Apollo Gold (AMEX:AGT)
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5 Years : From May 2008 to May 2013
Apollo Gold Corporation (“Apollo”) (NYSE Amex: AGT) (TSX: APG) announces
additional assay results from nine drill holes at its Grey Fox Project,
including one of the best drill intersections to date of 17.9
meters (“m”) at an average gold grade of 14.3 grams per tonne
(“gpt”) located on the boundary of Grey Fox and the Pike River
properties with indication that the mineralization is open towards Pike
River to the north.
Results are pending from the remaining 14 holes completed as part of a
53-hole, 9,936-meter drilling program in 2009, including the first six
holes drilled on Pike River, at the prospective Contact Zone at the Grey
Fox and Pike River properties, which are adjacent to Apollo’s Black Fox
gold mine in the Township of Black River-Matheson, Ontario, Canada.
Results from the nine holes are shown in Table One (GF09-47 through
GF09-55) with the mineralized zone intercepts highlighted, including
true width intercepts of:
-
17.9 m at an average gold grade of 14.3 gpt (or 59 feet at 0.4 ounce
per ton (“opt”)) within 100 m from surface in hole GF09-55; and
-
5.1 m of 5.2 gpt (or 17 feet at 0.15 opt) in hole GF09-52.
Figure One below shows the location of the nine holes as well as the
rest of the 53-core hole program completed in 2009. Assay results were
released on holes GF09-17 through GF09-46 in previous Apollo news
releases. It is expected that the results from the 2009 drill program
will be compiled in an initial Canadian National Instrument 43-101
compliant Measured and Indicated Resource estimate by the second quarter
2010.
Richard F. Nanna, Senior Vice President of Exploration for Apollo, said,
“The impressive results from hole GF09-55 on the boundary of the Pike
River property are one of the best ever for the Grey Fox Project and we
are pleased that the results indicate the Contact Zone mineralization is
open to the north on to Pike River and the west-southwest trending
Destor-Porcupine Fault Zone.”
Assay results from the first six holes from the 2009 drill program
completed at Pike River, located along strike of GF09-55, are pending.
The Contact Zone is a mineralized fault contact between metasediments
and mafic volcanic rocks. It has been identified through drilling along
700 meters of its length and remains open along strike to the north,
south and at depth. Most of the holes announced in this news release
(GF09-47 to GF09-53) are located within the central part of the known
Contact Zone.
The Destor-Porcupine Fault Zone and its numerous splays are associated
with many past and currently producing gold mines, including the Black
Fox Mine, in the Timmins Mining District. The Grey Fox Project is
located about 3.5 kilometers southeast of Apollo’s Black Fox Mine, which
commenced gold production in May 2009. The recently acquired Pike River
property lies between the Black Fox and Grey Fox properties. Apollo
controls all three adjoining properties totaling a 17 square kilometer
land package.
Previously released drilling by Apollo successfully intersected gold
mineralization similar to the host rocks of the Black Fox gold deposit.
The 2009 drilling program at Grey Fox followed up the 16-hole drilling
program completed in 2008, which included a high grade intercept of 3.5
m grading 455 gpt (13.27 opt) as well as several separate one meter gold
intervals grading from 12 to 277 gpt (0.35 to 8.08 opt).
All assay work was completed by Polymet Labs of Cobalt, Ontario, which
is ISO 9001:2000 certified in North America. This news release was
reviewed by Richard F. Nanna, Professional Geologist, Apollo’s Senior
Vice President, Exploration and Development and designated “Qualified
Person” under Canadian National Instrument 43-101. All drill assay
results are available on the Apollo website at www.apollogold.com.
Apollo Gold Corporation
Apollo is a growing gold producer that operates the wholly owned Black
Fox Mine in Ontario, Canada. Apollo also is exploring the adjoining Grey
Fox and Pike River properties, all in the Timmins gold district in
Ontario, Canada, as well as the Huizopa Joint Venture, (80 percent
Apollo and 20 percent Minas De Coronado, S. de R.L. de C.V.), an early
stage, gold-silver exploration project, approximately 16 kilometers (10
miles) southwest of Minefinders’ Dolores gold-silver mine, in the Sierra
Madres in Chihuahua, Mexico.
