Apollo Increases Measured and Indicated Silver Resource Estimate at Calico Project

Core Insights - Apollo Silver Corp. announced an updated independent Mineral Resource estimate for its Calico Silver Project, revealing a 61% increase in Measured & Indicated silver tonnes to 55 million tonnes at a grade of 71 g/t, totaling 125 million troy ounces of silver, which is a 14% increase in silver ounces compared to the previous estimate [1][5][37] - The updated resource includes inaugural estimates for barite and zinc, which are now categorized as critical minerals in the US, enhancing the project's overall value and development potential [4][5][37] Mineral Resource Estimate - The 2025 Mineral Resource Estimate (MRE) for the Waterloo property includes 125 million ounces of silver in 55 million tonnes at an average grade of 71 g/t in the Measured & Indicated categories, and 0.51 million ounces of silver in 0.6 million tonnes at an average grade of 26 g/t in the Inferred category [5][37] - The Langtry property now contains 57 million ounces of silver in 24 million tonnes at an average grade of 73 g/t in the Inferred category [5][37] Additional Mineral Resources - The inaugural estimates for barite and zinc are as follows: - Indicated: 36 million tonnes at 7.4% BaSO4 and 0.45% Zn, totaling 2.7 million tonnes of BaSO4 and 354 million pounds of Zn - Inferred: 17 million tonnes at 3.9% BaSO4 and 0.71% Zn, totaling 0.65 million tonnes of BaSO4 and 258 million pounds of Zn [6][7][37] - Gold resources have increased by 86% in the Inferred category, totaling 0.13 million ounces in 17 million tonnes at a grade of 0.25 g/t [6][7] Economic Viability - The project features a low strip ratio of 0.8:1 for the Waterloo deposit, indicating favorable conditions for economic extraction [6][8] - Sensitivity analyses demonstrate the resilience of the silver resource to changes in metal prices, suggesting a robust economic outlook for the project [6][8] Future Development Plans - The company plans to conduct a Preliminary Economic Assessment (PEA) to further evaluate the project's potential, with a focus on the newly identified critical minerals [4][5] - There is strong potential for further discoveries at Calico, particularly in areas that remain untested under Quaternary cover and along strike [6][8]