Apogee Minerals Acquires Strategic Mineral Claim at Pine Channel Gold Project, Saskatchewan April 5 th, 2023 , Vancouver , British Columbia – Apogee Minerals Ltd. (“Apogee” or the “Company”) (TSXV: APMI) is pleased to announce that it has acquired a strategic mineral
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April 5th, 2023
News Release
Apogee Minerals Acquires Strategic Mineral Claim at Pine Channel Gold Project,
Saskatchewan
April 5 th, 2023 , Vancouver , British Columbia – Apogee Minerals Ltd. (“Apogee” or the
“Company”) (TSXV: APMI) is pleased to announce that it has acquired a strategic mineral
disposition within its’ Pine Channel Gold Property tenure that covers the historic Algold Bay
mineralization.
Pine Channel Project Map
https://apogeemineralsltd.com/_resources/news/nr-20230405-figure1.jpg
About Algold Bay:
The Algold Bay tenure has been in good standing since 1979 and covers several Au mineralized
showings on the north shore of Lake Athabasca. Gold mineralization at Algold Bay was first
reported in 1935 and subsequent work has included prospecting, trenching, geophysical surveys,
and five short diamond drill holes, with the last recorded work in 1988 by Colchis Resources.
The MEL-CEC showing is a vertically dipping shear zone exposed for approximately 300m strike
length. Historical chip sampling has returned values ranging from trace to 100.1 g/t (3.24 oz/t) Au
over 0.8m, 26.4g/t Au over 1.9 m, 16.5 g/t Au over 1.31 m, and 11.2 g/t over 1.3 m. Drill intercepts
at the MEL-CEC returned values ranging from trace to a high of 63.5 g/t (2.04 oz/t) Au over 0.6
m.
The Algold Creek occurrence, a 3.7 m wide quartz-tourmaline vein, returned values from trace to
a high of 9 g/t Au from a grab sample. At the Occurrence 3 Au Showing, quartz stringers with
arsenopyrite and visible gold returned values from trace up to 5.7 g/t Au.
Rock grab samples are selective samples by nature and as such are not necessarily
representative of the mineralization hosted across the property. These results are historical in
nature and have not been confirmed by Apogee, but are considered to be reliable and will form a
basis for ongoing work.
Pine Channel Gold Property Summary:
The Pine Channel Property consists of 29 mineral dispositions covering 6,519 hectares located
approximately 40 km west of Stony Rapids, Saskatchewan which is the logistics/business hub for
northern Saskatchewan. The property can be accessed year -round by float - or ski -equipped
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aircraft from Stony Rapids or Fort McMurray, AB. The eastern and northern part of the property
is transected by a high voltage powerline. Most geological fieldwork is limited to late May to
October but other operations such as geophysical surveys and diamond drilling can be completed
year-round.
The main deposit type that is being explored for at Pine Channel is structurally cont rolled vein-
quartz (lode) gold deposits. Mineral occurrences on the Pine Channel Property contain
predominantly gold, with rare base metal occurrences. Within the Pine Channel tenures there are
twenty historical showings reported by the Saskatchewan Mineral Deposit Index (SMDI).
Highlights from documented historical work and previously reported results include:
• North Norite Bay (SMDI 2183): 407.96 g/t Au over 0.5 m (drill hole)
• ELA (SMDI 1574): 39.96 g/t Au over 0.55 m (drill hole)
• Holes G-1 and G-3 (SMDI 2329): 3.20 g/t Au over 1 m (drill hole)
• Occurrence No. 6/Occurrence No. 8 (SMDI 1581): 90.6 g/t Au over 0.2 m (trench sample)
• Cole Lake Ni -Cu (SMDI 1583): 0.45% Ni over 7.0 m (drill hole), 6.2 g/t Au, 0.01% Ni and
0.06% Cu over 3.0 m (trench sample)
The above results were summarized from SMDI descriptions and assessment reports filed with
the Saskatchewan government. Management cautions that historical results were collected and
reported by past operators and have not been verified nor confirmed by a Qu alified Person, but
form a basis for ongoing work in the Pine Channel property area.
In 2019-2020, Eagle Plains completed field programs focused on prospecting and mapping in
areas of known mineral occurrences. The work confirmed the widespread occurrence s of
auriferous quartz veins and associated shear systems in the Pine Channel property. Analytical
results from the seventy-two rock samples collected in 2020 range from 6 ppb Au to 68,400 ppb
Au. Twenty-three of the samples returned greater than 1 g/t Au, and eight returned greater than
10 g/t Au. The most encouraging of the known showings are the ELA Shaft showing (SMDI 1574)
and Occurrence No. 6 and No. 8 (SMDI 1581), which both demonstrate anomalous gold
geochemical results and potential for extension of known mineralization along strike.
In 2022, Apogee carried out work including a helicopter-borne high-resolution aeromagnetic and
radiometric survey covering 380 line -km. The survey was completed by Precision Geosurveys
Inc. of Langley, British Columbia . In addition, a 70 km 2 Lidar and orthophoto survey was
conducted by Eagle Mapping Ltd. of Langley British Columbia. Lineation analyses of the Lidar
imaging, combined with the aeromagnetic data, defined a number of new target areas adjacent
to and along strike from known mineralization, which will be priority targets for future exploration.
Qualified Person:
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 -
Standards of Disclosure for Mineral Projects and a Director of Eagle Plai ns Resources Ltd., has
prepared, reviewed, and approved the scientific and technical disclosure in this news release.
About Apogee Minerals Ltd.:
Apogee Minerals Ltd. is a mineral exploration company. Our goal is to build shareholder value
through mineral project acquisitions and advancement, as well as new mineral discoveries.
To find out more about Apogee Minerals Ltd. (TSX-V: APMI) visit the Company’s website:
www.apogeemineralsltd.com
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Apogee Minerals Ltd.
“Jim Pettit”
James Pettit
CEO and Director
For further information, please contact:
Apogee Minerals Ltd.
Riley Trimble, Director
Email: [email protected]
Tel: (604) 416-2978
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of
the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of Canadian securities
laws. Such information includes, without limitation, information regarding the timeline for
completion of the compilation, interpretation and reporting of the Company’s completed survey
work. Although the Company believes that such information is reasonable, it can give no
assurance that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: “believe”, “expect”,
“anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their
nature, refer to future events. The Company cautions investors that any forward -looking
information provided by the Company is not a guarantee of future results or performance, and
that actual results may differ materially from those in forward looking information as a result of
various factors, including, but not limited to: the ability of the Company’s surveyors to complete
the compilation, interpretation and reporting of the Company’s completed survey work on the
anticipated timelines; the Company’s ability to raise the necessary capital or to be fully able to
implement its business strategies; and other risks and factors that the Company is unaware of at
this time.
The forward-looking statements contained in this news release are made as of the date of this
news release. The Company disclaims any intention or obligation to update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise, except as
required by law.
The securities referred to in this news release have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an
applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities, nor a solicitation for offers to
buy any securities.