Apollo Files NI 43-101 Technical Report for the Calico Silver Project Updated Mineral Resource Estimate
Original announcement by tmx on
- Company
- Apollo Silver Corp.
- Ticker
- APGO
- Exchange
- TSX
- Region
- California, USA
- Primary commodity
- Silver
- Secondary commodities
- Gold, Barite, Zinc
- Document categories
- Resource update
- Extracted
- 2026-08-22 22:49:03 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Apollo Silver Corp. has filed an updated NI 43-101 technical report for the Calico Silver Project, featuring a significant increase in silver tonnage and the addition of barite and zinc resources. The Waterloo property M&I silver resource now totals 55 Mt at 71 g/t Ag, representing a 61% increase in tonnage.
Reasoning: The update shows significant expansion in silver tonnage and the inaugural reporting of barite and zinc resources, significantly increasing the project's scale and metal content.
Positive factors
- Significant tonnage growth (61%)
- Addition of barite and zinc resources
- Gold ounces increase in Inferred category
- Low strip ratio (0.8:1) mentioned
- NI 43-101 compliant with QP sign-off
Negative factors
- Large portion of resource remains Inferred
Facts used in scoring: 8
Classification and evidence
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The report was prepared in accordance with NI 43-101 Standards of Disclosure.
Evidence · text
“The report titled “ NI 43-101 Technical Report and Mineral Resource Estimate for the Calico Silver Project, San Bernardino County, California, USA ””
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Multiple independent Qualified Persons from Stantec are named and responsible for the estimate.
Evidence · text
“The 2025 MRE has been prepared by Derek Loveday, P. Geo., of Stantec Consulting Services Ltd., an independent Qualified Person”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: A significant portion of the silver and gold resources are in the Inferred category.
Evidence · text
“Inferred total of 0.6 Mt at a grade of 26 g/t Ag”
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The M&I silver tonnage increased by 61% compared to the previous announcement.
Evidence · text
“61% increase in tonnage”
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Resource Estimates (8)
indicatedsilverTonnes: 55000000Grade: 71Grade Unit: g/tContained Metal: 125000000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- APGO
Resource Data
- Category
- indicated
- Tonnes
- 55000000
- Grade
- 71
- Grade Unit
- g/t
- Contained Metal
- 125000000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: Large scale M&I silver resource.
Positive factors
- High grade for silver
Evidence · text
“New combined Measured and Indicated total of 55 million tonnes (“Mt”) at a grade of 71 grams per tonne (“g/t”) silver (“Ag”) for a total of 125 million ounces (“Moz”) Ag”
inferredsilverTonnes: 600000Grade: 26Grade Unit: g/tContained Metal: 510000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- APGO
Resource Data
- Category
- inferred
- Tonnes
- 600000
- Grade
- 26
- Grade Unit
- g/t
- Contained Metal
- 510000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: Speculative resource category.
Negative factors
- Inferred category
Evidence · text
“Inferred total of 0.6 Mt at a grade of 26 g/t Ag for a total of 0.51 Moz contained Ag”
inferredgoldTonnes: 17000000Grade: 0.25Grade Unit: g/tContained Metal: 130000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- APGO
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 0.25
- Grade Unit
- g/t
- Contained Metal
- 130000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: Significant increase in gold content within the inferred category.
Positive factors
- 86% increase in gold ounces
Evidence · text
“Gold (“Au”) ounces have increased by 86% in the Inferred category for a new total of 17 Mt at a grade of 0.25 g/t Au and total Au content of 0.13 Moz”
indicatedbariteTonnes: 36000000Grade: 7.4Grade Unit: % BaSO4Contained Metal: 2700000Contained Unit: tView all detailsHide details
Identity
- Commodity
- barite
- Ticker
- APGO
Resource Data
- Category
- indicated
- Tonnes
- 36000000
- Grade
- 7.4
- Grade Unit
- % BaSO4
- Contained Metal
- 2700000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: New critical mineral resource addition.
Positive factors
- Inaugural resource
Evidence · text
“Indicated: 36 Mt @ 7.4% BaSO 4 and 0.45% Zn for a total content of 2.7 Mt BaSO 4 and 354 million pounds (“Mlbs”) Zn”
indicatedzincTonnes: 36000000Grade: 0.45Grade Unit: % ZnContained Metal: 354000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- zinc
- Ticker
- APGO
Resource Data
- Category
- indicated
- Tonnes
- 36000000
- Grade
- 0.45
- Grade Unit
- % Zn
- Contained Metal
- 354000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: New critical mineral resource addition.
Positive factors
- Inaugural resource
Evidence · text
“Indicated: 36 Mt @ 7.4% BaSO 4 and 0.45% Zn for a total content of 2.7 Mt BaSO 4 and 354 million pounds (“Mlbs”) Zn”
inferredbariteTonnes: 17000000Grade: 3.9Grade Unit: % BaSO4Contained Metal: 650000Contained Unit: tView all detailsHide details
Identity
- Commodity
- barite
- Ticker
- APGO
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 3.9
- Grade Unit
- % BaSO4
- Contained Metal
- 650000
- Contained Unit
- t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: New critical mineral resource addition.
Negative factors
- Inferred category
Evidence · text
“Inferred: 17 Mt @ 3.9% BaSO 4 and 0.71% Zn for a total content of 0.65 Mt BaSO 4 and 258 Mlbs Zn”
inferredzincTonnes: 17000000Grade: 0.71Grade Unit: % ZnContained Metal: 258000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- zinc
- Ticker
- APGO
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 0.71
- Grade Unit
- % Zn
- Contained Metal
- 258000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: New critical mineral resource addition.
Negative factors
- Inferred category
Evidence · text
“Inferred: 17 Mt @ 3.9% BaSO 4 and 0.71% Zn for a total content of 0.65 Mt BaSO 4 and 258 Mlbs Zn”
inferredsilverTonnes: 24000000Grade: 73Grade Unit: g/t AgContained Metal: 57000000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- APGO
Resource Data
- Category
- inferred
- Tonnes
- 24000000
- Grade
- 73
- Grade Unit
- g/t Ag
- Contained Metal
- 57000000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-10-16T00:00:00.000Z
Reasoning: Langtry property resource is entirely Inferred.
Negative factors
- Inferred category
Evidence · text
“Updated Langtry MRE now includes 24 million tonnes at a grade of 73 g/t Ag for a total Ag content of 57 million ounces”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.