One of the companies from the precious metals sector that investors could consider looking into this morning is Apollo Silver Corp (OTCMKTS:APGOF), which had made a major new announcement yesterday.
Trading Data
On Monday, APGOF stock gained 2.44% to $0.1093 with more than 5K shares, compared to its average volume of 18.17K shares. The stock moved within a range of $0.1093 – 0.1093 after opening trading at $0.1093.
Apollo Provides Update on Phase 2 Drill Program at Calico Silver Project
The company announced on Monday that the drilling activities at the Calico Silver Project had been underway for quite some time. In this regard, Apollo Silver noted that it had managed to complete as many as 13 reverse circulation drill holes at the site. The drill holes had been completed as part of the Second Phase of the drill program of 2022.
However, in this regard, it ought to be noted that the above mentioned phase two of the drilling program is a constituent of the wider Calico Technical Program for 2022 that had been put in place by Apollo Silver. The aim of the program is to expand and upgrade the Inferred Mineral Resource Estimate of the company.
At this point in time the mineral resource estimate of the company stands at 166 million ounces of silver in 58.1 million tons. It now remains to be seen if the Apollo Silver stock comes into focus among investors following the latest announcement or not.
Key Quote
“Phase 2 of the 2022 drill program is progressing on schedule and on budget,” Apollo CEO Tom Peregoodoff commented. “The commencement of the groundwater monitoring program is an important milestone as we advance the Calico Project. Understanding the nature and availability of groundwater in the Calico Project area will be a critical component of our strategy to secure water resources required to support future development. As has been our previous experience with obtaining permits for the drill program, we received the permit to drill a new water well in a very timely fashion from the County of San Bernardino.”
Technical Data
APGOF stock is trading below the 20-Day and 50-Day Moving averages of $0.11 and $0.13 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.30. The company has a total market capitalization of $19 million.
