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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Drill Results Routine +

Apollo Reports High-Grade Silver, Gold and Barite Results at Calico

Apollo Silver Confirms High-Grade Targets at Calico Despite Drilling Delays

By The Northwire Desk — AI Analysis May 11, 2026 · 08:55 APGO · 3.26 Apollo Silver Corp.
Executive Summary
  • Exploration Results: Apollo Silver reported high-grade silver, gold, and barite assay results from ground geological mapping and sampling at the Calico Silver Project in California.
  • Key Assay Highlights:
    • Mule Property: Silver values up to 1,280 g/t Ag within Pickhandle Formation volcanics; significant sample of 221 g/t Ag.
    • Burcham Mine Area (Waterloo): Gold assays up to 4.85 g/t Au; Zinc concentrations up to 30.0% Zn in specularite manto zones.
    • Waterloo & Langtry: Silver assays up to 149 g/t Ag at Lower Barstow-Pickhandle contact; Barite assays up to 76.12% at Langtry.
  • Drilling Schedule Update: Upcoming drilling programs rescheduled from Q1/Q2 2026 to Q3 2026 due to permitting delays and seasonal high-temperature constraints in July/August.
  • PEA Status: Preliminary Economic Assessment (PEA) study expected to be completed in Q3 2026.
  • Upcoming Work: 4,500m HQ large diameter drill program for metallurgical/geotechnical data; 1,000m NQ exploration drill program for Burcham gold potential.
Material Impact
  • Validation of Targets: The high-grade sampling results (particularly 1,280 g/t Ag and 4.85 g/t Au) validate the geological models used in the October 2025 Mineral Resource Estimate (MRE). This supports the upcoming PEA but does not constitute a resource update itself.
  • Operational Delay: The rescheduling of drilling to Q3 2026 is a minor negative factor, as it pushes back data collection required for metallurgical and geotechnical inputs into the PEA. However, management states the PEA completion remains on track for Q3 2026, suggesting existing data or alternative pathways are being utilized.
  • Capital Context: The company recently closed a $27.5 million private placement in January/February 2026 with significant insider participation (Eric Sprott, Jupiter Asset Management). This provides ample runway to absorb the delay without immediate dilution risk.
  • Market Expectation: Exploration sampling results are generally expected for a development-stage company advancing toward a PEA. While the grades are impressive, they do not fundamentally alter the valuation model compared to the October 2025 MRE update or the recent financing.
  • Conclusion: The news is positive regarding asset quality but neutral regarding timeline execution. It reinforces confidence in the project's upside without triggering a re-rating of the company's core assets.
APGO · Price
Company Overview
  • Company: Apollo Silver Corp. (TSX-V: APGO).
  • Flagship Project: Calico Silver Project (San Bernardino County, California).
    • Status: Development / Resource expansion phase.
    • Resource Base: 125 Moz Ag Measured & Indicated; 58 Moz Ag Inferred (as of Oct 2025 MRE update). Includes significant Barite and Zinc credits.
    • Secondary Project: Cinco de Mayo Silver Project (Chihuahua, Mexico) - Historical high-grade resource requiring updating.
  • Strategic Positioning: Accepted into U.S. Defense Industrial Base Consortium (DIBC); Silver listed as Critical Mineral by USGS (Nov 2025).
  • Management: Ross McElroy (CEO), Andrew Bowering (Chairman). Team has >$2B mining transaction execution experience.
Read the original news release →

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