Appia Rare Earths and Uranium Corp. (Stock Symbols – CSE: API, OTC: APAAF, FWB: A0I) acquires, explores for, develops, and evaluates mineral properties in Canada.
The company primarily explores for uranium and REE (rare earth elements) deposits.
The company owns 100% interests in the prolific Athabasca Basin covering an area of 63,980 hectares in Saskatchewan.
The company’s Elliot Lake property comprises 101 staked mining claims located in northern Ontario. Historically, over 300 million pounds of uranium were produced in this region, which is also known for commercial rare earth production.
In 2020 Appia Energy Corp. published a mineral resource estimate on their fact sheet which includes both uranium and rare earths for this project.
The fact sheet notes a total indicated uranium resource of 8 million pounds and an indicated resource of 47.7 million pounds of rare earths between the Teasdale Lake and Banana Lake Zones.
The project zones also demonstrate a rare earth elements (REE) inferred resource of 133.2 million pounds and inferred uranium resource of just under 48 million pounds. Appia Energy notes more detail in their chart below.
The 100% owned Alces Lake Property covers an area of 14,000 hectares and is also located in northern Saskatchewan.
Appia Rare Earths and Uranium notes that the Alces Lake project demonstrates some of the highest rare earth elements grades found across the globe. The average grades range from 9.39% to 31.8% total rare earths weight per ton. This places the project as the 2nd highest average grade REE project.
Why might this project be important? Global demand for rare earths is growing over 10% per year, and the dominant producer is the country of China. Appia Rare Earths and Uranium demonstrates placement of their Alces Lake property in their chart below.
The Richard zone for this project drilled 7.5 meters of core at 8.73% weight per ton rare earths and was discovered just 10 meters below surface.During 2019, the company made 8 surface discoveries for REE’s, making the Alces Lake project an exciting rare earth exploration project.
The company notes that they have access to an existing rare earth elements separation pilot plant and rare earth oxide extraction lab in nearby Saskatoon.
The company was founded in 2007 and is based out of Toronto, Canada.
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