Apolo Gold Inc. Announces Independent Review Confirms Drill Program.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 9, 2002 Apolo Gold Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: APLL APLL Analog Phase-Locked Loop APLL Associate Product Lead for Logistics (FAA) ) announces an update on the development of its gold-silver property located near Bandar Lampung Bandar Lampung is the capital province of Lampung, Indonesia. It was formerly called Tanjungkarang-Telukbetung, the names of the two major sections of the city, before being renamed in 1983. , on the Island of Sumatra, Indonesia. An Independent Geologist, Alex Boronowski, visited the property late July 2002 and in a written report to the company, recommended a drilling program approximating $350,000US, consisting of 1,000 metres HQ size diamond drilling Diamond Drilling is a highly specialized industry used for mineral exploration around the world. Most commonly using wireline and core bits with diamond encrusted matrix. To drill holes to max depths of twelve thousand feet, for the recovery of core used in verifying mineral and that seven drill targets had been identified. Peter Bojtos, P.Eng, an Independent Geological Engineer, has reviewed progress to date and provided the company with an overview of the property, its status, and further recommendations regarding the drill program. Bojtos visited the property recently and has presented an independent report to the company along with recommendations and conclusions. Bojtos confirmed that the company is justified in carrying out further exploration of the high-grade veins. At present, there are seven north-south, shear related high-grade veins. These narrow veins are presently being mined by local workers to a depth of 40 metres. The possibility of low-grade disseminated gold mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. being found in-situ between these high-grade veins should be investigated below the effects of the surface weathering. Should the average grade be around 1.5 grams per ton, then a highly profitable open pit mine could be developed. Bojtos also recommended that drilling be done at lower elevations and specific drilling between Veins 1 and V1 in order to obtain sufficient data to ascertain whether there is sufficient disseminated gold mineralization below the surface weathered zone to develop an ore reserve that would be amenable to bulk mining. A very favorable low stripping ratio of 0.9:1 would result in extremely low mining costs per ton. The company therefore intends to pursue a drilling program early in 2003. Apolo Gold Inc. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement All statements contained herein, as well as oral statements that may be made by the company or by officers, directors or employees of the company acting on the company's behalf, that are not statements of historical fact, constitute "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for 2001 as filed with the Securities and Exchange Commission. The company is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. |
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