Toronto, Ontario–(Newsfile Corp. – December 14, 2017) – Appia Energy Corp. (CSE: API) (OTC: APAAF) (FSE: A0I) (MU: A0I) (BE: A0I) (the “Company” or “Appia) is pleased to announce the acquisition of a group of contiguous mineral claims by staking in northern Saskatchewan. The new property, named the North Wollaston Property (the “Property”), which is located 30 km northeast of Cameco’s Rabbit Lake uranium mill, the Eagle Point mine operations, the eastern edge of the Athabasca Basin and 40 km north of the Company’s Loranger property. The Rabbit Lake mill has processed more than 200 M lbs. of uranium concentrates since beginning production in 1975. The Property encompasses 11,306 hectares (27,938 acres), (see attached map).
Historic airborne and ground exploration was conducted on the property and surrounding area between 1968 and 1984. During that time, many EM graphitic conductors were identified, four uranium-bearing zones with boulder fields and outcrops were discovered at surface and three of seven regional exploration drill holes intersected elevated uranium values (100 ppm U) and/or radioactivity (>200 counts-per-second). The four uranium-bearing surface zones are designated “Dan’s Showing”, and “Wheeler #1 to Wheeler #3”.
Dan’s Showing is highlighted by 42 outcrop and boulder samples with uranium grades ranging from 10 ppm up to 0.495 wt% U3O8, producing an average of 700 ppm U3O8. Nine samples returned greater than 1,000 ppm U3O8. Dan’s Showing is hosted in sheared and weakly altered pegmatite, and is located approximately 500 m away from the presumed Archean/Proterozoic unconformity; a geologically structural setting that is host to a large number of high-grade Athabasca Basin uranium deposits, such as Rabbit Lake, Eagle Point, Key Lake, Midwest, Roughrider, et al.
The Wheeler #1 to #3 showings are highlighted by outcrop and boulders with uranium grades ranging from 0.065 to 0.40 wt% U3O8. Prospecting identified uranium mineralization occurring as yellow secondary uranium-lined fracture coatings and within pegmatite lithologies. Uranium-lined fractures suggest uranium has been remobilized, preferentially along structurally active systems. Structural systems are key components for formation of high-grade uranium Athabasca deposits.
Historic diamond drilling in the southeast part of the property intersected elevated uranium values and/or radioactivity in three of seven drill holes. The best intersection was from SWL-D1 which returned 179 ppm U3O8 over 1.8 m at 60 m vertical depth. Drill hole SWL-D4 intersected the broadest radioactive anomaly of over 14 m drill hole length within desilicified/karstic calc-silicate gneiss and therefore could not be sampled properly. Lithologies within drill hole SWL-D4 and the Wheeler showing areas are similar to those hosting mineralization at the Eagle Point mine.
Mr. James Sykes, VP Exploration and Development for Appia comments: “The North Wollaston property is another exciting exploration asset for Appia. We are very encouraged by many factors on the property;
- the property is on-trend and within 30 km of mined uranium deposits and a mill that has processed over 200 M lbs. of uranium concentrates
- a large number of boulders and outcrops at surface exhibiting ore-grade concentrations of uranium,
- evidence for multiple structurally-controlled uranium occurrences along shear zones and fracture linings,
- similar host-rocks with Rabbit Lake and Eagle Point uranium mines (i.e. calc-silicates), and the McArthur and Phoenix uranium deposits (i.e. quartzite adjacent to graphitic gneiss),
- and numerous EM graphitic conductors that exhibit fold-patterns and cross-cutting structures that have not been drilled or received detailed investigations.
The historic prospecting reported an abundant lack of outcrop exposures within the property area; therefore, we remain positive that these previously discovered uranium showings are continuous beneath the surficial overburden materials and that many new discoveries will likely be made. We plan to follow-up historic exploration by flying a detailed airborne radiometric, EM and magnetic survey over the property in 2018.
The uranium values reported herein are historic laboratory assay results prior to NI 43-101 disclosure standards and may or may not be viewed as reliable. The references to uranium occurrences were retrieved from the following Saskatchewan assessment reports; i) Bagnell, B. and Aumaitre, R. (1984): Wollaston Lake North Joint Venture, CBS 4990, Wheeler Grid, Diamond Drilling Program — November to December, 1984, Minatco Ltd., Saskatchewan Mineral Assessment File 64L11-0041, and ii) Fisher, P. (1984): Project: Wollaston-Extension, Reconnaissance Geology and Prospecting, 1984, CBS 7393, 7394, 7395, Saskatchewan, Minatco Ltd., Saskatchewan Mineral Assessment File 64L10-0020.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company 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 now holds the surface rights to exploration for about 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]
Appia Energy Corp.: North Wollaston Property Region Overview
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