Appia Receives Positive Assays Results - Announces Plans to Proceed with the Acquisition of Ionic Clay Project, Brazil
Appia Receives Positive Assays Results -
Announces Plans to Proceed with the
Acquisition of Ionic Clay Project, Brazil
269 Samples Show Positive Correlation to Vendor's Results
Toronto, Ontario--(Newsfile Corp. - May 30, 2023) -
Appia Rare Earths & Uranium Corp.
(CSE: API)
(OTCQX: APAAF) (FSE: A0I0) (FSE: A0I0.F) (FSE: A0I.MU) (FSE: A0I.BE)
(the "Company" or
"Appia")
has received a partial set of results from their 15 hole due diligence drilling program
completed in April 2023 that confirm the continuity of grade between this representative sample and the
Vendor's assay results on The Cachoeirinha Project (the "
PCH Project
") located in the Tocantins
Structural Province of the Brasília Fold Belt, Goiás State, Brazil. (
Click here for the Press Release
).
"As previously announced, we drilled 15 auger holes twinning a representative mix of trenches, drill and
auger holes across the western portion of the property and the partial assay results received from the
SGS Geosol labs in Brazil have now confirmed that the data presented by the Vendor is accurate and
acceptable to Appia's Management and the Board," stated Stephen Burega, President of Appia.
He continued, "I am extremely pleased to announce that the Company intends to finalize the previously
announced Letter Agreement (
see March 7, 2023 Press Release
) to acquire up to a 70% ownership
interest in the PCH project and move to signing a binding Shareholder's Agreement."
"Based on my review of the work completed to date by Appia and the Vendor, the PCH project is an
ionic abosortion clay structure covering a large project area with significant potential," stated Mr. Don
Hains, industrial mineral expert and consulting geologist to Appia.
Appia and the Vendor are also currently working with SGS Canada to undertake initial mineralogy
testing on samples from the PCH property, and anticipate submitting additional samples over the next
quarter.
Once the Shareholder's Agreement has been executed, Appia plans to commence an initial work
program in early July 2023 including:
A detailed Lidar Survey across the entire PCH property
Begin an auger drill program of the primary target area on the Western segment of the PCH
property at 100m line spacing
Assay sampling will be done at ½ metre intervals
Begin an initial stream sediment and soil geochemical sampling program on the highly prospective
Eastern segment of the PCH property
Initiate an environmental baseline study across the property
Undertake additional mineralogical and metallurgical work in support of preliminary flow sheet
design
"We are currently working closely with Mr. Don Hains to review all work completed to date by the Vendor
over the past three years, including our recent due diligence results, to prepare a report on the potential
of the property, and to develop a proposed multi-phase work program for next the 12 months," Burega
stated.
Early indications are that the mineralogy is primarily bastnaestite and monazite with clays that are
preferentially enriched in the valuable magnetic rare earth elements.
Historic work by the Vendors
indicates that the magnetic REEs represent +/- 25% of the total REEs found within the project area.
Background on the PCH Project
The Cachoeirinha Project (PCH Project) is located within the Tocantins Structural Province in the
Brasília Fold Belt, more specifically, the Arenópolis Magmatic Arc. The PCH Project is 17,551.07 ha. in
size and located within the Goiás 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)
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 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 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 (
,
,
)
please
feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please
click here
.
For further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email)
Stephen Burega, President: (cell) 647-515-3734 or (email)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/167992