Business & Finance
Business and Finance
Business and Finance 
Thu, June 3, 2010
Apogee Releases Additional Drill Results Including 11.91 Meters Grading 539.92 g/t Silver
TORONTO, ONTARIO--(Marketwire - June 3, 2010) - Apogee Minerals Ltd. (TSX VENTURE:APE) reports assay results from an additional three diamond drill holes at the Pulacayo deposit located in southwest Bolivia. DDH's PUD 135, PUD 138 and PUD 139 were drilled to increase the estimated mineral resource confidence of the resource to indicated and/or measured category and demonstrate continuity in this area of the deposit. In the opinion of the Company, the excellent grade and thickness of the deposit, along with the close proximity to existing mining infrastructure may result in the deposit being considered for early production in future development plans. The Company is also encouraged that these holes are within the existing NI 43-101 resource area (See Press Releases dated March 15, 2010, January 15, 2010 and February 10, 2009 and the NI 43-101 compliant technical report dated December 2008 filed under the SEDAR profile of the Company at [ www.sedar.com ]).
As set out in the table below, the Company believes the results are indicative of the continuity of the high grade zones and assays (See Table 1 and Figure 3). Highlights from the drilling include:
- DDH PUD 135 which intersected 11.91 meters grading 539.92 g/t silver, 0.90% lead and 0.63% zinc within a 20 meter interval grading 325 g/t silver, 0.62% lead and 0.66% zinc.
- DDH PUD 138 which intersected 17 meters grading 318.47 g/t silver, 0.71% lead and 1.57% zinc within a 42.0 meter interval grading 181.66 g/t silver, 0.75% lead and 1.78 5 zinc.
- DDH PUD 139 which intersected 27 meters which graded 80.36 g/t silver, 0.30% lead and 0.73% zinc.
Previous drilling intersected high grade mineralization within the deposit in this area and as such it is of interest for early production. The holes were drilled from an underground station and provide better definition of the high grade zone in this area. These results confirm both the high grades and the substantial widths of the deposit in this area and expected to be key in increasing the resource category and confidence of the resources when the next resource assessment is completed following the current drill campaign.
The following table provides the detailed results from the additional drill holes.
| Hole No. | UTM E (m) | UTM N (m) | Azimuth | Angle | From (m) | To (m) | Core Length (M) * | Ag g/t | Pb % | Zn % |
| PUD – 135 | 740406 | 7744489 | 353 | - 33 | 156.00 | 176.00 | 20.00 | 325.31 | 0.62 | 0.66 |
| Incl. | 158.00 | 169.91 | 11.91 | 539.52 | 0.90 | 0.63 | ||||
| PUD – 138 | 740406 | 7744489 | 338 | - 30 | 130.00 | 172.00 | 42.00 | 181.66 | 0.75 | 1.78 |
| Incl. | 135.00 | 172.00 | 37.00 | 205.46 | 0.83 | 1.92 | ||||
| Incl. | 142.10 | 157.00 | 14.90 | 352.07 | 1.29 | 2.82 | ||||
| Incl. | 154.00 | 157.00 | 3.00 | 1035.12 | 0.73 | 2.25 | ||||
| Incl. | 160.00 | 171.00 | 11.00 | 207.24 | 0.84 | 1.46 | ||||
| PUD – 139 | 740407 | 7744484 | 338 | - 40 | 171.00 | 198.00 | 27.00 | 80.36 | 0.30 | 0.73 |
| Incl. | 171.00 | 180.00 | 9.00 | 117.19 | 0.32 | 0.84 | ||||
| Incl. | 178.00 | 180.00 | 2.00 | 435.00 | 0.52 | 1.89 | ||||
| Incl. | 189.00 | 191.00 | 2.00 | 284.00 | 0.67 | 0.59 | ||||
* True widths of the intersections are estimated to be approximately 80% of the core lengths provided in the table above.
The Pulacayo Deposit is a thick east-west striking zone of conjugate veins, stockwork and disseminated sulphides that locally are up to 200 meters thick with a higher grade core that comprises the resource and may exceed 60 meters in thickness locally. The known strike length of the Tajo Vein System which hosts the Pulacayo deposit is close to 3 kilometers and it remains open at both ends along strike (Figure 2). Mineralization comprises sphalerite, galena and tetrahedrite in sulphide-rich veins ranging from a few centimeters to greater than one meter thick and heavily disseminated sphalerite, galena and tetrahedrite between the veins.
Quality Control
The Company employs a quality assurance/quality control protocol on all aspects of the diamond drilling, sampling and analytical procedures. The Quality Control and all aspects of the exploration program are supervised by Apogee's Vice President of Exploration, Joaquin Merino, P. Geo, a qualified person as defined by NI 43–101. Mr. Merino has reviewed and approves the scientific and technical information presented in this press release.
For detailed project information please refer to Apogee's web site at [ www.apogeeminerals.com ].
This release has been reviewed and approved by Chris Collins, P. Geo., President of Apogee and a qualified person as defined by NI 43-101.
About Apogee Minerals Limited
Apogee Minerals Ltd. is a mineral exploration and development stage company listed on the TSX Venture Exchange under the symbol APE. Apogee targets advanced silver-zinc-lead projects in South America that demonstrate potential to be developed to production. Currently its projects are located in the historic silver producing regions of southwest Bolivia and northern Chile.
Its most advanced project is the Pulacayo-Paca project in Bolivia, which is an option to joint venture with Golden Minerals Company. This project includes the property that covered the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press release contains "forward looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Company, its subsidiaries and its projects, statements regarding the drill program at Pulacayo, development of the Pulacayo project, statements regarding exploration prospects, and requirements for additional capital. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the 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: financing not being available at desired prices; general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. 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 such information will prove to be accurate, as 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. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
To view Figure 1: Pulacayo Project location map, please visit the following link: [ http://media3.marketwire.com/docs/APEFigure1.pdf ]
To view Figure 2: Tajo Vein System, plan view, please visit the following link: [ http://media3.marketwire.com/docs/APEFigure2.pdf ]
To view Figure 3: Pulacayo Deposit Vertical Longitudinal Sections, please visit the following link: [ http://media3.marketwire.com/docs/APEFigure3.pdf ]
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