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Appia Rare Earths & Uranium Corp
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Appia drills 3.46 m of 3.51% TREO at Alces Lake

2022-07-06 11:36 ET - News Release

Mr. Tom Drivas reports

APPIA ANNOUNCES FURTHER 2021 ASSAY RESULTS AND PROVIDES DRILLING UPDATE FOR ALCES LAKE RARE EARTH PROPERTY, NORTHERN SASKATCHEWAN

Appia Rare Earths & Uranium Corp. has released assay results from the remainder of its 2021 drilling program, including results from the Western Anomaly area of the 100-per-cent-owned Alces Lake high-grade rare earth elements and gallium property, Athabasca basin area, Northern Saskatchewan.

Highlights:

  • Multiple total rare earth oxide (TREO) intercepts in three Sweet Chili Heat holes close to surface in the Western anomaly (WA) (see the "Summary of regional drilling assay results" table);
  • Sweet Chili Heat 21-SCH-001 intersected 3.46 metres of 3.518 weight per cent TREO, including 11.82 weight per cent TREO over 0.36 metre at a depth of 6.94 metres (see Table 2);
  • Sweet Chili Heat 21-SCH-002 intersected 2.40 metres of 1.271 weight per cent TREO, including 7.99 weight per cent TREO over 0.23 metre at a depth of 6.09 metres and 9.67 weight per cent over 0.24 metre at a depth of 21.06 metres (see Table 2);
  • Sweet Chili Heat 21-SCH-003 intersected 1.30 metres of 3.28 weight per cent TREO, including 12.65 weight per cent TREO over 0.32 metre at a depth of 12.20 metres (see Table 2);
  • Diablo 21-DIA-001 (also located in the WA) intersected 6.13 metres of 1.836 weight per cent TREO, including 14.96 weight per cent TREO over 0.66 metre at a depth of 7.64 metres (see Table 2);
  • Phase 1 drilling now complete at Magnet Ridge (formerly Augier) with a total of 34 holes being completed; waiting on assay results;
  • A new discovery of anomalous radioactivity at Magnet Ridge West with drilled widths up to 49 metres in 10 new holes.

Frederick Kozak, president of Appia, said: "The remaining assay results are better than the channel sample results previously released and confirm rare earths potential in the Western anomaly area. This is a very promising new discovery area and will be the focus of future exploration. High grades found at Diablo and Sweet Chili Heat point to the potential of these two areas with much more exploration drilling to be done. On completion of drilling in the highly prospective WRCB-Magnet Ridge area, Appia will commence drilling on other prospective areas, including the Western anomaly targets."

Appia drilled a total of 100 holes in 2021 for a total of approximately 8,076 metres. Of these holes, 14 were drilled into the Sweet Chilli Heat prospect and four were drilled into the Diablo prospect. Closer to WRCB, a total of 13 holes were drilled into the Biotite Lake prospect and seven holes were drilled at Danny.

Drilling update

As previously announced, Appia commenced drilling in March, 2022, and, to date, has drilled just over 14,000 metres at WRCB, Magnet Ridge, Magnet Ridge West, Strocen and the Western limb. Appia plans to drill up to 20,000 metres in the 2022 field season.

In the now-completed first phase of drilling at Magnet Ridge (previously known as Augier), a total of 34 holes have been drilled for a total of 5,253 metres. The initial view of the Magnet Ridge zone has been previously described; it outcrops on surface. It is approximately 300 metres in strike length, approximately 175 metres wide and has been penetrated over 100 metres down dip. The zone has similar visual characteristics to the recently discovered AMP zone at WRCB, but assay results will provide a better view of the properties of Magnet Ridge in the near future. A few assay results have been received for a portion of the first hole, but Appia is waiting on the complete results to analyze and interpret this new discovery.

Appia has now drilled a total of 10 holes into Magnet Ridge West (MRW) and is seeing similar levels of anomalous radioactivity compared with Magnet Ridge. This also appears to be comparable to the AMP zone at WRCB, although no assay results have as yet been received for MRW. Drilled width at MRW has been up to 49 metres, similar to Magnet Ridge. In some of the holes, there has been more than one section of anomalous radioactivity, separated by intervals of non-radioactive rock. Up to 12 holes are planned for MRW.

Drilling at Strocen was inconclusive with 587 metres drilled in five holes on that prospect. Recent 2022 field exploration on the Western Limb, southwest of WRCB, yielded two surface readings of anomalous radioactivity of 10,000 counts per second (CPS) and 41,000 CPS. To date two holes have been completed at the Western limb and a third is currently being drilled. Up to eight holes may be drilled in this area.

Update on maiden resource estimate

As previously disclosed, Appia is working toward a maiden resource estimate for the area. Industry delays through 2021 continue into 2022 for receipt of assay results. Appia has engaged the services of a second assay lab to process the increased volume of samples being generated by the 2022 drilling program. It is expected that the maiden resources estimate will initially be for the WRCB and Magnet Ridge areas. Timing of the report has yet to be determined but is likely closer to the end of 2022, depending on industry activity.

About the Alces Lake project

The Alces Lake project encompasses some of the highest-grade total and critical rare earth elements (REE) and gallium mineralization in the world, hosted within several surface and near-surface monazite occurrences that remain open at depth and along strike.

Appia recommenced drilling at Alces Lake in mid-March, 2022, and plans to drill significantly deeper holes compared with the 100 holes (approximately 8,076 metres) drilled in 2021. This is designed to allow Appia to determine continuity at depth and along the identified REE mineralization trends as the company works toward a maiden resource estimate, to be prepared in accordance with National Instrument (NI) 43-101 for the area. With high-grade REE mineralization now identified in many locations within an area covering approximately 27 square kilometres of the Alces Lake block, the company believes the project has the potential to be a world-class source of high-grade critical rare earth bearing monazite.

The Alces Lake project is located in Northern Saskatchewan, the same provincial jurisdiction that is developing a first-of-its-kind rare earth processing facility in Canada (currently under construction by the Saskatchewan Research Council and scheduled to become operational in early 2023). The Alces Lake project area is 35,682 hectares (88,173 acres) in size and is 100-per-cent-owned by Appia.

To ensure safe work conditions are met for the work force, the company has developed exploration guidelines that comply with the Saskatchewan Public Health Orders and the Public Health Order Respecting the Northern Saskatchewan Administration District in order to maintain social distancing and help prevent the transmission of COVID-19.

All lithogeochemical assay results were provided by Saskatchewan Research Council's geoanalytical laboratory, an International Organization for Standardisation (ISO)/ International Electrotechnical Commission (IEC) 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, Sask. All analytical results reported herein have passed internal quality assurance/quality control (QA/QC) review and compilation.

The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, PGeo, adviser to Appia's board of directors and a qualified person as defined by National Instrument 43-101.

About Appia Rare Earths & Uranium Corp.

Appia is a Canadian publicly listed 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 105,026 hectares (259,525 acres) in Saskatchewan. The company also has a 100-per-cent 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.

Appia has 123.1 million common shares outstanding and 141.3 million shares fully diluted.

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