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269 Samples Now Pending Assaying at SGS Labs in Brazil
Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE: A0I0.BE) (the "Company" or "Appia") has completed its previously announced onsite due diligence program at 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 part of the due diligence process, we drilled 15 auger holes twinning a representative mix of trenches, drill and auger holes across the western portion of the property which were sampled at ½ meter intervals. And assaying is now underway," stated Stephen Burega, President of Appia. "In addition, there were two diamond drill holes originally completed by the Vendor's team but not previously assayed. The entire lengths of the two diamond drill holes were sampled and included as part of the total sample package delivered for assaying."
A total of 269 samples were taken, and are now being processed at the SGS labs near Belo Horizonte, Brazil. Assay results are expected back mid to late May 2023.
"We had the opportunity to work directly with the Vendor's Brazilian geology team, and to see for ourselves their excellent work first hand," Burega continued. "We spent 4 days on the property taking samples and revewing the surface geology of many core western targets on the PCH property as well as on the more grassroots, highly prospective eastern targets."
"As previsouly reported, the regional mineralogy has very similar lithologies to the Serra Verde project (See link to website here) demonstrating the classic model of ionic clay structures. Based on assays obtained from the vendor, grades appear to be similar to those reported at Serra Verde project," he continued.
"Like Serra Verde, Appia's PCH Project is an ionic-clay REEs deposit and one of the relatively few deposits of this type found outside of China. Ionic clays can be mined with low-cost open pit mining techniques and processed using simple technologies," Burega continued. "The PCH Project is a classical, highly weathered alkaline granitic complex showing ionic clay development with elevated REE values immediately below surface and extending down to a depth of over 15 meters, and is located in close proximity to a massive ultra mafic complex currently owned by Vale."
The PCH Project is 17,551.07 ha. in size and is a circular structure originating from significant depth and brings with it a series of REEs. Early indications are that the minerology 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.
Images #1, #2 and #3 - Sample of Ionic Clay material from an auger hole; Mr. Don Hains, Consulting Geologist and specialty mineral expert, reviewing maps from the PCH Project, State of Goiás, Brazil; and samples are prepped for shipping to SGS labs near Belo Horizonte, Brazil.
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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, 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163820
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