|To: LoneClone who wrote (18200)||6/17/2019 12:43:04 PM|
|Ely Gold Options its Castle West Property to Bitterroot Resources|
NewsfileJune 17, 2019
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2019) - Ely Gold Royalties Inc. (TSXV: ELY) (OTCQB: ELYGF) ("Ely Gold") or the ("Company") is pleased to announce that, through its wholly owned subsidiary Nevada Select Royalty, Inc ("Nevada Select"), it has signed an option agreement (the "Agreement") with Bitterroot Resources Ltd. (TSXV: BTT) and its US subsidiary Trans Superior Resources, Inc. ("Bitterroot") whereby Bitterroot will have an option to purchase a 100% interest in the Castle West property located in Esmerelda County, Nevada (the "Property") for a purchase price of US$241,000, payable over four years. Nevada Select will retain a 3.0% Net Smelter Return ("NSR") royalty on any precious metals production.
Under the terms of the Agreement, Bitterroot has paid Nevada Select US$1,000 and will pay US$15,000 on the first anniversary of Closing. On each of the second, third and fourth anniversaries of Closing, Bitterroot will pay US$40,000. A final payment of US$105,000 will be made on the fifth anniversary for the conveyance of the 100% interest in the Property. Bitterroot will make minimum advance royalty payments of US$5,000 on the first and second anniversaries of exercising of the option and US$10,000 on subsequent anniversaries. Bitterroot has the right to buy down 1% of the NSR for a payment of US$1,000,000.
The Property is comprised of 34 unpatented mining claims and 3 leased unpatented claims. Upon Option Exercise, Bitterroot will be assigned the lease and Nevada Select will retain a 1% NSR on the leased claims. The Castle West property hosts a high level, low-sulfidation epithermal gold system. The current erosional surface represents the top of a major epithermal system, as evidenced by large areas of quartz-sericite alteration and the presence of high-grade gold-silver mineralized veins. Surface rock chip samples taken across one to two-metre wide veins returned grades of 15-57 grams gold/tonne, 99-370 grams silver/tonne and 60-370 ppm mercury, with high levels of arsenic, molybdenum and antimony. Gold/silver mineralization occurs in strongly altered Tertiary-aged felsic tuffs and andesitic flows. Previous drilling, mapping and surface sampling by Kinross Gold USA Inc. identified near-surface and deeper bulk tonnage gold-bearing targets, together with potential for bonanza-style high-grade gold mineralized veins and feeder structures. Ely Gold has provided Bitterroot with a large database of geologic and geochemical data collected by previous operators.
About Ely Gold Royalties Inc. Ely Gold Royalties Inc. is a Vancouver-based, emerging royalty company with development assets focused in Nevada and Quebec. Its current portfolio includes 33 Deeded Royalties and 22 properties optioned to third parties. Ely Gold's royalty portfolio includes producing royalties, fully permitted mines and development projects that are at or near producing mines. The Company is actively seeking opportunities to purchase existing third-party royalties for its portfolio and all the Company's option properties are expected to produce royalties, if exercised. The royalty and option portfolios are currently generating significant revenue. Ely Gold is well positioned with its current portfolio of over 20 available properties to generate additional operating revenue through option and sale agreements. The Company has a proven track record of maximizing the value of its properties through claim consolidation and advancement using its extensive, proprietary data base. All portfolio properties are sold or optioned on a 100% basis, while the Company retains royalty interests. Management believes that due to the Company's ability to generate third-party royalty agreements, its successful strategy of organically creating royalties, its equity portfolio and its current low valuation, Ely Gold offers shareholders a low-risk leverage to the current price of gold and low-cost access to long-term mineral royalties.
Stephen Kenwood, P. Geo, is a director of the Company and a Qualified Person as defined by NI 43-101. Mr. Kenwood has reviewed and approved the technical information in this press release.
