Apollo Silver Secures 100% Interest in Athena Claims at Langtry
Apollo Silver Pays Up to Solidify California Silver Asset Ahead of Major Drill Program
On December 18, 2025, Apollo Silver announced it has exercised its option to acquire a 100% interest in the 36 Athena claims, located at its Langtry Property, part of the Calico Silver Project in California. The acquisition was completed with a final payment of US$950,000, fulfilling an option agreement originating in December 2020. As part of the agreement, Apollo has granted a 1% Net Smelter Royalty (NSR) to the vendor, Athena Minerals Inc., on claims where the total royalty burden does not exceed 2%. This move consolidates the company's land position at its flagship project.
This news is a positive, but routine, step in the company's operational plan. Reviewing the historical context, Apollo signed the option agreement in 2020 and its full execution was an expected event, as disclosed in financial filings. The final payment comes after a series of transformative developments for the company in the latter half of 2025:
- September 2025: An updated Mineral Resource Estimate (MRE) for Calico significantly increased the resource, boosting Measured and Indicated silver by 14% to 125 million ounces and, critically, adding Indicated resources of barite and zinc, both designated as U.S. critical minerals. This was followed by a 1-for-5 share consolidation.
- October 2025: The company closed an upsized and oversubscribed private placement for ~$26.8 million at $3.60 per unit, backed by notable resource investors including Eric Sprott and Sprott Asset Management. This financing fully funds the company's near-term plans.
- November 2025: Silver was officially added to the U.S. Government's 2025 List of Critical Minerals, providing a significant tailwind for the Calico project and potentially streamlining the permitting process under the FAST-41 program.
- December 2025: Apollo announced a comprehensive 5,500-metre drill program for 2026 at Calico to advance technical studies and test exploration targets.
The final payment of US$950,000 for the Athena claims is a logical and prudent use of a small portion of the recently raised capital. It de-risks the project by eliminating option uncertainty and consolidating 100% ownership ahead of the major 2026 work program.
While positive, the event was anticipated and does not introduce new information that would materially change the company's valuation. It is an execution milestone that confirms management is methodically advancing its flagship asset as planned. The market likely priced in the eventual acquisition of these claims. Therefore, the impact is considered routine and positive, reinforcing the company's solid operational progress.
Apollo Silver Corp. is a Canadian-based exploration and development company focused on silver. Its flagship asset is the Calico Silver Project in San Bernardino County, California. Calico is one of the largest undeveloped primary silver projects in the United States, hosting a NI 43-101 compliant Mineral Resource Estimate (September 2025) of 125 million ounces of silver in the Measured & Indicated category, plus additional inferred silver, and significant indicated resources of barite and zinc. The company also holds an option on the earlier-stage Cinco de Mayo Project in Chihuahua, Mexico.