Toronto, Ontario--(Newsfile Corp. - August 22, 2017) - Appia Energy Corp. (CSE: API) (OTC: APAAF) (FSE: A0I) (MU: A0I) (BE: A0I) (the "Company or "Appia") is pleased to announce the start of a ground prospecting and radiometric surveying program (the "Program") on the high-grade rare earth element ("REE") plus uranium Alces Lake property (the "Property"), located 29 km north of the Athabasca Basin, Northern Saskatchewan.
The objective of the Program is to follow-up anomalous radioactive areas that were identified in a helicopter-borne VTEMTM Plus survey flown last year (see the Company's news release dated July 19, 2016). The anomalous radioactive areas to be visited are similar to those observed at the Alces Lake and Ivan zones which are host to high-grade REE outcrops and boulders ranging from 1.1% to 35.7% total REEs by weight, producing an average of 9.7% total REEs by weight (see the Company's news release dated May 22, 2014). The REE outcrops and boulders exhibit uranium plus thorium radioactivity levels in excess of 10,000 cps measured with an RS-230 hand-held spectrometer.
The field work will be supervised by James Sykes, the Company's Vice President of Exploration and Development. The Program is expected to take 2 weeks, and final results will be reported as received and analyzed by the Company.
Appia is a Canadian publicly-traded company in the uranium and rare earth element sectors. The Company is currently focusing on discovering high-grade uranium in the prolific Athabasca Basin on its recently acquired properties, Loranger, Otherside and Eastside, as well as delineating high-grade REEs and uranium on its Alces Lake joint venture. The company holds the surface rights to exploration for about 63,504 hectares (156,922 acres) in Saskatchewan.
Appia's technical team is directed by James Sykes, who has had direct and indirect involvement with over 450 M lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Appia currently has 52.3 million common shares outstanding, 65.3 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 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, Director of Saskatchewan Operations, (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
Source: Newsfile Corp.