Apollo Silver Outlines 2025 Calico Work Program and Progress at Cinco de Mayo
Apollo Silver Corp. (APGOF) has announced its 2025 work program for the Calico Silver Project in California and provided updates on the Cinco de Mayo Project in Mexico. The program focuses on two main components: expanding the 2023 Waterloo Mineral Resource Estimate (MRE) by defining and potentially adding barite, and conducting mapping and sampling in the Burcham Mine area.
The company plans to initiate a comprehensive barite work program, recognizing barite's status as a USGS-listed critical mineral. The current Waterloo MRE contains 110 million ounces of silver at 100 g/t Ag in Measured and Indicated categories, and 70,000 oz gold at 0.5 g/t Au.
The barite program will include re-assaying historical and recent drill pulps using X-Ray Fluorescence, starting February 2025. The Burcham program will involve detailed surface mapping, rock sampling, and approximately 1,000 metres of exploration core drilling to better understand gold mineralization.
Apollo Silver Corp. (APGOF) ha annunciato il suo programma di lavoro per il 2025 per il Calico Silver Project in California e ha fornito aggiornamenti sul Cinco de Mayo Project in Messico. Il programma si concentra su due componenti principali: l'espansione della Stima delle Risorse Minerarie (MRE) Waterloo 2023 definendo e potenzialmente aggiungendo barite, e la mappatura e il campionamento nell'area della Burcham Mine.
L'azienda prevede di avviare un programma di lavoro completo sulla barite, riconoscendo lo status della barite come minerale critico elencato dal USGS. L'attuale MRE Waterloo contiene 110 milioni di once d'argento a 100 g/t Ag nelle categorie Misurate e Indicate, e 70.000 once d'oro a 0,5 g/t Au.
Il programma sulla barite includerà la riesaminazione delle polveri dei fori storici e recenti utilizzando la Fluorescenza a Raggi X, a partire da febbraio 2025. Il programma Burcham coinvolgerà mappature dettagliate della superficie, campionamento di rocce e circa 1.000 metri di perforazioni esplorative per comprendere meglio la mineralizzazione dell'oro.
Apollo Silver Corp. (APGOF) ha anunciado su programa de trabajo para 2025 para el Calico Silver Project en California y ha proporcionado actualizaciones sobre el Cinco de Mayo Project en México. El programa se centra en dos componentes principales: expandir la Estimación de Recursos Minerales (MRE) Waterloo 2023 definiendo y potencialmente agregando barita, y realizando mapeo y muestreo en el área de la Mina Burcham.
La empresa planea iniciar un programa de trabajo integral sobre la barita, reconociendo el estatus de la barita como mineral crítico listado por el USGS. La actual MRE Waterloo contiene 110 millones de onzas de plata a 100 g/t Ag en las categorías Medidas e Indicadas, y 70,000 onzas de oro a 0.5 g/t Au.
El programa de barita incluirá la re-evaluación de pulpas de perforación históricas y recientes utilizando Fluorescencia de Rayos X, comenzando en febrero de 2025. El programa Burcham involucrará mapeo detallado de la superficie, muestreo de rocas y aproximadamente 1,000 metros de perforación de testigos de exploración para comprender mejor la mineralización de oro.
Apollo Silver Corp. (APGOF)는 캘리포니아의 Calico Silver Project를 위한 2025년 작업 프로그램을 발표하고 멕시코의 Cinco de Mayo Project에 대한 업데이트를 제공했습니다. 이 프로그램은 두 가지 주요 구성 요소에 집중하고 있습니다: 2023년 Waterloo 광물 자원 추정(MRE)을 정의하고 잠재적으로 바리트를 추가하는 것과 Burcham Mine 지역에서의 매핑 및 샘플링을 수행하는 것입니다.
회사는 바리트가 USGS에 의해 중요한 광물로 지정된 상태를 인식하여 포괄적인 바리트 작업 프로그램을 시작할 계획입니다. 현재 Waterloo MRE에는 1억 1천만 온스의 은이 100 g/t Ag의 측정 및 지표 범주에 포함되어 있으며, 70,000 온스의 금이 0.5 g/t Au에 포함되어 있습니다.
바리트 프로그램은 2025년 2월부터 X선 형광법을 사용하여 역사적 및 최근의 드릴 펄프를 재분석하는 것을 포함할 것입니다. Burcham 프로그램은 표면 매핑, 암석 샘플링 및 약 1,000미터의 탐사 코어 드릴링을 포함하여 금 광물화에 대한 이해를 높일 것입니다.
