Apollo plans $24m investment.
| Position | Timmins Report - Brief Article |
With a fresh infusion of cash from an over-subscribed brokered offering, Denver-based Apollo Gold Corp. is shifting its attention to Timmins.
The company's Black Fox property near Timmins will get the bulk of that money as Apollo pushes it towards eventual production.
"Half that money (about $24 million (Cdn) is for the Black Fox project," said Dave Young, vice-president of business development. "That is to continue Phase-2 development trying to understand what is going on with that ore body.
"We will establish drill stations on locations underground that will allow us to be much closer...
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