Mining magnate's grandson joins Apex

The grandson of the late iron ore prospector Peter Wright, a long time business partner of mining tycoon Lang Hancock, has been appointed to Apex Minerals ML's board in what is understood to be his first public company venture.

The company today announced the appointment of AMB Holdings managing director Todd Bennett as non-executive director.

AMB Holdings is a private investment company with assets including a 25 per cent stake in the Rio-operated Rhodes Ridge iron ore project in the Pilbara.

Mr Bennett is also an executive director of unlisted Finance and Energy Exchange, a provider of energy and financial derivatives with a focus on Asia.

Meanwhile Apex today reported intersections as high as 29.2 grams per tonne (g/t) at its East Lode North prospect at the Wiluna project.

The company plans to start open-pit mining at the project in October.

The probable reserve at the project under Australia's mineral reporting code is 264,000 tonnes of ore containing 30,000 ounces of gold at 3.3 g/t.

A revised resource and reserve estimate is expected during the current quarter.