Appia Energy Drills 16.10 wt% Treo over 11.65 m Including 31.04 wt% Treo over 2.7 m on the Critical Rare Earth Element Alces Lake Property
Toronto, Ontario--(Newsfile Corp. - July 16, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia) is pleased to announce the lithogeochemical assay results from diamond drill hole IV-19-003 on the Alces Lake property (the "Property") northern Saskatchewan, as part of the planned 3,000 metre diamond drilling program (the "Program").
Diamond drill hole IV-19-003 was collared 11.5 m southeast of the Ivan surface zone outcrop and intersected 16.10 wt% Total Rare Earth Oxides ("TREO") over 11.65 metres core length (true thickness has not been determined) starting at 10.25 m down hole (see Table 1), which includes a 2.7 m core length section that returned 31.04 wt% TREO starting at 13.3 m down hole. IV-19-003 was a follow-up on the high-grade rare earth element ("REE") results from the 2018 Ivan zone outcrop surface channel sampling and drill hole IV-18-001 (15.56 wt% TREO over 1.2 m). IV-19-003 was collared 5 m southeast of IV-18-001 with the same azimuth of 325 and drill hole declination of -60.
Mr. James Sykes, Appia's Vice-President, Exploration and Development, comments: "We are very impressed with the results from drill hole IV-19-003 as these together with the surface trenching and diamond drilling results from 2018 continuously showcase World-class REE mineralization and exploration potential at the Alces Lake project. We continue to drill hole test many of the geophysical gravity targets in an attempt to intersect more zones beneath the surface with high concentrations of TREO mineralization. IV-19-003 is an excellent start to the 2019 drill program and we remain highly encouraged that the remainder of the drill program will yield similar results".
The Company remains funded to complete the Program. Drill hole results will be released in the coming weeks, as they are received and analyzed by the Company. In addition to diamond drilling, the Company continues regional exploration and prospecting for additional REE surface zones.
The Alces Lake Property encompasses some of the highest-grade total and critical REE mineralization in the world, hosted within seven surface showings to which the depth extent is not known. Critical rare earth elements 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 Alces Lake 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 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 sample results were provided by Saskatchewan Research Council's ("SRC") 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 QAQC review and compilation. The technical content in this news release was reviewed and approved by Mr. Ken Wasyliuk, P.Geo, Project Manager for the Alces Lake project, 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 57,048 hectares (140,968 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 65.3 million common shares outstanding, 85.2 million shares fully diluted.
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