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Apollo Silver Commences Phase 2 Drill Program at the Calico Silver Project
VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is ple
About this update from Apollo Silver Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce that Phase 2 of the 2022 drill program (the “Phase 2 Drill Program”) has commenced at its Calico Silver Project (“Calico” or the “Project”), located in San Bernardino County, California. Reverse circulation (“RC”) drilling began September 19, 2022, on the Waterloo Property. The Phase 2 Drill Program is one component of the multi-component 2022 Calico Technical Program that aims to upgrade and expand the recently announced Inferred Mineral Resource Estimate (“MRE”) of 166 million ounces of silver contained in 58.1 million tonnes at an average grade of 89 grams per tonne (“g/t”) (see news release dated February 9, 2022). “Phase 2 of the 2022 drill program has commenced on schedule,” Apollo CEO Tom Peregoodoff commented. “The second phase of drilling will focus on the central and northern portions of the Waterloo resource and is designed to maximize the amount of silver which may be upgraded to a more advanced resource category and enable commencement of engineering studies in 2023. As with Phase 1 of the drill program, investors can expect results from this phase of the drilling on a regular basis as assay results are received from the lab.” 2022 Phase 2 Drill Program The Phase 2 Drill Program comprises a proposed 4,300 metres (“m”) (14,108 feet) in 39 RC drill holes that will be completed by Cooper Drilling LLC, of Monte Vista, Colorado. The program design incorporates the learnings from Phase 1 of the 2022 drill program and is designed to continue to: Complete infill drilling to further support upgrading the confidence of the MRE; Expand the MRE by adding additional high-grade silver ounces and quantifying possible by-products, such as barite and gold; and Further increase the confidence in the geological model. To date, 5,021 m (16,473 feet) of drilling in 44 RC holes have been successfully completed at the Waterloo Property as part of Phase 1 of the 2022 drill program. Results to date have confirmed the grade, continuity, and predictability of near-surface silver mineralization within the current MRE; identified silver mineralization in thicker portions of the Barstow sediments approximately 30 m below the base of the current MRE (which is approximatel...