Business
Apex Resources Inc. Applies for Multi-Year Permit to Test High Grade Gold Mineralization at its KGM Gold Deposit
(via Thenewswire.ca) Vancouver, BC / TheNewswire / July 28, 2016: Apex Resources Inc. ...
About this update from Apex Resources Inc.
[{"type":"text","content":"Apex Resources Inc. Applies for Multi-Year Permit to Test High Grade Gold Mineralization at its KGM Gold Deposit(via Thenewswire.ca)\n\n \nVancouver, BC / TheNewswire / July 28, 2016: Apex Resources Inc. (TSX-V: APX; \"the Company, \"Apex\") is pleased to report that it has filed an application with the BC Ministry of Energy and Mines for a multi-year permit to carry out a trenching, drilling and metallurgical sampling programs within the Company's KGM Gold Deposit on its Kena property. The proposed 5 year work program, calls for 47 drill pads and 30 trenches to test high grade gold zones within the multi-million tonne KGM deposit with the first year's program involving construction of 17 drill pads and excavating 20 trenches. The permit application has been accepted by the Ministry and is currently being circulated for approval.\n\n\n \nAbout Apex Resources Inc.\n\n\n \nApex Resources Inc. (previously known as Sultan Minerals Inc. - please see news release of July 15, 2016) is a Canadian gold exploration and development company with current projects in British Columbia, Canada. Apex's business strategy is to acquire quality, under explored, precious metal properties with undiscovered resource potential in established mining camps. The company then advances the projects until they can be joint-ventured or sold with a retained NSR royalty to Apex.\n\n\n \nIn 2016 the Company will focus its efforts on the advancement of its 100% owned Kena and Daylight Gold properties. The two adjacent properties are located 90 km northeast of the historic Rossland gold camp in southeastern British Columbia. They are host to six, historic, high grade gold mines along an 18 km long gold belt. The properties have the advantage of major highway and logging road access, an adjacent power corridor and a nearby skilled workforce. \n\n\n \nThe 8,000 hectare Kena property is host to two styles of gold mineralization; high grade veins and large, low grade, porphyry gold deposits. An updated NI43-101 resource estimate completed on the low grade deposit in April 2013 shows a measured plus indicated resource of 25.28 million tonnes containing 490,000 ounces of gold and an additional drill-inferred resource of 90.44 million tonnes containing 1,399,000 ounces of gold, using a 0.30 g/t Au cutoff. The low grade mineralization is comprised of a series of high grad...