Toronto, Ontario--(Newsfile Corp. - July 30, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to provide an update on its Loranger drilling program. The drilling phase of this program has been successfully completed, and a total of 42 samples have been delivered to the Saskatchewan Research Council (SRC) for comprehensive whole-rock and rare earth element (REE) analysis.
In the recently concluded drilling campaign, which covered 714 meters, Appia achieved several significant findings. The drilling intersected radioactive (Uranium (U)-Thorium (Th))-REE pegmatites containing visible monazite and potential uraninite located within major reactivated graphitic structural zones. Notably, the program identified:
- Graphitic Electromagnetic (EM) Conductors: Significant intersections of graphitic EM conductors (Figure 2a) within favorable metasedimentary host rocks, with scintillometer readings reaching up to 1,500 counts per second (cps), indicating potential for uranium mineralization.
- Monazite Mineralization: Visible monazite (Figure 2b) was observed in drill hole #3 (24-LOR-003), a key discovery as monazite commonly hosts significant rare earth element mineralization in northern Saskatchewan.
Stephen Burega, President of Appia, commented, "The successful intersection of graphitic EM conductors and the presence of monazite-bearing pegmatites was an encouraging discovery for our exploration program. These findings validate our exploration models and highlight the promising potential of the Loranger property. Our team is eager to analyze the laboratory-tested assay results over the coming weeks."
Burega continued, "The drilling program targeted subsurface geophysical anomalies associated with graphitic conductors and potential alteration halos, which may lead to uranium mineralization and indicate the property's potential for both uranium and REEs. The intersections confirm our geophysical and geological models and suggest the possibility of significant mineralization similar to other zones found in the region, such as Fraser Lakes and Kulyk Lake, as well as deposits like Eagle Point, Maverick, and Gryphon in the eastern Athabasca Basin."
The 42 samples are currently undergoing detailed analysis at SRC and the Company expects to receive assay results within 6-8 weeks. Appia is enthusiastic about the progress and potential of the Loranger property and will continue to update stakeholders on future developments and exploration plans.
The technical content of this release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo., Senior Technical Advisor, and Qualified Person as defined by National Instrument 43-101.
Figure 1- Drill Collar Locations - Loranger Drill Program 2024, SK
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About Appia Rare Earths & Uranium Corp. (Appia)
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See June 9th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11th, 2024 Press Release - Click HERE) The Company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and 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 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.
Appia has 136.8 million common shares outstanding, 145.5 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 more information, visit www.appiareu.com
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Contact:
Tom Drivas, CEO and Director
(c) (416) 876-3957
(f) (416) 218-9772
(e) tdrivas@appiareu.com
Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218196
SOURCE: Appia Rare Earths & Uranium Corp.
