Apex Resources Intersects Visible Gold in Initial Drilling at Ore Hill
October 31, 2019
October 31, 2019, Vancouver, BC, Apex Resources Inc. ("Apex") (TSXV: APX) is pleased to report that visible gold has been observed in the initial two diamond drill holes completed at its Ore Hill gold project in southeastern British Columbia (see photos below). The presence of visible gold in drill core is considered very favorable, but does not assure potential for high laboratory assay grades.
Historical mining on the Ore Hill property focused on narrow, high grade, northeast trending quartz veins. Recent exploration shows gold mineralization also occurs along a north trending structural zone. The Ore Hill drill program is targeting this important new style of gold mineralization along a 1,500 metre long gold soil anomaly.
Four drill sites were initially selected to test the soil anomaly north of the historic Summit Gold mine. Drilling commenced September 30th but was suspended in mid-October due to un-seasonally heavy snow conditions. The program completed 437.35 metres of drilling in two holes. The core is presently being logged and split at the company's secure core storage facility in Salmo, BC. Assays will be reported when analyses are complete in about 4 weeks.
The two planned but untested drill targets will be explored as soon as weather conditions allow access. The Company has a multi-year permit in place to allow for an expanded drill program.
The 2,000 hectare Ore Hill Property is located in the historic Sheep Creek gold camp just 5 km east of Apex's historic Jersey-Emerald lead, zinc and tungsten mines. The property covers the former Ore Hill, Summit and Bonanza gold mines. See website and previous releases for more information on these projects.
Rock chip sampling completed by Margaux Resources in 2017 and 2018 returned a number of high grade gold assays, including 119 g/t and 105 g/t gold over a 950 m by 150 m area along the trace of the gold soil anomaly (see Margaux release of Oct 29, 2019). The results suggest that this recently identified mineralization may represent an extensive mineralizing system with significant size and strength.
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.
Arthur G. Troup, P.Eng., Geological
President and CEO
Examples of visible gold seen in drill core at Ore Hill 2019. Drill core is approximately 50mm (2 inches) in diameter.
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