Toronto, Ontario--(ACN Newswire - November 7, 2023) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE: A0I0.BE) (the "Company" or "Appia") is pleased to announce that it has engaged SGS Geological Services (SGS) to prepare a comprehensive NI 43-101 technical report on Appia's PCH Rare Earths Ionic Clay Project including a Maiden Mineral Resource Estimate (MRE) on target IV.
This marks a significant step forward in the exploration and potential development of the PCH Project. PCH is located approximately 30 km (about 18.64 mi) from Iporá, Goya's State Brazil and is situated within a region well known for its significant mineral exploration potential, mining activity, and well-developed infrastructure.
Appia's ongoing exploration program is characterized by a comprehensive approach, incorporating a range of methodologies such as Reverse Circulation (RC) drilling, extensive auger sampling, diamond drilling, and LiDAR surveying. Recent assays have confirmed mineralization from surface as reported in the press release dated October 31, 2023.
The SGS team brings to the table a wealth of experience in the mineral and mining industry, particularly in precious metals, base metals, and critical minerals, including rare earths. Their expertise in metallurgy and process development remains unmatched worldwide, making them an ideal candidate for Appia in this endeavor.
The primary objective is to complete a maiden MRE on Target IV and an NI 43-101 Technical Report in support of the MRE, based on the comprehensive data provided by Appia. SGS is slated to commence their work promptly upon the receipt of the database, with the anticipated delivery of results expected within a 10-to-12-week timeframe from onset of the work. SGS is expected to receive the database in the coming weeks.
"Appia's collaboration with SGS marks an important milestone for the PCH Project," said Stephen Burega, President of Appia. "We are confident that SGS's expertise will bring us one step closer to realizing the full potential of the PCH Project."
Appia will provide timely updates to shareholders and the general public as assay results are received from the remaining 129 RC, 106 Auger drill holes, and 1 diamond drill hole.
Appia also wished to announce that it has engaged Outside The Box Capital Inc. ("OTB Capital") to perform market awareness and marketing services for an initial term of one year. The nature of the services to be provided by OTB Capital include, but are not limited to, marketing services to communicate to the financial community information about the Company. OTB is a marketing services firm based in Canada.
In addition to a fee of $120,000 plus applicable taxes, the Company has granted OTB Capital 436,364 options exercisable at $0.275 per share until the earlier of three years and 90 days following the termination of the agreement with OTB Capital.
The Company has also granted an aggregate of 750,000 options exerciseable at $0.275 per share for 3 years to two other consultants. 500,000 options granted to one consultant are subject to vesting as to 50% immediately and 50% in 3 months.
About SGS Geological Services:
SGS Geological Services is a global leader in the mineral and mining industry, offering unmatched technical expertise in metallurgy and process development. With a strong reputation for quality and integrity, SGS provides comprehensive geological services to clients worldwide.
About Appia Rare Earths and Uranium Corp.
Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company is currently focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 113,837.15 hectares (281,297.72 acres) in Saskatchewan. The Company also has a 100% interest in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. Lastly, the Company holds the right to acquire up to a 70% interest in the PCH Project which is 17,551.07 ha. in size and located within the Goiás State of Brazil. (See June 9th, 2023, Press Release - Click Here)
Appia has 130.5 million common shares outstanding, 143.3 million shares fully diluted.
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 a guarantee 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, CEO and Director: (cell) 416-876-3957 or (email) tdrivas@appiareu.com
Stephen Burega, President: (cell) 647-515-3734 or (email) sburega@appiareu.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186526