Apollo Silver Corp. (APGOF) a annoncé son programme de travail pour 2025 concernant le Calico Silver Project en Californie et a fourni des mises à jour sur le Cinco de Mayo Project au Mexique. Le programme se concentre sur deux composantes principales : l'expansion de l'Estimation des Ressources Minérales (MRE) Waterloo 2023 en définissant et en ajoutant potentiellement de la baryte, ainsi que la réalisation de cartographies et d'échantillonnages dans la zone de la Mine Burcham.
L'entreprise prévoit de lancer un programme de travail complet sur la baryte, reconnaissant le statut de la baryte en tant que minéral critique répertorié par l'USGS. L'actuelle MRE Waterloo contient 110 millions d'onces d'argent à 100 g/t Ag dans les catégories Mesurées et Indiquées, et 70 000 onces d'or à 0,5 g/t Au.
Le programme sur la baryte inclura la réévaluation des pulpes de forage historiques et récentes à l'aide de la Fluorescence X, à partir de février 2025. Le programme Burcham impliquera un mappage détaillé de la surface, un échantillonnage de roches et environ 1 000 mètres de forage exploratoire pour mieux comprendre la minéralisation de l'or.
Apollo Silver Corp. (APGOF) hat sein Arbeitsprogramm für 2025 für das Calico Silver Project in Kalifornien angekündigt und Updates zum Cinco de Mayo Project in Mexiko bereitgestellt. Das Programm konzentriert sich auf zwei Hauptkomponenten: die Erweiterung der Mineralressourcenschätzung (MRE) Waterloo 2023 durch die Definition und potenzielle Hinzufügung von Barit und die Durchführung von Kartierungen und Probenahmen im Bereich der Burcham Mine.
Das Unternehmen plant, ein umfassendes Barit-Arbeitsprogramm zu starten und erkennt Barit als kritisches Mineral, das von der USGS gelistet ist. Die aktuelle MRE Waterloo enthält 110 Millionen Unzen Silber bei 100 g/t Ag in den Kategorien Gemessen und Angedeutet sowie 70.000 Unzen Gold bei 0,5 g/t Au.
Das Barit-Programm wird die erneute Analyse historischer und aktueller Bohrpulver mit Hilfe von Röntgenfluoreszenz umfassen, beginnend im Februar 2025. Das Burcham-Programm wird detaillierte Oberflächenkartierungen, Gesteinsproben und etwa 1.000 Meter Explorationskernbohrungen umfassen, um das Verständnis der Goldmineralisierung zu verbessern.
- Current Waterloo MRE contains substantial resources: 110M oz silver and 70,000 oz gold
- Potential to add barite, a USGS-listed critical mineral, to resource estimate
- New favorable Ejido executive elected at Cinco de Mayo, improving access prospects
- None.
VANCOUVER, British Columbia, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Apollo Silver Corp. (“Apollo Silver” or the “Company”) (TSX.V:APGO, OTCQB:APGOF, Frankfurt:6ZF0) is pleased to provide details on the upcoming 2025 work program (the “2025 Program”) at its Calico Silver Project (“Calico” or the “Project”) located in San Bernardino County, California, as well as provide an update on the newly optioned Cinco de Mayo Project in Chihuahua, Mexico.
Highlights:
- Commencement of barite work program to define and add this critical mineral to an updated mineral resource estimate for Waterloo;
- Initiating a mapping and sampling program in the Burcham mine area of Waterloo, following up on surface gold sampling results, in advance of a drill program to expand on gold mineralization outlined in the 2023 Waterloo Mineral Resource Estimate (“MRE”); and
- A new executive for the Ejido Benito Juarez, owner of the surface rights covering the Cinco de Mayo claims, was recently duly elected and certified.
“Calico hosts approximately 170M ounces of silver with a significant amount of associated barite, a USGS listed critical mineral. With the United States’ growing focus on securing domestic critical mineral supplies, we believe the barite contained within the Calico Project can provide regulatory support. Accordingly, the upcoming program looks to produce a current and compliant barite resource at Calico, creating additional value for our shareholders,” commented Andrew Bowering, Chairman and Interim CEO.
Bowering continued, “Furthermore, I am pleased with our progress to restore social license and gain access to our recently optioned Cinco de Mayo Project. As reported in this release, a new executive that is more favourable to resource development was recently certified for a three year term, opening up the opportunity for meaningful discussion for the first time in a dozen years.”
