Silver Elephant

Apogee Expands Land Position at Buena Vista Gold-Silver-Zinc Project – Signs Agreement to Acquire Adjoining Leoplan Property

Skip to main contentSkip to toolbar
About WordPress
Prophecy Development Corp
11 Plugin Update
New
View Post
Gallery
Howdy, admin
Log Out
Edit Post

Switch to Draft
Preview(opens in a new tab)
Update

Add title
Apogee Expands Land Position at Buena Vista Gold-Silver-Zinc Project – Signs Agreement to Acquire Adjoining Leoplan Property
Type text or HTML
Signs Agreement to Acquire Adjoining Leoplan Property

TORONTO, ON March 13, 2006 Apogee Minerals Ltd. (TSX Venture Exchange: APE) has completed an agreement to acquire a 75% interest in the Leoplan Property which adjoins the southeastern boundary of Apogee’s Buena Vista Gold-Silver-Zinc Project from EMUSA, a private Bolivian mining company.

The 44 hectare Leoplan concession covers approximately 1,000 meters of strike extension of the Buena Vista vein system where Apogee has intersected high grade mineralization within surface trenches and diamond drilling (See Apogee Press Releases dated November 14, 2005, August 25, 2005 and June 23, 2005).

Geological mapping and trenching has traced the volcanic hosted mineralized vein system in a southeasterly direction to the current property boundary (Figure 1). The Leoplan vein is known to host a high grade antimony-silver mine which has small production at present.

Exploration completed to date by Apogee on the Buena Vista concession, including underground channel sampling, surface trenching and diamond drilling shows that gold content associated with silver in the vein increases in a southeasterly direction and it is hoped that there is a gold association with the silver-antimony mineralization on the Leoplan vein. Apogee has not yet sampled the Leoplan workings.

Mr. John Carlesso, Apogee’s President and CEO commented, “This agreement with EMUSA will enable Apogee to continue exploration of the Buena Vista vein system to the southeast in what appears to be the continuation of a very interesting zone of mineralization. Sampling of the Leoplan mine workings will commence during the next few weeks.”

To earn a 75% interest in the project, Apogee will: (i) issue 100,000 shares to EMUSA on execution of the definitive agreement, (ii) spend US$250,000 on exploration within two years, with a minimum of US$100,000 in the first 12 months, (iii) issue 100,000 shares and pay US$50,000 on or before the 12 month anniversary of the agreement, and (iv) issue 300,000 shares and pay US$100,000 on or before the 24 month anniversary of the agreement. The agreement remains subject to regulatory approval.

Building A Premier Emerging Silver Producer

Apogee Minerals Ltd. is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company is focused on advanced Silver-Zinc projects in South America that demonstrate the potential to receive capital investment and be rapidly developed to production. Currently all of its projects are located in the historic silver producing regions of central and southwest Bolivia.

This press release is available on the company’s official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit www.agoracom.com/IR/Apogee. Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly.

For further information contact:
John Carlesso
President and C.E.O.
(416) 861-5881

Regulatory Footnotes:

Mr. Douglas A. Currie, MAusIMM, Apogee’s Vice President-Exploration, is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada; ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes.

Samples are transported from field projects to the ALS Chemex sample preparation facility in Oruru, Bolivia, by Company personnel or a reputable commercial carrier. All analytical testing is performed utilizing a variety of industry standard analytical techniques, including: (i) ALS Analytical Code ME-MS41 – 50 element analysis using aquaregia digest and ICPAES analysis, (ii) ALS Analytical Code AA46 & AA62 – specific element analysis using aquaregia digest and AAS determination (Ag, Zn, Pb, Cu, As) and, (iii) Analytical Code Au-AA26 – Gold using a 50g Fire Assay-AAS finish.

All diamond drill core is geologically logged and sampled by Company geologists then is cut in half using a diamond saw and sampled in one(1) meter sample intervals; the archive portion of the sample is securely stored at each project site. The Company has initiated a QA/QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks and routinely repeats sample analysis.

Statements in this release that are not historical facts are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these “forward-looking statements”.

Toggle panel: Yoast SEO
Toggle panel: Custom Fields
Open publish panel
Document
Block

Status & Visibility
Visibility
Public
Publish
Mar 13, 2006 2:09 am
Stick to the top of the blog
Author

Custom Permalink
Enable AMP

Move to trash
3 Revisions

Permalink
URL Slug
apogee-expands-land-position-at-buena-vista-gold-silver-zinc-project-signs-agreement-to-acquire-adjoining-leoplan-property
The last part of the URL. Read about permalinks(opens in a new tab)

Preview

https://www.silverelef.com/apogee-expands-land-position-at-buena-vista-gold-silver-zinc-project-signs-agreement-to-acquire-adjoining-leoplan-property/(opens in a new tab)