# Apollo Silver Initiates Preliminary Economic Assessment for the Calico Project

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c

Original source: https://money.tmx.com/en/quote/APGO/news/7123307886066812/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project

Publisher: tmx

Original announcement: 2026-03-18T11:00:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Apollo Silver Corp.

- Ticker: APGO

- Exchange: TSX

- Region: California

- Primary commodity: Silver

- Secondary commodities: Barite, Zinc

- Document categories: Resource update, Other

- Extracted: 2026-08-22 22:42:13 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Apollo Silver has engaged SLR Consulting to lead a Preliminary Economic Assessment \(PEA\) for the Calico Silver Project in California. The company also announced the completion of a high-resolution airborne geophysical survey and is advancing metallurgical and geotechnical programs to support future development.

Reasoning: The announcement marks a significant project advancement milestone by initiating a PEA and engaging professional consultants, while restating a substantial existing resource base.

- Positive factor: Initiation of PEA

- Positive factor: Large silver resource scale

- Positive factor: Presence of critical minerals \(barite, zinc\)

- Positive factor: High-resolution geophysical survey completed

- Negative factor: Resource is primarily Inferred

Facts used in scoring: 6

## Classification and evidence

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The company has engaged SLR to lead a Preliminary Economic Assessment \(PEA\).

Evidence · text

> engaged SLR Consulting \(Canada\) Ltd. \(“SLR”\) ... to lead a Preliminary Economic Assessment \(“PEA”\)

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The resource estimate is based on a NI 43-101 Technical Report.

Evidence · text

> The Technical Report was prepared in accordance with National Instrument 43-101 \(“NI 43-101”\) Standards

**Inferred Resource**

Polarity: negative

Definition: 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 critical mineral resources are in the Inferred category.

Evidence · text

> 58 million ounces of silver in the Inferred category

## Extracted facts

Stored fact records: 6. Some facts used in scoring do not have a stored record.

## Resource Estimates (6)

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-0)

silver

Historical result

Needs review: historical\_restatement

#### 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: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Large indicated silver resource component.

- Positive factor: High grade

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-1)

silver

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: silver
- Ticker: APGO

#### Resource Data

- Category: inferred
- Tonnes: 25000000
- Grade: 71
- Grade Unit: g/t
- Contained Metal: 58000000
- Contained Unit: oz

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Significant inferred silver resource.

- Positive factor: High grade

- Negative factor: Inferred category

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-2)

barite

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: barite
- Ticker: APGO

#### Resource Data

- Category: indicated
- Tonnes: 2700000
- Grade: 7.4
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Indicated barite resource.

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-3)

zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: zinc
- Ticker: APGO

#### Resource Data

- Category: indicated
- Tonnes: 36000000
- Grade: 0.45
- Grade Unit: %
- Contained Metal: 354000000
- Contained Unit: lb

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Indicated zinc resource.

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-4)

barite

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: barite
- Ticker: APGO

#### Resource Data

- Category: inferred
- Tonnes: 650000
- Grade: 3.9
- Grade Unit: %

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Inferred barite resource.

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/apollo-silver-initiates-preliminary-economic-assessment-for-the-calico-project--1273b7f9-75f0-4013-8240-f39b3326381c#fact-resource-facts-5)

zinc

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: zinc
- Ticker: APGO

#### Resource Data

- Category: inferred
- Tonnes: 17000000
- Grade: 0.71
- Grade Unit: %
- Contained Metal: 258000000
- Contained Unit: lb

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-10-16T00:00:00.000Z

#### Dates

- Event date: 2026-03-18T00:00:00.000Z

Reasoning: Inferred zinc resource.

## 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.