Appia Receives Positive Assays Results – Announces Plans To Proceed With The Acquistion Of Ionic Clay Project, Brazil
269 SAMPLES SHOW POSITIVE CORRELATION TO VENDOR’S RESULTS
TORONTO, ONTARIO, May 30, 2023 - Appia Rare Earths & Uranium Corp. (the “Company” or “Appia”) (CSE: API, OTCQX: APAAF, Germany: “A0I0.F”, “A0I.MU”, “A0I.BE”) has received a partial set of results from their 15 hole due diligence drilling program completed in April 2023 that confirm the continuity of grade between this representative sample and the Vendor’s assay results on The Cachoeirinha Project (the “PCH Project”) located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil. (Click here for the Press Release).
“As previously announced, we drilled 15 auger holes twinning a representative mix of trenches, drill and auger holes across the western portion of the property and the partial assay results received from the SGS Geosol labs in Brazil have now confirmed that the data presented by the Vendor is accurate and acceptable to Appia’s Management and the Board,” stated Stephen Burega, President of Appia.
He continued, “I am extremely pleased to announce that the Company intends to finalize the previously announced Letter Agreement (see March 7, 2023 Press Release) to acquire up to a 70% ownership interest in the PCH project and move to signing a binding Shareholder’s Agreement.”
“Based on my review of the work completed to date by Appia and the Vendor, the PCH project is an ionic abosortion clay structure covering a large project area with significant potential,” stated Mr. Don Hains, industrial mineral expert and consulting geologist to Appia.
Appia and the Vendor are also currently working with SGS Canada to undertake initial mineralogy testing on samples from the PCH property, and anticipate submitting additional samples over the next quarter.
Once the Shareholder’s Agreement has been executed, Appia plans to commence an initial work program in early July 2023 including:
A detailed Lidar Survey across the entire PCH property
Begin an auger drill program of the primary target area on the Western segment of the PCH property at 100m line spacing
Assay sampling will be done at ½ metre intervals
Begin an initial stream sediment and soil geochemical sampling program on the highly prospective Eastern segment of the PCH property
Initiate an environmental baseline study across the property
Undertake additional mineralogical and metallurgical work in support of preliminary flow sheet design
“We are currently working closely with Mr. Don Hains to review all work completed to date by the Vendor over the past three years, including our recent due diligence results, to prepare a report on the potential of the property, and to develop a proposed multi-phase work program for next the 12 months,” Burega stated.
Early indications are that the mineralogy is primarily bastnaestite and monazite with clays that are preferentially enriched in the valuable magnetic rare earth elements. Historic work by the Vendors indicates that the magnetic REEs represent +/- 25% of the total REEs found within the project area.
Bullish
