Apollo Solar Announces Results of Independent Technical Review of Dashuigou and Majiagou Tellurium Projects
Inc., (OTC Bulletin Board: ASOE; “Apollo Solar Energy” or “the Company”), a
leading vertically integrated miner, refiner and producer of tellurium (Te)
and high-purity tellurium based metals for specific segments of the global
electronic materials market, today announced that
(“BDASIA”), a wholly-owned subsidiary of
Dolbear”) of
“Independent Technical Review of the Dashuigou and Majiagou Tellurium Projects
in
of the Company engaged
independent technical review of the Dashuigou and Majiagou Projects and to
produce a technical report for the resource estimates of the two properties.
The technical review covers the Dashuigou and Majiagou tellurium projects
and the surrounding exploration area, which are controlled by Apollo Solar
Energy through its subsidiaries and affiliates in
visited the Dashuigou and Majiagou tellurium project site, reviewed the
project mineral rights, geology and mineralization, assay database, and
resource estimation. Mineral resources of the properties have been reviewed in
accordance with the Australasian Code for Reporting Exploration Results,
Mineral Resources and Ore Reserves (the “JORC Code”) prepared by the Joint Ore
Reserves Committee of the Australasian Institute of Mining and Metallurgy,
Australian Institute of Geoscientists and Minerals Council of
1999 and revised in 2004.
Based on BDASIA’s review, the mineral resource estimates as of
31, 2008
summarized in the table below. The resource estimates have generally been
confirmed by small scale mine production from 2002 to 2008 and sampling by an
independent mining consultant from
dilution and mining losses.
Mineral Resource Estimates for the Dashuigou and Majiagou Projects -
December 31, 2008
Contained
Project JORC Tonnage Grade (%) Metal (t)
Resource Class (t) Te Bi Te Bi
Dashuigou Indicated 9,400 1.40 1.79 131 168
Inferred 20,800 0.51 0.77 105 160
Subtotal 30,200 0.78 1.09 236 328
Majiagou Indicated 8,600 1.92 3.07 165 263
Inferred 4,800 2.22 3.60 107 174
Subtotal 13,400 2.03 3.26 272 437
Total Indicated 18,000 1.65 2.40 296 431
Inferred 25,600 0.83 1.31 212 334
Total 43,600 1.17 1.76 508 765
Note: All tonnage in the table is in (metric) tonnes. The resource
estimates in the table are in-situ quantities, and significant
mining dilution and mining losses may occur during mining of the
estimated resources as these resources occur mostly in small narrow
veins.
In the report, BDASIA indicated that the Dashuigou and Majiagou tellurium
projects are the only reported mineral deposits in which tellurium is found as
the primary economic element in the world. BDASIA further indicated that there
are more mineralized veins within the Dashuigou and Majiagou mining license
areas and in the Dashuigou exploration license area that have not been
sufficiently explored to date, therefore, indicating a significant upside
potential for the estimated resources.
“The undertaking of an independent technical report by
Company, Inc. is a very important step in the future growth of Apollo Solar
Energy,” said Mr.
“
consulting firms in the world, with previous experience on several mining
projects in
project for Apollo Solar Energy.”
About Apollo Solar Energy, Inc.
Apollo Solar Energy, Inc., through its subsidiaries and affiliates in
and high-purity tellurium based metals for specific segments of the global
electronic materials market. The Company’s products include CdTe thin-film
compounds, CIGS thin-film compounds, Ultra- high purity metals, and
commercial-purity metals.
About
industry consulting firms in the world. Since 1911, we have specialized in
studies for commercial and multilateral financial institutions, mining
companies, governments and governmental agencies, legal firms, and other
parties with interests in the minerals industry.
experience covers the full spectrum of technical, operational and financial
issues in a broad range of commodities including base and precious metals,
coal, industrial minerals, diamonds and gemstones, ferrous metals, and
construction materials.
Safe Harbor Statement
The statements contained herein that are not historical facts are
“forward-looking statements” within the meaning of Section 21E of the
Securities and Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements may be
identified by, among other things, the use of forward-looking terminology such
as “believes,” “expects,” “may,” “will,” “should,” or “anticipates,” “expect”
or the negative thereof or other variations thereon or comparable terminology,
or by discussions of strategy that involve risks and uncertainties. In
particular, our statements regarding the potential growth of the markets or
forecasting financial results are examples of such forward-looking statements.
The forward-looking statements include risks and uncertainties, including but
not limited to, general economic conditions and regulatory developments, not
within the Company’s control. Risks and other factors discussed herein and
expressed from time to time in Company filings with the Securities and
Exchange Commission could cause actual results and developments to be
materially different from those expressed or implied by such statements. The
forward-looking statements are made only as of the date of this filing, and
the Company undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
SOURCE Apollo Solar Energy, Inc.