Gold Identified At Waterloo Project In Continuous Near Surface Horizon

VANCOUVER - Apollo Silver Corp. reported an update on its ongoing technical review of historic data at the Waterloo and Langtry projects in San Bernardino County, California. Recently this work has identified a 25 meter (m) thick, gold bearing horizon below silver mineralization. Silver mineralization transitions to gold-dominated mineralization at the variably faulted lithologic contact between Barstow formation sedimentary rocks and Pickhandle formation volcaniclastics. Gold mineralization at the district’s only historic gold producer, the Burcham Mine, occurs along this contact 250 m to the southeast. Apollo’s analysis of historic data has shown that not only does gold mineralization extend beyond the Burcham mine area, evidence suggests that at the Waterloo project the entire 2.2 kilometer (km) long contact between the Barstow sediments and Pickhandle volcaniclastics is prospective for gold mineralization.

“Our systematic approach to reviewing and validating the historic data is continuing to deliver significant value” CEO, Tom Peregoodoff, said. “We were aware of this historic gold production at the Burcham mine, however it is only recently and through this detailed review that we have come to understand the nature and extent of the host unit, and the potential for a significant gold discovery at Waterloo. This presents an exciting opportunity in that it substantially adds to the exploration potential of the properties and testing of this prospective horizon will form part of our upcoming 2022 drill program. With our pending maiden silver resource declaration for Waterloo and Langtry on track, 2022 is shaping up to be a very exciting year for Apollo.”