On Behalf of the Board of Directors
Signed "Trey Wasser"
Trey Wasser, President & CEO
For further information, please contact:
Trey Wasser, President & CEO
Joanne Jobin, Investor Relations Officer
647 964 0292
Caution: This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, including statements regarding the timing and size of the proposed Placement , the anticipated use of proceeds, the required Exchange acceptance of the presently proposed transactions, the future exercise of options on the Company's properties, the ability of the Company to generate and acquire new royalty interests, the Company's prospects for future revenue generation, management's assessment of the risks associated with the Company's business and stated plans for further near-term exploration and development of the Company's properties. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk of accidents and other risks associated with mineral exploration, development and extraction operations, the risk that its partners will encounter unanticipated geological factors, or the possibility that they may not be able to secure permitting and other governmental clearances, necessary to carry out their stated plans for the Company's properties, the Company's inability to secure the required Exchange acceptance required for the Placement , and the risk of political uncertainties and regulatory or legal disputes or changes in the jurisdictions where the Company carries on its business that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effect.
Not for distribution to United States newswire services or for dissemination in the United States
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release, as required by applicable Canadian laws, is not for distribution to
U.S. newswire services or for dissemination in the United States
To view the source version of this press release, please visit newsfilecorp.com
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|To: LoneClone who wrote (18201)||6/17/2019 12:50:12 PM|
|Barrian Mining Selects Drill Targets for Upcoming Drill Program Including High Priority Target of 500+ Metre Geophysical Anomaly |
Barrian Mining Corp. Jun 10, 2019, 00:05 ET
The plan map shows the proposed drill hole locations to test geophysical anomalies and extensions to known gold and silver zones
The section map shows proposed drill hole locations designed to test geophysical anomalies down-dip of drill-defined mineralization at the South Mine Fault Zone and the untested western conductive anomaly. * The true width of mineralization is estimated to be approximately 50% of drilled width
VANCOUVER, June 10, 2019 /CNW/ - Barrian Mining Corp. ("Barrian" or the "Company") (TSX-V: BARI) (FSE: BM5) is pleased to announce drill target selections for the upcoming 1,800 metre (5,500 ft) reverse circulation (RC) drilling program at the Bolo Gold Property. The program is designed to expand the footprint of drill-defined gold mineralization of the Mine Fault trend, both along strike and at depth. Planned South Mine Fault (SMF) Zone step-out drilling will extend to the north and south of previous drill intercepts that graded 3.24 grams-per-tonne (g/t) gold over 30.5 metres within a broader zone of mineralization averaging 1.28 g/t gold over 133 metres in drill hole BL-38, and 1.1 g/t gold over 90 metres including 40.9 metres of 2.05 g/t gold* from surface in drill hole BL-39. Drilling will also test a new discovery target, identified by the recently completed induced-polarization (IP) and resistivity geophysical survey.
Kris Raffle, P.Geo., Director and QP stated, "The 2019 drilling program has the potential to expand the historically drilled footprint of SMF Zone mineralization. We eagerly anticipate commencement of the 2019 Bolo drill program, which is designed to build on favorable results from previous drill campaigns by incorporating the recently acquired IP/resistivity geophysical survey results. The newly identified geophysical anomaly west of the SMF Zone is particularly intriguing given its potential to represent a new discovery sub-parallel to the main Mine Fault trend".
The SMF Zone forms part of a +1.1 kilometre combined gold and silver in RC drill hole and conductive geophysical anomaly coincident with the Mine Fault trend. North of the SMF Zone, geophysical results indicate that previous drill holes often failed to adequately test the Mine Fault conductive anomaly. The planned step-out drilling at SMF targeting the conductive anomaly has the potential to add up to 200 metres of mineralized strike length, with the potential for additional expansion during subsequent programs (see Figure 1). The geophysical results also suggest significant vertical continuity of conductive anomalies at the SMF Zone ranging from between 250 and 400 metres depth, the limit of the geophysical inversion. The planned drilling, in part, targets the down-dip extension of previously defined mineralization coincident with these geophysical anomalies (see Figure 2). The geologic and geophysical evidence suggests that the previously drilled gold and silver zones at Bolo could be inter-connected along Mine Fault trend structure.
