Appia Energy Corp. (CSE:API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) is pleased to announce the assay results from all 44 diamond drill holes of the completed 2019 Summer diamond drilling program on the Alces Lake property, northern Saskatchewan (see Table 1 for all assay results, Figure 1 and Table 2 for drill hole locations).
Appia completed 2,042.1 m in 44 short drill holes, with 40 of those drill holes intersecting the Rare Earth Element minerals system, and 19 of those drill holes intersecting high-grade Total Rare Earth Oxides reported in Table 1. Individual drill hole highlights include:
*This intersection was calculated using 0.1 wt% TREO cutoff. All other reported intervals used 1.0 wt% TREO cutoff.
True thickness has not been determined for each of the intervals mentioned, including those in Table 1.
The reported high-grade TREO intersections are hosted in one mineral, monazite. Coarse-grained monazite on Alces Lake has the potential for relatively easy metallurgical and extraction processes.
Mr. James Sykes, Appia’s Vice-President, Exploration and Development, comments: “The Program successfully proved that high-grade REE mineralization continues at depth. This highlights a vast exploration potential for the Property since our exploration efforts to date have been focused on a very small area, tested by mostly shallow drilling to less than 50 m depth, in order to understand the geological and structural controls of the System prior to expanding exploration efforts. To support this idea, we applied our working knowledge of the System in our last drill hole(s) (i.e., RI-19-001 and RI-19-002) and discovered a new high-grade mineralized body beneath the surface; the Richard zone. The Richard zone is important because; i) it proves that our minerals system exploration model works, and ii) the Richard zone might connect the Wilson and Charles zones together beneath the surface which would more than double the surface exposed high-grade mineralized strike length. The Richard zone, and those discovered beneath the Ivan zone (IV-19-012 and IV-19-003, for example), remain open along strike. These numerous discoveries reinforce our belief that the System at Alces Lake is larger and far more extensive than we currently know. We look forward to targeting more high-grade REE zones on the rest of the property.”
In the coming weeks, the Company will be initiating academic studies with universities in Europe and North America, to help better understand the origin(s) and source of the System, in particular the high-grade mineralization, and to help focus next season’s drilling towards a high-grade root zone of the minerals system. A new report from the University of Saskatchewan on preliminary metallurgical processing of high-grade REE mineralization from the Ivan zone is expected by year’s end. Concurrently, the Company will also continue geological modelling of the characteristics of the System. Starting in the New Year, the Company is planning to initiate geophysical modelling of the airborne magnetic and ground gravity data sets in order to define additional targets for the 2020 exploration drill season.
The Alces Lake Property encompasses some of the highest-grade total and critical REE mineralization in the world, hosted within numerous surface and near-surface showings to which the depth extent remains unknown. Critical REEs are defined here as those that are in short-supply and high-demand for use in permanent magnets and modern electronic applications (i.e.: Neodymium (Nd), Praseodymium (Pr) and Dysprosium (Dy)). The project area is 14,334 hectares (35,420 acres) in size and is 100% owned by Appia.
Appia considers “high-grade” REE mineralization to be >1.897 wt% TREO, which represents >75th percentile for global REO deposit grades of advanced stage projects (excluding the Gakara, Steenkampskraal and Mount Weld CLD deposits). The global REO deposit information was derived from publicly available information as of January 31, 2018, from individual company websites, SEDAR technical report filings, and the Technology Metals Research Advanced Rare Earth Projects Index (http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/)
All assay results were provided by Saskatchewan Research Council’s Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for multi-element and REE analysis.
All analytical results reported herein have passed rigorous internal QA/QC review and compilation. The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to Appia’s Board of Directors, and a Qualified Person as defined by National Instrument 43-101.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 57,048 hectares (140,968 acres) in Saskatchewan.
The Company also has a 100% interest (subject to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Return Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound) in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production. The deposits are largely unconstrained along strike and down dip.
Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia has 65.3 million common shares outstanding, 85.2 million shares fully diluted.
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