Toronto, Ontario--(Newsfile Corp. - March 6, 2019) - 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 the diamond drilling program for high-grade uranium on the Loranger property (the "Property") has commenced. The Property is located 28 km southeast of Cameco's Rabbit Lake mill, Athabasca Basin area, northern Saskatchewan.
The planned diamond drill hole program (the "Program") will consist of approximately 5 to 10 drill holes totaling a minimum of 1,000 metres, and will be targeting two or three areas which display coincidental geophysical features commonly exhibited by other Athabasca high-grade uranium deposits, such as i) broad gravity lows, ii) diminished and/or broken electromagnetic ("EM") conductors, and iii) apparent magnetic lineation offsets.
"The drill targets for this Program integrate the results from our 2017 exploration programs with geological and geophysical similarities with other high-grade uranium deposits. The EM conductors have shown to be fertile with uranium, and the gravity lows have proven to be zones of structurally disrupted zones with hydrothermal alteration products. Targeting this combination of features provides us excellent opportunities for drilling a uranium discovery," comments Mr. James Sykes, Vice-President, Exploration and Development.
Diamond drilling will be conducted by Revolution Diamond Drilling Ltd. of Smithers, BC. Drill hole results will be announced after they are reviewed and analysed by the Company. All necessary exploration permits are in-hand, and the Company is well-funded to complete the Program.
About Appia
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 the surface rights to exploration for 64,045 hectares (158,259 acres) in Saskatchewan.
The Company also has a 100% interest in 13,008 hectares (32,143 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 Management and Board have over 250 years of combined industry experience, and the Technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 million lbs. U3O8 being discovered in five deposits within the Athabasca Basin.
Appia has 64.0 million common shares outstanding, 86.7 million shares fully diluted.
The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, and a Qualified Person as defined by National Instrument 43-101.
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) appia@appiaenergy.ca
James Sykes, Vice-President, Exploration and Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) jsykes@uraniumgeologist.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) fvandewater@rogers.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43273
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