Apollo Silver Corp. Submits NI 43-101 Technical Report
Apollo Silver Corp. is thrilled to announce that it has officially filed a comprehensive National Instrument 43-101 Technical Report titled "NI 43-101 Technical Report Cinco de Mayo Project". This report is an important step in connection with their agreement with MAG Silver Corp., aimed at advancing the exciting opportunities present within the Cinco de Mayo Project.
The Role of the Qualified Person
At the forefront of this report is Ms. Katharine Masun, a Principal Resource Geologist with SLR Consulting (Canada) Ltd. Serving as the Qualified Person for this endeavor, Ms. Masun conducted vital site visits, which included a thorough review of drill core samples and geological assessments crucial to the project.
Significant Historical Work at Cinco de Mayo Project
The Cinco de Mayo Project boasts a robust history of technical examinations and exploration. This includes extensive geological surveys and approximately 213,591 meters of drilling conducted by MAG Silver from mid-2004 to 2012. The previous efforts culminated in a notable historical Mineral Resource estimate prepared by Roscoe Postle and Associates.
Mineral Resource Estimates Overview
The 2012 evaluation suggested a significant Inferred Mineral Resource of 12.45 million tonnes, showcasing impressive grades of silver, gold, lead, and zinc. Highlights include a total of 52.7 million ounces of silver and 785 million pounds of lead, which underscores the potential of the Upper Manto deposit.
New Discoveries and Exploration Plans
A facility called the Pegaso Zone has surfaced as a promising exploration target, not previously included in the historical resource estimates. Apollo's technical team is enthusiastic about this area and considers it a key focus for future exploration endeavors, as it suggests the possibility of more substantial resource deposits.
Cinco de Mayo's Potential
Located in the lush area of Chihuahua, with ideal access paths, the Cinco de Mayo Project presents itself as a high-potential site for mining activities. The uniqueness of manto deposits located in the area indicates various mineral compositions, allowing for a diverse approach to resource extraction.
Transaction Terms with MAG Silver
On September 20, 2024, Apollo engaged in an earn-in agreement to attain complete ownership of a significant subsidiary of MAG Silver. This collaborative effort enables Apollo to independently oversee all exploration and development activities while making the necessary preparations for an ambitious exploration program.
Future Work and Community Engagement
Apollo's strategic plan includes obtaining essential licenses and permits for conducting mining operations. They are committed to fostering good community relations and ensuring environmental stewardship as they progress with exploration. Such a responsible approach is fundamental to gaining local support.
The Vision for Apollo Silver
Apollo Silver Corp. is led by a dedicated team passionate about bringing high-quality silver projects into fruition. With their extensive experience and commitment to responsible mining, the company is set on advancing its strategic initiatives while focusing on sustainability in the regions of their operations.
Qualified Person Overview
The report is endorsed by Isabelle Lépine, who ensures that all scientific and technical data adheres to rigorous standards, upholding Apollo’s transparency and commitment to high standards of practice.
Frequently Asked Questions
What is the focus of Apollo Silver Corp.?
Apollo Silver Corp. focuses on silver exploration and resource development, particularly at the Cinco de Mayo Project and the Calico Project.
Who conducted the site visits for the Technical Report?
Ms. Katharine Masun, Principal Resource Geologist with SLR Consulting, conducted the necessary site visits and assessments for the Technical Report.
What is the significance of the Pegaso Zone?
The Pegaso Zone is a promising discovery that could indicate larger and higher-grade mineral resources at depth, warranting further exploration.
What historical work has been undertaken at the Cinco de Mayo Project?
There has been extensive technical work, including geological mapping and drilling, performed at the site by MAG Silver from 2004 to 2012, leading to significant mineral resource estimates.
What are the next steps for Apollo Silver?
Apollo Silver intends to continue obtaining necessary permits and licenses while planning a comprehensive exploration program aimed at uncovering more valuable mineral resources at the Cinco de Mayo Project.
