Posted in | Uranium | Mining Business

Appia Announces Acquisition of High-Grade Uranium Prospective Property in Athabasca Basin Area

Appia Energy Corp. is pleased to announce 100 % acquisition of a group of contiguous mineral claims by staking in northern Saskatchewan. The new property, named the Eastside property, is located 50 km east of the Company's Loranger property and 85 km east of Cameco's Rabbit Lake mill and the eastern edge of the Athabasca Basin.

The Property encompasses 4,736 hectares (11,702 acres), (see Figure 1).

Historic airborne and ground exploration was conducted on the property and surrounding area between 1968 and 1980. A 1975 airborne survey identified a 4-km wide radiometric anomaly on the Property. Follow-up ground prospecting programs located outcrops and boulders containing elevated concentrations of uranium within and peripheral to the radiometric anomaly. A total of 161 outcrop and boulder samples returned a range of 2 to 7,575 ppm uranium, producing an average grade of 360 ppm uranium. Twelve samples contained greater than 1,000 ppm uranium. Three outcrop samples along a 1.7 km geological strike returned 2,538 ppm, 6,650 ppm and 7,575 ppm uranium. Five boulders of similar lithological provenance to the outcrops, and located down-ice from the outcrops, returned greater than 1,000 ppm uranium (see Figure 2).

Mr. James Sykes, VP exploration and development for Appia comments; "The recent acquisition of the Eastside property is another positive step-forward for Appia. The Property complies with the Company's objective of exploring for near-surface high-grade uranium deposits in the Athabasca Basin area. We are encouraged by the number of boulders and outcrops exhibiting high concentrations of uranium in the area. Many uranium orebodies have been discovered by tracing radioactive boulders back up to their source. The potential for a major discovery on the Property exists when one considers the length of a similar system that exists on the Loranger property (i.e. the RCV uranium mineralized trend extends for 2.2 km along strike and is open in both directions (see Appia news Release, May 24, 2017) but incorporating the higher uranium grades previously identified in boulders and outcrop on the Eastside property)."

Appia plans to fly a detailed airborne radiometric and magnetic survey over the Eastside property. Follow-up ground prospecting will prioritize exploration on trend with high-uranium content outcrops and continue to explore the up-ice directions of uraniferous boulders in the search for other surface uranium showings.

The Company also announces the start of a two-week field program on the Loranger property following-up historic airborne radiometric survey results and assessing terrain conditions for drill site accessibility.

The uranium values reported herein are historic laboratory assay results prior to NI 43-101 disclosure standards and may or may not be viewed as reliable. The references to uranium occurrences were retrieved from the following Saskatchewan assessment reports; i) Harrigan, D.A. (1978): Final Report - 1977 Field Season, Wollaston East Project, Saskatchewan Mining Development Corporation, Saskatchewan Mineral Assessment File 64L-0012, and ii) Murphy, W.L. (1979): 1978 Summer Field Season Summary, Wollaston East Project, Saskatchewan Mining Development Corporation, Saskatchewan Mineral Assessment File 64L-0013.


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