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Resource Clips


Posts tagged ‘Apogee Minerals Ltd (APE)’

Apogee reports Bolivia Silver Assays up to 129 g/t over 30m

January 30th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningApogee Silver Ltd TSXV:APE announced results from its Pulacayo deposit in southwest Bolivia. Assays include

79.3 g/t silver over 20.8 metres (including 119.7 g/t over 9 metres)
129 g/t over 30 metres
130 g/t over 9 metres
186.7 g/t over 6 metres
67.2 g/t over 19 metres
50.2 g/t over 23 metres (including 109.3 g/t over 6 metres)

President Chris Collins said, “We are very excited by the first set of assay results from the silver-oxide diamond drilling program at Pulacayo. These results confirm that the extensive silver-lead-zinc mineralization associated with the main Veto Tajo Structure at the Pulacayo Deposit continues through the oxide zone to the surface. These results coupled with positive results from oxide zone metallurgical testing undertaken last year offer excellent potential for a significant increase in silver ounces in resources at Pulacayo with the addition of oxide-zone mineralization. A further potential benefit is that oxide-zone mineralization would generally be amenable to lower cost mining and leaching methods.”

View Company Profile

Contact:
Marilia Bento
VP Corporate Development
416.309.2694

or G. Scott Paterson
Chairman of the Board
416.368.6464

by Ted Niles

Apogee reports Bolivia Silver assays including 664 g/t over 2m

December 22nd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningApogee Silver Ltd TSXV:APE announced assays from its Pulacayo deposit in southwest Bolivia. Results include

291 g/t silver over 1 metre
254.5 g/t over 2 metres
411.7 g/t over 3 metres
515 g/t over 3 metres
462.9 g/t over 2.9 metres
613.5 g/t over 2 metres
664 g/t over 2 metres

CEO Neil Ringdahl remarked, “The results of our exploration initiatives continue to encourage and these results to the east reinforce our belief in the potential to develop profitable mining on a second front, lending weight to the theory that large production can be achieved through several independent underground sections. Currently the company continues with its trial mining program and development of underground infrastructure in the central or San Leon area for commercial production later in 2012.”

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Read more about Apogee Silver

Contact:
Marilia Bento
VP Corporate Development
416.309.2694

or G. Scott Paterson
Chairman
416.368.6464

by Ted Niles

Steady As She Goes

December 13th, 2011

Apogee Nears Bolivian Silver Production

By Greg Klein

Trial mining at Apogee Silver’s TSX:APE underground Pulacayo Silver-Lead-Zinc Project in Bolivia began in October. That same month, a resource update revealed an additional 133% silver ounces indicated and 38% inferred from June 2010. The indicated category showed a 92% increase in silver grade, while inferred came in with a 53% increase. CEO Neil Ringdahl is pleased with the progress but determined to concentrate on the long term. “We’re going slowly because we’re training the local community to become miners,” he explains.

Ringdahl continues, “We want to make sure we’re working safely. So we’re taking it easy, and we’ll continue to do so until the guys are more comfortable with the procedures. But it’s interesting that their parents and grandparents were mining 50 years ago.”

Apogee Nears Bolivian Silver Production

In its time Pulacayo was big, the second-biggest silver mine in Bolivian history, producing over 600 million ounces. Ringdahl hopes to revive at least some of that past glory, pointing to the October update as evidence.

The indicated category estimates 5.96 million tonnes grading 153.14 grams per tonne silver for 29.34 million ounces silver, 0.91% lead for 119.57 million pounds lead and 2.04% zinc for 268.05 million pounds zinc. The inferred category estimates 5.42 million tonnes grading 150.61 g/t silver for 26.24 million ounces , 0.83% lead for 99.18 million pounds and 2.07% zinc for 247.35 million pounds.

“This mine is sitting on a very big resource, and there’s a lot of exploration upside still to come,” says Ringdahl. “Once we get this started it’s going to run for a very, very long time.” The company plans another resource update by 2Q 2012 before going into feasibility. Key to the new project will be the pilot plant and concentrator, planned for commissioning in 4Q 2012.

“It’ll be a 400-tonne-per-day plant, but it’s very exciting that the high grades will let us move up our production quite significantly,” he says. “We might be able to get a million ounces a year from the pilot plant, although we’re not committing to that. Once our concentrator is commissioned, we’ll do commercial mining. The revenues will be used for ongoing expansion of the plant and the mine.” For now, the project is stockpiling ore, having accumulated over 500 tonnes so far.

Some eight kilometres away lies the open-pittable Paca Deposit with a 2007 inferred resource of 18.4 million tonnes grading 43 g/t silver for 25.5 million ounces. “Paca will probably be Phase II,” Ringdahl reports. “Phase I is to get the underground mine running at Pulacayo and, as we expand, we’ll gain additional ounces from an open pit at Paca.”

Farther south, across the Chile border, sits Apogee’s Cachinal Project. Its 2009 open-pit and underground resource estimates an indicated category of 5.66 million tonnes grading 101 g/t silver for 18.41 million ounces silver, 0.13 g/t gold for 24,030 ounces gold and 0.22% zinc for 27.72 million pounds zinc. The inferred category estimates 820,000 tonnes grading 115 g/t silver for 3.02 million silver ounces, 0.12 g/t gold for 3,260 ounces gold and 0.22% zinc for 4.03 million pounds zinc.

