- The global rare earth elements market is expected to grow from 167.99 million tons in 2023, and to 206.25 million tons by 2028 – growing at a CAGR of 4.19%
- Since starting the project, Appia has commenced diamond drilling in addition to its current reverse circulation and auger drilling campaigns
- Specimens from the drilling efforts will be submitted to SGS Geosol laboratory, with assays expected two months from submission
The global rare earth elements (“REE”) market is expected to grow from 167.99 million tons in 2023 to 206.25 million tons by 2028 – growing at a CAGR of 4.19%. The driving factors for the increase in REE production come from a global demand from emerging economies for “green technology” (https://ibn.fm/UuCTZ). With the high growth and demand, several companies are pursuing the REE industry, including Appia Rare Earths & Uranium (CSE: API) (OTCQX: APAAF), a mineral exploration company focused on exploration activities in Brazil and Canada. The company is funded no debt, and has an aggressive exploration program underway.
Appia’s newly acquired Cachoeirinha rare earths project (PCH Project) in Brazil represents important potential for the company. The PCH Project hosts REE mineralization in both ionic clays developed from the weathering of alkaline granites and in-situ rare earth mineralization associated with the area’s underlying granite and a carbonatite intrusion to depths greater than 100 meters. In July 2023, the company commenced an aggressive auger and reverse circulation drill campaign to delineate a potential resource estimate at the PCH Project.
The initial results from the PCH Project drill campaign revealed significant exploration potential and an impressive value that surpasses known ionic clay deposits in Brazil. Terbium and Dysprosium were among the highly valuable heavy rare earths the company uncovered.
In a press release following the July 2023 exploration, Appia CEO Tom Drivas said the company was thrilled with the progress made and the promising results thus far. “The company remains committed to advancing its exploration plans, aiming to promptly gather significant data throughout the year, and to work towards estimating a maiden mineral resource in the coming months,” Drivas added (https://ibn.fm/jYzRX).
Since then, Appia has deployed a third drill hole on-site at the PCH Project to investigate a significant geophysical anomaly at a depth below Target IV. The program was designed to expand on the diamond drilling that was completed in prior seasons. This additional drill hole brings Appia’s exploration of the PCH Project to include three drills – one auger, reverse circulation, and a diamond drill.
“The arrival of the diamond drill marks a pivotal advancement in our exploration initiative,” Appia President Stephen Burega said (https://ibn.fm/CZhSg). “It underscores our commitment to investigating not only the potential genesis of Ionic Adsorption Clay but also the exciting opportunity for REE mineralization in hard rock formations.”
The company’s primary objective is to accurately delineate the extent of mineralization and assess its economic significance. To achieve these efforts, Appia is employing a rigorous sampling procedure – including one-meter samples that will be carefully collected and shipped to SGS Geosol laboratory. Assays from the project are expected within two months from the submission of the specimens.
For more information, visit the company’s website at www.AppiaREU.com.
NOTE TO INVESTORS: The latest news and updates relating to APAAF are available in the company’s newsroom at https://ibn.fm/APAAF