04:08:20 EDT Mon 24 Jun 2024
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Appia Rare Earths & Uranium Corp
Symbol API
Shares Issued 136,333,594
Close 2024-03-01 C$ 0.15
Market Cap C$ 20,450,039
Recent Sedar Documents

Appia's PCH at 46.2 Mt of 2,888 ppm TREO, inferred

2024-03-01 17:19 ET - News Release

Mr. Tom Drivas reports

APPIA ANNOUNCES MAIDEN RARE EARTH MINERAL RESOURCE ESTIMATE OF 6.6 MILLION TONNES INDICATED GRADING 2,513 PPM TREO AND 46.2 MILLION TONNES INFERRED GRADING 2,888 PPM TREO AT THE PCH IONIC ADSORPTION CLAY PROJECT IN GOIAS, BRAZIL

Appia Rare Earths & Uranium Corp. has received an independent maiden mineral resource estimate for its ionic adsorption clay project located in the state of Goias, Brazil, known as the PCH project. The MRE was prepared by Yann Camus, PEng, of SGS Canada Inc. -- geological services.

Highlights:

  • The maiden MRE for the PCH project is estimated at 52.8 million tonnes comprising:
    • 6.6 Mt indicated resource with a grade of 2,513 parts per million total rare earth oxide;
    • 46.2 Mt inferred resource with a grade of 2,888 ppm TREO;
  • The deposit contains significant concentrations of neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb), which are the rare earth elements used in the production of permanent magnets and currently under high demand;
  • The company is currently undertaking a significant evaluation of the potential desorbed rare earth oxide (DREO), and results are pending;
  • Significant anomalies of scandium and cobalt have been identified in the Buriti zone, adding additional potential resource value to the project.

Tom Drivas stated: "Appia's team has done a tremendous amount of work over the past eight months leading to the commissioning of this maiden MRE on our two initial project areas: Target IV and the Buriti zone. I couldn't be more pleased to confirm that our conviction was well placed as there is immense potential at our PCH project in Brazil. With an estimated 6.6 million tonnes of high-grade mineralization in the indicated category and 46.2 million tonnes of high-grade mineralization in the inferred category, and with some of the highest TREO grades in the world, we are well on our way to establishing the company as a leader not only in Brazil, but around the globe."

Stephen Burega, president, commented: "Today's announcement is very important to the company and our shareholders, and this is only the beginning for this amazing project. We have delineated a combined resource of 52.8 million tonnes of high-grade mineralization in an area of only 483 hectares across both target zones. Appia is continuing its exploratory auger drilling program to test multiple new target areas across the PCH project, which covers over 40,000 hectares. We will continue to evaluate future targets for TREO as well as for scandium and cobalt potential."

Mineral resource statement

The block model representing the current resource of the PCH deposit is based on a total of 138 reverse circulation drill holes and one diamond drill hole, which produced 1,869 samples in the three layers (top soil, clay and saprolite) above the rock. The three softer material layers were interpreted and modelled from these data. The mineral resource statement prepared by SGS is reported in accordance with the requirements of National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

The MRE is constrained within an optimized pit envelope using assumptions found herein.

The overall MRE indicates that, at shallower depths, the north and northwest portions are more enriched in TREO in Target IV when compared with the Buriti target. Buriti target presents TREO enrichment at deeper depths and presents anomalous grades of scandium and cobalt.

More details on data sources and current resource estimation methods

Some exploration auger data are also available but have no impact on the MRE. Therefore, only the RC and diamond drill holes were used for the MRE estimation. The hardrock, while mineralized, was not included in the MRE because the required process would be different and is not currently part of the development strategy. Also, data from the hardrock are currently limited. Blocks of 10 by 10 by 0.2 metre were used to fill the three-layer volumes. The composites used are the original assays given that 1,867 of the 1,868 assays in the three layers have lengths between 0.5 m and 1.05 m. Capping was studied but was deemed unnecessary because no significant extreme grades are present in the database. It is estimated that capping of highest grades could potentially reduce the MRE by around 1 per cent. Estimation of the block model was prepared by Yann Camus, PEng, of SGS Canada -- geological services -- from Blainville, Que., using the SGS Genesis mining software. Interpolation was performed using inverse square distance, as well as different search ellipses, which were adapted for the geology of the deposit with variable orientations to conform to the geometry of the three layers. Estimation was done in three passes. The composites used pertain to each layer as hard boundaries. Mineralized material classification was outlined by hand as indicated in areas with at least three drill holes with a drilling grid of around 100 m. Inferred resources are in areas with a drill grid of up to 200 m. At this point, there are no measured resources in the project. The block model was then fed to Geovia's Whittle software to provide an optimized pit envelope constraining the current resource. The TREO basket price found for the MRE is $26.98 (U.S.) per kilogram TREO. The base-case MRE is detailed herein.

Quality assurance/quality control

Reverse circulation drill holes are vertical, and reported intervals are true thickness. The material produced from drill holes are sampled at one-metre intervals, resulting in average sample sizes of five to 25 kg. A small representative specimen was taken from each sample bag and placed into a chip tray for visual inspection and logging by the geologist. Quartering of the material was performed at Appia's logging facility using a riffle splitter and continued splitting until a representative sample weighing approximately 500 grams each was obtained, bagged in a resistant plastic bag, labelled, photographed and stored for shipment.

The bagged samples are sent to the SGS laboratory in Vespasiano, Minas Gerais. In addition to the internal QA/QC of the SGS lab, Appia includes its own control samples in each batch of samples sent to the laboratory.

Quality control samples, such as blanks, duplicates and standards, were inserted into each analytical run. For all analysis methods, the minimum number of QA/QC samples is one standard, one duplicate and one blank, introduced in each batch which comprise a full-length hole. The rigorous procedures are implemented during the sample collection, preparation and analytical stages to ensure the robustness and reliability of the analytical results.

All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of RC samples were provided by SGS Geosol, an ISO/IEC 17025:2005 certified laboratory, which performed its measure of the concentration of rare earth element analyses by inductively coupled plasma mass spectrometry analytical methods.

Qualified person

The technical content in this news release was reviewed and approved by Don Hains, PGeo, consulting geologist, a qualified person as defined by National Instrument 43-101.

The MRE has been prepared by Yann Camus, PEng, of SGS Canada -- geological services -- from Blainville, Que., and is a qualified person as defined under National Instrument 43-101. He is responsible for the MRE, and has reviewed and approved the scientific and technical information related to the MRE contained in this news release.

NI 43-101 technical report

A technical report in conformance with the requirements of NI 43-101 will be filed on SEDAR+ within 45 days of the issuance of this press release.

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 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The company also has a 100-per-cent 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. Lastly, the company holds the right to acquire an up-to-70-per-cent interest in the PCH project (see the June 9, 2023, press release), which is 40,963.18 hectares in size and located within the Goias state of Brazil (see the Jan. 11, 2024, press release).

Appia has 136.3 million common shares outstanding and 144.5 million shares fully diluted.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.