Black Fox Project ( High Grade Gold Deposit ) On October 23, 2008, Apollo commenced removal of the glacial till material which overlays the open pit. This removal is scheduled to be completed in May 2009. Mining of the open pit is expected to commence in March 2009. Apollo has placed orders for the long lead time mining equipment, and all items required to commence mining are scheduled to be on site in January and February 2009. We expect that, by the second quarter of 2009, the open pit will produce 1,500 tonnes of ore per day, which will be sufficient to feed the mill. Based on this assessment, we have decided to defer underground mining to periods after 2009. Mill Complex - Apollo has recently reviewed the costs associated with upgrading the Black Fox mill complex to process 1,500 tonnes of ore per day (1,650 tonnes at a 90% availability). It is estimated that the cost of the upgrade would be $17.0 million and that the upgrade could be completed by April 2009. Apollo is currently in the process of placing orders for the long lead time items required for mill upgrade, with the key item being a new 12ft x 18ft 1200 kw ball mill to enhance the grinding circuit, which is scheduled to arrive in March 2009.

Please click on our logo to visit our website.