Toronto, Ontario–(Newsfile Corp. – February 27, 2019) – Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.MU) (FSE: A0I.BE) (the “Company” or “Appia) is pleased to provide details regarding the Company’s forthcoming diamond drilling program for high-grade uranium on the Loranger property (the “Property”). 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 totalling a minimum of 1,000 metres, and will be guided by the Company’s Vice-President, Exploration and Development, James Sykes, who has had direct and indirect involvement with five major discoveries in the Athabasca Basin in the past decade, most notably leading the discovery of NexGen Energy’s Arrow high-grade uranium deposit.
The Program will be targeting two or three areas which display coincidental geophysical features commonly exhibited with other Athabasca high-grade uranium deposits, such as i) broad gravity lows, ii) diminished and/or broken electromagnetic conductors, and iii) apparent magnetic lineation offsets.
Mr James Sykes comments; “We are very excited to start the winter drill program on the Loranger property. The 2017 drill program successfully intersected uranium mineralization over broad intervals in six out of seven drill holes carried out in two target areas. In addition, the 2017 summer prospecting program identified numerous radioactive occurrences, including bedrock outcrops that were not previously discovered. These details demonstrate that the Loranger property is fertile with uranium. Based on the coincidental geophysical features and geological interpretations from the 2017 programs, we feel confident the proposed winter target areas are highly prospective for uranium mineralization.”
Diamond drilling will be conducted by Revolution Diamond Drilling Ltd. of Smithers, BC. All necessary exploration permits are in-hand.
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
