Appia Files NI 43-101 Technical Report on Maiden Indicated and Inferred Mineral Resource Estimate for the PCH Ionic Adsorption Clay Project in Goias, Brazil
Appia Files NI 43-101 Technical Report on
Maiden Indicated and Inferred Mineral
Resource Estimate for the PCH Ionic
Adsorption Clay Project in Goias, Brazil
6.6 Million Tonnes Indicated Grading 2,513 ppm TREO
46.2 Million Tonnes Inferred Grading 2,888 ppm TREO
Toronto, Ontario--(Newsfile Corp. - April 16, 2024) - Appia Rare Earths & Uranium Corp.
(CSE: API)
(OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0)
(the "
Company
" or
"Appia"
) announced
today that an independent technical report prepared in accordance with National Instrument 43-101 ("
NI
43-101
") has been filed for the PCH ionic adsorption clay (IAC) project (the "
PCH Project
") located in
the State of Goiás, Brazil. The report entitled '
Technical Report on the Maiden Mineral Resource
Estimate for The PCH Project, State of Goiás, Brazil
' dated April 15
th
, 2024 with an effective date of
February 1, 2024 (the "
PCH MRE Report
"). The PCH MRE Report was co-authored by Yann Camus,
P.Eng., Marc-Antoine Laporte, P.Geo., M.Sc., and Sarah Dean, P.Geo., of SGS Canada Inc. ("
SGS
"),
all of whom are independent qualified persons under NI 43-101. The PCH MRE Report is available for
review on SEDARplus (
www.sedarplus.com
) and the Company's website
www.appiareu.com
.
There are no material differences in the PCH MRE Report from those results disclosed in the
Company's press release issued March 1, 2024. (
Click Here
).
Stephen Burega, President, commented, "The PCH MRE Report has outlined both exceptional grade
and volume across both Target IV and Buriti zones which cover a total area of approximately 480
hectares. Within Target IV Appia has identified a high-grade zone with an inferred resource totalling 13.5
Mt at an average grade of 7307 parts per million (PPM) TREO."
He continued, "The data generated from the first 300 drill holes at PCH has provided our team with a
strong geological signature to track and confirm additional high-grade mineralization at newly identified
ionic adsorption clay targets across the remaining tenements which encompass a very large area of
over +40,000 hectares. The phase II auger drilling program is currently well underway, and we look
forward to reporting on results as data becomes available."
The Mineral Resource Statement prepared by SGS for the PCH Project is detail below.
Table 1: PCH Mineral Resource Estimate.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/205668_table1appia.jpg
1
.
The MRE has an effective date of the 1
st
of February 2024.
2
.
The Qualified Person for the MRE is Mr. Yann Camus, P.Eng., an employee of SGS.
3
.
The MRE provided in this table were estimated using current Canadian Institute of Mining,
Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves, Definitions and
Guidelines.
4
.
Mineral Resources that are not Mineral Reserves have not demonstrated economic viability.
Additional drilling will be required to convert Inferred and Indicated Mineral Resources to Measured
Mineral Resources. There is no certainty that any part of a Mineral Resource will ever be converted
into Reserves.
5
.
All analyses used for the MRE were performed by SGS GEOSOL by ICM40B: Multi Acid Digestion
/ ICP OES - ICP MS and by IMS95R: Lithium Metaborate Fusion / ICP-MS.
6
.
MRE are stated at a cut-off total NSR value of 10 US$/t. The full price list and recovery used to
estimate the NSR is in Table 2. The estimated basket price of TREO is US$26.98.
7
.
GEOVIA's Whittle
TM
software was used to provide an optimized pit envelope to demonstrate
reasonable prospection for economic extraction. Preliminary pit optimization parameters included
overall pit slope of 30 degrees, in-pit mining costs of $2.10, processing and G/A costs of $9/t, and
overall mining loss and dilution of 5%. Full details of the preliminary pit-optimization parameters
can be found in Table 2. The basket price and oxides price list in Table 2 are based on forward-
looking pricing. These future prices are predicted based on market trends, economic forecasts,
and other relevant factors. The actual prices may vary depending on changes in these factors.
8
.
Figures are rounded to reflect the relative accuracy of the estimate and numbers may not add due
to rounding.
9
.
Resources are presented undiluted and in situ, constrained within a 3D model, and are considered
to have reasonable prospects for eventual economic extraction.
10
.
Bulk density values were determined based on physical test work and assumed porosities for
each type of material.
11
.
Total Rare Earth Oxides: TREO = Y
2
O
3
+ Eu
2
O
3
+ Gd
2
O
3
+ Tb
2
O
3
+ Dy
2
O
3
+ Ho
2
O
3
+ Er
2
O
3
+
Tm
2
O
3
+ Yb
2
O
3
+ Lu
2
O
3
+ La
2
O
3
+ Ce
2
O
3
+ Pr
2
O
3
+ Nd
2
O
3
+ Sm
2
O
3.
12
.
Magnetic Rare Earth Oxides: MREO = Sm
2
O
3
+ Tb
4
O
7
+ Dy
2
O
3
+ Pr
6
O
11
+ Nd
2
O
3.
13
.
Heavy Rare Earth Oxides: HREO = Sm
2
O
3
+ Eu
2
O
3
+ Gd
2
O
3
+ Tb
4
O
7
+ Dy
2
O
3
+ Ho
2
O
3
+ Er
2
O
3
+ Tm
2
O
3
+ Yb
2
O
3
+ Lu
2
O
3.
14
.
The MRE may be materially affected by environmental, permitting, legal, title, taxation, socio-
political, marketing, or other relevant issues.
Phase II Auger Drilling Across the PCH Project
The Company also wishes to announce the expansion of its auger drilling exploration program aimed at
the identification of new Ionic Adsorption Clay (IAC) targets on the remaining claims to the east and north
of Target IV and Buriti Zones, on its 40,963.18 ha. PCH project within the Goiás State of Brazil. The
geological environment of the remaining tenements is equivalent to the one characterized on Target IV,
and it will be tested during the Phase II auger drilling program.
The selection of the new target zones to be tested was based on three primary factors including:
1
.
A similar geological formation which the Company has identified as the Iporá Granite;
2
.
Similar weathering profile development with well-developed transition zone between Pedolith and
Saprolites where the Ionic Adsorption Clays occur; and
3
.
Positive showing of the related gammaspectometric geophysical response.
Map 1 - Location map of Appia's PCH Project area including a total of 22 claims across 40,963.18 ha.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/205668_d237214d34ab3888_002full.jpg
Qualified Person
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.
The MRE has been prepared by Yann Camus, P.Eng., of SGS Canada Inc ("SGS") from Blainville,
Quebec and is a Qualified Person (QP) as defined under NI 43-101. He is responsible for the MRE and
has reviewed and approved the scientific and technical information related to the MRE contained in this
news release.
About Appia Rare Earths & Uranium Corp. (Appia)
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 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a
100% interest in 13,008 hectares (32,143 acres), with rare earth elements 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 (See June 9
th
, 2023 Press Release - Click
HERE
) which is
40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11
th
, 2024 Press
Release -
Click HERE
).
Appia has 136.3 million common shares outstanding, 144.5 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 (
X
,
,
) please feel
free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please
click here
.
Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(e)
Stephen Burega, President
(c) (647) 515-3734
(e)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/205668