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Appia Eyes Resource Calculation After ‘Exciting’ Drill Results at Rare Earths Project in Brazil

Appia Rare Earths and Uranium (CSE:API,OTCQX:APAAF) reported ‘remarkable” drill results from the reverse circulation (RC) drilling campaign recently completed at its PCH ionic clay project in Goiás state, Brazil. CEO Tom Drivas said they plan to proceed with the resource calculation and a pre-feasibility study next year.

“We were very excited to see that all the 17 holes are mineralized, in most cases, from top to bottom. We knew that this mineralized zone had a 7 to 8 meters depth. Now, with our drilling, we extended the average depth to about 13 meters which means we doubled the size,” Drivas explained.

“We knew there were about 1,200 parts per million rare earths in those 7 to 8 meters. The average grade that we got from the 17 drill holes is over that, which is 1,566 parts per million rare earths.”

The exciting results, according to Drivas, included magnet rare earths, such as niobium, praseodymium, dysprosium and terbium, which are used in manufacturing permanent magnets for electric vehicles, wind turbines and other tech applications.

“In the next few weeks, we’re getting the results for the balance of 147 RC holes, 70 auger holes and one drill hole — the diamond drill hole that we did, which is down to 243 meters. Once we get all these, we’re planning to do the first National Instrument 43-101 mineral resource (estimate), a resource calculation.”

Watch the full interview with Appia Rare Earths and Uranium CEO and Director Tom Drivas above.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Appia Rare Earths and Uranium and seek advice from a qualified investment advisor.

This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.

This post appeared first on investingnews.com
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