Favourable Silver Recoveries at Calico Silver Project

Apollo Silver Corp. (TSX.V:APGO) is a silver exploration and development company focused on advancing its Calico Silver Project in San Bernardino County, California. The company recently announced promising preliminary metallurgical test results for the Waterloo deposit, part of the Calico Project.

The testing showed favourable silver recoveries of 40-61% from conventional cyanide leaching and up to 80% recovery from ultra-fine grinding. High pressure grinding roll (HPGR) product also showed 50-100% increased silver recovery compared to conventional crushing. These results are in line with an active operation for a similar deposit type.

The positive results will be incorporated into Apollo's updated mineral resource estimate for Waterloo, expected in early March. The current inferred resource at Waterloo is 116 million ounces of silver.

This metallurgical testing is an important step for Apollo Silver, demonstrating that mineralization at the Calico Project responds well to conventional processing methods. As the company continues exploration and resource development at Calico, these positive recovery rates provide encouragement about the potential economics of the project.

For investors, the favourable metallurgical results represent a derisking event for Apollo Silver. They indicate the silver at Calico could be extracted at reasonable rates using standard industry techniques. With silver prices remaining strong in 2023, the Calico Project offers an attractive potential silver development opportunity. Investors should keep an eye on upcoming announcements from Apollo, especially the updated Waterloo resource estimate expected soon. The company may emerge as an exciting silver developer if exploration continues yielding positive results.