We believe that Apollo provides a compelling investment opportunity for investors looking for exposure to responsibly sourced silver development opportunities.” Calico is uniquely positioned to benefit from the USA’s commitment to reducing its carbon footprint and the increased demand for a secure supply of ethically sourced silver to support that objective. The low strip ratio, combined with the recently announced positive initial metallurgical results, and nearby infrastructure provide an excellent foundation as we advance one of the largest undeveloped silver resources in the USA. This solid outcome is the culmination of a tremendous amount of work by an excellent team that has consistently delivered against our stated objectives. “This updated mineral resource estimate significantly de-risks the Calico Project and confirms Waterloo as one of the premier silver development opportunities in any Tier-1 jurisdiction. “Today’s announcement is an important milestone that will underpin the future development of the Calico Silver Project,” commented Apollo’s President and CEO, Tom Peregoodoff. Low strip ratio of 1.1:1 for Waterloo silver resource. Robust silver resource: conservative base-case estimate uses 50 g/t silver cutoff grade (“COG”).
ħ0,000 oz Inferred oxide gold (“Au”) ounces added to metal inventory at Waterloo. Highlights of the Calico Project 2023 MRE 1 :ġ10 million ounces (“Moz”) silver (“Ag”) classified as Measured and Indicated (“M&I”) declared at Waterloo with an average grade of 100 grams per tonne (“g/t”) silver:Ĩ1% (90 Moz) classified as Measured at 103 g/t silver.ĩ5% of Inferred 2 silver ounces have been converted to M&I 2.
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