Business
Apollo Gold receives approval for Option Agreement to acquire concessions in prolific El Indio Gold Belt, Chile
VANCOUVER, British Columbia, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Apollo Gold Corp. TSX.V: APGO (“Apollo” or the "Company") is pleased to announce that it has rece
About this update from Apollo Silver Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Apollo Gold Corp. TSX.V: APGO (“Apollo” or the \"Company\") is pleased to announce that it has received a National Instrument 43-101 report (the “Report”) in respect of the Apolo and Sancarron concessions in Chile (collectively the “Apollo Concessions” or the “Apollo Properties”). The Report is in draft form due to COVID-19 travel restrictions prohibiting a site visit by the Report author. The Report, together with title opinion in respect of the Apollo Concessions, has been filed with the TSX Venture Exchange. As announced on April 2, 2020, the Company agreed to option the Apollo Concessions from Lithium Chile Inc. and Compania Minera Kairos Chile Limitada, a subsidiary of Lithium Chile, pursuant to an Option agreement dated 25 March, 2020 (“the Option Agreement”). The filing of the Report and title opinion fulfills the conditions of the TSXV in relation to the Option Agreement which is now unconditional. As announced on April 2, 2020, Apollo can earn up to a 90% interest in the Apollo Concessions by making total payments to Lithium Chile of $1,350,000 and incurring an aggregate of $5,000,000 of expenditures over a maximum of 5 years. The Apollo Properties consist of 5 exploration and 18 exploitation (right to mine) concessions totaling 5,329 hectares of highly prospective land in the heart of the El Indio Gold Belt in Chile. This district is dominated by major mining companies including Barrick Gold, Codelco and Antofagasta and hosts major mines and deposits such as Pascua Lama, El Indio and Alturas. Lithium Chile has previously reported that the Apollo Properties host anomalous gold and silver bearing rock grab samples within areas of hydrothermal alteration (10.5 Kms2) bearing strong similarities to surrounding deposits. Rock grab samples contain 2.1 grams per tonne gold (“g/t Au”) to 97.48 g/t Au and 46.4 grams per tonne silver (“g/t Ag”) to 158.8 g/t Ag. With the Option Agreement now complete, and subject to any ongoing constraints relating to the global COVID-19 Pandemic, Apollo intends to launch an initial work program in November 2020 to coincide with Spring in Chile. This program will establish access and a camp at the Properties and will also test and expand the prior sampling programs undertaken on the Properties with a view to establishing key targ...