Apollo Gold Shines on New Mining Projects in the U.S. and Canada

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Recently Formed, Apollo Gold Corporation (TSX:APG)(Denver, Colorado) is making progress on several new gold mining projects. In the U.S., the company is currently permitting the new Standard Gold Mine in Nevada. The Standard Mine will operate as a satellite mining operation to the company's Florida Canyon Mine, located in Imlay, Nevada. The Standard Mine is only 4.5 miles away from Florida Canyon and will supplement production from the existing mine, which is nearing the end of its life cycle.

Involved in the project at Standard will be a new 25 million ton cyanide heap leach pad and associated pumping and piping facilities. Design of the leach pad has been completed. The company is studying and has not decided whether it will relocate crushing facilities to the new mine. The company expects state permit approval by the end of the year and then will begin the construction process by spring with a winter 2004 start-up schedule.

The company has also spent in excess of $20 million to get its Montana Tunnels Mine up and running. The Montana Tunnels gold mine is located six miles west of Jefferson City, in Jefferson County, Montana. Currently the company is installing a 5.5' x 7' primary jaw crusher and then will convert the existing AG mill to a SAG (Semi-autogenous Grinding) mill. This work should be complete by late summer.

Next on Apollo's list for development is the Black Fox gold mining project located east of Matheson, Ontario. Formerly operated as the Glimmer mine, Apollo purchased 100 percent of the property last year and is currently performing exploration drilling and prefeasibility studies to construct an open pit gold mining operation along with the existing underground mining operations, which were shut down last year.