Appia Energy Identifies Multiple Radiometric Anomalies on Eastside Property, Athabasca Basin
In addition to confirming the presence of a historic radiometric anomaly which led to the discovery of uraniferous outcrops and boulders during ground prospecting between 1976 and 1978, the Survey identified multiple radiometric expressions of similar magnitude that are up-glacial ice trend from the uranium-rich boulders and outcrops. The strongest and broadest radiometric anomaly occurs northwest of the previously discovered uranium occurrences.
James Sykes, Vice-President, Exploration & Development, comments: "The historic uranium-rich outcrops and boulders correlate nicely with the Survey's radiometric anomalies, providing us with a valuable tool for continued uranium exploration on the Property. All of these newly identified radiometric expressions were not visited during the historic prospecting, and the potential exists for more uranium to be discovered at surface with follow-up ground prospecting".
The magnetic results of the Survey clearly identify that uranium mineralization occurs within a regional "bend". Furthermore, outcrops hosting uranium mineralization also occur along magnetic gradients, possibly indicating strong correlation with one or two repeated host-rocks controlling mineralization. A number of magnetic features are offset and have been interpreted as fault zones. The regional "bend", correlation with magnetic gradients and interpreted fault zones are similar geophysical characteristic to a number of Athabasca Basin high-grade uranium deposits.
Historic ground prospecting between 1976 and 1978 identified 161 individual outcrops and boulders containing elevated concentrations of uranium which returned a range of 2 to 7,575 ppm uranium, producing an average grade of 360 ppm uranium. Twelve samples contained greater than 1,000 ppm uranium. Three outcrop samples along a 1.7 km geological strike returned 2,538 ppm, 6,650 ppm and 7,575 ppm uranium. Five boulders of similar lithological provenance to the outcrops, and located down-ice from the outcrops, returned greater than 1,000 ppm uranium.
The Company plans to follow-up the Survey with ground prospecting over radiometric and structural target areas in the summer 2018.
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 recently acquired properties, Loranger, Otherside and Eastside, as well as delineating high-grade REEs and uranium on the Alces Lake property. The company holds the surface rights to exploration for about 61,726 hectares (152,529 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 concerning the Eastside property 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.
Eastside Property Airborne Geophysical Survey
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Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) email@example.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org