Toronto, Ontario, April 26, 2016 -Appia Energy Corp. (the “Company” or “Appia”) (CSE: API) is pleased to announce the acquisition of two groups of contiguous mineral claims in the Athabasca Basin (the “Basin”) area in northern Saskatchewan. (Please click here for a location map and other information about the properties.)
SUMMARY:
The “Otherside” and the “Loranger” properties were staked on the basis of similar geological and geophysical signatures to known high-grade, large-tonnage uranium deposits in the Basin: Fission Uranium Corp’s Triple R deposit, NexGen Energy’s Arrow deposits, and others.
- The Otherside property encompasses 21,868 ha. (54,037 acres), straddles a 40 kmlong corridor hosting multiple discrete conductors with associated magnetic gradients and gravity lows, within the north central Athabasca basin.
- The Loranger property comprises 24,755 ha. (61,171 acres), centered on 4 individual conductors with an aggregate length of 84 km of which 82 km is untested. The property is hosted within the basement rocks of the Wollaston Domain, near the deposit rich eastern margin of the Basin.
- Exploration of these properties will be under the direction of James Sykes, who was recently appointed by Appia as Director of Saskatchewan Operations. James is a geologist specializing in uranium exploration in the Basin, and was directly involved in several of the recent major uranium discoveries within the region.
Appia intends to carry out ground gravity and resistivity surveys over the primary target areas within the Otherside property in order to elevate the property to a drill-ready status. Appia also intends to carry out a VTEM airborne geophysical survey of the Loranger property, followed by a ground gravity survey over priority areas to bring the property to a drill-ready status.
The Company now has interests in 83,037 hectares (205,185 acres) of claims in the Athabasca Basin, some in the vicinity of Patterson Lake South as well as in other parts around the Basin.
In Ontario, Appia controls 13,008 hectares (32,143 acres), including Rare Earth and Uranium Deposits, over five mineralized zones in the Elliot Lake Camp, which historically produced over 300 million pounds of U3O8, and is the only Canadian camp that has had significant Rare Earth Element production.
Watts, Griffis and McOuat Limited (WGM) completed a NI 43-101 technical report on the Teasdale Zone (the “Technical Report”) entitled, “A Technical Review of the Appia Energy Corp. Rare Earth and Uranium Property, Elliot Lake District, North-Central Ontario, Canada.” dated July 18, 2011, with certificates dated November 7, 2012, written by Al Workman, P. Geo and Kurt Breede, P. Eng. Details of the Technical Report can be found on the SEDAR website, www.sedar.com.
Appia currently has 41.6 million common shares outstanding, 43.3 million shares fully diluted.
The technical content of this news release was reviewed and approved by Thomas Skimming, P.Eng, a Director of Appia, and a Qualified Person as defined by National Instrument 43-101.
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, Director of Saskatchewan Operations, (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
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
