Apollo Silver Corp. Takes Major Steps Forward in Calico Project
Apollo Silver Corp. (“Apollo” or the “Company”) (TSX.V: APGO, OTCQB: APGOF, Frankfurt: 6ZF) has much to celebrate as it files the independent technical report for the updated Mineral Resource Estimate (MRE) concerning the Calico Silver Project. This project signifies a crucial initiative by the Company, aiming to capitalize on the growing demand for silver and other critical minerals.
Summary of the Updated Mineral Resource Estimate
The report, officially titled “NI 43-101 Technical Report and Mineral Resource Estimate for the Calico Silver Project”, is now accessible and outlines a comprehensive overview of the project's progress and findings. It highlights an impressive increase in resources, verifying the Company's commitment to transparency and accuracy in its reporting.
MRE Highlights
Some key findings from the updated MRE include a combination of more than 55 million tonnes with a remarkable grade of 71 grams per tonne of silver, translating to an astonishing 125 million ounces of silver. This marks a significant 61% increase in tonnage and a notable 14% climb in silver ounces, adding 15 million ounces of contained silver compared to previous estimates.
Other Mineral Resources
The updated report doesn't just focus on silver; it uncovers new opportunities in the barite and zinc resources as well. The report estimates 36 million tonnes of barite at a solid grade of 7.4%, alongside an 0.45% zinc content, showcasing the potential for additional revenue streams. Inferred resources also revealed significant gains, with a gold estimate rising by 86%, indicating a total of 17 million tonnes at a grade of 0.25 grams per tonne.
The Strategic Importance of the Calico Project
The Calico Project is drawing attention not only for its silver but also for hosting barite and zinc, categorized as critical minerals. These minerals are fundamental to the United States' energy and medical sectors. The project spans an extensive 8,283 acres, featuring substantial infrastructure to enhance operational efficiency.
Geological Overview
Located in the southern Calico Mountains within the Mojave Desert, the project benefits from a wealth of geological diversity. The mineralization patterns are notably associated with high-level, low-sulfidation silver-dominant epithermal vein types, developed alongside two critical minerals the company highlighted in the report.
Qualified Personnel for Trustworthy Assessments
The integrity of the mineral resource estimations in the MRE rests significantly on the expertise of Qualified Persons. Renowned professionals from Stantec Consulting reviewed the findings, ensuring that the operations align with stringent industry standards. This combination of knowledge gives investors confidence in the accuracy and reliability of the information provided.
Investing in the Future with Apollo Silver
Apollo Silver Corp. is taking definitive strides towards being a leader in the silver market. The management team, recognized for its experience and ability to execute developmental projects, is keen on leveraging the new MRE to foster growth and attract investments. The exploration of the Calico Project represents a unique opportunity for shareholders and stakeholders alike, signifying potential economic benefits driven by resource expansion and increasing mineral values.
Frequently Asked Questions
What is the Calico Project?
The Calico Project consists of a large, undeveloped primary silver deposit located in the southern Calico Mountains, emphasizing silver with significant barite and zinc byproducts.
What does the updated MRE include?
The updated MRE includes estimates of 125 million ounces of silver, 36 million tonnes of barite, and significant increases in gold resources, showcasing sustained growth in all measured categories.
What is the significance of critical minerals?
Critical minerals like barite and zinc are essential for various industries, including energy and healthcare, and are vital to the US's strategic reserve, enhancing the overall value of the Calico Project.
Who prepared the Technical Report?
The Technical Report was prepared by the Stantec Consulting team, featuring experienced professionals who ensure the findings meet industry standards and reflect accurate mineral valuations.
How can investors learn more about Apollo Silver Corp.?
Investors can visit Apollo's official website or contact their investor relations team to stay updated on ongoing developments and future plans for the Calico Project.
