Vancouver – Mid-tier producer Apollo Gold (APG-T) saw continued high-grade gold intercepts from drilling on its wholly-owned Black Fox project, located just east of Matheson in northeastern Ontario.
Surface and underground drilling on the advanced-stage project continues to focus on defining additional reserves in conjunction with an ongoing feasibility study that is anticipated by Fall-2005. Recent results from the program include:
- Hole 235-187 The underground hole intersected 4.6 metres (from 168 metres depth) grading 15.5 grams gold per tonne;
- Hole 235-189 An intercept of 2.2 metres (from 166 metres) averaged 21.1 grams gold;
- Hole 235-191 A high-grade intersection assaying 61.8 grams gold over 1.3 metres was encountered at 184 metres depth.
Six diamond drills are active on the property, four underground and two surface rigs, and are expected to complete about 29,500-metres of underground drilling and 22,700 metres of coring from surface in the first half of 2005. The program is continuing with a 12.5-metre centre drill density, fulfilling reserve classification requirements. Total drilling to date by the company consists of about 167,000 metres of core.
Apollo Gold is looking at increasing previously calculated open pit proven and probable reserves, 3 million tonnes of 4.8 grams gold, through the expected addition of underground reserves. The company envisions a combined open pit and underground operation at Black Fox.
The deposit is located in the Abitibi Greenstone Belt, along the regional east-west trending Destor-Porcupine fault. This mineralized belt hosts a score of both operating and historic mines that have produced in excess of 70 million ounces of gold in the Timmins camp.
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