- Appia Rare Earths & Uranium (API) is now finished with an on-site due diligence program on its Cachoeirinha Project
- The Rare Earths Ionic Clay Project is located the Brazilian state of Goias
- The Toronto mineral explorer now has 269 Samples pending assaying results in a Brazilian laboratory
- Assay results from the due diligence program are expected back mid to late May
- Appia Rare Earths & Uranium (CSE:CSI) is unchanged, trading at $0.20 at 9:30 am ET
Appia Rare Earths & Uranium (API) is now finished with an on-site due diligence program on its Cachoeirinha Project.
The Rare Earths Ionic Clay Project is located in the Tocantins Structural Province of the Brasília Fold Belt in Brazil’s Goiás State.
Due diligence included drilling several test holes along the project. The Toronto-based mineral explorer now has 269 Samples pending assaying results in a Brazilian laboratory.
Assay results from the due diligence program are expected back 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 ½ meter intervals. And assaying is now underway,” Appia President Stephen Burega said in a statement.
“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.”
The company reviewed the surface geology of many core western targets, as well as on the more grassroots, highly prospective eastern targets.
“The PCH Project is a classical, highly weathered alkaline granitic complex showing ionic clay development with elevated REE values immediately below surface and extending down to a depth of over 15 meters, and is located in close proximity to a massive ultra mafic complex currently owned by Vale,” said Burega.
The project covers 17,551 hectares and is a circular structure originating from significant depth. The company believes it hosts a series of Rare Earth Elements.
Appia Rare Earths & Uranium (CSE:CSI) is unchanged, trading at $0.20 at 9:30 am ET.
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