• Appia Energy (API) has located seven new mineral occurrences at its Alces Lake project in Saskatchewan  
  • The company found five new zones outside of the main exploration zone, all showing rare earth minerals occurrences 
  • Appia also managed to locate a new zone on the property, which had been revealed in historic data but had remained hidden until now
  • Three separate uranium deposits have also been recently discovered at the site
  • Appia Energy (API) is up 4.3 per cent snd is trading at $0.24 per share 

Appia Energy (API) has located at least seven near surface rare earth and uranium deposits at its Alces Lake project in Saskatchewan. 

The results came from the company’s Phase One field program on the property, which located the host rocks of a large rare earth element deposit.

The elements are hosted with five new exploration areas, outside of the main zone, which has been focusing its work on over the past couple of years.

The new exploration areas where mineralisation was encountered are the Ermacre, Mason, Sean, Ken and Scott zones.

During the work the company also found another exploration zone, named the Oldman zone. There were references to this zone in some previous work on the property, but Appia had been unable to determine exactly where it was located on the property 

While exploring the last zone it discovered, the Hawker zone, the company also came across  three separate uranium veins.

James Sykes, the Vice President of Exploration for Appia Energy said the company was continuing to discover more and more of the rare earth element mineral system along the surface of the property.

“This suggests we’re looking at a very large system across the property and also at depth. Our goal is to continue mapping and understanding this system, and these new occurrences give us more information for deposit targeting.

“We remain confident that additional surface and sub-surface exploration will produce us with many new discoveries,” he said. 

Appia Energy (API) is up 4.3 per cent and is trading at C$0.24 per share at 2:00 pm EDT. 

More From The Market Online

Three undervalued mining stocks trading at all-time-lows

Value investors new to mining stocks might be surprised to know that high-potential opportunities might appear as if they're worth avoiding.
Star Diamond - Notable stones from the Star Orion South diamond project.

Star Diamond appoints permanent CEO

Star Diamond (TSX:DIAM) has named Ewan Mason as president and chief executive officer, after serving on an interim basis since January 2023.
Brian Mulroney and wife, Mila Mulroney

Former PM Brian Mulroney remembered for impact on Canadian business

Brian Mulroney, Canada's 18th prime minister who passed away at 84 on Thursday, is being remembered for his impact on Canadian business.

Q2 Metals stock soars on Cisco Lithium Property acquisition

Q2 Metals shares received a boost after announcing it will be acquiring a 100 per cent interest in the Cisco Lithium Property.