Appia Rare Earths & Uranium - A Year in Review
Appia Rare Earths & Uranium - A Year in
Review
President's Letter to Stakeholders and Shareholders
Toronto, Ontario--(Newsfile Corp. - December 28, 2023) - Appia Rare Earths & Uranium Corp.
(CSE:
API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0)
(the "
Company
" or "Appia") reviews
successes and achievements over 2023.
This past year has been extraordinary for the Company. Not only have we continued to move forward
with our Canadian assets - with our priority focus on our flagship Alces Lake project in Northern
Saskatchewan - but we have also expanded well beyond our Canadian borders into South America with
the signing of an Earn-In Agreement on the PCH Ionic Adsorption Clay project, in Goais State, Brazil.
Expanding Our Asset-Base to Brazil
On
June 9
th
, Appia announced that it had entered into an earn-in agreement to acquire up to 70%
interest in the PCH project, a high-grade Ionic Adsorption Clay (IAC) Rare Earth Elements (REE) project
in Goiás State, Brazil.
The acquisition has proved to be a monumental win for the Company as an expedited exploration
program resulted in more than 300 reverse circulation (RC) and auger drill holes delineating our first
core zone, Target IV, continuously returning REE assay results that surpass most IAC industry
benchmarks. Target IV covers an area of 198 hectares of a very large land package of over 17,000
hectares.
This target area has proven to be 'best of class'
and we are now working closely with SGS
Geological Services (SGS) to prepare our mineral resource estimate (MRE) on this exciting high-grade
target zone with an average thickness of over 11 meters with certain sub-zones exceeding an average of
over 19 meters thickness.
On
October 31
, the Company announced a monumental development in our story at PCH - PCH-RC-063
is a drill hole that reported 24 metres of mineralization from surface,
with a total weighted average of
27,188 ppm or 2.72% of Total Rare Earth Oxides (TREO)
and remains open at depth. Even more
intriguing is the fact that several elements have surpassed the upper detection limit of the assay method
being used…which means that the Company anticipates higher results to be received in the future once
re-assaying is complete.
The PCH project is situated in a jurisdiction supportive of mining activities with many large-scale, major
mining corporations actively exploring and mining located just +/- 30 km of the city of Iporá
We are
extremely fortunate to have the support of both local and state government, and the presence of optimal
infrastructure.
The PCH project is located in a mining friendly region known for cattle raising and farming
and is well distanced from the Amazon rain forest region. Appia couldn't be more pleased as our PCH
project represents exceptional exploration opportunity based on initial assay results, where all drill holes
have consistently yielded mineralization and surpassed all our initial expectations, affirming the project's
substantial potential.
A Collaborative Approach
SGS Geological Services:
Appia recently engaged SGS Geological Services led by Mr. Marc-Antoine Leporte to prepare a Mineral
Resource Estimate (MRE) on its high-grade Ionic Adsorption Clay REE Target IV project, and to
prepare a companion NI 43-101 technical report on its +17,000-hectare PCH Project, first
announced
HERE
in a press release dated November 7th.
SGS, with vast experience in precious metals, base metals, and critical minerals, including rare earths,
was selected for their unparalleled expertise in metallurgy and process development. This marked a
significant advancement in the exploration and potential development of the PCH Project, located
approximately 30 km from the city of Iporá, Goiás State, Brazil.
Appia's extensive exploration program has been led by Carlos Bastos, our Brazilian Qualified Person
(QP) and lead geologist along with our Canadian consulting geologist Mr. Don Hains, who is an
industrial minerals expert and international thought-leader on the identification and development of Ionic
Adsorption Clay REE projects worldwide. Also supporting this initiative is Senior Geologist, Leo Fraga,
who has been Appia's lead onsite managing drilling, and Fabricio Santos, Appia's Brazilian geophysics
and processes Manager.
Together, our Brazilian team has performed extremely well in moving this
program forward quickly and efficiently.
With 300 auger, reverse circulation (RC), and diamond drill (DD) holes across the PCH property, as well
as a recently flown LiDAR survey over the main zones, including the Target IV zone, Appia has
accomplished an extraordinary amount of work in a very short window of time…and we believe, our
results will position the Company among the top REE companies in the world.
SRC REE Processing Facility in Saskatoon, Saskatchewan, Canada:
Appia and The Saskatchewan Research Council (SRC) have enjoyed a long-term working relationship
when it comes to hard rock monazite, and Appia's Alces Lake project in Saskatchewan. We have used
their team and facilities for many years to assay our drill core from our flagship Alces Lake project, and
more recently, engaged them in a characterization initiative that will significantly assist Appia in our
further delineation of core targets and planning for the 2024 work season.
It is noteworthy to mention that the SRC has designed and recently commissioned Canada's inaugural
proprietary solvent extraction cell technology for REE, as announced
HERE
. This ground-breaking
technology marks a crucial advancement in the field, particularly in the efficient separation processes of
hard rock monazite hosted rare earth elements.
The recently established solvent extraction cell technology by the SRC represents a milestone in
pioneering innovative solutions for the rare earths industry at home and abroad. SRC's commitment to
technological advancement solidifies its prominent role as a key player, contributing significantly to
progress and innovation in the Canadian rare earths sector.
Solvent extraction is a necessary step that
makes REEs more valuable. Once this stage is complete, the separated rare earths can be converted
into metal in a metal smelting unit.