Calico Technical Program:
The 2025 Program will consist of two components: Expanding the 2023 Waterloo MRE by defining and potentially adding barite to the resource (the “Barite Program”); and mapping and sampling where the Barstow and Pickhandle formations are exposed at surface in the Burcham Mine area, following up on the recent gold surficial sampling results. Depending on the results of the 2025 Program, Apollo Silver plans to commence a small drill program aimed at better localizing and defining the extent of the gold mineralization (the “Burcham Program”).
In 2022, barite was included on the US Geological Survey final list of critical minerals (the “USGS 2022 Report”) and given the abundant presence of high-quality barite associated with the Ag mineralization on the Waterloo property further geochemical analysis is warranted to better define and quantify the potential resource.
The 2023 Waterloo MRE currently consists of 110 million ounces (“Moz”) silver (“Ag”) in 34.2 million tonnes (“Mt”) at 100 grams per tonne (“g/t”) Ag (Measured and Indicated categories); 0.72 Moz Ag in 0.3 Mt at 77 g/t Ag (Inferred category); and 70,000 oz gold (“Au”) in 4.5 Mt at an average grade of 0.5 g/t Au (see news release dated March 6, 2023).
Barite Program
The proposed Barite Program includes a comprehensive re-assaying of selected historical and recent drill pulps by X-Ray Fluorescence, a method that will give a higher precision on the barium content, as its digestion is more complete than what was previously done at Waterloo (4-acid or aqua-regia). This will give a higher confidence level on the barium results that will be used for updating the Waterloo 2023 MRE with barite.
The re-assay program is expected start in February 2025 and should take approximately 3 months to complete at the laboratory.
Burcham Program
The proposed Burcham Program comprises a mapping and drill program which aims to better understand the extent of the gold mineralization at surface and within the Pickhandle Formation, focusing on determining the orientations of high-angle gold-bearing structures. Detailed surface mapping and rock sampling are expected to commence in late February 2025 and will take approximately one week to complete.
Once the mapping is completed and interpreted to define drill targets, approximately 1,000 metres (“m”) of exploration core drilling is expected to eventually follow.
About Barite
Barite was identified in the USGS 2022 Report as essential to national security, the economy, renewable energy, and infrastructure. This list was produced under the mandate of the Energy Act of 2020 to highlight minerals vital to U.S. security and vulnerable to supply chain disruptions. The energy industry relies heavily on barite, with
Results from metallurgical test work completed (see May 2, 2023 news release) showed that barite concentrates of up to
Historical data from ASARCO's 1979 estimate at the Waterloo deposit reported 33.9 Mt of mineralized material at an average grade of
Multi-element assays typically underreport barium, as such the 2025 Barite program will re-assay current and historical pulps using a method that ensures accurate barium concentration reporting. Upon completion, the Company plans to update the 2023 Waterloo MRE with barite.
| (1) | The reader is cautioned not to treat this historical estimate or any part of it as a current mineral resource or reserve. An independent Qualified Person has not completed sufficient work to classify this as a current mineral resource or reserve and therefore the Company is not treating the historical estimate as a current mineral resource or mineral reserve. |
Gold Mineralization at Calico
The Burcham area, home to the historic Burcham mine—the only gold-producing mine in the Calico district—operated in the 1940s. It featured two underground drifts that targeted gold-bearing, subvertical northwest structures (refer to figure 2). Au was associated with chalcopyrite, galena, sphalerite, and silver chloride, hosted in quartz, barite, and iron oxides.
Total production figures are unknown, but historic public articles report grades of up to 0.31 ounces per ton (9.7 g/t). Historical work completed by both ASARCO and Pan American Silver confirmed the presence of Au mineralization at the contact between the Barstow and Pickhandle formations.
Work completed by the Company in 2022 also showed the Au potential of the Burcham mine area, where surface sampling returned several high-grade results including 211 g/t Au and 849 g/t Ag (see February 14, 2023 news release). In addition, the 2023 drill program defined over a kilometer (“km”) of strike length of Au mineralization which remains open in all directions.
The Company’s technical team believes that the contact between the Barstow and Pickhandle formations is an excellent exploration target for replacement style Au mineralization, and possible higher-grade vein hosted Au, and the upcoming 2025 mapping and drilling program will focus on this contact to better characterize the Au mineralization extent in the Burcham area.
Figure 1: 2025 Barite Sampling Program
Figure 2: 2025 Burcham Gold Exploration Program
About the Calico Project
The Calico Project, located in San Bernardino County, California, includes the adjacent Waterloo and Langtry properties totaling 2,950 acres. Situated 15 km (9 miles) from Barstow and 5 km (3 miles) from commercial power, it features an extensive private gravel road network. The Project lies in the southern Calico Mountains of the Mojave Desert, part of the Basin and Range tectonic province, with the northwest-southeast trending range composed mainly of Tertiary volcanics, volcaniclastics, sedimentary rocks, and dacitic intrusions.
