Apex Resources Commences Exploration at Mt. Anderson Gold-Silver Property, Yukon
TSX VENTURE: APX
June 11, 2018 / TheNewswire / Vancouver, BC - Apex Resources Inc. ("Apex" or the "Company) (TSXV: APX) is pleased to announce that it has contracted Aurora Geoscience Ltd. to conduct a Phase I Induced Polarization geophysical survey and geological mapping program on its Mount Anderson Gold-Silver Property, located 55 kilometres south of Whitehorse in the Yukon Territory. The road accessible, 3100 hectare Mt. Anderson Property is located adjacent to the historic, high grade, Mount Skukum gold mine. The property is host to five historic mineralized zones: the 47-Zone, the Adanac Zone, the Ridge Zone and the Rob and Fleming skarns.
In 2017, a mapping and rock chip sampling program completed for Apex by Aurora Geosciences Ltd. of Whitehorse, YT confirmed the presence of significant precious and base metal mineralization. Survey results suggest the 47 and Adanac zones may represent part of a larger mineralized trend. Rock sampling over a distance of 500 metres between the 47 and Adanac zones returned contiguous anomalous precious and base metal values ranging from trace up to 67.5 g/t gold, 2,058 g/t silver, >10.0% lead, 9.44% zinc and 9.84% copper (see News Release dated October 11, 2017).
A two-phase 2018 exploration program is planned for the Mount Anderson property. Phase I will involve detailed geological mapping, rock sampling and Induced Polarization geophysical surveying. Phase II will consist of a surface magnetometer survey, mechanized trenching and a diamond drilling program of 1,400 metres at 9 drill sites.
The Induced Polarization geophysical survey will test a two square kilometre area that includes the 47 Zone, the Adanac Zone, the Ridge Zone and a strong multi-element soil geochemical anomaly. The geological mapping program will be carried out coincident with the geophysical survey. The geological and geophysical field crews will mobilize from Whitehorse on or about June 28th, 2018 to a temporary camp on the property. Preliminary geophysical results are anticipated by mid-July.
Mr. Arthur Troup, President and CEO of Apex states: "We are very excited to be commencing our 2018 exploration program at Mount Anderson where our 2017 program has shown potential for large expansions of historic showings. It is anticipated that the geophysical survey, combined with prior geochemical survey results and geological mapping will further refine the many strong targets for follow up trenching and diamond drilling programs."
Ms. Linda Dandy, VP Exploration for Apex, is presently working with Carl Schulze, P. Geo, of Aurora Geosciences Ltd., in planning the 2018 exploration program. 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
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.