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Gold/Mining/Energy : Exall Resources/Glimmer Resources -- Ignore unavailable to you. Want to Upgrade?

To: winzer5 who wrote (1221)	6/11/2003 8:03:13 PM
From: winzer5	Read Replies (2) \| Respond to of 1319

Some BMO-NB "activity" on Matchewan, GME sold 300k treasury shares to EXL GME paid EXL in APG shares Apollo Gold Corp (C-APG) - News Release (Winzer's note: Text Only .. DDH data not copied here) Apollo Gold provides drill intercepts from Black Fox Apollo Gold Corp APG Shares issued 38,597,124 Jun 2 2003 close $ 3.10 Tuesday June 3 2003 News Release Mr. R. David Russell reports APOLLO GOLD CORPORATION ANNOUNCES NEW DRILL RESULTS AND AN INCREASE IN DRILLING AT BLACK FOX PROJECT Apollo Gold has provided the latest high-grade gold drill core intercepts for the Black Fox project near Timmins, Ont. The company is also increasing its 2003 core drilling program to 230,000 feet (70,000 metres). "Drill results so far have been excellent for defining both open-pit and underground resource targets. The continuity of mineralization is encouraging," said R. David Russell, president and chief executive officer. Apollo is currently drilling to define a high-grade near-surface gold resource amenable to open-pit mining as well as drilling deep, high-grade mineralization over a strike length of 1,000 feet (305 metres) for a potential underground mine. The shallow or open-pit targets are a vein set that begins approximately 50 feet (16 metres) below the surface at the bottom of the glacial fill to approximately 400 feet (122 metres). The deep drilling is defining new ore shoots in the Destor-Porcupine fault zone well below any previous mining by the previous Glimmer mining operation. The new, Black Fox Deep veins appear to have good continuity in widths and strike dimension, and may have much higher grade than the veins reported to have been mined by the Glimmer operation. The new high-grade gold vein (Black Fox Deep) set was intersected from approximately 600 to 1,200 feet (185 to 365 metres) below the surface. The newest round of drilling has added 44 holes to the drill hole database for a total of 78 holes drilled to date. The latest drilling has added many new high-grade gold intercepts. Some of the best intercepts in the latest round of drilling were as follows: hole No. 55 had 20 feet (5.5 metres) of five ounces per ton (171.57 grams per tonne (g/t)); and hole No. 65 had 20 feet (6.1 metres) of 2.65 ounces per ton (91.1 g/t). "The drilling costs have been lower than expected, additionally there has been very good footage production per shift and excellent core recovery due to the good ground conditions and effective drilling practices. This success in productivity has enabled us to increase the scope of the project," said Mr. Russell. In addition, the fact that we have multiple mineralized zones as targets to offset means we can drill effectively with additional rigs. A fifth core drill rig was added to the program in April." Apollo Gold has increased the land package for the Black Fox project. The original land package acquired was approximately 885 acres and an additional 490 acres has been added for a total land package of 1,375 acres. Apollo has also completed a propertywide induced polarization (IP) geophysical program, which is now being evaluated in order to target exploration drilling elsewhere along the Destor-Porcupine fault. (The original gold discovery was made by Hemlo Gold by following up on a geophysical anomaly with drilling.) The company will begin a prefeasibility study in June of 2003 to determine if an open-pit mine is feasible at the Black Fox project. The prefeasibility information and resource calculation estimates are expected by early fourth quarter 2003. The drilling results for a new deep underground resource are expected by the end of 2003. The final feasibility for the underground deposit will be completed after the resource is defined by close spaced drilling from underground platforms. Below are all of Apollo's drilling results since the last press release. BLACK FOX PROJECT DRILL HOLE ASSAYS May 30, 2003 From To Width Assay TD ft ft ft opt What's my point? There could be some value here once GME gets relisted (their own words) and the only way to play GME at present is through MATN? Any (sensible) Comments? Winzer