Appia Commences Diamond Drilling on High-Grade Critical Rare Earth Elements Alces Lake Property
August 17, 2020 (Source) — Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the “Company” or “Appia) is pleased to announce that diamond drilling has commenced and the second phase of the 2020 summer exploration program (the “Program“) is progressing at the Alces Lake property (the “Property“) northern Saskatchewan.
The Property encompasses some of the highest-grade total and critical rare earth elements (“CREE“) mineralization in the world. CREE is defined here as those rare earth elements 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 area is 17,577 hectares (43,434 acres) in size and is 100% owned by Appia.
Phase 2 of the 2020 summer exploration program comprises:
- 2,000 to 3,000 m of diamond drilling following the strike extension of the Wilson, Charles and Ivan zones, and reconnaissance drilling on select regional geological and geophysical targets of interest;
- additional regional ground prospecting, mapping and sampling over areas of interest
- excavated overburden removal and outcrop washing
Drill hole assay results will be released as they are received and analysed by the Company.
Appia is a Canadian publicly listed 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 the surface rights for exploration to 65,601 hectares (162,104 acres) in Saskatchewan.
The Company also has a 100% interest in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.
Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia has 73.9 million common shares outstanding, 90.3 million shares fully diluted.
For more information, please visit Appia’s website at www.appiaenergy.ca
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
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>