Apollo Gold Corporation (“Apollo”
or the “Company”)
(TSX: APG)(AMEX: AGT stock message board forums) is pleased to announce that the Company has
commenced a 30 to 40 hole core drilling program at its Huizopa project
on a target known as Puma de Oro.
The Huizopa project is located in the Sierra Madres in the State of
Chihuahua, between Alamos Gold’s Mulatos Mine
and Minefinder’s Dolores project. Apollo’s
property package consists of 170 sq. km and to date the Company has
conducted aerial surveys, mapping, geochemical sampling and geophysical
surveys which identified three primary geological drill targets, one of
which is Puma de Oro.
Senior Vice President Exploration and Development, Richard (Dick) Nanna,
stated that, “Our initial plan is to complete
30 to 40 core holes totaling approximately 4,000 meters of drilling with
helicopter assistance and we expect to be completed in March 2008. Our
contractor Falcon Drilling, specializes in helicopter supported drilling
programs at remote exploration sites and has seasoned drilling personnel
with experience in Canada and Mexico, as well as Central and South
America. In March 2008 we hope to commence the construction of a road to
enable us to road transport both a core rig and a reverse circular rig
so as to expand our drilling program.
This press release has been reviewed and approved by Richard Nanna,
Professional Geologist, Mr. Nanna is designated a “Qualified
Person” under Canadian National Instrument
43-101.
Apollo Gold Corporation
Apollo is a gold mining and exploration company that operates the
Montana Tunnels mine, which is a 50% joint venture with Elkhorn Tunnels,
LLC, the Black Fox advanced stage development project in Ontario,
Canada, and the Huizopa project, an early stage exploration project in
the Sierra Madres in Chihuahua, Mexico.
FORWARD-LOOKING STATEMENTS
This press release includes “Forward-Looking
Statements” within the meaning of section 21E
of the United States Securities Exchange Act of 1934, as amended.
Forward-looking statements can be identified by the use of words such as “may,”
“should,” “expects,”
“plans,” “anticipates,”
“believes,” “estimates,”
“predicts,” “intends,”
“continue,” or the
negative of such terms, or other comparable terminology. These
statements include comments regarding the anticipated timing of
construction of a road at the Huizopa project and the timing, manner and
results of the initial drilling program at the Huizopa project. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from these forward-looking
statements include: the results of assays and additional exploration
sampling and drilling efforts at the Huizopa project; delays in
completing or less favorable than anticipated results of these drilling
programs at Huizopa; delays or problems in construction, permitting of
the Huizopa road construction project and delays in the commencement of
the drill program as envisaged or other factors disclosed under the
heading “Risk Factors”
and elsewhere in Apollo documents filed from time to time with the
Toronto Stock Exchange, The American Stock Exchange, The United States
Securities and Exchange Commission and other regulatory authorities. All
forward-looking statements included in this press release are based on
information available to Apollo on the date hereof. Apollo assumes no
obligation to update any forward-looking statements.
