Apex passes gold resource milestone at Wiluna

As a result of drilling over the past six months, Apex Minerals has announced...

  As a result of drilling over the past six months, Apex Minerals has announced a substantial increase in Mineral Resources at its Wiluna and Wilsons deposits in Western Australia.Drilling at Wiluna has focused on a small area within just 200m of existing mine development and has more than tripled the Mineral Resource in this area to 459,000 ounces, increasing the total Wiluna resource to over one million ounces. Apex has also doubled the Mineral Resource at its nearby Wilsons deposit to over 300,000 ounces. In its first six months of drilling, Apex has added approximately 440,000 ounces of gold to its resource inventory at Wiluna and Wilsons. The exploration success at Wiluna and Wilsons since acquiring the projects in mid-2007 has exceeded the company's expectations. Apex Managing Director, Mark Ashley said: “These results confirm the potential for ongoing drilling to significantly increase resources at the Wiluna and Wilsons projects, which will feed high-grade ore to the Wiluna Processing plant.” Apex has commenced underground mine design, with underground mobile equipment already selected, ensuring the company is on track to pour first gold from the Wiluna project toward the end of 2008. Mr Ashley said the resource upgrade had been achieved well ahead of expectations and that drilling will continue at Wiluna and Wilsons throughout 2008. “Apex is on track to achieve its previously stated target of establishing reserves of one million ounces, sufficient to support production for five years, upon recommencement of production at Wiluna,” he said.