Appia to Conduct a Diamond Drilling Program at Its Uranium-Bearing Loranger Property, Wollaston Lake, Saskatchewan, Canada

Rhea-AI Summary

Appia Rare Earths & Uranium Corp. (CSE: API, OTCQX: APAAF) announced plans to start a diamond drilling program at its Loranger property, located near the uranium-rich Athabasca Basin in Saskatchewan, Canada. The operation will target NE-SW electromagnetic conductors identified in a 2021 geophysical survey, with drilling to commence mid-June 2024.

The company will drill up to 1,000 meters across 3-4 holes at depths of 200-300 meters, supported by Mustang Helicopters Inc. and Apex Diamond Drilling The project will involve local community workers from the Hatchet Lake First Nations Band to foster community engagement and support.

This program represents a significant step in exploring and developing the Loranger property. The initiative is overseen by Dr. Irvine R. Annesley, a Qualified Person as defined by National Instrument 43-101.

Positive

• Appia plans to start a diamond drilling program at its Loranger property, a move that could uncover significant uranium deposits.
• The Loranger property is strategically located near the uranium-rich Athabasca Basin.
• Drilling targets NE-SW electromagnetic conductors identified in a 2021 survey, indicating precise and informed exploration efforts.
• The project will drill up to 1,000 meters across 3-4 holes, showing a substantial commitment to exploration.
• Support from Mustang Helicopters Inc. and Apex Diamond Drilling ensures professional and capable operation management.
• The initiative involves local community workers from the Hatchet Lake First Nations Band, fostering local engagement and support.
• The program is overseen by Dr. Irvine R. Annesley, a Qualified Person under National Instrument 43-101, ensuring technical credibility.

Negative

• The announcement did not provide specific financial data or funding details for the drilling program, leaving uncertainty about financial implications for shareholders.
• The drilling depths of 200-300 meters are relatively shallow, which may limit the extent of uranium discovery.
• Relying on data from a 2021 survey means there may be uncertainties due to the time gap in data relevance.

Toronto, Ontario--(Newsfile Corp. - June 13, 2024) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") is pleased to announce the details regarding their upcoming diamond drilling program at their Loranger property, SK. Located within the eastern Wollaston Domain, Loranger is situated adjacent to the renowned, uranium-rich Athabasca Basin and holds strong potential for hosting valuable uranium deposits. The focus of this program is to strategically target highlighted NE-SW electromagnetic conductors at depth (Figure 1) using results from the VTEM Plus geophysical survey conducted in 2021 by Geotech Airborne Geophysical Surveys Ltd.

Stephen Burega, President, stated: "We are looking forward to getting our diamond drilling program at Loranger underway. The project is adjacent to the east side of the uranium-rich Athabasca Basin, and this program targets NE-SW electromagnetic conductors identified by the 2021 Resistivity Depth Imaging survey, aiming to uncover significant uranium deposits."

Starting mid-June, 2024, Appia aims to drill 1,000 total meters across 3 to 4 drill holes, targeting depths of 200 to 300 meters. The operation will be supported by Mustang Helicopters Inc., utilizing one Hydracore Diamond Drill supplied and operated by Apex Diamond Drilling Ltd. In a collaborative effort with YNLR and the local Hatchet Lake First Nations Band, the Loranger project will be proudly supported by local community employees, infrastructure, materials, and resources.

The Loranger drilling program will mark a significant advancement in the exploration and development of this Saskatchewan property, underscoring the Company's commitment to engaging and supporting local communities while pursuing its strategic objectives.

Dr. Irvine R. Annesley, P.Geo., Senior Technical Advisor and a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information in this news release.

Figure 1 - Loranger Diamond Drill Targets, Wollaston Lake, SK, 2024

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/212770_ca44c8fcb497bae2_001full.jpg

About Appia Rare Earths & Uranium Corp. (Appia)

Appia is a publicly traded Canadian company in the rare earth element and uranium sectors. The Company holds the right to acquire up to a 70% interest in the PCH Ionic Adsorption Clay Project (See June 9th, 2023 Press Release - Click HERE) which is 40,963.18 ha. in size and located within the Goiás State of Brazil. (See January 11th, 2024 Press Release - Click HERE) The Company is also focusing on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, and 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 94,982.39 hectares (234,706.59 acres) in Saskatchewan. The Company also has a 100% interest in 13,008 hectares (32,143 acres), with rare earth elements and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario.

Appia has 136.3 million common shares outstanding, 145 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 more information, visit www.appiareu.com.

As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have several communication portals. If you have any questions online (X, Facebook, LinkedIn) please feel free to send direct messages.

To book a one-on-one 30-minute Zoom video call, please click here.

Contact:

Tom Drivas, CEO and Director 
(c) (416) 876-3957
(f) (416) 218-9772
(e) tdrivas@appiareu.com

Stephen Burega, President
(c) (647) 515-3734
(e) sburega@appiareu.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/212770

FAQ

What is the focus of Appia's upcoming diamond drilling program?

The focus is to target NE-SW electromagnetic conductors at depth identified in a 2021 geophysical survey at the Loranger property.

When will Appia start its diamond drilling at the Loranger property?

Appia plans to start the diamond drilling program in mid-June 2024.

How deep will Appia drill at the Loranger property?

Appia will drill depths of 200 to 300 meters across 3 to 4 drill holes.

Which companies are supporting Appia's drilling operations at Loranger?

Mustang Helicopters Inc. and Apex Diamond Drilling are supporting the operations.

How is Appia involving the local community in its Loranger drilling project?

Appia is involving local community employees from the Hatchet Lake First Nations Band for support in infrastructure, materials, and resources.