Apogee intersects high grade silver, up to 1,046 g/t silver, at Pulacayo Deposit, Bolivia
June 10, 2008, Toronto, Ontario -Apogee Minerals Ltd. (TSX Venture Exchange: APE) today announced it has received the assay results from an additional 24 diamond drill holes completed at the Pulacayo Deposit in southern Bolivia (Figure 1 & 2). Highlights include the following intercepts, complete results are listed in Table 1 below:
* PUD-081 – 20.75 meters grading 185.98 g/t silver, 0.75% lead and 2.49 % zinc
Including 8.5 meters grading 235.46 g/t silver, 0.91% lead and 4.37 % zinc
* PUD-084 – 14.00 meters grading 317.11 g/t silver, 0.30% lead and 1.13 % zinc
Including 4.15 meters grading 1,046.02 g/t silver, 0.58% lead and 2.65 % zinc
* PUD-088 – 23.80 meters grading 305.51 g/t silver, 1.70% lead and 3.39 % zinc
Including 7.80 meters grading 573.87 g/t silver, 2.97% lead and 3.07% zinc
* PUD-092 – 41.42 meters grading 212.60 g/t silver, 1.12% lead and 3.16 % zinc
Including 12.09 meters grading 355.41 g/t silver, 0.98% lead and 2.29 % zinc
* PUD-097 – 35.00 meters grading 215.55 g/t silver, 1.33% lead and 1.76 % zinc
Including 11.00 meters grading 351.00 g/t silver, 2.14% lead and 1.40 % zinc
* PUD-101 – 20.00 meters grading 316.83 g/t silver, 0.93% lead and 2.47 % zinc
Including 9.00 meters grading 475.89 g/t silver, 0.62% lead and 1.57 % zinc
According to David Gower, P.Geo., CEO of Apogee; “The drilling at Pulacayo continues to expand the mineralized zone and we continue to see good grades. An important characteristic of this deposit is that along with the high silver grades the mineralization contains a significant component of lead and zinc, which should provide an important contribution to the potential value of this deposit. The deposit remains open for further expansion along strike, however we will wind down the drill program in order to commence the resource estimate and economic evaluation of the part of the deposit that has been delineated to date. We expect the results of this drill campaign will add a significant new resource and increase the over all grade at the Pulacayo Paca project.”
Drilling for this phase of the program is winding down and further drill results will be released as they are received. Apogee has commenced an internal resource estimate, which will be completed when final assays have been received. The data will then be provided to an independent third party in order to validate a NI 43-101 resource estimate for the portion of the Pulacayo Deposit that has been drilled. This estimate will form the basis for completing an economic evaluation of the project.
The project is an option to joint venture with Apex Silver Mines Ltd. in which Apogee can earn up to a 60% interest in the Project (see press release dated 13/09/05) by completing a feasibility study. Under the agreement Apogee must complete 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 Dr. Fernando Tallarico P. Geo., 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.
For Further Information Contact:
Ana Lopes, Investor Relations – phone: (1) 416 861 5902
Email: info@apogeeminerals.com
Web: www.apogeeminerals.com
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 drill hole data on the existing resource estimate and the Company’s understanding of the Property. 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.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
