Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX VENTURE: APE)
reports assay results from seven additional diamond drill holes
from the ongoing drill campaign at the Pulacayo deposit located in
southwest Bolivia. (See Table 1 below). All of the reported holes
were drilled from surface.
The highlights from these holes include:
-- DDH PUD 162 intersected 2.64 meters grading 144.11 g/t Ag, 0.01% Pb,
0.07% Zn
-- DDH PUD 163 intersected 8.84 meters grading 235.24 g/t silver, 0.13%
lead and 0.86% zinc within an 18.0 meter interval grading 117.48 g/t
silver, 0.10% lead and 0.67% zinc.
-- DDH PUD 169 intersected 8.00 meters grading 413.25 g/t silver, 0.20%
lead and 0.01 % zinc within a 12.0 meter interval grading 301.75 g/t
silver, 0.17% lead and 0.01% zinc.
The holes were drilled to continue delineation of the deposit
along strike east of the previously released National Instrument
43-101 ("NI 43-101") resource. Diamond drilling, undertaken in
2010, successfully extended the deposit an additional 350 meters
east of the current resources. (See Press Releases dated January
15th 2010, March 15th 2010, April 19th 2010, July 13th 2010, August
9th 2010, September 20th 2010, January 18th 2011 and the NI 43-101
technical report dated December 2008 and filed under the SEDAR
profile of the Company at www.sedar.com). The Company has now
completed a total of thirty-three drill holes in the area east of
the previously released NI 43-101 resource (See Figure 2 and 3
below).
Chris Collins, P. Geo., President of Apogee states, "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 meters 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 in-fill in the
area between PUD 169 and the drilling completed throughout 2010
(See figure 2 and 3 below). We have a third drill rig scheduled to
commence in early March which will accelerate this process."
To view Table 1: Summary of Significant Intercepts, please visit
the following link:
http://media3.marketwire.com/docs/ape0224tab1.pdf.
The Pulacayo Deposit is a thick east-west striking zone of
conjugate veins, stockwork and disseminated sulphides that locally
are up to 200 meters thick with a higher grade core that comprises
the resource and may locally exceed 60 meters in thickness. The
known strike length of the Tajo Vein System which hosts the
Pulacayo deposit is close to 3 kilometers and it remains open at
both ends along strike (Figure 2). Mineralization comprises
sphalerite, galena and tetrahedrite in sulphide-rich veins ranging
from a few centimeters to greater than one meter thick and heavily
disseminated sphalerite, galena and tetrahedrite between the
veins.
Quality Control
The Company employs a quality assurance/quality control protocol
on all aspects of the diamond drilling, sampling and analytical
procedures. The Quality Control and all aspects of the exploration
program are supervised by Apogee's Vice President of Exploration,
Joaquin Merino, P. Geo, a qualified person as defined by NI 43-101.
Mr. Merino has reviewed and approved the scientific and technical
information presented in this press release.
For detailed project information please refer to Apogee's web
site at www.apogeeminerals.com.
This release has been reviewed and approved by Chris Collins, P.
Geo., President of Apogee and a qualified person as defined by NI
43-101.
About Apogee Minerals Limited
Apogee Minerals Ltd. is a mineral exploration and development
stage company listed on the TSX Venture Exchange under the symbol
APE. Apogee targets advanced silver-zinc-lead projects in South
America that demonstrate potential to be developed to production.
Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.
Its most advanced project is the 100% owned Pulacayo-Paca
project in Bolivia, This project includes the property that covered
the second-largest silver mine in the history of Bolivia with over
600 million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press
release contains "forward-looking information" within the meaning
of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with
respect to the impact of the appointment on the Company, future
financial or operating performance of the Company, its subsidiaries
and its projects, the development of the Pulacayo-Paca project, and
statements regarding exploration prospects. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the
actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral prices; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and, delays
in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
On Behalf of the Board,
G. Scott Paterson, Chairman
To view Figure 1: Pulacayo Project Location Map, please visit
the following link:
http://media3.marketwire.com/docs/ape0224fig1.pdf.
To view Figure 2: Tajo Vein System, Plan View, please visit the
following link:
http://media3.marketwire.com/docs/ape0224fig2.pdf.
To view Figure 3: Vertical Longitudinal Section Pulacayo
Deposit, please visit the following link:
http://media3.marketwire.com/docs/ape0224fig3.pdf.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Apogee Minerals Ltd. Marilia Bento Vice President
Corporate Development +1 (416) 309-2139 mbento@apogeeminerals.com
Apogee Minerals Ltd. G. Scott Paterson Chairman of the Board +1
(416) 368-6464 spaterson@JumpTVInc.com www.apogeeminerals.com
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