August 16, 2017 / TheNewswire / Vancouver, BC - Apex Resources Inc. ("Apex") (TSXV: APX) is pleased to report that its Joint Venture partner, Prize Mining Corp ("Prize" or the "Company") (TSXV:PRZ), has released results for an initial batch of soil assay results from Phase 1 fieldwork on the Daylight portion of the Kena Project.
Results confirm the presence of at least two large prospective geochemical trends:
1) The Great Western geochemical anomaly is approximately 1km long by 300m wide and includes 48 samples over the 90th percentile of 100 ppb Au. A cluster of strongly anomalous samples in the northern part of geochemical anomaly returned up to 745 ppb Au. A 300m trench will be dug along that trend during the Phase II program.
2) The Daylight-Starlight trend had nine samples that returned greater than 100 ppb Au, including a best sample return of 8009 ppb Au. This is the highest gold-in-soil sample result in recorded history along the Silver King shear system dating back to the early 1970's. The pattern of soil anomalies along the 1.3km long Daylight-Starlight trend is narrower and somewhat spotty in comparison to the Great Western Trend, but an alignment of significant anomalous Au-Ag-and Bi in soils does coincide with known IP chargeability trends and with the known historical workings.
Feisal Somji, president and chief executive officer of Prize Mining, commented: "We are excited to report the best soil samples to date on the Daylight property which highlight the potential for the discovery focused drill program. We will use a combination of the new encouraging soil results, historical soil samples and past drilling and geophysical analysis to refine the upcoming Phase -II trenching and Phase- III drilling programs schedule to start in August and September 2017."
ICP analysis of soils (AQ252) was performed by Bureau Veritas, in Vancouver BC, on a total of 462 samples on the Daylight property. All soil sample results for the Daylight property which includes the Great Western & Eastern zones, and the Daylight-Starlight trend are now available.
Remaining results for the Toughnut property are expected mid-August.
Jarrod Brown, a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical information in this news release.
Prize Mining Corp has an option to acquire an 80% interest in Apex's Kena and Daylight properties. To exercise its option and earn its 80% interest in the project, Prize will make annual cash and share option payments over 36 months totally $1,250,000 and issue 1,500,000 shares and complete $3,000,000 in Kena Project related exploration expenditures over four years.
For further information on the Company's projects, visit www.apxresources.com.
