Apollo Gold (AGT)

[GULFCOASTROB]

Apollo hits more gold at Grey Fox property
Posted By RICK OWEN, NORTHERN NEWS
Posted 8 hours ago

I REALLY HOPED WE WOULD HAVE GOTTEN ALOT MORE BANG FOR ORE OUT OF THIS PR TODAY

http://www.northernnews.ca/ArticleDisplay.aspx?archive=true&e=2135848


Apollo Gold Corporation continues to intersect multiple zones of gold mineralization as it drills the company's Grey Fox property.

The company started the current drill campaign in August and to date has completed 28 holes. The results of the first seven holes show multiple mineralized zones and individual one metre samples have intercepted high grade gold from 12 to 277 grams gold per tonne or 0.35 ounces to 8.08 ounces gold per ton.

The Grey Fox property is located 3.5 kilometres southeast of Apollo's Black Fox Mine, which started gold production in may. In total Apollo owns a 6.5 land package consisting of the Black Fox Mine, the Pike River Property located southeast of the Black Fox and Grey Fox property located southeast of the Pike River property.

The current drill program is a follow up on 16 holes completed by Apollo in 2008. The first program was successful in intersecting gold mineralization in rocks similar to the host rocks of the Black Fox Deposit and included a high-grade assay of 544 grams gold per tonne over 3.5 metres or 13.27 ounces gold per ton.

The first seven holes of the 2009 program are generally clustered down dip and along strike of the high-grade zone identified in 2008 and show continuity to the 16 hole-drilling program completed last year.

"We are very pleased with the drilling results so far. It is very favourable to find multiple mineralized zones like this at a relatively shallow depth, for example GF09-23, which is an exceptional drill hole, with five separate mineralized zones at a depth of less than 100 metres," said Richard Nanna, Vice President Exploration for Apollo. "In addition to these seven holes and the 16 holes from last year, we are awaiting results of a further 21 holes drilled in 2009, all of which have been drilled in the area, with the objective of raising results to a measured and indicated resource status by the end of the first quarter of 2010. The mineralization is also trending onto our newly acquired Pike River property, which adds to the potential of expanding any resources. The drilling at Grey Fox is ongoing."

Some of the other assays from the 2009 drill program include; 6.27 metres grading 5.39 grams gold per tonne, 0.54 metres returning 15.57 grams gold per tonne, 2.69 metres assaying 4.66 grams gold per tonne, 0.91 metres returning 8.43 grams per tonne, 6.86 metres intersecting 6.47 grams gold per tonne, 10.90 metres hitting 7.82 grams gold per tonne, 2.97 metres assaying 8.82 grams gold per tonne and 4.85 metres intersecting 6.93 grams gold per tone.