Business
Apex Resources Acquires Ore Hill Gold Property
(via TheNewswire) November 14, 2018 / TheNewswire / Vancouver, BC - Apex Resources Inc...
About this update from Apex Resources Inc.
[{"type":"text","content":"Apex Resources Acquires Ore Hill Gold Property(via TheNewswire)\n\n \n\n\n\n \nNovember 14, 2018 / TheNewswire / Vancouver, BC - Apex Resources Inc. (\"Apex\") (TSXV: APX) reports that Margaux Resources Ltd. (\"Margaux\") has transferred the Ore Hill Gold property to Apex. The Ore Hill property is located within an area clause that surrounded the Jersey-Emerald lead-zinc-tungsten property and was therefore transferred to Apex in compliance with the terms of the Jersey Property Agreement which was terminated on October 1, 2018.\n\n\n \nThe property was one of the highlights for Margaux's work in 2018. At Ore Hill, a gold soil anomaly, 1,500 m long by up to 150 m wide is known from previous exploration work. In 2017 rock samples collected within a 950 m x 150 m area by Margaux, returned high-grade gold values including 119 g/t (or 3.8 oz/ton) and 105 g/t Au (or 3.4 oz/ton). A drill program planned for 2018 could not be completed due to forest fire conditions.\n\n\n \nThe Ore Hill property is located 5 km east of the Jersey Mine in the southern portion of the Sheep Creek Gold District and covers the historically known Ore Hill, Summit and Bonanza occurrences. There are two known styles of mineralization on the Ore Hill property; narrow high-grade gold (plus silver, lead and zinc) bearing veins occur within limestone; and a gold-bearing crackle zone, up to 10 m wide, associated with a north-northeast-trending fault zone and geological contact. There is limited historical production from the Ore Hill property, as follows: Summit: 1,205 tons averaging 0.72 oz/t Au, 1.01 oz/t Ag, 1.25% Pb, 1.18% Zn and Ore Hill: 2,470 tons averaging 1.15 oz/t Au, 2.19 oz/t Ag, 3.58% Pb, 3.37% Zn (BC Minfile 82FSW054 & 082FSW053) .In order to complete the acquisition of the Ore Hill property Apex must complete remaining outstanding option payments to the original property vendors comprised of $55,000 and 100,000 shares over three years. The property is subject to a 2% net smelter returns royalty (\"NSR\"). Apex may at any time purchase the NSR for $250,000.\n\n\n \nFor further information on Apex's projects, visit www.apxresources.com.\n\n \n \nArthur G. Troup, P.Eng., Geological\n\n\n \nPresident and CEO\n\n \n \nFor further information please contact:\nMarc Lee, Investor and Corporate Communications\nTel: (604) 628-0519 Fax: (604) 628-0446 \nEmail...