Apogee Minerals Ltd.
TSX VENTURE : APE

Apogee Minerals Ltd.

September 20, 2005 08:00 ET

Apogee Channel Sampling at Buena Vista Finds More High-Grade Gold-Silver-Zinc-Lead Mineralization

TORONTO, ONTARIO--(CCNMatthews - Sept. 20, 2005) - Apogee Minerals Ltd. (TSX VENTURE:APE) has received additional analytical results showing high-grade Gold-Silver-Zinc-Lead mineralization from the program of underground channel sampling on previously mined drifts at the Buena Vista property in the Potosi district of southwestern Bolivia. Apogee has channel sampled the Rampa drift, which lies 125 metres northwest of the San Pablo Adit, where channel sample results have been recently reported (see press release dated August 12, 2005). The Rampa drift is 137 metres long and is between 20 and 40 metres below surface. The drift was systematically channel sampled over its entire length including declines and crosscuts.

Significant assays have been returned from the channel sampling done from underground on the Rampa drift (See attached figure). A total of 35 channel samples have been taken with all the results included in Table 1 below. Some of the more significant assays include:

- 4.10 metres of 5.8 g/t Gold, 10.7oz/T Silver, 26.1% Zinc and 8.6% Lead

- 2.15 metres of 5.8 g/t Gold, 15.9 oz/T Silver, 8.7% Zinc and 7.3 % Lead

- 2.00 metres of 6.1 g/t Gold, 26.6 oz/T Silver, 7.3% Zinc and 2.4% Lead

- 1.40 metres of 5.3 g/t Gold, 13.7 oz/T Silver, 10.0% Zinc and 3.0 % Lead

- 1.50 metres of 7.0 g/t Gold, 14.5 oz/T Silver, 5.2% Zinc and 2.3% Lead

- 1.25 metres of 10.6 g/t Gold, 62.5 oz/T Silver, 10.0% Zinc and 6.6 % Lead

The Phase I exploration program to date has tested the vein structure for over 800 meters to a vertical depth of 150 meters below surface. The program has included diamond drilling (6 holes totalling 1200 metres), surface trenching (10 trenches) and underground channel sampling (4 old workings). The structure ranges from less than 1.0 to 30 metres wide and is near vertical.

Apogee Vice-President Exploration Robert Campbell stated: "The results from underground channel sampling have begun to outline a very significant high grade gold-silver-zinc-lead zone that remains open along strike and at depth. The vein structure is very continuous and has good exploration potential for a significant resource. We are therefore planning an expanded Phase II drill program to further define and quantify the mineralized zone."

The Bolivian Altiplano and Eastern Cordillera hosts an important metallogenic event. Major hydrothermal ore deposits of gold, silver, tin, lead, zinc, bismuth and antimony are related to near-surface stocks and subvolcanic eruptive centers. The mineralization occurs in veins, fracture swarms, dissemination and breccias. The deposits are telescoped with early high temperature phases and have some affinities with the epithermal low-sulfidation type model.

The Buena Vista property is located in southwestern Bolivia, approximately 600 km south southeast of La Paz, within the San Antonio de Lipez District, Potosi Department, near the border with Argentina. The property is comprised of one 200 ha block.

Apogee's Phase 1 Exploration program at the Buena Vista consists of detailed geological mapping, sampling trenches and old underground workings and drilling six holes totalling 1,200 metres.

Mr. Robert Anderson Campbell, M.Sc., P.Geo., is the Qualified Person as defined under National Instrument 43-101 responsible for the scientific and technical work on the exploration program and is responsible for reviewing the technical disclosure in this press release.

All analytical work has been completed by ALS Chemex of North Vancouver, BC, Canada. A suite of 30 elements was analyzed using aqua regia digest and ICPAES analysis (ALS Analytical Code ME-MS41). Any samples exceeding threshold limits were re-analyzed using the most appropriate technique: silver, zinc and lead - agua regia digestion, AAS finish (ALS Analytical Code AA46), gold - 30g fire assay with AAS finish (ALS Analytical Code AA25). ALS Chemex is a respected international analytical service which is accredited with NATA and complies with standards of ISO 9001:2000 and ISO 17025:1999. They employ a variety of international standards for quality control purposes. The company has initiated a QC program consisting of utilizing standards, duplicate and blank samples and laboratory cross-checks.

