REE Stock News: Appia (CSE: API) Announces Further 2021 Assay Results and Provides Drilling Update for Alces Lake Rare Earth Property, Northern Saskatchewan
Toronto, Ontario - July 6, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") is pleased to announce assay results from the remainder of its 2021 drilling program including results from the "Western Anomaly" area of the 100%-owned Alces Lake high-grade rare earth elements and gallium property, Athabasca Basin area, northern Saskatchewan. The complete assay results are available in Table 1 by clicking on this link.
- Multiple TREO intercepts in three Sweet Chili Heat holes close to surface in the Western Anomaly (WA) (see Table 2)
- Sweet Chili Heat 21-SCH-001 intersected 3.46 metres of 3.518 wt% TREO including 11.82 wt% TREO over 0.36 metres at a depth of 6.94 metres (see Table 2)
- Sweet Chili Heat 21-SCH-002 intersected 2.40 metres of 1.271 wt% TREO, including 7.99 wt% TREO over 0.23 metres at a depth of 6.09 metres and 9.67 wt% over 0.24 metres at a depth of 21.06 metres (see Table 2)
- Sweet Chili Heat 21-SCH-003 intersected 1.30 metres of 3.28 wt% TREO, including 12.65 wt% TREO over 0.32 metres at a depth of 12.20 metres (see Table 2)
- Diablo 21-DIA-001(also located in the WA) intersected 6.13 metres of 1.836 wt% TREO including 14.96 wt% TREO over 0.66 metres at a depth of 7.64 metres (see Table 2)
- Phase 1 drilling now complete at Magnet Ridge (formerly Augier) with a total of 34 holes being completed; waiting on assay results
- A new discovery of anomalous radioactivity at Magnet Ridge West with drilled widths up to 49 metres in 10 new holes
Frederick Kozak, President of Appia said "The remaining assay results are better than the channel sample results previously released and confirm rare earths potential in the Western Anomaly area. This is a very promising new discovery area and will be the focus of future exploration. High grades found at Diablo and Sweet Chili Heat point to the potential of these two areas with much more exploration drilling to be done. On completion of drilling in the highly prospective WRCB-Magnet Ridge area, Appia will commence drilling on other prospective areas, including the Western Anomaly targets."
Appia drilled a total of 100 holes in 2021 for a total of approximately 8,076 metres. Of these holes, 14 were drilled into the Sweet Chilli Heat prospect and 4 were drilled into the Diablo prospect. Closer to WRCB, a total of 13 holes were drilled into the Biotite Lake prospect and 7 holes were drilled at Danny.
As previously announced, Appia commenced drilling in March, 2022 and to date has drilled just over 14,000 metres at WRCB, Magnet Ridge, Magnet Ridge West, Strocen and the Western Limb. Appia plans to drill up to 20,000 metres in the 2022 field season.
In the now-completed first phase of drilling at Magnet Ridge (previously known as Augier), a total of 34 holes have been drilled for a total of 5,253 metres. The initial view of the Magnet Ridge zone has been previously described and it outcrops on surface. It is approximately 300 metres in strike length, approximately 175 metres wide and has been penetrated over 100 metres down dip. The zone has similar visual characteristics to the recently discovered AMP zone at WRCB, but assay results will provide a better view of the properties of Magnet Ridge in the near future. A few assay results have been received for a portion of the first hole, but Appia is waiting on the complete results to analyze and interpret this new discovery.
Appia has now drilled a total of 10 holes into Magnet Ridge West (MRW) and is seeing similar levels of anomalous radioactivity compared to Magnet Ridge. This also appears to be comparable to the AMP zone at WRCB, although no assay results have as yet been received for MRW. Drilled width at MRW has been up to 49 metres, similar to Magnet Ridge. In some of the holes, there has been more than one section of anomalous radioactivity, separated by intervals of non-radioactive rock. Up to 12 holes are planned for MRW.
Drilling at Strocen (STR in Figure 2 below) was inconclusive with 587 metres drilled in five holes on that prospect. Recent 2022 field exploration on the Western Limb, southwest of WRCB (WEL shown in Figure 2 below), yielded two surface readings of anomalous radioactivity of 10,000 CPS and 41,000 CPS. To date two holes have been completed at the Western Limb and a third is currently being drilled. Up to eight holes may be drilled in this area.
Update on Maiden Resource Estimate
As previously disclosed, Appia is working towards a maiden resource estimate for the area. Industry delays through 2021 continue into 2022 for receipt of assay results. Appia has engaged the services of a second assay lab to process the increased volume of samples being generated by the 2022 drilling program. It is expected that the maiden resources estimate will initially be for the WRCB and Magnet Ridge areas. Timing of the report has yet to be determined but is likely closer to the end of 2022, depending on industry activity.
About the Alces Lake Project
The Alces Lake project encompasses some of the highest-grade total and critical* REEs and gallium mineralization in the world, hosted within several surface and near-surface monazite occurrences that remain open at depth and along strike.
* 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 such as electric vehicles and wind turbines (i.e: neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb)).
Appia recommenced drilling at Alces Lake in mid-March 2022 and plans to drill significantly deeper holes compared to the 100 holes (approximately 8,076 metres) drilled in 2021. This is designed to allow Appia to determine continuity at depth and along the identified REE mineralization trends as the company works towards a maiden resource estimate to be prepared in accordance with NI 43-101 for the area. With high-grade REE mineralization now identified in many locations within an area covering approximately 27 km2 of the Alces Lake block, the Company believes the project has the potential to be a world-class source of high-grade critical rare earth bearing monazite.
The Alces Lake project is located in northern Saskatchewan, the same provincial jurisdiction that is developing a "first-of-its-kind" rare earth processing facility in Canada (currently under construction by the Saskatchewan Research Council and scheduled to become operational in early 2023). The Alces Lake project area is 35,682 hectares (88,173 acres) in size and is 100% owned by Appia.
To ensure safe work conditions are met for the workforce, the Company has developed exploration guidelines that comply with the Saskatchewan Public Health Orders and the Public Health Order Respecting the Northern Saskatchewan Administration District in order to maintain social distancing and help prevent the transmission of COVID-19.
All lithogeochemical assay results were provided by Saskatchewan Research Council's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK. All analytical results reported herein have passed 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-listed company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 105,026 hectares (259,525 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.
Appia has 123.1 million common shares outstanding, 141.3 million shares fully diluted.
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Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email) email@example.com
Frederick Kozak, President: (cellular) 403-606-3165 or (email) firstname.lastname@example.org
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