hole OH20-3 collared at the same location as OH20-4 was drilled into the unmineralized wall rocks to the east of the mineralized zone. Hole OH20-3 was drilled to a depth of 97.6 metres at a dip of -50° and a bearing of 160°. The hole was unmineralized but provided important geological information.
Assays are pending for an additional 8 drill holes with a combined total of 1,255.0 metres of NQ core.
The 2,000 hectare Ore Hill Property is located 45 kilometres south of the town of Nelson, BC in the historic Sheep Creek gold mining camp. The property covers workings of the former Ore Hill, Summit and Bonanza mines. The present drill program is investigating a 1,500 metre-long gold in soil anomaly that extends north and south from the historic Summit Mine. Rock chip sampling completed in 2017 and 2018 obtained a number of high-grade gold assays, along the trace of the gold soil anomaly indicating an extensive mineralizing system with significant size and strength.
Qualified Person and Quality Control
The Ore Hill 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 and has read and approved the contents of this news release. In the field, permit approved drill hole collar locations are determined with a hand-held GPS unit having an accuracy of +/- three metres. Collar sites are marked for later conventional surveying.
On site, the core is delivered to the Company's secure facility in Salmo, BC where it is logged, split, tagged, sealed and shipped for analysis. The Company's consulting geologists, Bernhardt Augsten, P.Geo. and Patrick Williams log and supervised the splitting, sealing and shipping of the samples for assay. Quality control is monitored by the insertion of certified standard reference materials and blanks at regular intervals into each sample shipment. For future reference, half of all drill cores was retained and is stored at the Company's secure facility in Salmo, BC.
Drill core samples are 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.
In the laboratory, the entire sample is crushed to 70% less than 2mm and 250 grams are pulverized. Analysis for gold is by 30g fire assay fusion with an atomic absorption (AAS) finish having a lower limit of 0.01 ppm and upper limit of 50 ppm. Samples with visible gold are re-analyzed using a 500g screen metallic fire assay. All samples are also analyzed by a 35 multi-elemental Inductively Coupled Plasma (ICP) geochemical package.
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.