CALICO MOUNTAINS – Apollo Silver Corp., a Canada-based exploration company, announced Wednesday, that 166 million ounces of silver is contained in the Calico Mountains. According to Apollo Silver CEO Tom Peregoodoff, the estimate confirms Calico as one of the largest undeveloped silver deposits in the US and positions Calico, located nine miles north of Barstow, as one of the largest globally.
“This resource estimate represents the achievement of a significant milestone,” said Peregoodoff. “Calico represents an exciting development opportunity and provides low risk leverage to future silver prices. For investors looking for exposure to silver in a Tier 1 jurisdiction, Calico represents a compelling opportunity.”
Silver is currently priced at $23.72 an ounce.
The company sees growth opportunities in extending the mineralization footprint and expanding the mineral inventory by defining the extent of gold and barite mineralization.
Historically, the Calico Mining District produced over $20,000,000 of silver, from 1880 to 1940, ranking the district as the largest silver producer in California. Founded in 1881 as a silver mining town, today it is a county park.
Apollo’s Calico Silver Project consists of the Waterloo property – 21 unpatented claims of 1,352 acres and the adjacent Langtry property which has 20 patented claims of 413 acres in addition to 38 unpatented lode mining claims of 767 acres. A mining claim is a parcel of land for which the claimant has asserted a right of possession and the right to develop and extract a discovered, valuable, mineral deposit.
Mining claims can be filed with the Bureau of Land Management for federally-administered lands in Alaska, Arizona, Arkansas, California, Colorado, Florida, Idaho, Louisiana, Mississippi, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming.
For more information about the Apollo Silver Corp. visit https://apollosilver.com/