Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) is pleased to report the assay results from the completed diamond drill program on the Loranger property. The Property is located 28 km southeast of Cameco’s Rabbit Lake mill, Athabasca Basin, northern Saskatchewan.
Highlights of the winter drilling include 3.15 m of 0.032 wt% U3O8 at 96.75 m drill hole depth in hole LOR-19-03 and 0.7 m grading 0.066 wt% U3O8 at 105.5 m drill hole depth in hole LOR-19-02. U3O8 assay results for the drill holes are presented in Table 1. A total of 1,063 metres was completed in eight drill holes covering three target areas (Figure 1).
Mr. James Sykes, Appia’s Vice-President, Exploration and Development, comments: “We are pleased with the drill results. First, we’ve confirmed uranium mineralization in two target areas, and especially the drill holes within Target Area 2 (LOR-19-01 to LOR-19-04A), a 900 m long area, all intersected uranium mineralization. Second, we observed uranium “depletion” associated with a massive hydrothermal fluid fault network system encountered in Target Area 1 (LOR-19-07A and LOR-19-08), indicating uranium has been mobilized and potentially “re-deposited” somewhere along the structural trends. Third, the uranium mineralization drill hole assay results mostly correlate with hydrothermal alteration styles and re-mobilized ductile/brittle structural zones encountered in both target areas. In particular, we observe redox fronts (hematite +/- limonite with bleaching) showing elemental ratios (Up/Ut, Tht/Ut, Pb206/Pb204) typical of uranium fluid pathways. Fourth, boron (a uranium pathfinder element) is commonly elevated (i.e. >100 ppm and at least more than twice the background) in the re-mobilized graphitic/carbonaceous material ductile/brittle structural zones, with drill hole LOR-19-08 exhibiting the highest concentrations of boron (121 to 263 ppm B).”
Together with the 2017 program, the Company has tested only 5 of the 22 previously identified gravity low targets and covered only 2.3 km of the 94.0 total km of conductive strike length; with a cumulative total of 15 drill holes and 2,524 total metres drilled. The Company plans to continue exploring the Property with diamond drilling, ground gravity geophysics, and ground radiometric prospecting in combination with geological mapping.
Split core samples were taken over 0.1 to 1.2 m core lengths covering scintillometer readings, hydrothermal alteration and ductile/brittle structures. All the drill core samples were shipped from the project site and hand-delivered to the Saskatchewan Research Council’s Geoanalytical Laboratory in Saskatoon, SK.
Geochemical assay results were provided by SRC’s Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for multi-element analysis using the ICPMS and Boron Lab Packages. All reported values were provided from SRC as U ppm and were converted to U3O8 wt% by Appia using a conversion factor of 1.1792/10000.
All geochemical results reported herein have passed rigorous internal QAQC review and compilation. The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, 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 (“REE”) 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 61,364 hectares (151,633 acres) in Saskatchewan.
The Company also has a 100% interest 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.
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 65.0 million common shares outstanding, 86.2 million shares fully diluted.
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