Tickers: PINX:SLMLD, XTSE:APX
August 14, 2017 / TheNewswire / Vancouver, BC – Apex Resources Inc. ("Apex" or the "Company) (TSXV: APX) is pleased to report that it has completed the planned Phase 1 exploration program on the Red Ridge and Mt. Anderson precious metal properties in the Yukon Territory. The work program carried out in July and early August involved mapping, prospecting, soil sampling and rock chip sampling of the two road accessible properties. These work programs were carried out by Aurora Geosciences Ltd. of Whitehorse, YT under direction of project manager Carl Schulze, P.Geo.
On the Red Ridge Property, an extensive soil sampling program was carried out in order to define and expand a number of historic gold and silver showings. Preliminary sampling by Apex in 2016 confirmed the reported high grade gold mineralization in several of the historic showings when assays ranging from 16 g/t to 16,271 g/t silver and 0.2 g/t to 23.4 g/t gold were obtained (see news release of Oct 12, 2016). During the 2017 soil sampling program a number of mineralized bedrock showings were also encountered and sampled. A total of 62 rock chip samples were taken from showings and significant alteration zones. Assays are expected within the next 30 days.
On the Mt Anderson property a prospecting, mapping and rock sampling program focused on exploring several areas of strong gold and silver soil geochemical anomalies discovered by a 4,600 sample soil survey completed in 2011. The 2017 survey has resulted in the collection of 104 rock chip samples from a number of new mineralized showings and historic workings. In 2011, previous property operator Gold World Resources Inc. shipped a bulk sample from the property that contained 30.5 g/t Au, 532 g/t Ag, 9.1% Pb, 6.5% Zn and 0.5% Cu (see news release of Mar 1, 2017).
The Red Ridge and Mt. Anderson exploration programs are being conducted under the direct supervision of Ms. Linda Dandy, P.Geo., Director. Ms. Dandy is a "Qualified Person" for the purpose of NI 43-101 and has reviewed and approved the contents of this news release.
Kena Daylight Properties
On the company’s Kena and Daylight gold properties in southeastern BC, Apex’s joint venture partner Prize Mining Corp. has engaged Terralogic Exploration Inc. of Cranbrook, BC to carry out its 2017 exploration program. The Phase I program is currently under way and includes an infill soil geochemical program, strategic high-resolution ground based magnetic & VLF-EM geophysical surveys, and detailed prospecting, geological and structural analysis.
Baseline environmental water quality sampling has also been initiated during Phase I in anticipation of subsequent bulk sampling activities planned for the Daylight and Kena properties.
Prize Mining Corp has an option to acquire an 80% interest in Apex’s Kena and Daylight properties. To exercise its option and earn its 80% interest in the project, Prize will make annual cash and share option payments over 36 months totally $ 1,250,000 and issue 1,500,000 shares and complete $ 3,000,000 in Kena Project related exploration expenditures over four years.
For further information on the Company’s projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
This release was prepared by Apex’s management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Apex expects are forward-looking statements. Although Apex believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Apex, investors should review Apex’s filings that are available at www.sedar.com or Apex’s website at www.apxresources.com.
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