Apollo Gold (APG-T) has hit significant base metal and silver in its base metal zone at the Black Fox project, 75 km east of Timmins, and 8 km east of Matheson, Ont.
The latest drilling is highlighted by one hole (406) which cut 54 ft. (true width) grading 12.5 % zinc, 1.9 oz. silver per ton and 3.8% lead.
A second hole, fanned from this one, hit three zones of mineralization, the most significant being 25.5 ft. wide (true width) and grading 9% zinc, 0.26 oz. silver and 0.5% lead.
Hole 400 (located 40 ft. south and 30 ft. east of hole 406) cut a true width of 15.3 ft. grading 1.47 oz. silver per ton, 5.5% lead and 8.3% zinc. This was the best zone from a total of three that were cut in this hole (30 ft. further downhole a 15-ft. true-width intercept graded 4.37% zinc).
Two other holes were fanned from the same setup. They each cut two zones of mineralization. Hole 399, drilled at a shallower angle than 400, cut up to 19.4 ft. (true width) which graded 9.3% zinc, 0.84 oz. silver per ton and 1.86% lead.
The base metal zone is in the footwall of the Destor-Porcupine fault system. It was found last year, following new geological and geophysical interpretation in the area.
Additional drilling is planned.
Until base metals were found, the Black Fox project was focused on defining gold reserves. Consulting firm AMEC Americas is assisting with the completion of a feasibility study for the Black Fox gold project, which should be completed by the middle of this year.
In early 2004, the proven and probable open-pit reserves stood at 3.26 million tons grading 0.14 oz gold per ton, or 2.95 million tonnes grading 4.8 grams gold per tonne.
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