Apollo Silver's Calico Project Shows Major Resource Boost, Adds Critical Minerals
Apollo Silver Corp. has released an updated Mineral Resource Estimate (MRE) for the Calico Silver Project, prepared by Micon International Limited. The report, available on SEDAR+ and the company's website, shows promising increases in silver and gold prices, along with the addition of two new critical minerals.
The MRE indicates a robust silver price, with a combined Measured and Indicated total of 55 million tonnes grading 71 grams per tonne silver, amounting to 125 million ounces. Notably, the Inferred category now includes 0.6 million tonnes at 26 grams per tonne silver, totalling 0.51 million ounces. Gold prices have also seen a significant boost, increasing by 86% to 17 million tonnes at 0.25 grams per tonne gold, containing 0.13 million ounces.
The project's economics have been strengthened by the discovery of barite and zinc resources. Indicated resources stand at 36 million tonnes, grading 7.4% BaSO4 and 0.45% Zn, containing 2.7 million tonnes of BaSO4 and 354 million pounds of Zn. Inferred resources total 17 million tonnes, grading 3.9% BaSO4 and 0.71% Zn, containing 0.65 million tonnes of BaSO4 and 258 million pounds of Zn. Additionally, the updated Langtry MRE includes 24 million tonnes grading 73 g/t Ag, totalling 57 million ounces.
The updated MRE demonstrates the Calico Silver Project's potential, with increased silver and gold prices, the addition of two new critical minerals, and a low strip ratio of 0.8:1 for a single pit at the Waterloo deposit. These factors collectively derisk the project, positioning Apollo Silver Corp. for further progress in the mining sector.
