Apex Resources (TSXV: APX; US-OTC) has confirmed a 1.5 km by 150-metre gold in soil anomaly at its Ore Hill gold property near Salmo, B.C., after compiling historic and modern data on the project.
The database includes 90 rock samples taken by past operators between 2016 and 2018 grading as high as 119 grams per tonne gold and 105 grams gold. All but two of the samples were taken by the property’s last operator, Margaux Resources, during their 2017-2018 exploration season. 35 of the 90 samples graded at least 1 gram gold. Most contained significant silver mineralization along while some contained significant lead and zinc mineralization.
Highlights include 119 grams gold, 20.4 grams silver, 0.9% lead and 3.4% zinc; 60.2 grams gold, 53.2 grams silver, 1.5% lead and 0.3% zinc; and 48.1 grams gold, 58.4 grams silver, 3.8% lead and 2.5% zinc.
The company says its database shows that a lot of the high-grade samples come from a gold bear crackle zone, as wide as 10 metres, and associated with a north-northeast trending fault zone.
Ore Hill sits in the south end of the Sheep Creek gold district, which historically produced 785,000 oz. gold at 14.4 grams gold from multiple orogenic gold veins, making it the third largest past-producing orogenic gold district in British Columbia. Ore Hill itself historically produced 1,205 tons at 0.72 oz. per tonne gold, 1.01 oz. silver, 1.25% lead and 1.18% zinc from its Summit zone and 2,470 tons at 1.15 oz. gold, 2.19 oz. silver, 3.58% lead and 3.37% zinc from its Ore Hill zone.
Apex is in the process of permitting the property for further exploration in 2019.
Shares of Apex are currently trading at 8¢ with a 52-week range of 4¢ to 12¢. The company has a $1.13 million market capitalization. The company has 8 properties across B.C. and Yukon.
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