New discovery drilling is planned for an untested, +500 metre linear conductive anomaly located approximately 150 to 200 metres west of the SMF Zone (see Figures 1 and 2). The anomaly is near surface, of similar amplitude to the Mine Fault anomaly, and ranges from 80 to 200 metres wide and 100 to 150 metres in vertical extent. It is sub-parallel to the Mine Fault Trend and may be part of the same fault system that hosts a distinct silver and gold mineralized zone at the Uncle Sam prospect.
About Barrian Mining Corp.
Barrian Mining Corp is a new gold exploration company focused on acquiring and advancing precious metal projects in the United States. Barrian's flagship Bolo Project, located 90km northeast of Tonopah Nevada, hosts Carlin type gold mineralization and is fully funded and permitted. In addition, Barrian has an earn-in option to acquire 100% of the "Sleeper Project" which is located in the historic Mogollon epithermal silver-gold mining district of New Mexico. Barrian is run by a strong management and technical team consisting of capital market and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions. Barrian trades on the TSXV under the ticker symbol "BARI", and on the German (Frankfurt) exchanges using the ticker symbol "BM5".
The scientific and technical information contained in this news release as it relates to the Bolo Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors
s/ "Max Sali"
Max Sali, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's plans and timing for its properties/projects, other statements relating to the technical, financial and business prospects of the Company, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; * competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) the uncertainty of profitability based upon the Company's history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"); (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks and uncertainties related to the Company's prospects, properties and business strategy. These risks, as well as others, could cause actual results and events to vary significantly.
Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, exchange rate fluctuations, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Barrian Mining Corp.
For further information: Max Sali, Chief Executive Officer & Director, Tel: (604) 620-8406, Email: email@example.com
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|From: LoneClone||6/17/2019 8:37:19 PM|
| Blue Sky sees first-mover advantage in Argentina uranium, vanadium market |
14th June 2019
By: Nadine James
Creamer Media Writer
TSX-listed Blue Sky Uranium CEO Niko Cacos tells Mining Weekly Online the uranium market is in the early stages of a longer-term rising price trend.
Blue Sky, which owns the Amarillo Grande uranium/vanadium project (AGP), in Rio Negro, Argentina, expects to take advantage as uranium prices continue to recover from the impact of the 2011 Fukushima Daiichi nuclear power plant disaster.
Improvements in technology and safety following the 2011 accident and shutdown, combined with the need for greener baseload energy, have resulted in renewed interest in, and construction of, nuclear power plants, the company says.
Cacos says the company has noted a steady rise in uranium prices in the last year to year-and-a-half, with more countries adopting nuclear energy as a way to generate safe, secure and efficient electricity.
The AGP has a resource of about 22.7-million pounds of uranium and 28-million pounds of vanadium, and Cacos expects Blue Sky to have a significant first-mover advantage as Argentina has a “reasonably well-developed” nuclear energy sector, but does not produce uranium.
“ Argentina has three nuclear reactors that are active and producing. There’s another one under construction and there are more in the planning stage . . . domestic law mandates that any domestic production of uranium has preference. . . the plants would be required to [buy uranium] from a domestic source and right now there is no other domestic source.”
Cacos notes that the project’s shallow mineralisation, which occurs within 25 m of the surface, will allow for “extremely cost effective” extraction.
Security of uranium supply was elevated into the global consciousness last week, following a Bloomberg report that the US was reviewing a petition by US-based uranium companies that were requesting that a quarter of US demand be filled by domestic supply.
The US Commerce Department had also released a report last week after Chinese officials suggested rare earths and other critical minerals could be used as leverage in the ongoing US- China trade war.
