Apollo Increases Measured and Indicated Silver Resource Estimate at Calico Project

Core Viewpoint - Apollo Silver Corp. has announced an updated independent Mineral Resource estimate for its Calico Silver Project, showing significant increases in silver, barite, and zinc resources, enhancing the project's overall value and potential for development [1][4][37]. Mineral Resource Estimate - The 2025 Mineral Resource estimate (MRE) for the Waterloo property indicates a total of 55 million tonnes (Mt) at a grade of 71 grams per tonne (g/t) silver, equating to 125 million troy ounces (Moz) of silver, representing a 61% increase in tonnage and a 14% increase in silver ounces compared to the previous estimate [1][5][6]. - The Inferred category now includes 0.51 Moz of silver in 0.6 Mt at an average grade of 26 g/t [5][37]. - The Langtry property has an Inferred resource of 57 Moz of silver in 24 Mt at an average grade of 73 g/t [5][37]. Additional Resources - The updated resource includes inaugural estimates for barite (2.7 Mt at 7.4% BaSO4) and zinc (354 million pounds at 0.45% Zn) in the Indicated category, with additional Inferred resources of 0.65 Mt BaSO4 and 258 million pounds Zn [6][37]. - Gold resources have increased by 86% in the Inferred category, totaling 0.13 Moz in 17 Mt at a grade of 0.25 g/t [6][37]. Project Development Potential - The Calico Project is noted for its low economic strip ratio of 0.8:1, indicating favorable conditions for extraction [6][8]. - The presence of additional critical minerals such as barite and zinc aligns with U.S. critical mineral lists, enhancing the project's strategic importance [4][6]. - Future exploration is expected to target further mineralization along strike and at depth, particularly for gold and silver [6][8]. Geological Context - The Calico Project is located in San Bernardino County, California, and features a mineralized strike length of approximately 6,000 meters, primarily composed of silver-dominant epithermal vein-type and stockwork-type mineralization [35][36]. - The mineralization at both the Waterloo and Langtry properties is characterized by shallow depths, which supports the potential for economic extraction [8][36]. Management Commentary - The President and CEO of Apollo Silver Corp. emphasized the increasing value, scale, and optionality of the Calico Project, highlighting the potential for further discoveries and the upcoming Preliminary Economic Assessment (PEA) [4].