Apex Resources Discovers Large Open Ended IP Anomaly ON Its Mount Anderson Property, Yukon
APEX RESOURCES INC.
Suite 2000 – 1066 West Hastings Street
Vancouver, B.C. V6E 3X2
www.apxresources.com
August 14, 2018 TSX Venture Exchange Symbol: APX
APEX RESOURCES DISCOVERS LARGE OPEN ENDED IP ANOMALY ON
ITS MOUNT ANDERSON PROPERTY, YUKON
August 14, 2018, Vancouver, BC - Apex Resources Inc. ("Apex" or the "Company) (TSXV:
APX) is pleased to announce that it has received encouraging results from the Phase I Induced
Polarization (IP) survey completed on its road accessible Mount Anderson Gold-Silver Property,
located 55 kilometres south of Whitehorse in the Yukon Territory. The IP survey has
successfully delineated several chargeability and resistivity anomalies over the two kilometre
length of the survey area. The largest and strongest anomaly represents a new discovery and
remains open.
The IP geophysical survey was carried out by Aurora Geoscience Ltd. of Yellowknife , NWT .
The survey was designed to test a two square kilometre area that includes a strong multi -element
soil geochemical anomaly and four gold -silver showings named the 47, the Adanac, the
Whirlwind Adit and the Ridge Zones. In 2017, rock grab and chip sampling returned anomalous
precious and base metal values ranging from trace up to 67.5 g/t gold, 2,058 g/t silver, >10.0%
lead, 9.44% zinc and 9.84% copper between the 47 and Adanac Zones, a distance of 500 metres
(see News Release dated October 11, 2017).
The IP survey shows that the Whirlwind Adit Zone comprised of the historic A, B, C and D adits
is located at the western end of an elevated IP chargeability response ( see attached maps). This
chargeability anomaly extends for 800 metres to the east where it intersects a much stronger IP
anomaly. The historic 47 Zone is situated over a resistivity low along the southern margin of this
chargeability zone. The Ridge Zone is situated along the northern margin of the chargeability
zone. The Adanac zone, located 500 metres east of the 47 Zone, is s ituated over an east -west
trending resistivity low in an area where there is no chargeability response.
Over the north -east portion of the IP grid the survey has defined a very strong chargeability
anomaly that has been traced over 800 metres in length and is up to 500 metres in width. The
highest chargeability values follow an east-west trending resistivity low. This anomaly is located
400 metres north of, and trending parallel to, the Adanac Zone vein system. The strong anomaly
is open to the north, northeast and northwest. Mapping shows that the IP anomaly is situated
over Triassic aged granodiorite that has been intruded by a diorite dyke . Outcrop is spar se but
weathered, limonitic, quartz vein float was found coincident with th is chargeability an d
resistivity anomaly.
These preliminary IP results show chargeable material extends over a strike distance of more
than 1.5 kilometres and remains open to the north and east. Chargeability values increase with
depth suggesting that surface mineralization has been leached by weathering. These results
suggest that better mineralization may be found at depth and along strike from the known
showings.
Aurora Geoscience Ltd. has recommended a Phase 2 program to test the geophysical targets with
1,400 metres of diamond drilling in 9 holes. In preparing the targets for follow -up drilling
Aurora have mapped the anomalous areas and where possible taken rock chip samples over the
best target areas. Assays are expected in about two weeks. The Mt. Anderson property is fully
permitted for diamond drill testing.
Mr. Arthur Troup, President and CEO of Apex states: “We are very pleased with the results of
this IP survey. These results have exceeded our best expectations. The survey confirms there is
strike extension to the Whirlwind Adit Zone and the Adanac Zone. The IP results have also
partially defined a large, strong and previously unknown target located northeast of the Adanac
Zone. The results support our belief that there is potential for finding a significant gold-silver
deposit on the Mt. Anderson property.”
The Mount Anderson exploration program is being conducted under the supervision of Ms.
Linda Dandy, P.Geo., Director. Linda Dandy, VP Exploration for Apex, has been working with
Carl Schulze, P. Geo, of A urora Geosciences Ltd., in planning the 2018 exploration program.
Ms. Dandy is a "Qualified Person" for the purpose of NI 43 -101 and has reviewed and approved
the contents of this news release.
About Apex Resources Inc.
Apex is a Canadian gold exploration and development company focused on British Columbia
and the Yukon Territories. Apex has a portfolio of quality properties including:
1. The Mount Anderson gold-silver property in the Yukon.
2. The Red Ridge gold-silver property in the Yukon.
3. The Cloud, Eldorado and Wild properties in BC's Golden Triangle.
4. The Kena-Daylight gold property in southern BC under option to Prize Mining Corp.
5. The Jersey-Emerald tungsten-zinc property in southern BC under option to Margaux
Resources Ltd
Apex management has a tra ck record of mine discovery that includes the discovery and
development of the renowned Hemlo Gold Mine in Ontario and the Mengapur copper -gold-
molybdenum por phyry deposit (225Mt @ 0.59% Cu equivalent) in Malaysia now under
development by Monument Mining Ltd.
For further information on the Company's projects, visit www.apxresources.com.
Arthur G. Troup, P.Eng., Geological
President and CEO
For further information please contact:
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: [email protected] or [email protected]
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.
PLEASE SEE MAPS ATTACHED BELOW