Apex Resource Inc’s wholly owned Jersey-Emerald property is located in southeastern British Columbia, 50 kilometres south of the town of Nelson and 8 kilometres southeast of the community of Salmo. It consists of 120 mineral claims and 44 crown grants over an area of approximately 17,500 hectares. The property encompasses three historic mines; the 2,400 t/d Jersey Lead-Zinc Mine which operated from 1949 to 1970, the 350 t/d Emerald Tungsten Mine which operated intermittently from 1942 to 1973 and the 25 t/d Emerald Lead Mine which operated from 1919 to 1926. The property includes 1,100 acres of freehold land in four adjoining land parcels over the historic mine-workings.
There are four totally separate metallic deposits located on the property. Each with unique geologic characteristics:
- In the Jersey and Emerald Pb-Zn mines stratiform lead-zinc deposits of pre-Jurassic age are hosted in dolomitized carbonate rocks of Cambrian age.
- Tungsten mineralization in five deposits, the Emerald, Feeney, Invincible and Dodger mines and the recently discovered East Emerald deposit occur as massive sulfide lenses (Emerald style mineralization) and stratiform replacement deposits (Dodger style mineralization) in limey sediments marginal to Cretaceous granites.
- Porphyry style molybdenum mineralization occurs within the Cretaceous granites and extends into the adjacent tungsten deposits.
- Gold and gold-bismuth zones as veins and silicified skarn zones occur adjacent to the tungsten and molybdenum zones near the margins of the Cretaceous granites.
The Jersey-Emerald property has exceptional infrastructure. The deposits are just 45 kilometres by highway from Teck’s Lead-Zinc Smelter facility at Trail, BC. A skilled labor force for mining and exploration is available in the nearby towns of Salmo, Nelson, Trail and Castlegar. Salmo was the townsite for the former tungsten-zinc mines. There is more than 150 million dollars in underground development work, including approximately 5 km of haulage tunnels, already in the deposits. There are power lines and a natural gas pipeline crossing the property.
The historic Jersey Emerald Mine property is subject to a 3% NSR, which can be reduced to 1.5% by making additional cash and share payments totaling $500,000 and 50,000 shares on completion of a positive feasibility study. The property is subject to annual advance royalty payments of $50,000. The historic Invincible Mine is subject to a 2% Net Smelter Return royalty ("NSR"), which may be reduce to a 0.5% NSR by the payment of $150,000 to the Seller after the completion of a positive feasibility study. There is an Annual Advance Royalty Payment of $3,000.