Apogee Minerals Ltd. is a Canadian exploration and development company listed on the TSX Venture Exchange under the symbol APE. The company has several advanced Silver-Zinc exploration properties in the historic Potosi Department of southwestern Bolivia and recently received regulatory approval for the acquisition of the Silver-Zinc-Lead producing La Solucion mine in northwestern Bolivia.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".

This press release is available on the company's official on-line investor relations site for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/ir/apogee . Alternatively, investors are asked to email all questions and correspondence to APE@agoracom.com where they can also request addition to the Apogee Minerals investor email list to receive all future press releases and updates directly.



Table 1: Underground Channel Sample Results
Rampa Drift

Width
Sample # (metres) Au (g/t) Ag (g/t) Ag (oz/T) Pb % Zn %
7824 1.25 10.6 2140 62.5 6.6 10.0

7822 0.40 14.6 2230 65.1 5.5 16.9
7823 1.60 4.0 584 17.0 1.6 4.9
Average 2.00 6.1 913 26.6 2.4 7.3

7821 0.85 2.5 140 4.1 0.5 0.8

7820 1.50 1.7 85 2.5 0.4 0.6

7819 2.30 1.7 154 4.5 1.0 0.6

7323 6.00 0.1 7.9 0.2 0.01 0.6

7818 1.40 0.05 1.6 0.05 0.01 0.6

7816 1.25 0.05 1.5 0.04 0.01 0.1
7817 1.00 0.1 3.1 0.1 0.03 0.1
Average 2.25 0.1 2.2 0.06 0.02 0.1

7814 0.40 10.2 725 21.2 15.2 13.8
7815 0.85 0.5 12.6 0.4 0.3 0.3
Average 1.25 3.6 240.6 7.0 5.1 4.6

7322 4.80 2.4 71.3 2.1 1.0 1.6

7825 1.80 0.6 56.3 1.6 1.7 1.8

7826 2.20 5.6 350 10.2 8.1 24.5
7827 1.90 6.0 388 11.3 9.2 27.9
Average 4.10 5.8 367.6 10.7 8.6 26.1

7828 1.15 37.2 188 5.5 1.3 1.4

7829 1.15 5.6 181 5.3 1.8 2.4

7830 0.95 0.8 33.8 1.0 0.3 0.5

7831 0.35 16.8 1635 47.7 12.1 19.2
7832 1.05 1.0 80.6 2.4 0.03 0.5
Average 1.40 5.3 469.2 13.7 3.0 5.2

7833 0.25 3.3 401 11.7 9.0 17.7
7834 0.90 0.1 4.1 0.1 0.1 0.1
Average 1.15 0.8 90.4 2.6 2.0 3.9

7835 1.50 7.0 498 14.5 2.3 3.0

7836 0.35 16.6 2350 68.6 13.0 23.7
7837 1.80 3.7 192 5.6 6.2 5.7
Average 2.15 5.8 543.3 15.9 7.3 8.7

7838 1.05 2.1 121 3.5 2.3 2.2
7839 1.80 5.7 455 13.3 8.0 19.5
Average 2.85 4.1 350 10.2 4.3 13.5

less
than
7321 5.00 0.05 6.9 0.2 0.05 0.3

less
than
7320 5.00 0.05 2.4 0.1 0.01 0.01

less
than
7319 5.00 0.05 0.7 0.02 0.01 0.03

less
than
7318 5.00 0.05 4.4 0.1 0.01 0.02

less
than
7317 5.00 0.05 20.3 0.6 0.05 0.1

less
than
7316 5.00 0.05 14.3 0.4 0.04 0.1

less
than
7315 5.00 0.05 7.0 0.2 0.01 0.02


NOTE: There are maps available on CCNMatthews' website at:

http://www.ccnmatthews.com/docs/ape0920a.pdf

http://www.ccnmatthews.com/docs/ape0920b.pdf

Contact Information

  • Apogee Minerals Ltd.
    John Carlesso
    President and C.E.O.
    (416) 861-5881