Appia to Conduct a Targeted, High Resolution, Airborne Gravity Survey over the REE-Rich Alces Lake Property, Saskatchewan, Canada

Rhea-AI Summary

Appia Rare Earths & Uranium Corp. (APAAF) announced a high-resolution, airborne gravity survey over its Alces Lake property in Saskatchewan, starting in early June 2024. Conducted by Xcalibur Multiphysics, this survey will cover 1,053 line kilometers with 100-meter line spacing, focusing on the property's regional fold and NW-SE regional shear zone. The Falcon Airborne Gravity Gradiometer (AGG) and Magnetic survey aims to provide critical subsurface imaging to guide future exploration, targeting rare earth element (REE) mineralization. The survey data will assist in identifying new REE targets at depths of 200 to 1,000 meters and integrate with other geophysical data for future drilling targets in late 2024 and 2025. This marks a significant step in Appia's strategy to enhance exploration efforts for REE occurrences.

Positive

• Appia is conducting a high-resolution airborne gravity survey, which shows advancement in exploration technology.
• The survey covers 1,053 line kilometers, indicating extensive research coverage.
• Focus on high-priority areas such as the NW-SE regional shear zone and Alces Lake regional fold, suggesting targeted exploration.
• Survey targets rare earth element (REE) mineralization, aligning with the company’s strategic goals.
• Potential identification of new REE targets at depths of 200 to 1,000 meters could significantly enhance resource estimates.
• Integration of survey data with existing geophysical, outcrop, and drillhole data sets for future drilling, indicating a systematic approach to exploration.

Negative

• The costs associated with conducting a high-resolution airborne survey could be substantial.
• Risks of not finding significant new REE targets despite the advanced survey technology.
• Delay in realizing financial benefits as drilling targets are planned for late 2024 and 2025.
• Potential shareholder dilution if additional funding is required for future exploration activities.

Toronto, Ontario--(Newsfile Corp. - June 6, 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 upcoming Falcon Airborne Gravity Gradiometer (AGG) and Magnetic survey over its Alces Lake property in northern Saskatchewan. This survey, conducted by Xcalibur Multiphysics, aims to provide high-resolution, low-noise subsurface imaging of the Alces Lake lithological units and structure. The data will guide Appia's future exploration efforts, targeting the dense mineralization hosts (i.e. biotite pegmatites, high-grade veins, amphibolites, Fe-Mg-rich paragneisses) of the property's rare earth element (REE) occurrences.

Stephen Burega, President, stated: "I am very excited to announce we are launching a high-resolution Falcon Airborne Gravity Gradiometer and Magnetic survey over high priority areas of our Alces Lake property. This survey will provide critical data to guide our future exploration and identify new rare earth element targets beneath the surface at depths of 200 to 1,000 meters, marking a significant step in our exploration strategy."

Starting in early June 2024, the Falcon AGG Survey will cover 1,053 line kilometers with 100-meter line spacing, focusing on the Alces Lake regional fold and the northern portion of the property's NW-SE regional shear zone (Figure 1). These areas host the property's most significant REE occurrences to date, including the high-grade WRCB zone, and high-tonnage Magnet Ridge and AMP zones. This survey will not only highlight the unique characteristics of these discovered mineralized zones, but also identify new, similar targets at unexplored depths of 200 to 1,000 meters. This advanced survey is a significant step in Appia's exploration strategy, providing crucial data to integrate and interpret with other geophysical, outcrop, and drillhole data sets for delineating future drilling targets in late 2024 and 2025.

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

Figure 1 - Flight Plans - Airborne Gravity Gradiometer Survey - Excalibur Multiphysics

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5416/211878_338ddde2a46ec8a4_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/211878

FAQ

What is the purpose of Appia's airborne gravity survey at Alces Lake?

The survey aims to provide high-resolution subsurface imaging to guide future exploration and identify new rare earth element targets.

When will Appia's airborne gravity survey at Alces Lake start?

The survey will start in early June 2024.

What areas will Appia's airborne gravity survey cover at Alces Lake?

The survey will cover 1,053 line kilometers focusing on the Alces Lake regional fold and NW-SE regional shear zone.

How deep will Appia's survey at Alces Lake explore for rare earth elements?

The survey aims to identify targets at depths of 200 to 1,000 meters.

Which company is conducting Appia's airborne gravity survey?

Xcalibur Multiphysics is conducting the survey.

How will the data from Appia's airborne gravity survey be used?

The data will be integrated with other geophysical, outcrop, and drillhole data to delineate future drilling targets.