Mineralization at Calico comprises high-level low-sulfidation silver-dominant epithermal vein-type, stockwork-type and disseminated-style associated with northwest-trending faults and fracture zones and mid-Tertiary (~19-17 Ma) volcanic activity.
Calico represents a district-scale mineral system endowment with approximately 6,000 m (19,685 ft) in mineralized strike length controlled by the Company. Ag and Au mineralization are oxidized and hosted within the sedimentary Barstow formation and the upper volcaniclastic units of the Pickhandle formation along the contact between these units.
The 2023 Waterloo MRE is 110 Moz Ag in 34.2 Mt at an average grade of 100 g/t Ag (Measured and Indicated categories); 0.72 Moz Ag in 0.3 Mt at an average grade of 77 g/t Ag (Inferred category); and 70,000 oz Au in 4.5 Mt at an average grade of 0.5 g/t Au. In addition, there is 50 Moz Ag and 19.3 Mt at an average grade of 81 g/t Ag (Inferred category) at Langtry.
Cinco de Mayo Update
On February 3rd, 2025, a new and duly elected executive for the Ejido Benito Juarez, owner of the surface rights covering the Cinco de Mayo claims, was officially certified for a term of three years, having won an election on December 13, 2024, by a majority and an approximate margin of 2:1. As the new executive seems pro-development, there is now the opportunity to put an economic proposal to the general ejido population regarding the continued development of Cinco de Mayo, and investment in the local community, in keeping with the Company’s plan for the project.
Qualified Person
The scientific and technical data contained in this news release was reviewed and approved by Isabelle Lépine, M.Sc., P.Geo., Apollo Silver’s Director, Mineral Resources. Ms. Lépine is a registered professional geologist in British Columbia and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Minerals Projects and is not an independent of the Company.
About Apollo Silver
Apollo Silver has assembled an experienced and technically strong leadership team who have joined to advance world class precious metals projects in tier-one jurisdictions. The Company is focused on advancing its portfolio of two significant silver exploration and resource development projects, the Calico Project, in San Bernardino County, California and the Cinco de Mayo Project, in Chihuahua, Mexico.
Please visit www.apollosilver.com for further information.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew Bowering
Chairman and Interim Chief Executive Officer
For further information, please contact:
Andrew Bowering
Chairman and Interim Chief Executive Officer
Telephone: +1 (604) 428-6128
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release includes “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities legislation. All statements included in this news release, other than statements of historical fact, are forward-looking statements including, without limitation the timing and successful commencement and completion of the barite re-assay program and maiden barite resource estimate; the timing and successful completion of mapping and exploration drilling in the Burcham area; the Company’s ability to advance, develop and eventually permit the Project; future silver, gold and barite production; timing and plans of further exploration; and timing and success of any economic proposal or agreement with the Ejido Benito Juarez. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, “potential”, “target”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions and includes the negatives thereof.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of the Company believes to be relevant and reasonable in the circumstances at the date that such statements are made. Forward-looking information is based on reasonable assumptions that have been made by the Company as at the date of such information and is subject to known and unknown risks, uncertainties and other factors that may have caused actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks associated with mineral exploration and development; metal and mineral prices; availability of capital; accuracy of the Company’s projections and estimates; realization of mineral resource estimates, interest and exchange rates; competition; stock price fluctuations; availability of drilling equipment and access; actual results of current exploration activities; government regulation; political or economic developments; environmental risks; insurance risks; capital expenditures; operating or technical difficulties in connection with development activities; personnel relations; and changes in Project parameters as plans continue to be refined. Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to the price of silver, gold and Ba; the demand for silver, gold and Ba; the ability to carry on exploration and development activities; the timely receipt of any required approvals; the ability to obtain qualified personnel, equipment and services in a timely and cost-efficient manner; the ability to operate in a safe, efficient and effective matter; and the regulatory framework regarding environmental matters, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate and actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information contained herein, except in accordance with applicable securities laws. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding the Company’s expected financial and operational performance and the Company’s plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Photos accompanying this announcement are available at
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FAQ
What are the main components of Apollo Silver's (APGOF) 2025 Calico work program?
How much silver and gold resources does Apollo Silver's (APGOF) Waterloo property currently contain?
When will Apollo Silver (APGOF) begin its barite re-assay program at Calico?
How many meters of exploration core drilling does Apollo Silver (APGOF) plan for the Burcham Program?
