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Apollo Silver Declares 110 Million Ounces Silver in Measured and Indicated Resource for Waterloo Property
90 million ounces silver classified as Measured Calico silver resource also includes 51 million ounces classified as Inferred VANCOUVER, British Columbia, March
About this update from Apollo Silver Corp
[{"type":"text","content":" 90 million ounces silver classified as Measured Calico silver resource also includes 51 million ounces classified as Inferred VANCOUVER, British Columbia, March 06, 2023 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to announce an updated National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) mineral resource estimate (“MRE”) with an effective date of February 8, 2023, for its flagship Calico Silver Project (“Calico” or the “Calico Project”) located in San Bernardino County, California (the “2023 MRE”). The findings of the 2023 MRE, particularly in terms of size and confidence level, positions Calico and its Waterloo Property (“Waterloo”) resource as one of the largest advanced stage silver projects in North America. Highlights of the Calico Project 2023 MRE1: 110 million ounces (“Moz”) silver (“Ag”) classified as Measured and Indicated (“M&I”) declared at Waterloo with an average grade of 100 grams per tonne (“g/t”) silver: 81% (90 Moz) classified as Measured at 103 g/t silver. 95% of Inferred2 silver ounces have been converted to M&I2. 51 Moz silver classified as Inferred: 720,000 oz silver at Waterloo Property1 50 Moz silver at Langtry Property2 70,000 oz Inferred oxide gold (“Au”) ounces added to metal inventory at Waterloo. Robust silver resource: conservative base-case estimate uses 50 g/t silver cutoff grade (“COG”). Low strip ratio of 1.1:1 for Waterloo silver resource. Significant growth opportunities remain. “Today’s announcement is an important milestone that will underpin the future development of the Calico Silver Project,” commented Apollo’s President and CEO, Tom Peregoodoff. “This updated mineral resource estimate significantly de-risks the Calico Project and confirms Waterloo as one of the premier silver development opportunities in any Tier-1 jurisdiction. This solid outcome is the culmination of a tremendous amount of work by an excellent team that has consistently delivered against our stated objectives. The low strip ratio, combined with the recently announced positive initial metallurgical results, and nearby infrastructure provide an excellent foundation as we advance one of the largest undeveloped silver resources in the USA. Calico is uniquely positioned to benefit from the USA’s commitment ...