Apex Resources Expand Ore Hill Gold Targets
TSX VENTURE: APX
March 25, 2019 / TheNewswire / Vancouver, BC - Apex Resources Inc. ("Apex" ) (TSXV: APX) is pleased to report that ongoing data compilation of its Ore Hill gold property has defined a large airborne magnetic anomaly located along the eastern margin of a recently identified, 10 metre wide, gold bearing shear zone (refer to News Release of March 18, 2019). The geophysical target is 2.5 km in length and extends to the north and south of the known limits of the mineralized shear thereby expanding the area of interest (see map below).
The magnetic anomaly was discovered by a Heliogeotem survey that was flown over Apex's adjacent Jersey Pb-Zn property by Fugro in 2009. The survey lines extended over the area of the present Ore Hill claims. The geophysical survey results show two, linear, north-south trending magnetic bodies on the Ore Hill property. The western magnetic anomaly closely parallels gold-bearing structures that have returned significant assays from rock sampling, suggesting a relationship between the magnetic highs and gold mineralization. The eastern magnetic anomaly runs parallel to the western anomaly but extends for 4.0 km across the property. No recent soil sampling or prospecting has been completed over this second geophysical target. Historic veins belonging to the former Queen mine are located at the north end of this second magnetic feature suggesting it too may be associated with gold mineralization.
Apex geologists have recommended a two-phase work program for 2019 that will focus on the recently identified shear hosted mineralization and the associated geophysical targets. Phase One will involve detailed geological mapping and sampling to locate the historic workings and confirm the assays reported in 2017-18. Soil sampling and a magnetometer geophysical survey will be carried out over the Heliogeotem targets to help define targets for phase two. Phase Two will involve mechanized trenching, and 1,000 metres of diamond drilling at five drill sites.
The Ore Hill property is located 5 km east of the Jersey Mine in the southern portion of the Sheep Creek Gold District, British Columbia's third largest Orogenic gold district. The property covers the historical Ore Hill, Summit and Bonanza workings (refer to News Release of March 18, 2019 and Nov 14, 2018).
The contents of this news release have been reviewed and approved by Apex's consulting geologist, Perry Grunenberg, P.Geo. Perry Grunenberg is a "Qualified Person" for the purpose of NI 43-101.
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.