|
| |||||||||||||||
Apogee Continues to Expand High Grade Silver-Zinc-Lead Mineralization at Pulacayo, Bolivia Includes 35.0 meters grading 321.11 g/t Silver, 1.04 % Lead and 3.11 % Zinc in Hole PUD-051 TORONTO, ONTARIO--(MARKET WIRE)--Feb 14, 2008 -- Apogee Minerals Ltd. (CDNX:APE.V - News) has received assays for
an additional eight drill holes from its ongoing diamond
drilling program at the Pulacayo-Paca Silver-Lead-Zinc project
(Figure 1 & 2, Table 1). These intersections continue
to expand the thick, high grade zone of silver, zinc and
lead mineralization in the upper part of the Tajo Vein System
of the Pulacayo Silver Deposit (see press release dated
January 28 and January 8, 2008 for previous results). Highlights
include hole PUD-051 which intersected 35.0 meters grading
321.11 g/t Silver, 1.04 % Lead and 3.11 % Zinc within a
thick mineralized intersection of 96.0 meters grading 142.82
g/t Silver, 0.79 % Lead and 2.29 % Zinc. Drill Hole PUD-049
intersected 22.00 meters grading 180.36 g/t Silver, 0.86
% Lead and 4.74% Zinc also within a much thicker mineralized
interval. See Table 1 below for a summary of results for
the eight drill holes and Figure 2 for pierce point locations.
These are the final results to report for drilling completed
in late 2007. Drilling resumed on January 14 and an additional
4 drill holes (1,249 m) have been completed so far this
year. Assays are pending for the 2008 drill holes.
There are significant concentrations of lead and zinc associated with the silver mineralization that could contribute to the potential economic value of a resource. The Tajo Vein System has historical underground production of over 600 million ounces of silver from narrow, high bonanza grade veins and current drilling is targeting the near surface stock-work and vein mineralization between 0-400 meters depth, associated with this major silver-zinc-lead system. David Gower, P. Geo., Chief Executive Officer of Apogee, states "We are very excited by the results to date from the Pulacayo deposit drill program. We continue to intersect high silver grades with associated base metals over wide intervals. The program is designed for approximately 50 meters spacing between drill holes. With this spacing, each drill hole with good results will make a significant contribution to the resource estimate to be completed at the end of the drill program. As a result of these very encouraging drill results, the Company is evaluating options to expand and accelerate the drill campaign." Table 1: PUD049 to PUD056 significant intercepts. The widths represent core widths, true thickness is expected to be approximately 80% of the core width.
----------------------------------------------------------------------------
Inter-
Hole UTM-E UTM-N Azi- Ang- From To cept Ag Pb Zn
No (m) (m) muth le (m) (m) (m) (g/t) (%) (%)
----------------------------------------------------------------------------
PUD-049 740,199 7,744,450 019 -58 225.00 309.00 84.00 78.80 0.78 2.10
Incl. 236.00 248.00 12.00 183.33 2.81 1.78
Incl. 236.00 246.00 10.00 215.80 3.18 1.81
Incl. 263.00 309.00 46.00 92.24 0.59 2.90
Incl. 282.00 309.00 27.00 148.59 0.73 4.08
Incl. 287.00 309.00 22.00 180.86 0.86 4.74
Incl. 296.00 309.00 13.00 273.46 0.90 4.15
PUD-050 740,019 7,744,500 000 -21 67.00 94.00 27.00 41.15 1.26 1.23
Incl. 78.00 90.00 12.00 78.00 2.34 1.84
Incl. 78.00 84.00 6.00 112.83 3.23 0.76
PUD-051 740,199 7,744,425 000 -57 261.00 357.00 96.00 142.82 0.79 2.29
Incl. 316.00 351.00 35.00 321.11 1.04 3.11
Incl. 316.00 341.00 25.00 357.68 1.09 2.45
Incl. 326.00 341.00 15.00 543.20 1.35 1.58
PUD-052 740,075 7,744,530 000 -39 82.00 92.00 10.00 60.90 1.53 2.56
Incl. 85.00 90.00 5.00 119.60 2.92 4.51
And 135.00 151.00 16.00 43.00 0.83 2.06
