Toronto, Ontario - June 11, 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 announce that a field exploration crew has mobilized to the Alces Lake property (the "Property"), northern Saskatchewan, for the summer 2018 exploration program (the "Program"). The Property hosts some of the 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). The Property is 1,518 hectares (3,751 acres) in size.
Phase I of the Program will include a crew of 7 individuals to complete work camp construction, do a detailed ground radiometric survey covering 300 m by 150 m of the REE occurrences, as well as further prospecting to follow-up the 2017 prospecting results in the Danny and Hinge zones. A Kubota KX 121 excavator will be brought to the site for stripping and trenching a 200 m by 100 m area in the Wilson and Ivan zones where sample grades of over 30 and 49 weight % Total Rare Earth Oxides respectively were encountered in 2017. (See news release, October 31, 2017)
Phase II of the Program will include a crew of 8 to 10 individuals and will consist of approximately 2,000 metres of diamond drilling on selected high-priority targets over a 200 m strike length defined during Phase I. Phase II is expected to be completed in September 2018.
Geochemical and radiometric results will be announced as they are received and reviewed by the Company. The Company further anticipates producing a NI 43-101 compliant Inferred Mineral Resource estimate by year end 2018. All necessary permits for the Program are in-hand.
*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 prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, Eastside, and Otherside properties. The Company 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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