Toronto, Ontario--(Newsfile Corp. - November 8, 2018) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia) is pleased to provide the remaining analytical results from surface channel samples collected from the Bell, Dante, Dylan and Ivan zones as part of the Company's completed 2018 Summer exploration program (the "Program") carried out on the Alces Lake Property (the "Property") in northern Saskatchewan.
Surface channel sample line results for the Bell, Dante, Dylan and Ivan zones are provided in Table 1, Figure 1 and Figure 2. All zones exhibited high-grade rare earth element ("REE") mineralization; in particular, the Ivan and Dylan zones displayed the highest grade results returned on the Property to date. The highlights from each zone are as follows;
- Ivan zone - 22.35 wt% total rare earth oxide ("TREO") over 6.21 m (Line 6), and 23.24 wt% TREO average grade*
- Ivan zone - 53.01 wt% TREO over 1.23 m (Line 4), which are the highest grades returned on the Property
- Dylan zone - 41.53 wt% TREO over 1.02 m (Line 10), and 31.83 wt% TREO average grade*
- Dante zone - 22.34 wt% TREO over 0.66 m (Line 1), and 13.76 wt% TREO average grade*
- Bell zone - 14.31 wt% TREO over 1.49 m (Line 4), and 10.24 wt% TREO average grade*
*Note: Average grades for each zone were calculated after applying a 4 wt% TREO cutoff.
Assay results for the 15 drill holes are still pending. They will be announced in the coming weeks as received and analyzed by the Company.
Mr. James Sykes, Vice President of Exploration and Development for Appia comments: "We are extremely pleased with the final results from the surface channel sampling Program on the Alces Lake property. Not only do the results from the zones highlighted above compare favourably with previously reported results from the Charles (14.90 wt% TREO over 5.1 m) and Wilson (14.35 wt% TREO over 4.75 m) zones, but the Ivan and Dylan zones truly showcase the high-grade REE potential of the Property: these are some of the highest grade REEs reported in the World (see **Note later in the Press Release)."
The high-grade REO zones have proven to be continuous along strike, which enhances the exploration potential of the Property. To date, only 0.5 hectares (1.2 acres) of the Property have been stripped of overburden, resulting in 7 zones of high-grade REEs having been exposed. An additional 9 prospective REE showings are within 400 m of the current REE zones, and at least 2 additional historic REE showing areas (Forget Lake and Oldman River) still require follow-up on the west side of the Property.
Appia plans to continue exploration on the Alces Lake property during Summer 2019 with i) detailed ground gravity surveys exploring for subsurface REE zones, ii) continuation of overburden stripping and channel sampling of 9 known and 2 historic REE showings, and iii) an extensive drill program to further delineate the known REO zones at depth.
Channel sample lines for each zone were spaced approximately 1.0 to 2.0 m apart. Sample lines ranged from 1.0 m to 7.33 m in length for all zones (average 2.61 m in length). A total of 223 samples were diamond sawcut and collected from 101.6 m of surface exposure. Individual sample length intervals ranged from 0.17 to 0.71 m in length (average 0.5 m), 1 inch wide, and 1 to 2 inches deep, with a range of 2 to 15 contiguous samples per line (average 6 samples per line).
The Alces Lake Property encompasses some of the highest-grade total and critical REE mineralization in the world, hosted within seven surface showings that remain open in all directions. 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 (i.e: Neodymium (Nd), Praseodymium (Pr) and Dysprosium (Dy)). The Alces Lake project area is 14,334 hectares (35,420 acres) in size, and is 100% owned by Appia.
All sample results were provided by Saskatchewan Research Council's ("SRC") Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for multi-element and REE analysis.
All analytical results reported herein have passed rigorous internal QAQC review and compilation. The technical content in this news release was reviewed and approved by Thomas Skimming, P.Eng, a Director of Appia, and a Qualified Person as defined by National Instrument 43-101.
**Note: The Alces Lake REE grades were compared with global REE deposit grades. The global REE deposit information was derived from publicly available information as of January 31, 2018, from individual company websites, SEDAR technical report filings, and the Technology Metals Research Advanced Rare Earth Projects Index (http://www.techmetalsresearch.com/metrics-indices/tmr-advanced-rare-earth-projects-index/).
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston and Eastside, properties. The Company holds 100% of the surface rights to exploration over 63,980 hectares (158,098 acres) in Saskatchewan.
The Company also has NI 43-101 compliant Mineral Resources of 8.0 M lbs U3O8 and 47.7 M lbs Total REE Indicated and 20.1 M lbs U3O8 and 133.2 M lbs Total REE Inferred in the Teasdale Zone plus 27.6 M lbs U3O8 Inferred in the Banana Lake Zone in the historic mining camp of Elliot Lake in Ontario (previously reported in the Company's news release dated August 14, 2013). The resources are largely unconstrained along strike and down dip. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia currently has 58.4 million common shares outstanding, 76.6 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 guarantees 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, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) email@example.com
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) firstname.lastname@example.org
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) email@example.com