Apex Investigation Reveals 24.98 g/t Au over 10.20 m in Historic Drill Hole E1411 on Its Holdings in Southern British Columbia, Canada
Apex Investigation Reveals 24.98 g/t Au over
10.20 m in Historic Drill Hole E1411 on Its
Holdings in Southern British Columbia,
Canada
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2025) - Apex Resources Inc. (TSXV: APX)
(OTC Pink: SLMLF) ("Apex" or the "Company") is pleased to report the discovery of promising new and
priority drill targets on Apex's precious and critical mineral holdings in southern British Columbia,
Canada, determined during Apex's ongoing investigation of archival data sets initiated by shifting
commodity prices and national interests.
Previous exploration on Apex's Jersey-Emerald Property (the "Property") was largely directed at lead,
zinc and tungsten mineralization, while the potential to host economic gold mineralization was largely
overlooked. After beginning a preliminary assessment of archival data, a primary target area will be to
further test proximal to a 2014 historical drill intercept of 24.98 g/T Au over 10.2 m (116.80-127.00m
depth) in hole E1411, particulars of which are provided below:
Hole ID
Easting
Northing
Length (m)
Azimuth
Dip
E1411
483954
5439795
191.0
105
-89
Approximately 850 m to the south-southeast of that drill intercept is a bismuth gold zone, which is
exposed in underground workings on the east side of the Jersey Lead-Zinc mine. The Bismuth Gold
Zone is a 9 - 20 m thick silicified horizon which is interpreted as part of a gold skarn system. It has been
traced in underground workings and by drilling for a strike length of 200 m, with grades including 8 g/T
over 0.96 m.
Another new gold-silver target area is the Meadow View occurrence, where gold-silver
mineralization occurs in siliceous limestone beds, with historical samples of 1.4 g/T Au, 2360 g/T Ag and
0.74% Cu reported
1
. This area was acquired in 2017 to become part of the Apex's property holdings. It
is a new style of mineralization on the property and is untested by any modern exploration.
Ron Lang, President & CEO noted, "After retrieving historic records and beginning review, we have
already seen new drill target areas on the Jersey-Emerald Property. We are satisfied there is great
potential to discover even more information pointing to the remarkable open-ended potential for gold,
silver, tungsten and other critical mineral targets located on our holdings in the southern West Kootenays
of BC. With further review of our enormous archives of historical mining and exploration records
underway, we are confident that rising prices and demand for certain metals and minerals known to be
present on company property matched with new ideas and exploration methods will add further value to
our exploration projects."
In addition to gold targets, potential exists to expand the known tungsten resource on the property.
Follow-up is needed at the East Emerald Tungsten Zone, where 2014 historical drilling intersected
several good tungsten (+ gold) intersections, including 0.47% WO
3
and 0.26 g/T Au over 5.15 m
(123.25-128.40m depth) and 0.84% WO
3
and 1.23 g/T Au over 5.25 m (267.00-272.25m depth) in hole
E1432, particulars of which are provided below:
Hole ID
Easting
Northing
Length (m)
Azimuth
Dip
E1432
483850
5439665
287.0
114.1
-60
Further work is also warranted to test the northern extension of the Invincible Tungsten Zone, along the
favourable contact with the Dodger granitic stock. The southern extension of the historically mined
Emerald Tungsten Zone is another quality tungsten target that requires follow-up. Tungsten mineralization
occurs within the "Emerald trough" at the contact between limestone and argillite, with the Emerald
granitic stock. Mineralization within this north-northeast trending trough was mined over 900 m strike
length. The Emerald trough continues for at least 1 km to the south of the historic mine workings and has
been only minimally tested by past drilling.
For further information regarding the Jersey-Emerald Project, please refer to the Company's previously
SEDAR+ filed technical report titled "NI 43-101 Resource Estimate for the Jersey-Emerald Project, for
Apex Resources Inc.", prepared by S. Bird, Moose Mountain Technical Services, effective date July 26,
2021.
As there appear to be more high-calibre open targets revealed by Apex's initial research, the company
is forming an experienced geological team to investigate, compile and interpret the archived data
available to discover more high priority targets to explore by diamond drilling, including with partners, in
the months ahead.
Apex's suite of precious and critical mineral projects, including its flagship Lithium Creek Project in
Nevada, USA, can be found at its website:
apxresources.com
.
Other Corporate Update
The Company announces that it has closed the final tranche (the "
Final Tranche
") of its previously
announced non-brokered financing (the "
Financing
") with the issuance of 780,000 units at a price of
$0.05 per unit (a "
Unit
") for gross proceeds of $39,000.
Each Unit is comprised of one common share of the Company and one non-transferrable common share
purchase warrant (a "
Warrant
").
Each Warrant entitles the holder to purchase one additional common
share of the Company (a "
Warrant Share
") at a price of $0.10 per Warrant Share for a period of two
years expiring on February 28, 2027 (the "
Expiry Date
"), subject to the Acceleration Provision (as
defined in the Company's news release dated February 11, 2025).
Certain insiders of the Company acquired $30,000 of the Financing and as such a portion of the
Financing is considered a related party transaction as defined in the Exchange's Policy 5.9 and
Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("
MI 61-
101
"). The Company is relying upon the exemption from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of the shares subscribed for, nor the
consideration paid for the shares, exceeds 25% of the Company's market capitalization.
The securities issued pursuant to the Final Tranche are subject to a four-months and one day hold period
expiring June 29, 2025.
Proceeds from the Financing will be used to fund the Company's projects and for general working capital
purposes.
About Apex Resources Inc.
Apex is a mineral exploration company engaged in the business of the acquisition, exploration and
development of mineral resource properties. Apex's common shares trade under the symbol "APX" on
the TSX-V & "SMLF" on the OTC.
Historical drill intercepts listed in this news release are core intercepts. Further information is needed to
determine how the core intercepts relate to the true width of mineralization. Historic tungsten intervals are
expressed as %WO
3
, which is calculated as %W x 1.2611. The technical information in this news
release, prepared in accordance with Canadian National Instrument 43-101, has been reviewed and
approved by Linda Caron, P. Eng., a Qualified Person, who is independent of Apex. Ms. Caron has
been involved with prior exploration programs on the Property in 2017 and 2018.
On Behalf of the Board of Directors of
Apex Resources Inc.
Ron Lang,
President & CEO
Ph. +1 (250) 212-7119 or
website:
www.apxresources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term in defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
press release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This news release may
contain forward-looking information within the meaning of applicable securities laws ("forward-looking
statements"). Forward-Looking statements are statements that are not historical facts and are generally,
but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends,"
"estimates," 'projects," "potential" and similar expressions, or that events or conditions "will," "would,"
"may," "could" or "should" occur. These forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: risks related to fluctuations in metal prices;
uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on
acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors;
the possibility that results of work will not fulfill expectations and realize the perceived potential of the
Company's properties; risk of accidents, equipment breakdowns and labour disputes or other
unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the
work program; the risk of environmental contamination or damage resulting from Apex's operations and
other risks and uncertainties. Any forward-looking statement speaks only as of the date it is made and,
except as may be required by applicable securities laws, the Company disclaims any intent or obligation
to update any forward-looking statement, whether as a result of new information, future events or results
or otherwise.
1
BC Minister of Mines Annual Report 1926, p. 281. Minfile 082FSE020
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