FORWARD-LOOKING STATEMENTS
This news release includes “Forward-Looking Statements” within the
meaning of section 21E of the United States Securities Exchange Act
of 1934, as amended. Forward-looking statements can be identified by the
use of words such as “may,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “intends,” “continue,” or the
negative of such terms, or other comparable terminology. All statements
regarding the timing of and any addition to estimated mineral resources,
timing of assay results from Grey Fox and Pike River, the ability of the
Company to successfully obtain Measured and Indicated Resource status
and to expand the Contact Zone towards and along the Destor-Porcupine
Fault Zone are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from these
forward-looking statements include: the results of assays and additional
exploration, sampling and drilling efforts, delays caused by equipment
failures and weather, unexpected changes in business and economic
conditions, political or economic instability, significant decreases in
gold prices, changes in interest and currency rates, local and community
impacts and issues, labor accidents, environmental risks and other
factors disclosed under the heading “Risk Factors” and elsewhere in
Apollo documents filed from time to time with the Toronto Stock
Exchange, the NYSE Amex, The United States Securities and Exchange
Commission and other regulatory authorities. All forward-looking
statements included in this news release are based on information
available to Apollo on the date hereof. Apollo assumes no obligation to
update any forward-looking statements.
Appendix Table One: Grey Fox Drill Results for GF09-47 to
GF09-46 (All true widths.)
Hole ID
From (m)
To (m)
Core Width(m)
Zone TrueWidth (m)
Assay gramsAu/tonne
Assay ounceAu/ton
GF09-47
129.0
130.0
1.00
0.75
130.0
131.0
1.00
10.90
131.0
132.0
1.00
0.48
GF09-47
129.0
132.0
3.00
2.3
4.05
0.12
GF09-47
155.7
156.7
1.00
0.78
1.99
0.06
179.0
180.5
1.50
1.34
180.5
182.0
1.50
0.75
GF09-47
179.0
182.0
3.00
2.33
1.05
0.03
GF09-47
192.5
194.0
1.50
1.17
2.67
0.08
GF09-47
203.0
204.0
1.00
0.78
1.23
0.04
226.6
227.6
1.00
0.41
227.6
228.5
0.90
3.50
228.5
229.5
1.00
0.82
GF09-47
226.6
229.5
2.90
2.26
1.51
0.04
236.0
237.5
1.50
0.82
237.5
239.0
1.50
2.98
GF09-47
236.0
239.0
3.00
2.33
1.90
0.06
252.2
253.2
1.00
2.09
253.2
254.2
1.00
1.92
GF09-47
252.2
254.2
2.00
1.56
2.01
0.06
GF09-47
266.2
267.2
1.00
0.78
1.37
0.04
GF09-48
108.7
109.7
1.00
0.96
109.7
110.6
0.90
6.17
GF09-48
108.7
110.6
1.90
1.48
3.43
0.10
261.8
262.8
1.00
1.41
