Apollo Gold Corp. (AMEX:AGT) – Excelling in Three Areas of Gold Mining
Source: http://Blog.QualityStocks.net/?p=12474Posted on Friday, September 19th, 2008 | In Small & Micro Cap
Apollo Gold is a mining company with active interests in all three facets of gold mining; exploration, site development, and actual gold production.
The company’s exploration efforts are centered around the Huizopa Project, a 170 square mile area of the Sierra Madres mountain range in the Chihuahua region of Mexico. In February of this year, Apollo commenced drilling on at least 30 test scores, of which a dozen have already been completed. These core drillings will allow the company to assess the potential value of the claim, which lies within one of the most prolific gold producing areas in the world.
Apollo’s advanced development program consists of the Canadian Black Fox Project, located in the Ontario province. The company’s plans to build a fully-producing mine at the site are contingent only upon obtaining the proper permits from the Canadian government. To date, the company has completed 1,884 drill holes, and the site is expected to contain upwards of 1.33 million ounces of gold.
Rounding out Apollo’s operations is its fifty percent stake in the fully-operational Montana Tunnels mine. The open pit yields a daily average of 14,000 tons of ore for processing, and contains significant levels of not only gold, but silver, lead, and zinc as well. Estimates for production in 2008 are 45,000 ounces of gold, 350,000 ounces of silver, 14,000,000 lbs. of lead, and 36,000,000 lbs. of zinc.
Apollo’s diversified portfolio spans every aspect of the mining process, and certainly qualifies the company as “One to Watch”. With the building of the Black Fox mine slated for 2009, the most exciting times for this company have yet to come.
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Apollo Gold Corp., Black Fox mine, Canadian Government, Gold mining, Mexico, Montana Tunnels mine, Ontario, Sierra Madres mountain range, Small & Micro Cap
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