This mine is sitting on a very big resource, and there’s a lot of exploration upside still to come. Once we get this started it’s going to run for a very, very long time —Neil Ringdahl

“Cachinal has significant potential on strike and at depth and average grades of about 100 grams a tonne, but it was historically mined at much higher grades,” Ringdahl says. “An open pit could potentially produce one to two million ounces a year.” Apogee currently holds an 80% interest, with Valencia Ventures TSX:VVI holding the rest. “I don’t know if that 20% will be up for grabs, but it’s something we’d like to take on,” he says.

Although Apogee holds a 100% interest in its Bolivian projects, it has a 1.5% royalty agreement with a local cooperative and 2.5% royalty with the state-owned mining company, Corporación Minera de Bolivia (COMIBOL). Bolivian political rhetoric has included talk of a euphemistic “recovery” or nationalization of mines. Ringdahl comments, “As part of the community, the cooperatives support mining, as does the state. The country is looking for partners to contribute to the capital, technology and human resources to bring new development to the mining sector. The remarks that [President Evo Morales] have made recently have been very, very encouraging for mining companies.”

Ringdahl points out that three new Bolivian mines that have begun production since 2007: Sumitomo’s $1.3-billion San Cristobal Silver-Zinc Mine, Pan American’s TSX:PAA $72-million San Vicente Silver-Zinc Mine and Apogee-shareholder Coeur d’Alene’s TSX:CDM $238-million San Bartolomé Silver Mine.

As Apogee makes the transition from explorer to miner, Ringdahl is primed for the challenge. “I’m a mining engineer by trade, and I have 17 years’ experience building mines around the world. I came on because the board was looking for someone who could take the company into production,” he points out.

“We have a multinational crew on the ground—good guys from several countries who know their field. We’ve spent a lot of time getting the right guys. Our chairman, Scott Paterson, specializes in marketing and raising finances and has lots of contacts throughout North America,” he adds. “Director Stan Bharti is CEO of Forbes & Manhattan, the merchant bank that backs a number of juniors. They’re one of our shareholders, and for a small fee we have access to their top-notch legal and technical services.

“So we’re a junior with all the benefits of a large company. That definitely gives us an edge,” Ringdahl says.

At press time Apogee had 292.6 million shares outstanding at $0.16 for a market cap of $46.8 million.

Apogee reports Bolivia Silver Assays including 3,163 g/t over 2m

April 5th, 2011

Apogee Silver Ltd TSXV:APE announced assays from its Pulcayo Deposit in southwest Bolivia. Results include 32.93 g/t silver over 15 metres, 212 g/t over 4 metres, 3,163 g/t over 2 metres, 23.46 g/t over 11 metres, 584.47 g/t over 4.4 metres (including 1,400 g/t over 1 metre), 47.6 g/t over 10 metres, 226.29 g/t over 7 metres and 109.47 g/t over 5.1 metres (including 243 g/t over 1.1 metres).

President Chris Collins commented, “We remain very encouraged by the latest results from the ongoing drilling program at Pulacayo. We continue to encounter excellent silver grades over significant widths. Our near term focus will be on completing the delineation drilling in the area east of the current resources to a sufficient level of detail to support a revised NI 43-101 resource estimate. Three drills are currently working in this area. In addition a fourth diamond drill rig has been contracted and will be mobilized to the property in early April. The fourth drill rig, an LM 90, is capable of testing the deposit where it remains open at greater depth and open along strike to the west. We expect this fourth drill to start drilling in the area along strike, west of the deposit by mid-April.”

View Company Profile

Contact:
G. Scott Paterson
Chairman
416.368.6464

or Marilia Bento
VP Corporate Development
416.309.2694

by Ted Niles

Apogee reports Bolivia Silver Assays up to 144.11 g/t over 2.6m

February 24th, 2011

Apogee Minerals Ltd TSXV:APE announced results from its Pulacayo Deposit in southwest Bolivia. Assays include 144.11 g/t silver over 2.6 metres, 117.48 g/t over 18 metres (including 235.24 g/t over 8.8 metres) and 301.75 g/t over 12 metres (including 413.25 g/t over 8 metres).

President Chris Collins said, “We are very encouraged by the latest results from the ongoing drilling program at Pulacayo. In particular with DDH PUD 169 which was a very aggressive step-out, approximately 300 metres along strike east of our previous drilling, and we were rewarded with a high grade silver intercept. Our focus in the near term will now be to infill in the area between PUD 169 and the drilling completed throughout 2010. We have a third drill rig scheduled to commence in early March which will accelerate this process.”

View Company Profile

Contact:
Marilia Bento
VP Corporate Development
416.309.2139

or G. Scott Paterson
Chairman of the Board
416.368.6464

by Ted Niles

Apogee reports Bolivia Silver Assays up to 74.65 g/t over 37m

January 18th, 2011

Apogee Minerals Ltd APE:CA announced results from its Pulacayo Deposit in southwest Bolivia. Assays include 74.65 g/t silver over 37 metres (including 420.88 g/t over 2.4 metres), 127.13 g/t over 10 metres, 342.82 g/t over 34 metres (including 1,568.2 g/t over 5 metres) and 59.55 g/t over 15 metres (including 69.97 g/t over 9.7 metres).

President Chris Collins stated, “We continue to be very excited by the results from our ongoing drilling which has expanded the deposit to the east. Delineation drilling of the east extension of the deposit indicates good continuity. The grades and widths of the drill intersections encountered in this area are comparable to the grades and widths observed in the area comprising the resource. We are confident that the drilling in this area will result in a significant addition to the previously estimated mineral resource and expect this will further enhance development potential of the deposit.”

View Company Profile

Contact:
Marilia Bento
VP Corporate Development
416.309.2139

or G. Scott Paterson
Chairman of the Board
416.368.6464

by Ted Niles