262.8
263.8
1.00
1.47
263.8
264.8
1.00
1.78
GF09-48
261.8
264.8
3.00
2.33
1.55
0.05
GF09-49
GF09-49
126.5
127.5
1.00
0.78
1.51
0.04
GF09-49
210.0
211.0
1.00
0.78
2.19
0.06
GF09-49
240.6
241.0
0.40
0.31
1.17
0.03
280.5
281.5
1.00
1.44
281.5
282.0
0.50
0.10
282.0
283.0
1.00
1.20
283.0
284.0
1.00
1.37
284.0
285.0
1.00
2.13
285.0
286.0
1.00
1.68
GF0-49
280.5
286.0
5.50
4.28
1.43
0.04
GF09-49
319.8
320.8
1.00
0.78
3.15
0.09
GF09-50
103.0
104.0
1.00
1.75
104.0
105.0
1.00
1.95
GF09-50
103.0
104.0
2.00
1.56
1.85
0.05
GF09-50
106.0
107.0
1.00
0.78
1.37
0.04
111.0
112.0
1.00
1.54
112.0
113.0
1.00
1.13
GF09-50
111.0
113.0
2.00
1.56
1.34
0.04
GF09-50
199.4
200.4
1.00
0.78
3.02
0.09
GF09-50
259.8
260.8
1.00
0.78
4.01
0.12
GF09-51
No significant assays over 1 gpt
GF09-52
129.0
130.0
1.00
2.37
130.0
131.0
1.00
1.41
131.0
132.0
1.00
1.30
132.0
133.0
1.00
1.03
133.0
134.0
1.00
0.21
134.0
135.0
1.00
0.96
135.0
136.0
1.00
0.55
136.0
137.0
1.00
0.55
137.0
138.0
1.00
0.82
138.0
139.0
1.00
2.02
GF09-52
129.0
139.0
10.00
7.78
1.12
0.03
190
191
1.0
1.42
191
192
1.0
0.07
192
193
1.0
5.42
193
194
1.0
8.62
194
195
1.5
6.83
195
196
1.0
8.07
GF09-52
190.0
196.0
6.5
5.06
5.21
0.15
GF09-52
199.0
200.0
1.0
0.78
1.49
0.04
GF09-52
209.0
210.5
1.5
1.17
3.93
0.11
GF09-53
GF09-53
144.5
145.5
1.0
0.78
1.17
0.03
GF09-54
GF09-54
86.0
87.5
1.5
1.17
1.30
0.04
GF09-54
99.5
100.5
1.0
0.78
5.66
0.17
GF09-54
107.5
108.5
1.0
0.78
1.20
0.03
GF09-55
67.0
68.0
1.0
173.08
68.0
69.0
1.0
12.41
69.0
70.0
1.0
23.93
70.0
71.0
1.0
17.38
71.0
72.0
1.0
20.67
72.0
73.0
1.0
2.85
73.0
74.0
1.0
36.96
74.0
75.0
1.0
19.58
75.0
76.0
1.0
1.20
76.0
77.0
1.0
0.03
77.0
78.0
1.0
0.27
78.0
79.0
1.0
0.82
79.0
80.0
1.0
1.82
80.0
81.0
1.0
1.68
81.0
82.0
1.0
3.12
82.0
83.0
1.0
5.35
83.0
84.0
1.0
2.67
84.0
85.0
1.0
1.75
85.0
86.0
1.0
0.89
86.0
87.0
1.0
0.89
87.0
88.0
1.0
0.14
88.0
89.0
1.0
0.21
89.0
90.0
1.0
0.14
GF09-55
67.0
90.0
23.0
17.90
14.25
0.42
GF09-55
96.5
98.0
1.5
1.17
7.75
0.23
GF09-55
125.0
126.5
1.5
1.17
1.71
0.05
UTM GRID NAD 83
Hole ID
T.D.
Easting
Northing
Elevation
Azimuth
Inc. Degrees
GF09-47
315
551121.6
5372835.7
291.6
270.00
-67.00
GF09-48
272
551121.5
5372807.7
290.9
270.00
-68.00
GF09-49
329
551121.7
5372807.7
290.9
270.00
-67.00
GF09-50
314
551117.7
5372788.9
291.6
270.00
-60.00
GF09-51
332
55118.0
5372788.9
291.7
270.00
-67.00
GF09-52
323
551120.5
5372912.7
291.7
270.00
-67.00
GF09-53
305
551120.6
5372987.3
290.1
270.00
-60.00
GF09-54
155
551071.1
5373012.5
289.9
270.00
-73.00
GF09-55
155
551068.7
5373040.5
289.4
270.00
-58.00
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