Apogee Minerals Ltd.
TSX VENTURE : APE

Apogee Minerals Ltd.

August 16, 2005 09:51 ET

Apogee Commences Drilling at the La Solucion Mine

TORONTO, ONTARIO--(CCNMatthews - Aug. 16, 2005) -

Program Focused On Defining High Grade Silver-Zinc-Lead Mineralization

Apogee Minerals Ltd. (TSX VENTURE:APE) has begun a Phase 1 exploration program at the La Solucion mine in northwest Bolivia. The surface diamond drilling program consists of 10 - 15 holes totalling 2000 metres and is targeting locations beneath areas where previous channel sampling has yielded success.

The drill targets are located as follows beneath these sampled ore shoots:

Principal Vein - 100m shoot 1.5 m wide at 133 g/t Silver, 9.15% Zinc, and 5.8% Lead

Principal Vein - 60m shoot 1.0 m thick at 310g/t Silver, 15.27% Zinc, and 5.97% Lead

Machuca Vein - 100m shoot 1.8 m thick at 95 g/t Silver, 10.66% Zinc, and 3.51% Lead

Hampaturi Vein - two 150m shoots 2.0 m thick at 85 g/t Silver, 9.05% Zinc, and 3.19 % Lead

The technical information regarding the shoots was taken from a survey performed by Dr Leonardo Sandoval, Jaime Argollo, Jaime Rubin de Celis, Rene Ginzales of the Geological Survey of Bolivia (Programa de la Inventariacion de los Recursos Minerales de la Mineria Chica, Banco Mundial, Estudio de Prefactabilidad - Mina Colquecahua, Codigo 114-246-03) with funding from the World Bank in July 1977. Apogee believes that the survey results are relevant and reliable.

The property has never been drill tested and the depth potential of these shoots is unknown. The purpose of the diamond drill program is to test the vein structures and determine the dimensions of the mineralized shoots. This will be followed up by future drill programs designed to delineate resources.

The property hosts a system of northeasterly veins which include the La Solucion Vein, the Hampaturi Vein, the Principal Vein, the Machuca Veins, the Santa Elena Vein, and the JC Vein. (see attached Figure 2). Some of these veins can be traced along strike for up to 10 kilometres. Within the veins there are high-grade shoots of silver, zinc and lead. Mining has been carried out on the Principal and Hampaturi veins following these high-grade shoots. The La Solucion mine has a 13 year production history and lies 18 kilometres northeast of the capital city of La Paz (see attached Location Map, Figure 1).

Apogee President and CEO John Carlesso stated: "The exploration program Apogee is undertaking is designed to advance the company toward its long-term objectives of increasing cashflow and expanding production at La Solucion. A successful Phase 1 program that delineates resources at the mine will greatly assist the company in achieving these goals."

Apogee's Phase 1 Exploration program at the La Solucion consists of detailed geological mapping, sampling, and surveying the underground drifts, new cross cuts for underground drill stations and surface diamond drilling of 10-15 hole totalling 2000 metres.

Apogee Vice-President Exploration Robert Campbell, M.Sc., P.Geo., the Qualified Person as defined under National Instrument 43-101 responsible for technical disclosure in this press release, commented: "The vein system is very extensive and continuous. There are also a number of offshoots to the main veins that increases the potential of the high-grade lead-zinc-silver mineralized shoots."

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.

Additionally, the Company wishes to announce that it has mutually agreed with Strategic Metals Ltd., not proceed at this time with the acquisition of properties in the Yukon and British Columbia referred to in the press release dated July 26, 2005.

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.

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".

Please note: The Bolivia Property Location Map is available on CCNMatthews' website at the following link:

http://www2.ccnmatthews.com/database/fax/2000/bolivia.pdf

Please note: The Geological Map La Solucion is available on CCNMatthews' website at the following link:

http://www2.ccnmatthews.com/database/fax/2000/Geological.pdf

Contact Information

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