Cacos notes that the US consumes 25% to 30% of global uranium. “I can understand that when that significant a portion of your electricity supply is dependent on imports, it presents a risk.”
He comments that the US “did the same thing with oil and gas,” prioritising its local industry and increasing fracking to reduce the reliance on imports. However, he believes that if the US chooses to prioritise domestic uranium production, it will only boost prices.
“The domestic market in the US will pay whatever they need to pay to buy domestic uranium and that will, in a way, limit supply available on the global market and I think we’ll begin to see rising prices in the overall market."
Meanwhile, the AGP also has a substantial vanadium resource which may also provide Blue Sky with a first-mover advantage.
“Interestingly, in Argentina, there’s a huge need for vanadium,” Cacos notes, explaining that it is primarily used as a steel hardener and that Argentina’s burgeoning oil and gas industry and its subsequent steel demand, presents a considerable market opportunity.
Moreover, he explains that vanadium prices have also been increasing, following China’s mandate to increase vanadium use in its steel manufacturing sector.
Cacos points out that Blue Sky last month launched an expanded exploration programme on the AGP.
The programme is expected to last about six months, with the company expecting to begin the permitting and engineering processes in late 2019 or early 2020.
“We have a uranium deposit at Ivana which has a resource of about 11-million pounds and this is over a 3 km by 3 km area . . . our property package covers an entire district, which has a strike length of about 145 km long and 50 km wide. . .
“The work that we’ve done over the last few years shows that there are uranium occurrences throughout the entire district,” he comments, adding that he expects to see the AGP grow into one of the largest uranium districts in the world.
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|From: LoneClone||6/19/2019 11:49:07 AM|
| Virginia uranium-mining ban upheld by US Supreme Court |
17th June 2019
WASHINGTON – The US Supreme Court upheld a Virginia law that bans mining at the nation’s largest known uranium deposit, rejecting a challenge pressed by the owners of the property with help from the Trump administration.
Voting 6-3, the justices said Virginia’s uranium- mining ban is in accord with a 1954 federal law that gives the US Nuclear Regulatory Commission power over atomic safety. The majority said the 1954 law didn’t affect the longstanding power of states to regulate mining.
“Every indication in the law before us suggests that Congress elected to leave mining regulation on private land to the states and grant the NRC regulatory authority only after uranium is removed from the Earth,” Justice Neil Gorsuch wrote in the court’s lead opinion.
The landowners contended the state’s law, though phrased as a ban on mining, was actually driven by radiological safety concerns over the process of milling the ore and the disposition of mine waste known as tailings.
Gorsuch said the court should be hesitant to scrutinize the reasons behind a state measure, saying that would “require serious intrusions into state legislative processes.”
OWNED BY JEFFERSON
That aspect of his opinion drew objections from three members of the majority -- Justices Ruth Bader Ginsburg, Sonia Sotomayor and Elena Kagan. Ginsburg said in a separate opinion for that group that Gorsuch’s discussion “sweeps well beyond the confines of this case, and therefore seems to me inappropriate in an opinion speaking for the court, rather than for individual members of the court.”
Only Justices Clarence Thomas and Brett Kavanaugh joined Gorsuch’s opinion. Chief Justice John Roberts and Justices Stephen Breyer and Samuel Alito dissented.
The property, about 30 miles north of the North Carolina border in Pittsylvania County, was once owned by Thomas Jefferson. It’s now controlled by Virginia Energy Resources Inc. and the family of Walter Coles Sr. The Coles family first learned there might be uranium on the property in the 1970s.
The site contains an estimated 119-million pounds of uranium. Once valued at $6 billion, the deposit could displace the imports that now constitute 90% of the uranium used by the nation’s nuclear power plants.
Virginia first banned uranium mining in 1982 following the Three Mile Island nuclear power station partial meltdown near Harrisburg, Pennsylvania, three years earlier.
The case is Virginia Uranium v. Warren, 16-1275.
