Appia Energy (CSE: API) (OTCQB: APAAF) Provides Update for 2018 Exploration Plans on High-Grade Critical Rare Earth Element Alces Lake Property
Toronto, Ontario - May 7, 2018 (Newsfile Corp.) (Investorideas.com Newswire) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I) (FSE: A0I.F) (FSE: A0I.MU)(FSE: A0I.BE) (the "Company" or "Appia) is pleased to provide an update of preparations for the summer 2018 exploration program (the "Program") on the Alces Lake property (the "Property"), northern Saskatchewan. The Alces Lake property hosts some of highest-grade total and critical rare earth element ("REE") mineralization in the world, hosted within five broad surface showings that remain open in all directions (see *Note below).
An excavator and field supplies were delivered to a staging area at Uranium City, 30 km southwest of the Property. The excavator will increase efficiency and safety for the overburden stripping and trenching part of the Program. In addition, the Company has commissioned construction of a helicopter-portable track-mounted diamond drill for the drilling part of the Program. The custom-built drill will reduce drill costs and helicopter reliance, and will allow more metres to be drilled this summer.
The Program is currently scheduled to start in May, with initial surface exploration including overburden stripping and trenching in the Wilson and Ivan zones where sample grades of over 30 and 49 weight % Total REO were encountered in 2017. Diamond drilling will follow on selected targets. The Company anticipates producing an NI 43-101 compliant Inferred mineral resource estimate by year end 2018. All necessary permits for the Program are in-hand. The actual start date will depend on lake ice break-up to allow float plane accessibility.
*Note: The Alces Lake REE grades were compared with global REE deposit grades. The global REE 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/).
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 discovering high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, Eastside, and Otherside properties. The company now holds the surface rights to exploration for about 73,033 hectares (180,467 acres) in Saskatchewan.
The company also has NI 43-101 compliant resources of 8.0 M lbs U3O8 and 47.7 M lbs Total REE Indicated and 20.1 M lbs U3O8 and 133.2 M lbs Total REE Inferred in the Teasdale Zone plus 27.6 M lbs U3O8 Inferred in the Banana Lake Zone in the historic mining camp of Elliot Lake in Ontario (previously reported in the Company's news release dated August 14, 2013). The resources 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 450 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia currently has 52.3 million common shares outstanding, 65.3 million shares fully diluted.
The technical content in this news release was reviewed and approved by Thomas Skimming, P.Eng, a Director of Appia, and a Qualified Person as defined by National Instrument 43-101.
Cautionary Note Regarding Forward-Looking Statements:
This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward- looking statements and shareholders are cautioned not to put undue reliance on such statements.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) email@example.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
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