TORONTO, ONTARIO--(Marketwired - Jan. 17, 2017) - Appia Energy Corp. (the "Company or "Appia") (CSE:API) is pleased to announce i) the receipt of necessary work permits from the Saskatchewan Ministry of Environment and Saskatchewan Water Security Agency to complete ground gravity surveys and a diamond drill hole program, and ii) the commencement of ground gravity surveys on its Loranger property (the "Property"). The gravity surveys are being carried out by MWH Geo-Surveys Ltd. of Vernon, BC. The purpose of the surveys is to identify clay alteration halos that are commonly associated with Athabasca Basin high-grade uranium deposits. The Property is located 28 km southeast of Cameco's Rabbit Lake mill, Athabasca Basin, northern Saskatchewan.
The gravity surveys will cover approximately 13.8 km of the 94.0 km of primary structural corridors that were identified on the Property from the recently completed airborne VTEM™ Max EM and magnetic survey (see Appia News Release dated December 13, 2016). The first survey will cover the historic Royal Canadian Ventures Grid No. 2 area ("RCV area") where surface sampling and diamond drilling programs from 1977 to 1979 have identified uranium mineralization at surface and down to a vertical depth of approximately 100 m. The first survey will also cover a highly conductive structural corridor that continues for 2.5 km southwest of the last drill hole fence from the historic drill programs.
The second gravity survey will cover a conductive structural corridor on the west side of the Major Tabbernor Fault. This conductive structural corridor is interpreted to be the continuation of the same corridor as that identified in the RCV area. The Major Tabbernor Fault has been interpreted to have offset the conductive structural corridors over approximately 8 km. Figure 1 of this News Release outlines the locations of the proposed gravity surveys.
A diamond drill hole program is planned following the completion of the gravity surveys. The diamond drill hole program will consist of approximately 15 drill holes totalling 2,000 metres, and will be directed by James Sykes, who has had direct and indirect involvement with over 350 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin. Drill holes will target the most prospective anomalies identified from both the recently completed airborne VTEM™ Max EM and magnetic surveys, and the current ground gravity surveys.
Appia is a Canadian publicly-traded company in the uranium and rare earth sectors. The Company is currently focused on discovering high-grade uranium deposits in the prolific Athabasca Basin on its recently acquired properties, Loranger and Otherside, as well as high-grade REO and uranium surface showings on its Alces Lake joint venture. The company currently holds the surface rights to exploration for about 63,564 hectares (157,070 acres) in Saskatchewan.
The company also has NI 43-101 compliant resources of 8.0 M lbs U3O8 and 47.7 M lbs TREE Indicated, and 47.7 M lbs U3O8 and 133.2 M lbs TREE Inferred in the Elliot Lake, ON, historic mining camp (previously reported in the Company's news release dated August 01, 2013). The resources are largely unconstrained along strike and down dip.
Appia currently has 45.1 million common shares outstanding, 49.1 million shares fully diluted.
The technical content concerning the 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.
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.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/appia_jan_17_2017_fig01.pdf