Apex Resources: MMI Results Confirm Gold Showings and Give Strong Copper and Zinc Targets at Mt Anderson Property, Yukon
TSX VENTURE: APX
July 15, 2019 - TheNewswire - Vancouver, BC - Apex Resources Inc. ("Apex") (TSXV:APX) is pleased to report that its consultant, Dallas Davis, has provided a number of reports and maps regarding former geochemical, geological and metallurgical studies on its Mount Anderson Gold Property located 55 kilometres south of Whitehorse, Yukon. After pursuing several avenues, Apex has now been able to acquire the digital analytical results for 4,265 MMI geochemical samples collected by a previous operator in 2011. Together with Apex's acquisition of a large package of airborne geophysical data plus recent work (geological, geochemical and induced polarization geophysical surveys) completed by Aurora Geosciences Ltd. on behalf of Apex, strong multi- disciplinary drill target definition is now underway.
The MMI soil results successfully outline the historical gold and silver targets. Surprisingly, the MMI results also show extensive zones of elevated and highly anomalous copper and zinc values on this 3,100 hectare property. Of particular interest are the Fleming and Rob Zones, the EPI Vein Zone and the North Slope of Mt. Anderson. In these four areas, highly anomalous metal values are found well beyond known showings suggesting the areas have potential for important polymetallic mineralization that requires investigation (see attached maps).
Arthur Troup, President of Apex said: "We are extremely excited about this valuable information package that Mr. Davis has provided for our Mt. Anderson property. The reports which represent more than $1.0 million in exploration expenditures show there is potential for polymetallic mineralization well beyond the historic showings that we have been exploring. We are currently reviewing the massive data set which includes valuable geological, geophysical and metallurgical information in addition to the geochemical data discussed in this release.
Apex's recent exploration has focused on historical workings in the vicinity of the gold bearing 47 and Adanac Zones. Geological mapping and rock sampling programs in 2017 and an Induced Polarization (IP) geophysical survey in 2018 were carried out by Apex's consultants, Aurora Geosciences Ltd. of Yellowknife, NWT. The programs successfully confirmed and expanded these historic gold and silver showings. Mapping and sampling programs returned rock chip samples assaying as high as 67.0 g/t Gold and 2,058.0 g/t Silver. The IP survey successfully delineated a large, strong and open ended geophysical target in the Adanac Zone area (see news releases of Oct 11, 2017 and Aug 14, 2018).
Apex is planning a two phase exploration program to commence immediately. Phase 1 will include completion of the data compilation work, followed by ground geological and confirmation geochemical surveys in order to fully define the strongest drill targets. Phase 2, which is contingent upon financing, will consist of approximately 1200 metres of diamond drilling over the top ranked target areas in the 47 and Adanac gold zones, plus also test several of the new multi-element target areas. The property is now fully permitted for diamond drill testing.
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.