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TORONTO, ON, July 18, 2023 - (ACN Newswire) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (the "Company" or "Appia") Appia is pleased to announce that after the successful completion of its evaluation of historic and due diligence work conducted by the Company's consulting industrial minerals expert, Mr. Don Hains, P.Geo, that it has commenced an aggressive auger and reverse circulation (RC) drill campaign to delineate a potential resource estimate on Target #4 on its ionic clay PCH project in Goias State, Brazil.
SUMMARY:
- All data from diamond and auger drilling, trenching, stream sediment sampling, and various geophysical testing methods covering Target #4 on the extensive 17,551 ha PCH project have been analyzed and plotted.
- The results revealed significant exploration potential with impressive values that often surpass known ionic clay deposits in Brazil, particularly for the highly valuable heavy rare earths Terbium and Dysprosium.
- Notably, the Company's evaluation of the data identified an average concentration of Total Rare Earth Elements (TREE), as determined by auger sampling, of 1,291 ppm with the highest recorded concentration reaching 16,648 ppm.
- Historic work by the Vendors indicates that the magnetic REEs represent +/- 25% of the TREEs found within the project area.
- A Lidar topographic survey covering approximately 1,700 ha, encompassing the southern, western, and northwestern extensions of Target #4, has commenced.
- Auger and reverse circulation (RC) drilling campaigns are being conducted over the coming weeks with approximately 300 holes planned across the Target #4 area.
"Our full-time Brazilian technical team has developed a comprehensive exploration plan which is currently being executed and we are looking forward to receiving results," stated Stephen Burega, President. "The plan includes a Lidar topographic survey covering approximately 1,700 ha, and 300 proposed auger and RC drill holes across our primary Target #4. Additionally, an extensive ground truthing program across the remainder of the project area is planned with initial stream sediment sampling and mapping programs."
Figure #1 - The figure showcases a Lidar survey area displayed over satellite imagery, with the Analytical Signal superimposed. The blue polygon highlights the Target #4 area, while the white dots represent the locations where auger drilling has been carried out by the vendors.
https://images.newsfilecorp.com/files/5416/173914_170b864504ae7aac_005.jpg
"In total, approximately 4,500 m of auger and RC drilling is planned with +/-2,500 m focused on Target #4 at 100 m grid spacing and 2,000 m of drilling will explore new targets spread across the project area that have received limited exploration to date but exhibit similar geological, geophysical and geochemical signatures to Target #4," Burega continued.
"Appia is thrilled with the progress made and the promising results thus far," stated Tom Drivas, CEO. "The company remains committed to advancing its exploration plans, aiming to promptly gather significant data throughout the year, and to work towards estimating a maiden mineral resource in the coming months."
BACKGROUND ON THE PCH PROJECT
The PCH Project is located within the Tocantins Structural Province in the Brasilia Fold Belt, more specifically, the Arenopolis Magmatic Arc. The PCH Project is 17,551.07 ha. in size and located within the Goias State of Brazil. It is classified as an alkaline intrusive rock occurrence with highly anomalous REE and Niobium mineralization. This mineralization is related to alkaline lithologies of the Fazenda Buriti Plutonic Complex and the hydrothermal and surface alteration products of this complex by supergene enrichment in a tropical climate. The positive results of the recent geochemical exploration work carried out to date indicates the potential for REEs and Niobium within lateritic ionic adsorption clays.
The technical content in this news release was reviewed and approved by Mr. Don Hains, P.Geo, Consulting Geologist, and a Qualified Person as defined by National Instrument 43-101.
ABOUT APPIA RARE EARTHS & URANIUM CORP.
Appia is a publicly traded Canadian 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 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to a 70% interest in the PCH Project which is 17,551.07 ha. in size and located within the Goias State of Brazil. (See June 9th, 2023 Press Release - Click Here)
Appia has 130.5 million common shares outstanding, 143.5 million shares fully diluted.
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 a guarantee 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 more information, visit www.appiareu.com
As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (Twitter, Facebook, LinkedIn) please feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please click here. sburega@appiareu.com
For further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957 or (email) tdrivas@appiareu.com
Stephen Burega, President: (cell) 647-515-3734 or (email) sburega@appiareu.com
Topic: Press release summary
Source: Appia Rare Earths & Uranium Corp
Sectors: Metals & Mining, Daily Finance, Funds & Equities
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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