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|From: LoneClone||6/22/2019 9:41:14 PM|
|Appia Identifies 900 Meter-Long Uranium Mineralization Trend on the Loranger Property|
NewsfileJune 18, 2019
Toronto, Ontario--(Newsfile Corp. - June 18, 2019) - Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the "Company" or "Appia") is pleased to report the assay results from the completed diamond drill program (the "Program") on the Loranger property (the "Property"). The Property is located 28 km southeast of Cameco's Rabbit Lake mill, Athabasca Basin, northern Saskatchewan.
Highlights of the winter drilling include 3.15 m of 0.032 wt% U3O8 at 96.75 m drill hole depth in hole LOR-19-03 and 0.7 m grading 0.066 wt% U3O8 at 105.5 m drill hole depth in hole LOR-19-02. U3O8 assay results for the drill holes are presented in Table 1. A total of 1,063 metres was completed in eight drill holes covering three target areas (Figure 1).
Mr. James Sykes, Appia's Vice-President, Exploration and Development, comments: "We are pleased with the drill results. First, we've confirmed uranium mineralization in two target areas, and especially the drill holes within Target Area 2 (LOR-19-01 to LOR-19-04A), a 900 m long area, all intersected uranium mineralization. Second, we observed uranium "depletion" associated with a massive hydrothermal fluid fault network system encountered in Target Area 1 (LOR-19-07A and LOR-19-08), indicating uranium has been mobilized and potentially "re-deposited" somewhere along the structural trends. Third, the uranium mineralization drill hole assay results mostly correlate with hydrothermal alteration styles and re-mobilized ductile/brittle structural zones encountered in both target areas. In particular, we observe redox fronts (hematite +/- limonite with bleaching) showing elemental ratios (Up/Ut, Tht/Ut, Pb206/Pb204) typical of uranium fluid pathways. Fourth, boron (a uranium pathfinder element) is commonly elevated (i.e. >100 ppm and at least more than twice the background) in the re-mobilized graphitic/carbonaceous material ductile/brittle structural zones, with drill hole LOR-19-08 exhibiting the highest concentrations of boron (121 to 263 ppm B)."
Together with the 2017 program, the Company has tested only 5 of the 22 previously identified gravity low targets and covered only 2.3 km of the 94.0 total km of conductive strike length; with a cumulative total of 15 drill holes and 2,524 total metres drilled. The Company plans to continue exploring the Property with diamond drilling, ground gravity geophysics, and ground radiometric prospecting in combination with geological mapping.
Split core samples were taken over 0.1 to 1.2 m core lengths covering scintillometer readings, hydrothermal alteration and ductile/brittle structures. All the drill core samples were shipped from the project site and hand-delivered to the Saskatchewan Research Council's ("SRC") Geoanalytical Laboratory in Saskatoon, SK.
Geochemical assay results were provided by SRC's Geoanalytical Laboratory, an ISO/IEC 17025:2005 (CAN-P-4E) certified laboratory in Saskatoon, SK, for multi-element analysis using the ICPMS and Boron Lab Packages. All reported values were provided from SRC as U ppm and were converted to U3O8 wt% by Appia using a conversion factor of 1.1792/10000.
All geochemical results reported herein have passed rigorous internal QAQC review and compilation. The technical content in this news release was reviewed and approved by Dr. Irvine R. Annesley, P.Geo, Advisor to the Board of Directors of Appia, and a Qualified Person as defined by National Instrument 43-101.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on delineating high-grade critical rare earth elements ("REE") and uranium on the Alces Lake property, as well as prospecting for high-grade uranium in the prolific Athabasca Basin on its Loranger, North Wollaston, and Eastside properties. The Company holds the surface rights to exploration for 61,364 hectares (151,633 acres) in Saskatchewan.
The Company also has a 100% interest in 12,545 hectares (31,000 acres), including rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario, which historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production.
Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia has 65.0 million common shares outstanding, 86.2 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 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.
For further information, please contact:
Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
James Sykes, VP Exploration & Development, (tel) 306-221-8717, (fax) 416-218-9772 or (email) email@example.com
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) firstname.lastname@example.org
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|TABLE 1: LORANGER PROJECT - WINTER 2019 DRILL HOLE U3O8 ASSAY RESULTS |
|DDH ||Target Area ||Az.* ||Dip ||EOH* (m) ||From (m) ||To (m) ||Interval (m) ||Vertical Depth (m) ||U3O8 (wt%) |
|LOR-19-01 ||2 ||320 ||-60 ||141.0 ||55.15 ||55.30 ||0.15 ||48.16 ||0.011 |
| || || || || ||59.50 ||59.75 ||0.25 ||51.84 ||0.012 |
| || || || || ||Composite Total || ||0.40 || ||0.012 |
|LOR-19-02 ||2 ||320 ||-60 ||123.0 ||87.90 ||88.55 ||0.65 ||77.15 ||0.037 |
| || || || || ||105.50 ||106.20 ||0.70 ||92.58 ||0.066 |
| || || || || ||115.50 ||115.85 ||0.35 ||101.54 ||0.023 |
| || || || || ||Composite Total || ||1.70 || ||0.046 |
|LOR-19-03 ||2 ||330 ||-60 ||159.0 ||82.45 ||82.65 ||0.20 ||71.58 ||0.014 |
| || || || || ||96.75 ||99.90 ||3.15 ||84.30 ||0.032 |
| || || || || ||102.95 ||104.05 ||1.10 ||89.30 ||0.040 |
| || || || || ||108.60 ||109.05 ||0.45 ||94.30 ||0.085 |
| || || || || ||Composite Total || ||4.90 || ||0.038 |
|LOR-19-04 ||2 ||320 ||-60 ||21.0 ||Hole abandoned in overburden, restarted as LOR-19-04A |
|LOR-19-04A ||2 ||320 ||-60 ||90.3 ||63.20 ||63.40 ||0.20 ||54.48 ||0.017 |
| || || || || ||72.70 ||73.00 ||0.30 ||62.55 ||0.010 |
| || || || || ||78.95 ||79.05 ||0.10 ||67.87 ||0.012 |
| || || || || ||80.20 ||80.30 ||0.10 ||68.97 ||0.028 |
| || || || || ||83.45 ||83.80 ||0.35 ||71.45 ||0.012 |
| || || || || ||85.45 ||85.55 ||0.10 ||73.37 ||0.017 |
| || || || || ||Composite Total || ||1.15 || ||0.014 |
|LOR-19-05 ||3 ||160 ||-60 ||58.3 ||Hole abandoned in overburden, not restarted |
|LOR-19-06 ||3 ||0 ||-90 ||140.6 ||No significant results |
|LOR-19-07 ||1 ||170 ||-60 ||15.0 ||Hole abandoned in overburden, restarted as LOR-19-07 |
|LOR-19-07A ||1 ||170 ||-60 ||131.8 ||No significant results |
|LOR-19-08 ||1 ||230 ||-45 ||183.0 ||133.25 ||133.50 ||0.25 ||91.99 ||0.011 |
| || || || || ||148.85 ||150.00 ||1.15 ||103.04 ||0.020 |
| || || || || ||Composite Total || ||1.40 || ||0.018 |
|Cut-off grade = 0.01% U3O8 || || || || || || || |
|Maximum consecutive internal dilution = 2.0 m down hole || || || |
|True widths have yet to be determined || || || || || || |
|All Uranium (ppm) results received by SRC from the ICP-MS Total Digestion lab package were converted to U3O8 (wt%) using a conversion factor of (x1.1792/10000) |
|* "Az." Refers to "drill hole azimuth" and "EOH" refers to "end of drill hole" || |
To view the source version of this press release, please visit newsfilecorp.com
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