Apollo Silver Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

Apollo Silver is a TSX-V listed company which controls the US’s third largest advanced pure silver resource at its Calico Silver Project. Recently Apollo announced an updated mineral resource of 110 million ounces of silver in Measured and Indicated categories with an additional 51 million ounces of silver in the Inferred category at Calico. In addition to advancing Calico toward development, Apollo Silver Corp. is advancing its Cinco de Mayo Project, in Chihuahua Mexico.

Investment Highlights

Two Significant Projects Located in Pro-mining Jurisdictions

The Calico Silver Project (“Calico Project”) occupies private land in mining friendly San Bernardino County, USA where US$60 Billion of mineral reserves have been permitted in the last 15 years

Recently optioned district scale Cinco de Mayo Project (“Cinco de Mayo”) located in Chihuahua, Mexico along continental trend of globally significant silver mines and deposits

Large Mineral Inventory with Expansion Potential

Calico Project – 110Moz Ag of M&I resources plus 51Moz Ag inferred resources making it one of the largest primary silver deposits in the US

Cinco de Mayo Project has a historical inferred resource of 154Moz high-grade AgEq at 386 g/t AgEq

Corporate Highlights

Highly experienced team with capital raising, marketing, and technical expertise

Executive team has been involved in over $5B of M&A activity

Strong support from institutional investors

Robust treasury position to advance portfolio of projects

Upcoming Value Driving Catalysts

Resource estimate for critical elements at Calico Project

Active and ongoing engagement with local community to restore social license and project access at Cinco de Mayo

Cinco de Mayo mineral resource update

Follow up work to confirm potential large discovery at Cinco de Mayo

Projects in Hand

PROJECTS IN HAND

(1) Calico Project, USA

The Calico Project is well-placed relative to infrastructure and is located in the mining-friendly jurisdiction of San Bernardino County, California. The Project comprises the adjacent Waterloo and Langtry properties, which total 2,950 acres. The Project is 15 kilometres (9 miles) from the city of Barstow and has an extensive private gravel road network spanning the property. There is commercial electric power within 5 kilometres (3 miles) of the Project.

Other mines of note in the region include SV Minerals Searles Lake Boron project, MP Materials Mountain Pass rare earth element mine and Equinox Gold’s Castle Mountain gold mine. Rio Tinto’s Boron mine is near the border with San Bernardino County, in Kern County.

Waterloo Property

The Waterloo property comprises 27 fee simple land parcels (1,352 acres) and 21 unpatented claims (19 lode mining, 2 mill site claims) (418 acres). These were acquired by Apollo through an Asset Purchase Agreement between Stronghold Silver USA Corp., a wholly-owned subsidiary of Apollo and Pan American Minerals Inc. (“Pan American”; a wholly-owned subsidiary of Pan American Silver Corp.), that closed July 13, 2021. Pan American retains a 2% Net Smelter Royalty on the property.

Langtry Property

The Langtry property comprises 20 patented claims (413 acres) and 38 unpatented lode mining claims (767 acres). The Project is under option between Stronghold Silver USA Corp., a wholly-owned subsidiary of Apollo, and the Bruce and Elizabeth Strachan Revocable Living Trust for the patented claims, and Athena Minerals Inc. for the unpatented claims.

Calico Project 2023 Mineral Resource Estimate at a 50 g/t Ag and 0.3 g/t Au Cut-Off Grades. Effective February 8, 2023 (Waterloo) & January 28, 2022 (Langtry).

(See news release dated March 6, 2023)

Cinco de Mayo Project, Mexico

Cinco de Mayo Project is located in the north central part of Chihuahua State, Mexico approximately 190 km northwest of the state capital of Chihuahua City. The Project is accessible by driving north from Chihuahua City on Federal Highway 45D for approximately 92 km to Highway 7D, then driving northwesterly for approximately 108 km to the town of Ricardo Flores Magón. The Project area is located immediately west of the village of Benito Juárez and for the purposes of exploration, benefits from excellent access via local dirt roads. Cinco de Mayo is made up of 29 concessions totaling over 25,000 ha located in the Municipio de Buenaventura.

The Project is host to the Upper Manto Pb-Zn-Ag (Au) deposit, which consists of two parallel and overlapping manto deposits referred to as the Jose Manto and the Bridge Zone. The Project also hosts the Pozo Seco Mo-Au deposit. The two deposits host distinctly different mineralization with different commodities and are separated by four kilometres.

