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Apogee Minerals Acquires Strategic Mineral Claim at Pine Channel Gold Project, Saskatchewan
Vancouver, British Columbia, April 05, 2023 (GLOBE NEWSWIRE) -- Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSXV: APMI) is pleased to announce that it has
About this update from Apogee Minerals Ltd
[{"type":"text","content":" Vancouver, British Columbia, April 05, 2023 (GLOBE NEWSWIRE) -- Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSXV: APMI) is pleased to announce that it has acquired a strategic mineral disposition within its’ Pine Channel Gold Property tenure that covers the historic Algold Bay mineralization. Pine Channel Project Map About Algold Bay The Algold Bay tenure has been in good standing since 1979 and covers several Au mineralized showings on the north shore of Lake Athabasca. Gold mineralization at Algold Bay was first reported in 1935 and subsequent work has included prospecting, trenching, geophysical surveys, and five short diamond drill holes, with the last recorded work in 1988 by Colchis Resources. The MEL-CEC showing is a vertically dipping shear zone exposed for approximately 300m strike length. Historical chip sampling has returned values ranging from trace to 100.1 g/t (3.24 oz/t) Au over 0.8m, 26.4g/t Au over 1.9 m, 16.5 g/t Au over 1.31 m, and 11.2 g/t over 1.3 m. Drill intercepts at the MEL-CEC returned values ranging from trace to a high of 63.5 g/t (2.04 oz/t) Au over 0.6 m. The Algold Creek occurrence, a 3.7 m wide quartz-tourmaline vein, returned values from trace to a high of 9 g/t Au from a grab sample. At the Occurrence 3 Au Showing, quartz stringers with arsenopyrite and visible gold returned values from trace up to 5.7 g/t Au. Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property. These results are historical in nature and have not been confirmed by Apogee, but are considered to be reliable and will form a basis for ongoing work. Pine Channel Gold Property Summary The Pine Channel Property consists of 29 mineral dispositions covering 6,519 hectares located approximately 40 km west of Stony Rapids, Saskatchewan which is the logistics/business hub for northern Saskatchewan. The property can be accessed year-round by float- or ski-equipped aircraft from Stony Rapids or Fort McMurray, AB. The eastern and northern part of the property is transected by a high voltage powerline. Most geological fieldwork is limited to late May to October but other operations such as geophysical surveys and diamond drilling can be completed year-round. The main deposit type that is being explored for at Pine Channel is structurally control...