Apex Resources Receives NI 43-101 Technical Report Recommending Aggressive 2 Phase Exploration Program for its Mt. Anderson Gold Project, Yukon.
APEX RESOURCES INC.
Suite 2000 – 1066 West Hastings Street
Vancouver, B.C. V6E 3X2
www.apxresources.com
February 1, 2018 TSX Venture Exchange Symbol: APX
Apex Resources Receives NI 43-101 Technical Report Recommending
Aggressive 2 Phase Exploration Program for its Mt. Anderson Gold Project,
Yukon.
February 1, 2018, Vancouver, BC - Apex Resources Inc. ("Apex" or the "Company" )
(TSXV: APX) announces it has received an independent NI 43 -101 Technical Report for its
100% owned Mt. Anderson Gold -Silver Property located in southwestern Yukon Territory,
Canada. The report was prepared by Carl Schulze, P. Geo, of Aurora Geosciences L td.,
("Aurora") Whitehorse, Yukon, following the successful completion of the Company’s 2017
exploration program (see News Release dated October 11, 2017). The report recommends an
aggressive two phase exploration program: a $242,000 Phase 1 target definit ion program to be
followed by a $497,000 Phase 2 drilling program.
In the NI 43 -101 Technical Report, Aurora states that the property hosts numerous mineralized
zones:
the 47-Zone, consisting of vein-style high grade Au-Ag-Pb-Zn-Cu mineralization;
the Adanac Zone, comprising polymetallic vein and skarn mineralization;
the Ridge Zone, consisting of vein -style polymetallic precious and base metal
mineralization, and
the Rob and Fleming skarns, comprising Cu-Pb-Zn metasomatic mineralization.
Aurora reports that two main deposit setting models have influenced mineral emplacement at Mt.
Anderson. The first deposit model is intrusion -related mineralization, emanating from the Mt.
Anderson hornblende granodiorite. The second deposit model is hydrothermal mine ralization
associated with distal Eocene dyke emplacement originating from the Mount Skukum Volcanic
Complex to the west. The Rob and Fleming skarns belong to the intrusion -related model,
whereas the 47-Zone belongs to the Mount Skukum model whilst the Ada nac Zone represents a
hybrid of both settings.
The report recommends a two-phase exploration program for the Mount Anderson property. The
first phase will comprise surface exploration to develop diamond drilling targets, whilst a second
phase will comprise diamond drilling.
Phase 1 is recommended to focus on detailed geological mapping and rock geochemical
sampling of the 47 -Adanac Trend, extending beyond the Whirlwind Zone , and in the historic
Ridge Zone area. Induced Polarization (IP) chargeability/resistivity surveying and surface
magnetometer surveying are recommended to cover the 47 -Adanac Trend Area. Mechanized
trenching is recommended for the southern areas of this trend once an assessment of the surfic ial
geology has been completed.
Phase 2 will comprise a diamond drilling program of 1,400 metres in 9 holes. Location of theses
holes will be dependent upon the results from Phase 1. The main targets are expected to be the
47-Adanac Trend and the Ridge Z one, although other targets may be determined from the
surface work. Some upgrading of existing trails may also be warranted.
Proposed expenditures for Phase 1, are estimated at about CDN$242,000.
Phase 2 proposed expenditures, are estimated at CDN$497,000.
The NI 43-101 Technical Report will be filed on SEDAR.
About The Mt Anderson Property:
The earliest exploration within the Mount Anderson property took place from 1909 through
1918. Four short adits were excavated in the Whirlwind Zone area. A small bulk sample was
shipped and a small mill constructed, but no production records are available . In 1947, the Keno
Hill Mining Co. Ltd. shipped a small bulk sample which assayed 34.3 g/t gold (Au), 432 g/t
silver (Ag), 11.6% lead (Pb) and 5.3% zinc (Zn).
