Appia Rare Earths & Uranium Corp. (CSE: API) has signed a Definitive Agreement to acquire up to a 70% interest in the PCH Project located in the Tocantins Structural Province of the Brasília Fold Belt, Goiás State, Brazil.
“Appia has taken a significant step in cementing itself among the upper tier of critical mineral explorers with today’s announcement,” stated Stephen Burega, President.
“Brazil is emerging as a significant source of rare earths contained in ionic clays, and Appia’s PCH project will further enhance this potential. The known rare earth element distribution at PCH should lead to favourable economics for processing; is easily on par with other ionic clay projects outside of Asia; and it contains relatively high levels of the magnetic REEs.
“Early-stage review of the rare element distribution indicates a high potential ‘basket price’ which is a positive indicator to advance the project. Once additional analysis is completed, a more detailed summary of known results will be shared with the market.”
Pursuant to the terms of the Definitive Agreement, the Property will be held by the company, Appia will hold a 70% interest in the company, subject to completing the option obligations referred to below, and Antonio will hold a 30% interest in the company.
Appia will acquire incremental vested interests in the company upon completion of specific expenditure requirements.
Once Appia has earned its 70% interest in the company, Appia and Antonio will enter into a joint venture with respect to the further exploration and development of the property.
Background on the PCH Project
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 17,551.07ha. 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 REEs and Niobium within lateritic ionic adsorption clays.
For further information please visit: https://www.appiareu.com/