Upper Manto

The Upper Manto is considered to be a Carbonate Replacement Deposit (“CRD”) types and has many geological and mineralogical characteristics in common with the largest CRDs in Mexico. CRDs are Phanerozoic, high-temperature (>250oC) deposits consisting of major pod, lens, and pipe-shaped Pb-Zn-Ag-Cu-Au skarn and massive sulphide bodies which transgress the stratigraphy of their host carbonate rocks and are commonly associated with igneous intrusive and extrusive rocks.

CRDs have contributed 40% of Mexico's historic silver production, making them second only to epithermal veins. The largest CRDs in Mexico range from 10 million tonnes to over 100 million tonnes in size and define a belt measuring 2,200 km long by 20 km to 50 km wide. The Upper Manto deposit represents a major discovery along this trend. CRDs are commonly mined at rates of 2,500 tpd to over 6,000 tpd, with mining depths in several exceeding 1,200 m below surface.

Poso Seco

The Pozo Seco Mo-Au deposit, for which RPA prepared a Mineral Resource estimate in 2010. At a cut-off grade of 0.022% Mo, the Indicated Mineral Resources were estimated at 29.1 million tonnes grading 0.147% Mo and 0.25 g/t Au, containing 94.0 million pounds Mo and 230,000 ounces Au. Inferred Mineral Resources were estimated at 23.4 million tonnes grading 0.103% Mo and 0.17 g/t Au, containing 53.2 million pounds Mo and 129,000 ounces Au.

Pegaso Zone

A potential new discovery, called the Pegaso Zone, was drilled in 2012. Consisting of 61.6 m of massive sulphide in a deeper hole (CM-12-431), it was not included in the 2012 historical resource estimate. This intercept is considered a high priority target and has potential to be a significant new discovery. The Company’s initial review of historical data suggests that the Pegaso Zone could indicate a larger and higher-grade resource at depth.

Management

Management and Directors

Andrew Bowering, Interim President & Chief Executive Officer, Chair and Director

A venture capitalist with over 30 years of operational experience, Mr. Bowering has raised over $500M in value and capital for companies within the natural resources industry. He is the founder of Millennial Lithium and American Lithium Corp. and he is a director and executive advisor to Prime Mining Corp.

Chris Cairns, CPA, CA, Chief Financial Officer

Mr. Cairns has more than 10 years of experience working in the finance and mining industry.

Rona Sellers, LLB, VP of Commercial & Compliance, Corporate Secretary

Ms. Sellers is an experienced governance professional with more than 10 years of experience in corporate and securities law.

Amandip Singh, VP of Corporate Development

Mr. Singh is a geologist and mining professional with over 15 years of experience in the mining industry, finance and academia.

Isabelle Lepine, M.Sc., P.Geo., Director of Mineral Resources

With over 20 years experience leading resource focused technical programs and teams, Ms. Lepine brings extensive knowledge in mineral resource management to Apollo.

Jocelyn Thompson, Independent Director

Steven Thomas, Independent Director

Alex Tsakumis, Independent Director

Collette Brown-Rodriguez, Independent Director

News Update

On November 11, 2024, Apollo Silver Corp. has closed its previously announced non-brokered private placement and has issued an aggregate of 67.5 million common shares of the company at a price of 20 cents per share for aggregate gross proceeds of $13.5-million. Eric Sprott has subscribed for $2-million of the offering.

"We are pleased to welcome Mr. Eric Sprott to our list of valued shareholders," commented Andrew Bowering, interim president and chief executive officer. "With the funds raised from this financing, we believe the company is well capitalized to continue building value for all our shareholders."

The company intends on using the net proceeds from the offering to continue advancing the Calico silver project in San Bernardino, Calif., to invest in community relations initiatives at its newly optioned Cinco de Mayo silver project in Chihuahua, Mexico (see news release dated Sept. 23, 2024), for continuing property maintenance costs at both projects, and for general corporate purposes.

October 18, 2024, Apollo Silver Announces Further Upsizing of Private Placement to $13.5-million

https://apollosilver.com/apollo-silver-announces-further-upsizing-of-private-placement/

October 4, 2024, Apollo Silver Increases Private Placement to $12-million

https://apollosilver.com/apollo-silver-announces-upsizing-of-private-placement/

October 3, 2024, Apollo Silver Announces $10 Million Private Placement

https://apollosilver.com/apollo-silver-announces-10-million-private-placement/

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