Appia Rare Earths & Uranium (CSE: API) (OTCQX: APAAF) (FSE: A0I0), a publicly traded Canadian company in the rare earth element and uranium sectors, has announced initial geochemical assay results from its 2023 drilling program; the program was conducted on the Magnet Ridge Zone at Appia’s Alces Lake Project in northern Saskatchewan. According to the announcement, these significant findings “mark a pivotal milestone” in the company’s focus and commitment to advance exploration and development initiatives within the prolific Athabasca Basin area. Highlights of the report include returned assays of up to 1.57 wt.% (15,700 ppm) total rare earth oxides (“TREO”), with thickness and grades increasing to the south-southeast; mineralization intervals occurring from near surface to less than 85 meters depth; and multiple intervals in 23-MR-002 and 23-MR-003, extending downward in a westerly direction. The company also noted that it plans future exploration to continue in the west-southwest, extending downward into current intersections toward the mineralization at Magnet Ridge West. “The 2023 Alces Lake exploration campaign completed a successful season of prospecting, channel sampling and diamond drilling across the entire large property,” said Appia Rare Earths & Uranium lead geologist Kahlen Branning in the press release. “Specifically, here at Magnet Ridge, our team was able to delineate the SSE-most extent of the Magnet Ridge mineralization. Our prospecting team has uncovered a multitude of new, potential drill targets on the property that necessitate further detailed exploration, many of these display anomalous radioactive counts, from 5,000 counts per second (cps) to 40,000 cps. These new zones match our original hypothesis regarding the location of low-to-high-grade mineralization along the main regional shear zone and within the fold nose/hinge zone area of a large regional fold structure.”
In addition, the company also announced a substantial increase in the total weighted average grade of drill hole PCH-RC-063 at its PCH Ionic Adsorption Clay project, which is located in Goias, Brazil. The company had reported on the drill hole in October 2023. The new announcement noted that the reverse circulation (“RC”) PCH-RC-063 drill hole exceeded multiple intervals limits of detection (“LOD”), which prompted a reanalysis of the drilling results using methods designed for very high-grade samples, which was conducted by SGS Geosl Labs. The updated assays reveal a significant 42.2% increase in TREO and a notable 9.2% increase in magnet rare earth oxides (“MREO”). “These assays not only validate the extraordinary results of the PCH-RC-063 drill hole but also underscore the substantial high-grade potential mineralization in the SW Extension Zone,” said Appia Rare Earths & Uranium CEO Tom Drivas in the press release. “We are excited about the possibilities revealed by these findings and advancing additional exploration and development efforts to fully tap into the promising potential of this high-grade zone.”
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About Appia Rare Earths & 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 13,008 hectares (32,143 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the company holds the right to acquire up to a 70% interest in the PCH Project, which is 40,963.18 hectares in size and located within the Goiás state of Brazil. The company successfully added 23,412.11 hectares to the PCH project, bringing the overall project size to 40,963.18 hectares. For more information about the company, please visit www.AppiaREU.com.
NOTE TO INVESTORS: The latest news and updates relating to APAAF are available in the company’s newsroom at https://ibn.fm/APAAF
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