By: Marilyn Scales | January 27, 2022
APPIA RARE EARTHS & URANIUM
Appia Rare Earths & Uranium (CSE: API; US-OTC: APAAF) as the name suggests is hunting rare earth elements (REEs) as well as uranium in both the Athabasca Basin of Saskatchewan and Elliot Lake in Ontario. The company recognizes not only the potential importance of uranium in a decarbonized world, but also the fact that it frequently occurs with rare earths, another source of critical metals.
Appia’s Elliot Lake uranium-REE property includes 101 claims 3 km north of Elliot Lake. The property is also only 58 km northeast of Blind River, Ontario, where Cameco operates the world’s largest commercial uranium refinery.
Spurred by the necessities of the Cold War, uranium mines in Elliot Lake produced 362 million lb. of uranium oxide from 1955 through 1996.
The resources at Appia’s Elliot Lake project were last updated in 2013 and include two zones. Both zones are largely open along strike and down dip.
The Teasdale Lake zone has 14.4 million indicated tons grading 0.055 lb. uranium oxide per ton (for 8 million lb. uranium oxide) and 3.3 lb. total REE per ton (for 47.7 million lb. total REEs). The inferred portion is 42.4 million tons at 0.47 lb. uranium oxide per ton (for 20.1 million lb. uranium oxide) and 3.14 lb. total REE per ton (for 133.2 million lb. total REE).
The Banana Lake zone contains only an inferred uranium resource of 30.3 million tonnes grading 0.91 lb. uranium oxide per ton (for 27.6 million lb. contained uranium oxide).
Last year, Appia focused most of its exploration effort on its wholly owned Alces Lake REE property north of Lake Athabasca and about 34 km east of Uranium City. Drilling returned high-grade intersections of total rare earth oxides (TREOs) and gallium. The company reported finding massive monazite outcropping at surface at the Ivan and Dylan zones.
The company also flew 944 line-km of versatile time domain electromagnetic (VTEM) surveys targeting high-grade uranium mineralization over its North Wollaston and Loranger uranium properties. These two properties are polymetallic. In the case of North Wollaston, there is potential for molybdenum and REEs as well as uranium; and at Loranger the hunt may lead to uranium, zinc, copper and molybdenum.
Appia has a third uranium asset in northern Saskatchewan, the Eastside property close to the Manitoba border. It too is polymetallic, having potential for molybdenum, copper, platinum group metals (PGMs) as well as uranium. The uranium occurrences at Eastside have geophysical features, structures and rock types similar to known high-grade uranium deposits.
In January, Appia staked an additional 27,291 contiguous hectares of a prospective claim block 50 km south of Fond du Lac, Saskatchewan. Named Otherside, the property has similar geological and geophysical signatures to the Loranger property. Part of the Otherside claims were previously owned by Appia.
Appia has a market capitalization of $47.6 million.
https://www.northernminer.com/news/...juniors-of-interest/1003838393/
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