Incl. 144.00 150.00 6.00 102.83 1.83 4.03
PUD-053 740,095 7,744,553 000 -40 95.00 124.00 29.00 51.14 1.24 2.68
Incl. 96.00 113.00 17.00 79.53 1.89 3.75
PUD-054 740,199 7,744,425 000 -63 403.00 408.00 5.00 424.40 0.07 1.51
PUD-055 740,095 7,744,468 000 -32 171.00 192.00 21.00 72.29 1.17 2.63
Incl. 179.00 190.00 11.00 125.73 1.86 3.65
PUD-056 740,284 7,744,506 005 -22 89.00 139.00 50.00 39.18 1.21 1.70
Incl. 112.00 116.00 4.00 118.25 1.78 2.91
Incl. 134.00 139.00 5.00 106.00 1.89 1.81
----------------------------------------------------------------------------The project is an option to joint venture with Andean Silver Corporation a wholly owned subsidiary of Apex Silver Mines Ltd. (Apex Silver) in which Apogee can earn up to a 60% interest in the Project by completing a feasibility study by July 30, 2009. Quality Control The Company employs a QA/QC protocol on all aspects of the analytical procedures. Core samples are sawn and one half of the NQ and HQ core is restored to the core box for future reference. One half of the core is sent for analysis. Samples are taken in approx. 1.0 meter intervals or less. Sample preparation is completed at the ALS Chemex preparation lab in Oruro, Bolivia and assayed at ALS Chemex in Lima, Peru, using multi-acid digest/ AAS technique, method ME-AA46 for Ag, Pb, Zn and Cu. A blank sample is inserted every 20th sample and standard samples representing a range of grades are inserted at intervals of 1 in 20 samples. Five percent of pulps are re-analyzed at ALS Chemex Lab in Lima, Peru. The Quality Control and all aspects of the exploration program are supervised by Apogee's Vice President of Exploration, Joaquin Merino and Mr. Merino has reviewed the technical information in this press release. This press release has been reviewed and approved by David Gower, P.Geo., CEO of Apogee and the qualified person as defined by National Instrument 43-101. About Apogee Minerals Apogee Minerals Ltd. is a Canadian producer of silver-zinc-lead and also carries out exploration and development activities. The Company is listed on the TSX Venture Exchange under the symbol APE. Apogee is focused on advanced silver-zinc-lead projects in South America that demonstrate the potential to be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia. The Company's 100%-owned La Solucion Mine has a 14 year production history and has a 120 tonne per day flotation mill. The Pulacayo-Paca project is an option to joint venture with Apex Silver Mines Ltd. The project occupies the property that includes the second-largest silver mine in the history of Bolivia with over 600 million ounces of past production. Forward Looking Statements This document may contain or refer to forward looking information based on current expectations, including, but not limited to, mineralization projections, estimates regarding the timing for resource modeling and the preparation of a 43-101 compliant technical report and the impact of additional drills on the progress of the program. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. These forward-looking statements are made as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. Figure 1: Pulacayo - Paca Project location map is available at the following web link: http://media3.marketwire.com/docs/ape0214map1.pdf. Figure 2: Vertical Longitudinal Section of the upper part of the Tajo Vein System, showing intersection locations is available at the following web link: http://media3.marketwire.com/docs/ape0214map2.pdf. The dotted line marks the projection of the San Leon adit.
Contact: Contacts:
Apogee Minerals Ltd.
Ana Lopes
Investor Relations
(416) 861-5902
Email: info@apogeeminerals.com
Website: http://www.apogeeminerals.com
Source: Apogee Minerals Ltd.
|  | ||||||||||||||
