2023-04-26
Appia Rare Earths & Uranium Corp said it has completed its due diligence program at the Cachoeirinha (PCH) rare earths ionic clay project in Goiás State, Brazil with a total of 269 samples collected, which are now being processed.
The company in March announced it had signed a letter of intent to acquire up to a 70% interest in the PCH project, pending the completion of on-site due diligence.
The company said it expects to receive the assay results from the due diligence program by mid to late May.
“As part of the due diligence process, we drilled 15 auger holes twinning a representative mix of trenches, drill and auger holes across the western portion of the property which were sampled at half-meter intervals, and assaying is now underway,” said Appia president Stephen Burega.
“In addition, there were two diamond drill holes originally completed by the vendor’s team but not previously assayed. The entire lengths of the two diamond drill holes were sampled and included as part of the total sample package delivered for assaying.”
Burega noted that, as previously reported, the regional mineralogy of the project has very similar lithologies to the Serra Verde project, demonstrating the classic model of ionic clay structures. This type of ionic-clay rare earth elements deposit is rare outside of China, he added.
“Based on assays obtained from the vendor, grades appear to be similar to those reported at Serra Verde project,” Burega said in a statement.
Appia is a Canadian company operating in the rare earth element and uranium sectors. It is focused on delineating high-grade critical rare earth elements and gallium on the Alces Lake property, as well as exploring for high-grade uranium in the prolific Athabasca Basin on its Otherside, Loranger, North Wollaston, and Eastside properties.
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