Apollo Gold Commences Grey Fox 2009 Drilling Program
DENVER--(BUSINESS WIRE)--Apollo Gold Corporation ("Apollo") (TSX: APG - News) (NYSE Amex: AGT) is pleased to announce that on August 10, 2009 it commenced the 2009 drilling program on its Grey Fox project and to date three holes have been completed.
The Grey Fox project sits along the Destor Porcupine Fault Zone (DPFZ) in the Timmins Mining District of Ontario which has produced over 70 million ounces of gold and is located about 3.5 kilometers southeast of Apollo’s Black Fox mine.
The initial drilling program completed by Apollo in 2008 was successful in intersecting gold mineralization in rocks similar to the host rocks of the Black Fox ore deposit on the DPFZ and verified, in-filled and expanded historic drilling results on the “Contact Zone,” which is a north-south structure in the DPFZ hanging wall. The 2008 drilling program also hit very high grade gold mineralization in a silicified breccia associated with the “Contact Zone.” This high grade “Calcite Zone” is unique, with a late stage gold-calcite mineralizing event and may represent a shoot formed at a structural intersection. Complete drilling results from the 2008 drilling program are available on our website.
The current drilling program consist of two objectives 1) drilling the “Contact Zone” to a measured and indicated resource status and to explore in detail the “Calcite Zone,” and 2) expanding the DPFZ along strike and down dip and expanding the “Contact Zone” down dip and along strike.
This press release has been reviewed and approved for release by Richard F. Nanna, Professional Geologist, Apollo's Senior Vice-President, Exploration and Development and designated “Qualified Person” under NI 43-101.
Apollo Gold Corporation
Apollo is a gold mining and exploration company that owns and operates the Black Fox mine in Ontario, Canada and owns a 50 percent interest in a joint-venture with Elkhorn Tunnels, LLC at the Montana Tunnels Mine near Helena, Montana. The Montana Tunnels Mine is currently on care and maintenance. Apollo also owns an 80 percent interest in the Huizopa Project joint venture, (20 percent Minas De Coronado, S. de R.L. de C.V.), an early stage exploration project in the Sierra Madres in Chihuahua, Mexico.
FORWARD-LOOKING STATEMENTS
Buy cheap, undiscovered stocks!
Disclosure: I usually own the stocks I post the most. The more I discuss, the more shares I own. Do you own DD before placing the trades.
Please post stock symbols first in all your posts.
