Apogee Announces Appointment of Vice President of Operations and Calls for Tenders for Mining Contract at Pulacayo
15 February 2011 - 12:00AM
Marketwired
Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:
APE) is pleased to announce the appointment of Mr. Oscar Calero as
the Vice President of Operations of the Company effective February
15th, 2011. Mr. Calero brings extensive engineering experience in
both mine operations and development projects with over 20 years of
practice in both Peru and Canada. Most recently, Mr. Calero was the
Superintendent of Projects and Productivity at Volcan Compania
Minera, a publicly traded Peruvian mining company that produces
zinc, lead, silver, and copper from six underground mining
operations. Previously, Mr. Calero held the position of Manager of
Underground Mine Planning and Projects, Peru, for Hochschild Mining
PLC, and Mine Operations Manager for Century Mining's Sigma-Lemaque
Operation in Val d'Or Quebec. Mr. Calero holds a Bachelor's Degree
in Mine Engineering from the National Engineering University of
Peru, and a Masters Degree in Business Administration from the ESAN
Graduate School of Business in Peru.
In connection with his appointment, the Company shall grant Mr.
Calero 100,000 stock options of the Company at an exercise to be
determined in accordance with the closing price of the Company's
common shares on the date immediately prior to his engagement with
the Company. The options shall vest immediately and will expire
within five years from the date of grant, in accordance with the
terms of Apogee's stock option plan. The options shall remain
subject to receipt of all necessary regulatory approvals, including
the approval of the TSX Venture Exchange.
Apogee is also pleased to report that that it has invited
several South American based mining contractors to submit detailed
proposals for the provision of contract mining services at its 100%
owned Pulacayo project during 2011. The Company is currently
undertaking a comprehensive evaluation of the feasibility of
initiating a pilot mining and toll milling program at the Pulacayo
Deposit. The focus of the mining program would be on higher grade
zones within the deposit, which may be readily accessible utilizing
the historical mine development. A key part of this assessment is
identifying and engaging a contract miner who would be responsible
for the rehabilitation of the existing level development and
haulage drifts, development of new access to planned stopes and the
production of ore from these stopes. It is anticipated that a
comprehensive pilot mining plan will be completed before the end
March 2011 and a contract would be awarded shortly thereafter.
The toll milling development is viewed as the first stage in the
development plan at Pulacayo. The Company will also commission a
feasibility study for developing a stand-alone mill at the Pulacayo
site which would support a higher production rate in future.
Chris Collins, P. Geo., the President of the Company, stated,
"We are very pleased to have Oscar Calero join the Apogee team at
this very exciting time in our development. His experience in
underground operations and development projects combined with his
leadership skills will be invaluable to us as we evaluate the
opportunity to transition from exploration, to development and
production at Pulacayo."
In addition to the pilot mining and toll milling initiative,
Apogee is also maintaining an aggressive exploration program at the
Pulacayo Deposit, with two diamond drills continuing to work on the
property targeting extensions to the known mineralization along
strike east of the current resources and a third drill being
commissioned. (See Press Release dated January 10th 2011 and
January 18th 2011). Additional results from the drilling program
will be released as they become available.
For detailed project information please refer to Apogee's web
site at www.apogeeminerals.com.
About Apogee Minerals Limited
Apogee Minerals Ltd. is an exploration stage company listed on
the TSX Venture Exchange under the symbol APE. Apogee targets
advanced silver-zinc-lead projects in South America that
demonstrate potential to be rapidly developed to production.
Currently its projects are located in the historic silver producing
regions of southwest Bolivia and northern Chile.
Its most advanced project is the 100% owned Pulacayo-Paca
project in Bolivia, This project includes the property that covered
the second-largest silver mine in the history of Bolivia with over
600 million ounces of past production.
Cautionary Note Regarding Forward-Looking Information This press
release contains "forward-looking information" within the meaning
of applicable Canadian securities legislation. Forward-looking
information includes, but is not limited to, statements with
respect to the impact of the appointment on the Company, future
financial or operating performance of the Company, its subsidiaries
and its projects, the development of the Pulacayo-Paca project, and
statements regarding exploration prospects. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the
actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral prices; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and, delays
in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE
Contacts: Apogee Minerals Ltd. Marilia Bento Vice President
Corporate Development (1) 416 309-2694 info@apogeeminerals.com
www.apogeeminerals.com
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