As Appia's ongoing exploration programs bring us closer towards the
establishment of a MRE at Alces Lake, having this technology, and potential partner in-province,
provides for additional leverage to continue to build our understanding of this flagship project.
Project Development
PCH Ionic Adsorption Clay REE Project, Goiás State, Brazil:
The PCH project comprises 10 claims in this extremely mining-friendly region of Brazil. Far removed
from rainforests, the PCH property is found within a highly prospective region with multiple active mining
operations and significant exploration activities currently underway and easily accessible by roads with
the necessary infrastructure in place to move this project forward when needed. Additionally, the area
offers easy access to a skilled labour pool and has water and power in-situ.
Our results to date have shown the presence of high concentrations of REE within soft clay and saprolite
zones which has facilitated efficient exploration and drilling campaigns and has allowed for rapid
completion of a significant amount of work over a brief period by our dedicated Brazilian team of
geologists and support team.
This region's climate and the geological setting has produced the 'perfect storm' for the development of
a weathered profile that produces the ionic clay zones. A warmer climate allows for year-round
exploration, presenting more opportunities to maximize data acquisition and enhance overall project
efficiency.
At the South-West Extension Zone of Target IV, RC drilling successfully expanded the overall total depth
of this high-grade mineralization to an average of approximately 19 metres across the zone, and we
have observed mineralization throughout the length of all RC and auger holes. For instance, holes PCH-
RC-063 with a total depth of 24 m and PCH-RC-067 with a total depth of 11 m, each yielded grades
exceeding 24,000 ppm or 2.4% TREO and over 5,000 ppm or 0.5% MREO at the bottom of each drill
hole.
Ionic clay rare earth deposits are usually found within the top 10-20 m from surface; they are easier to
mine; they tend to be more environmentally friendly because they contain low or no radioactivity; they
exhibit simpler metallurgy and are therefore easier and cheaper to process; and they contain good
amounts of both the very valuable heavy and light magnet rare earths that are in high demand for cleaner
electrification and use in a large number of high tech applications.
Most recently, we announced impressive results at the new Scandium, Cobalt and REE Buriti Target
south of the nearby Target IV zone. This discovery opens the potential of a promising new target zone for
exploration and development and represents the first time that we have intersected significant
continuous levels of Scandium Oxide (Sc2O3), Cobalt Oxide (CoO), and Rare Earth Oxides (REO)
mineralization in the same RC drill hole.
The Buriti Target is hosted within mafic and ultramafic rock
formations associated with the Tertiary-age regional alkaline complex which is quite different from the
underlying lithology at Target IV which consists of granites and alkali breccias.
Alces Lake REE Project, Athabasca Basin, Saskatchewan, Canada:
A comprehensive 4,000-metre drill campaign was undertaken this year at the Company's 100% owned
flagship Alces Lake Project to drill-test a series of high-potential priority targets across the entire
property, covering an area extending approximately 20 kilometres in length and 5 to 7 km in width.
Earlier this year the Company announced the completion of an NI 43-101 technical report on Alces Lake
based on previous exploration drill data. Please
click here
for a full copy of the NI 43-101 technical
report.
The Company has received all its 2023 summer geochemical assay results, and we are currently
compiling, reviewing, and interpreting these results for all the investigated areas and as results and as
interpretations become available, a series of news releases will be published.
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.
Market Review
Global REE Markets:
Over the course of this year, China instituted multiple bans on the export of various critical minerals,
equipment and technology essential for constructing rare earth magnets, as well as technology for
extracting and separating critical materials. Contrary to potential concerns, this development is not
expected to significantly impact Appia; rather, it is poised to exert a positive influence on the growing
demand for critical Rare Earth Elements (REE) worldwide. This scenario has the potential to act as a
catalyst in positioning Appia favourably amidst the evolving dynamics of the shifting global critical rare
earths market and to promote the future development of the PCH and Alces Lake projects.
Global Uranium Market:
The linked article from
The Wall Street Journal
discusses the surge in demand for uranium, resulting in a
shortage as miners struggle to keep pace. The uptick in uranium prices, driven by increased interest in
nuclear power and the push for clean energy sources, has led to challenges in meeting the growing
demand. The article highlights the potential for significant changes in the uranium market and the need
for increased production to address the supply gap.
In closing, this being my first year with the Company, it has been an extraordinary process of learning
and developing a vision for a future which is bright. The culmination of our recent achievements, including
the near completion of the maiden Mineral Resource Estimate (MRE) on Target IV of our PCH project
and companion NI 43-101 technical report on PCH, signifies a pivotal juncture for Appia.
Our dedicated drilling programs have yielded promising results, further solidifying our position in the
dynamic rare earth elements sector. We look forward to continued success on future drilling campaigns
and the resulting data obtained from those exploration activities.
As we navigate through these exciting developments in Brazil, Appia remains steadfast in its
commitment to further develop our projects in Canada. We appreciate the support from our shareholders
and communities of influence, and we anticipate a future marked by continued success and impactful
milestones.
We invite you to visit our newly designed
website
,
corporate presentation
, and
fact sheet
, to learn more
about Appia Rare Earths & Uranium.
Best Regards,
Stephen Burega
President, Appia Rare Earths & Uranium Corp.
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 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a
100% interest in 13,008 hectares (32,143acres), 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 which is 17,551.07 ha. in size and located within the Goiás State
of Brazil. (See June 9
th
, 2023, Press Release - Click
HERE
)
Appia has 136.3 million common shares outstanding, 144.2 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 (
,
,
) 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/192650