Provides Update of 2018 Exploration Plans
Toronto, Ontario–(Newsfile Corp. – January 9, 2018) – Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I) (MU: A0I) (BE: A0I) (the “Company” or “Appia) announced today that its common shares have been approved for trading on the OTCQB®Venture Market in the United States under the symbol (OTCQB: APAAF). Investors in the US can find current financial disclosure and Real-Time Level 2 quotes in US currency for Appia on www.otcmarkets.com. The new listing makes the shares DTC eligible to facilitate trading, settlement and clearance in the US.
An update regarding exploration plans in northern Saskatchewan in 2018 follows.
The Company will continue diamond drilling on the Loranger property as soon as winter ground conditions are favourable. Two to three high-priority areas, as defined by coincident electromagnetic and gravity geophysical features, remain unexplored and will be targeted in this program. In the 2017 diamond drilling program, 6 of 7 drill holes intersected uranium mineralization with grades greater than 0.01 wt% U3O8over broad intervals (see Appia news release dated May 24, 2017). Permits are in-hand and a drill is on-site for the current exploration program.
The follow-up exploration on Appia’s Alces Lake rare earth element (“REE”) property, 29 km north of the Athabascan Basin, is scheduled to start in May. Additional surface exploration including overburden stripping and trenching in the Wilson and Ivan zones, will be followed-up with diamond drilling. The Company anticipates producing a NI 43-101 compliant resource estimate by year-end. The Alces Lake property hosts some of highest-grade REE mineralization in the world, hosted within five broad surface showings that remain open in all directions (see Appia news release dated October 31, 2017). A permit for the proposed exploration activities is pending.
Additional exploration plans for 2018 include;
ground prospecting on the Eastside property where historic exploration efforts have returned up to 7,575 ppm uranium from outcrops and boulders, and a recently completed radiometric survey identified multiple radiometric anomalies that require further follow-up (see Appia news release dated November 13, 2017),
an airborne EM, magnetic and radiometric survey over the recently staked North Wollaston property which hosts four uraniferous surface showings with grades up to 0.495 wt% U3O8 (see Appia news release dated December 14, 2017),
follow-up ground prospecting on the North Wollaston property, and
ground prospecting in the central and southern parts of the Loranger property following-up historic and regional airborne radiometric anomalies.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors and is currently focusing on discovering high-grade uranium in the prolific Athabasca Basin on its Loranger, Otherside, Eastside, and recently acquired North Wollaston properties, as well as delineating high-grade REEs and uranium on the Alces Lake property. The company holds the surface rights to exploration on 73,033 hectares (180,467 acres) in Saskatchewan.
The company also has NI 43-101 compliant resources of 8.0 M lbs U3O8 and 47.7 M lbs Total REE Indicated and 20.1 M lbs U3O8 and 133.2 M lbs Total REE Inferred in the Teasdale Zone plus 27.6 M lbs U3O8 Inferred in the Banana Lake Zone in the historic mining camp of Elliot Lake in Ontario (previously reported in the Company’s news release dated August 14, 2013). The resources are largely unconstrained along strike and down dip.
Appia’s technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia currently has 52.3 million common shares outstanding, 65.3 million shares fully diluted.
The technical content in 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.
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) [email protected]
James Sykes, VP, Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) [email protected]
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]