Apex Resources Receives 67.0 g/t Gold and 2,058.0 g/t Silver Assays from Initial Exploration at Mount Anderson Property, Yukon
October 11, 2017
October 11, 2017, Vancouver, BC - Apex Resources Inc. ("Apex" or the "Company) (TSXV: APX) is pleased to announce that it has successfully completed the Phase 1 exploration program on its Mount Anderson Property, located 55 kilometres south of Whitehorse in the Yukon Territory. The road accessible, 3,100 hectare Mt. Anderson Property is located adjacent to the historic Mount Skukum gold mine and has had considerable prior exploration work by other operators.
The Phase I geological mapping and rock sampling program was carried out by Aurora Geosciences Ltd. of Whitehorse, YT. The program investigated, confirmed and expanded a number of historic gold and silver showings on the property. The following table shows the highlights of this rock sampling program:
|Showing Location||Sample #||Gold g/t||Silver g/t||Lead %||Zinc %||Copper %|
|491322 E 6674286N||611801||0.04||44.1||0.88|
|492018 E 6674123N||611803||0.7||50.9||0.04|
|492020 E 6674036N||611851||1.6||1,102.0||10.54||0.95||0.97|
|492057 E 6674024N||611852||4.1||795.0||4.92||0.26||1.26|
|492065 E 6674026N||611853||2.4||1,948.0||14.27||0.39||1.64|
|491732 E 6674107N||611854||1.8||4.1||0.13|
|491743 E 6674081N||611856||0.2||128.0||0.02|
A total of 104 rock samples were collected. The majority of these samples represent narrow chip, grab or float samples taken from historic trenches and adits and from new mineralized zones along strike from these historic workings. The 2017 results are of comparable quality to historical gold and silver grades reported by previous operators. The results successfully confirm the presence of high grade gold and silver mineralization that is often coincident with good base metal (lead, zinc and copper) values.
Please see Maps at http://www.sultanminerals.com/s/Mount_AndersonMaps.asp
In 1985 Noranda Exploration Ltd put in a 1,100 sample soil geochemical grid of approximately 3,000 by 1,300 metres in size, covering the main showings. The survey showed gold, silver and lead soil anomalies to extend well beyond the known showings. Apex's rock sample locations can be seen on the geochemical anomaly plots (see link). It is readily apparent that less than 20% of the principal gold-silver soil anomaly has been tested by the 2017 exploration program. (The Noranda results are considered historic in nature but the 2017 rock geochemical results are consistent with Noranda's results suggesting the historic sample results are reliable.)
In addition to Noranda's work, between 2010 and 2012 previous property operator Gold World Resources Ltd. completed a 4,600 sample MMI soil survey, plus a detailed airborne geophysical survey. The immediate focus of the Apex exploration team is the compilation of this historic work in order to provide well defined targets for the next exploration phase. An expanded exploration program consisting of IP and magnetometer geophysical surveys and excavator trenching is planned for Phase 2 in order to prepare the property for diamond drill testing.
Arthur Troup President of Apex said: "We are very excited by the results of the 2017 program. The sampling program combined with the historic work suggests the property has potential for bulk tonnage mineral deposits comprised of high grade veins within broad zones of low grade mineralization. We expect that our compilation of the large amount of good quality work completed previously by Noranda and Gold World will provide strong target areas that will result in a very active drilling program in 2018."
The Mount Anderson exploration program is 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.
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.