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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 the acquisition of additional new mineral claims in the Alces Lake area, northwest Saskatchewan. The newly acquired prospective claims augment those already held by the Company as it moves forward with its development of a rare earth element (REE) resource at Alces Lake.
The Alces Lake claim block (Figure 1) now totals 38,522.43 contiguous hectares (95,191.00 acres); located approximately 50 kilometres east of Uranium City. The claims were staked on the basis of similar geological and geophysical signatures to the Company's current Alces Lake property.
Appia also holds a total of 75,314.72 hectares (186,106.72 acres) of land on four uranium claim blocks (Loranger, North Wollaston, Eastside, and Otherside). Exploration plans for these properties will be announced once permits are in hand.
2023 Exploration Plans at Alces Lake
All geochemical assay results are in hand from the 2022 exploration program. The Company is currently preparing for the 2023 exploration season (details to come on Appia's website) with several desktop initiatives to enhance its geological understanding of mineralization and to improve the Company's workflows relating to the acquisition, handling, integration, and interpretation of geoscientific data. The current work has involved the engagement of professional consultants to optimize Appia's geoscientific databases and to conduct comprehensive 3-dimensional (3D) modeling of the WRCB and Magnet Ridge mineralized zones.
Encouraged by Appia's 2022's drilling results, the Company intends to reopen the Alces Lake camp in summer 2023 for another season of REE (monazite-hosted) exploration. For this upcoming field season, follow-up geological, geophysical, and geochemical surveys are planned along and across the highest-priority areas of a 20 to 25 km-long structural corridor extending SSE from the main mineralized zones at WRCB and immediate area. This will aid in delineation and mapping of REE mineralized (monazite-rich) pegmatites and associated glimmerites to establish new drill targets. The petrophysical characteristics (i.e. density, radiometric, and magnetic properties) of monazite (a proxy to rare earth elements mineralization) will be maximized for vectoring new targets by utilizing leading edge exploration technology (e.g. airborne gravity, radiometrics, and magnetics at optimal line spacing/orientation). Appia is currently in discussion with company contractors and service providers for these upcoming surveys.
Figure 1. Mineral claims for Appia's Alces Lake property in northern Saskatchewan
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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)).
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 fully operational in early 2024). The Alces Lake project area is 38,522.43 hectares (95,191.00 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.
The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Vice President, Exploration, and a Qualified Person as defined by National Instrument 43-101.
About Appia Rare Earths and 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 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, 153.8 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 further information, please contact:
Tom Drivas, CEO and Director: (cell) 416-876-3957, (fax) 416-218-9772 or (email) tdrivas@appiareu.com
Stephen Burega,President: (cell) 647-515-3734 or (email) sburega@appiareu.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email) fvandewater@rogers.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154962
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