In 1968, the Adanac Mining and Exploration Company conducted bulldozer trenching and
exposed a 15 m by 0.9 m wide ore shoot, sampling of which returned average grades of 62.2 g/t
Au and 171.1 g/t Ag. Several other exploration programs included surface magnetometer
surveying and geological mapping which were conducted from 1971 to 1985. Noranda
Exploration Co. Ltd acquired the Tam claims , located within the current Mount Anderson
Property boundaries, in 1985 and conducted a 528.7 -metre diamond drilling program in seven
holes. The best assay result returned was 1.2 g/t Au and >200 g/t Ag across 0.8m.
In 1988, Total Erickson Resources Ltd. resampled historic underground workings and identified
15 mineralized ore shoots, from which sampling returned an average value of 7.5 g/t Au, 83 g/t
Ag, 3.3% Pb and 0.03% Zn over 1.3 m. From 1986 to 1992, the Add a Minerals Company
discovered and explored the “Ridge Zone”. Sampling here returned values up to 196 g/t Au and
468.75 g/t Ag. Adda also identified and sampled the Rob Skarn to the east, returning values up
to 7.068 g/t Au, 64.9 g/t Ag, 1.1% Cu and 4.5% Zn.
In 2011, Gold World Resources Inc. conducted an in tensive Mobile Metal Ion (MMI) soil
geochemical survey, and an airborne Total Magnetic Intensity (TMI) and radiometric survey.
Gold World also completed detailed rock sampling and extracted a mini -bulk sample from the
“47-Zone”. The MMI survey revealed several Au -Ag-Pb-Zn-Cu anomalies, as well as Pb -Cu-Zn
+/- Au anomalies, across the property. The TMI survey revealed a narrow, arcuate magnetic
“low” anomaly marking a fault zone, and coincident with the Whirlwind, 47 and Adanac zones.
The 435.7 kg mini -bulk sample returned a value of 14.3 g/t Au, 860.0 g/t Ag, 21.2% Pb, 8.42%
Zn and 0.50% Cu. No further activity was recorded until acquisition by Apex in early 2017.
In 2017 a due -diligence rock geochemic al sampling and detailed geological mapping program
was conducted by Aurora Geosciences Ltd., under contract to Apex Resources Ltd. The 2017
exploration program confirmed the presence of significant precious and base metal
mineralization at the 47 and Ada nac zones, and of patchy base metal mineralization at the Rob
and Fleming skarns.
1. Assay values from the 47 Zone ranged from background up to 67.5 g/t Au, 2,058 g/t Ag,
0.835% Cu, >10.0% Pb and 9.44% Zn.
2. Assay values from the Adanac Zone ranged from background up to 26 g/t Au, 725 g/t Ag,
1.64% Cu, >20.0% Pb and 0.389% Zn.
3. Assay values from the Rob and Fleming skarns were highly variable, ranging from
background up to 0.381 g/t Au, 4.0 g/t Ag, 0.1707% Cu and 1.22% Zn at the Rob Skarn,
and from background up to 6 ppb Au, 16.5 g/t Ag, 0.111% Cu, 134 ppm Pb and 2.24%
Zn at the Fleming Skarn.
4. Sampling in 2017, between the 47 and Adanac zones, returned contiguous anomalous
precious and base metal values, indic ating a mineralized trend, called the “47 -Adanac”
trend.
The Mount Anderson exploration program is being conducted under the supervision of Ms.
Linda Dandy, P.Geo., Director. Ms. Dandy is a "Qualified Person" for the purpose of NI 43 -101
and has reviewed and approved the contents of this news release.
Arthur Troup, Apex’s President and CEO stated , “This Technical Report summarizing all
current and historical property work has successfully identified t wo styles of mineralization in
six target areas. The comp ilation of this important historic data combined with the encouraging
results of our 2017 program is intriguing and will be extremely useful in generating targets for
our planned drill program.”
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 track record of mine discovery that includes the discovery and
development of the renowned Hemlo Gold Mine in Ontario . 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 capi tal 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 for ward-
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.