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Thinkpad (AXcess News) Denver - Apollo Gold Corp. (AMEX: AGT) said its Timmins Canada-based Black Fox mine has yielded additional high-grade gold ore from the company's core drilling efforts that range from 1.38 ozto 3.29 oz Au/ton.
Buckey O'Neill, one of the canyons earliest residence, built his home in the early 1880's. He had a major role in convincing the mining company to build a railroad to the canyon to haul the ore. Since the ore was difficult to mine, the mining company went bankrupt and the railroad was not completed until 1901 by the Sante Fe Railroad Company.
Microsoft Apollo CEO and President, R. David Russell commented, "The Black Fox project continues to exceed our expectations with high grade gold intercepts as well as continued demonstration of continuity. The project remains the cornerstone ofthe Company and we believe that Black Fox will become a world-class miningoperation".
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Laptop Computers Highlights include (all true widths): 4.6 feet of 2.45 ounces gold per ton (oz Au/ton) in Hole 05BF-440, 6.8 feet of 1.38 oz Au/ton in Hole 235-210, 2.3 feet of 1.12 oz Au/ton in Hole 235-239, and 7.4 feet of 3.29 oz Au/ton in Hole 235-277.
Apollo CEO and President R. " grade gold intercepts as well as continued demonstration of continuity of the mineralized zones. class mining operation. 101 ore reserves report with a final report expected by the end of the first quarter 2006."
Laptop Computer The 2005 exploration program at Black Fox is expected to include additional underground and surface drilling in support of a full feasibility study that will update reserve calculations for both the open pit and underground deposits.
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Desktop Computer Pre-feasibility studies compiled in early 2004 credit the property with open pit gold reserves of over 3.2 million tons (2.95 million tonnes) with an average grade of 0.14 oz Au/ton (4.8 g Au/mt) for a total of 457,100 ounces of gold. Reserve tonnage figures are expected to increase significantly with the inclusion of subsequent drill results.
Notebooks In 2004 alone, Apollo completed a total of 315 core drill holes totaling 43,280 meters from surface and 41,065 meters from underground along a newly developed underground 920 meter long drill drift on the 235m level. The total drilling program through the second quarter of 2005 has been 754 core holes for a total of 200,561 meters.
Lenovo The Black Fox feasibility study and permitting are expected to be completed in 2006 with construction and initial production underway as early as 2007.
Hard Drive The Black Fox Project is located along the Destor-Porcupine Fault System within the Abitibi Greenstone Belt, a world-class mining district that has yielded over 75 million ounces of cumulative gold production from renowned mines such as the Dome, Hoyle Pond, Hollinger, Holt McDermott and Harker Holloway.
Travelstar Black Fox was acquired by Apollo in late 2002 during a period of depressed metal prices.
Gateway Shares of Apollo closed at 34 cents, down 1 cent, or 2.86 percent.
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