Drill Permit For Waterloo Project In California

VANCOUVER - Apollo Silver Corp. has received its Conditional Temporary Use Permit from the County of San Bernardino authorizing the 2022 proposed drilling activities at the Waterloo Silver-Barite Project.

“2022 will be a defining year for the Company,” CEO, Tom Peregoodoff, commented. “Our maiden resource estimation work program at the Waterloo and Langtry silver-barite projects is well advanced with results expected in the first quarter of 2022. With the receipt of the Drill Permit from the County, we are well placed to deliver against the stated objectives of our 2022 proposed drill program. The permit took less than six weeks to process and issue and I believe this is indicative of the supportive view of mining activities within the County and the relationship we are building with key stakeholders.”

The County issued Drill Permit is effective from February 1, 2022, for a one-year period, subject to annual renewal by written request for up to five years. The Drill Permit is subject to a number of conditions as provided by the County, one of which is the submission of a required reclamation bond totaling US$113,757, which has been posted by Apollo. The Drill Permit as granted allows as much flexibility in the final drill program design as possible.

The on-the-ground technical program at the Waterloo and Langtry projects began mid-November with a rolling three-dimensional (“3D”) ground induced polarization (“IP”) and resistivity survey. The ground IP survey is being conducted across both the Waterloo and Langtry properties (covering 16 km2) by Dias Geophysical of Saskatoon, Saskatchewan, Canada. The goal of the survey is to provide a detailed 3D model of chargeability and resistivity across the projects to discern important structural and lithological features and identify possible extensions to mineralization down to a depth of 400 m. At time of writing the survey was complete at Waterloo, with Langtry anticipated to be finished in late January 2022. Preliminary results of the 3D inversion of Waterloo are expected to be made available in January. Results from the complete survey will be incorporated into the definition of the 2022 drill program.

Detailed geological field mapping was recently completed by Dr. Warren Pratt, a renowned geologist with over 30 years experience exploring and mapping mineralized systems worldwide. His work was focused on the Langtry project which had never before been mapped in detail. Follow up work was completed at Waterloo where he previously completed detailed mapping for the previous operator Pan American Minerals (a wholly-owned subsidiary of Pan American Silver Corp.), in 2008 and 2012. This is the first time that both Langtry and Waterloo have been mapped simultaneously and will allow for a better understanding of the underlying mineral system in the broader context. The results of Dr. Pratt’s work will be incorporated into 3D geology models and will be part of the foundational work of the maiden resource estimate currently being undertaken by Stantec.