- Canadian mineral explorer Appia Rare Earths & Uranium is working to develop sources for rare earth elements (“REEs”) vital to modern computer technologies, spanning sites in Canada and Brazil
- The company’s 17,551-hectare (43,369.5 acres, or 67.8 square miles) PCH Ionic Clay Project in Brazil has completed assay work on the initial 17 drill holes in the “Target IV” section of the project, finding REE mineralization in all of them to a depth of 13 meters
- With 147 holes drilled at the Brazilian site, Appia is optimistic that the high-grade values observed near the surface could lead to a mining and refining process that is more environmentally sustainable and economically efficient
- Beyond Brazil, the company is also exploring for REEs in mineral rich areas of Saskatchewan and Ontario, Canada, recently completing an NI43-101 technical report on the Saskatchewan site
- Appia’s exploration is part of a renewed drive in the industry to develop REE supply chains that are not dependent on China’s dominant market presence
Mineral explorer Appia Rare Earths & Uranium (CSE: API) (OTCQX: APAAF) is making significant progress in its Brazilian rare earth reverse circulation (“RC”) drilling campaign, reporting overall weighted average grades of total rare earth oxides (“TREOs”) that are comparable or superior to other well-known international deposits.
In an Oct. 16 news release, the Company stated that it has assayed the first 17 of 147 drill holes that have been completed at its PCH Ionic Clay Project in Goias State, Brazil. 100 percent of the assays confirm rare earth element (“REE”) mineralization, demonstrating outstanding measures of Magnet Rare Earth Oxides (“MREOs”) and Heavy Rare Earth Oxides (“HREOs”) to an average depth of 13 meters from the surface.
“It’s very exciting to witness the PCH Ionic Clay project’s potential increasing through this Phase 1 drilling campaign,” Appia CEO Tom Drivas stated (https://ibn.fm/kOmrR). “Ionic Clay Rare Earths Deposits are usually found within the top 10-20m from surface; they are easier to mine, more environmentally friendly because they contain low or no radioactivity; exhibit simpler metallurgy (and are) therefore easier and cheaper to process; and contain good amounts of both the very valuable heavy and light magnet rare earths that are in high demand for cleaner electrification and use in a large number of high tech applications.”
Geology Manager Carlos Bastos, a Brazilian qualified person, added, “We have identified high-grade values that are exceptional in terms of both width and grades.”
The PCH Ionic Clay Project in Brazil’s Goiás State covers 17,551 hectares (43,369.5 acres, or 67.8 square miles), with the initial drill results all reported in the site’s “Target IV.” The positive results of the geochemical exploration analysis indicate the potential for mining REEs there, including erbium, cerium, dysprosium, praseodymium, neodymium, samarium, and others.
Over the past decade, rare earth elements have gained significant prominence due to their pivotal role in modern computer-based technologies. These elements, particularly high-tech magnets, are integral components in a wide array of products, spanning from computer hard drives and electric vehicle batteries to crucial engine components in advanced aircraft like the F-35 fighter jets.
The REE supply chain is largely controlled by industry within the People’s Republic of China and, therefore, that country’s governmental policies, leading to a renewed drive to source and refine REEs in Western nations, including the Americas. Appia’s Brazilian project represents an exciting development amid that push for Western REE sourcing.
The Company holds the right to acquire up to a 70 percent interest in the project.
Appia also 38,522 contiguous hectares (95,191 acres) of high-grade mineralization in northern Saskatchewan, Canada, that the company is exploring for REE potential, and recently completed an NI43-101 technical report on the property (https://ibn.fm/rPA9I). And the company has a 100 percent interest in 12,545 hectares (31,000 acres) with REE deposits in Ontario, Canada, as well as four uranium claim blocks in Northern Saskatchewan it may use for exploration.
The company is working to protect shareholders’ interests as it continues its exploration activities, reporting earlier this month that Appia “is unaware of any information relating to the Company that would account for the significant volume of trading and drop in the price of the Company’s shares that occurred on September 29, 2023,” for a market clarification (https://ibn.fm/ep2XI).
Appia’s most recent report states it has 130.5 million common shares outstanding, and 143.3 million shares fully diluted.
For more information, visit the company’s website at www.AppiaREU.com.
NOTE TO INVESTORS: The latest news and updates relating to APAAF are available in the company’s newsroom at https://ibn.fm/APAAF
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