Toronto, Ontario–(Newsfile Corp. – February 11, 2021) – Appia Energy Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I.F) (FSE: A0I.MU) (FSE: A0I.BE) (the “Company” or “Appia”) today announced that James Sykes will be resigning as Vice-President, Exploration & Development of the Company, effective May 31, 2021.
The Company also announced that Nicolas Guest has been appointed as Project Manager of the Alces Lake, SK Project to actively advance the project on all aspects of an expanding resource and metallurgical testing of the mineralization to determine the eventual recovery and separation processes for REE oxide (“REO”) recoveries. Mr. Guest has been granted 200,000 options exercisable at $0.68 per share for 5 years.
Nicolas has had extensive experience and responsibility for the exploration and development of the resources at the Goldcorp/Newmont-Musselwhite Mine, including mine expansion and record annual reserve replacement.
An aggressive program of ground geophysics and surveys followed by a stepped-up diamond drilling program to explore for additional sub-surface high-grade REO occurrences at Alces Lake is in the planning stage for this summer. James will continue to fulfill his obligations as Vice-President, Exploration & Development including providing support and information to Nicolas until May 31, 2021 and will continue to provide consulting services to the Company on an as-needed basis.
James has been with Appia since April 2016, directing the technical team on exploration projects in the Athabasca Basin area of Saskatchewan, in recent years 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. James has had direct and indirect involvement with over 550 million lbs. U3O8 being discovered in five deposits in the Athabasca Basin.
Tom Drivas, CEO of Appia stated that, “James has been instrumental in bringing the Alces Lake project to the stage where it is recognized as having the second highest-grade total and critical REE mineralization in the world. On behalf of the Board of Directors, I would like to thank James for his contribution to the development of the exploration programs in Saskatchewan and wish him well in his future endeavours.”
Appia is a Canadian publicly-listed 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 65,601 hectares (162,104 acres) in Saskatchewan.
The Company also has a 100% interest (subject to a 1% Uranium Production Payment Royalty and a 1% Net Smelter Return Royalty on any precious or base metals payable, provided that the price of uranium is greater than US$130 per pound) in 12,545 hectares (31,000 acres), with rare earth element and uranium deposits over five mineralized zones in the Elliot Lake Camp, Ontario. The Camp historically produced over 300 million pounds of U3O8 and is the only Canadian camp that has had significant rare earth element (yttrium) production. The deposits are largely unconstrained along strike and down dip.
Appia has 92.2 million common shares outstanding, 108.4 million shares fully diluted.
For more information, visit Appia’s website at www.appiaenergy.ca
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 further information, please contact:
Tom Drivas, President, CEO and Director: (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]
Frank van de Water, Chief Financial Officer and Director, (tel) 416-546-2707, (fax) 416-218-9772 or (email) [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74242