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Appia Rare Earths Signs Letter Agreement to Acquire up to a 70% Interest in a Prospective Brazilian Rare Earths Ionic Clay Project
Toronto, Ontario--(Newsfile Corp. - March 7, 2023) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE:
About this update from Appia Rare Earths & Uranium Corp
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 7, 2023) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQX: APAAF) (FSE: A0I0) (FSE: A0I0.F) (FSE: A0I0.MU) (FSE: A0I0.BE) (the \"Company\" or \"Appia\") is pleased to announce that the Company has signed a Letter Agreement (the \"Letter Agreement\") with 3S LTDA (\"3S\") and Beko Invest Ltd. (\"Beko\") to acquire up to a 70% interest in the PCH Project (the \"Transaction\") located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil (the \"Target Property\"). The Cachoeirinha Project (PCH Project) is located within the Tocantins Structural Province in the Brasília Fold Belt, more specifically, the Arenópolis Magmatic Arc. The PCH Project is 17,551.07 ha. in size and located within the Goiás State of Brazil. It is classified as an alkaline intrusive rock occurrence with highly anomalous REE and niobium mineralization. This mineralization is related to alkaline lithologies of the Fazenda Buriti Plutonic Complex and the hydrothermal and surface alteration products of this complex by supergene enrichment in a tropical climate. The positive results of the recent geochemical exploration work carried out to date indicates the potential for REE and Niobium within lateritic ionic adsorption clays. Highlights: Appia is very excited to have entered into the Letter Agreement to secure this high potential property in Brazil. Our target is Heavy REEs in ionic clays and if Appia is successful in identifying such a target, it would make Appia one of the few known critical REE companies in the world to have both light and heavy REE assets. A number of professional consultants with direct ionic clay expertise have been contacted to bring together a project team suited for this specialized project. Appia will take the next 90 days to complete its due diligence on the properties prior to finalizing this option agreement. \"Ionic adsorption clays are the main source of the critical rare earth permanent magnet metals, dysprosium and terbium,\" stated Stephen Burega, President of Appia. \"Today China controls essentially all of the production of these metals, originally due to the exploitation of its own domestic extensive fields of ionic adsorption clays and now through the control of the same types of formations in Myanmar. The production an...