🕐21.09.11 - 15:54 Uhr
APELLA RESOURCES INC. NEWS - IRON-T RESULTS
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APELLA CONFIRMS MINERALIZATION ALONG ENTIRE 22.5 KM STRIKE LENGTH
IRON-T VANADIUM-IRON-TITANIUM PROJECT
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Apella Resources Inc.
(TSX.V Exchange: "APA"), (U.S.A.
OTCQX Exchange: "APAFF"),
and (Frankfurt Exchange: "NWN") is pleased to announce the results of 19 diamond
drill holes (2,821 metres) of its Phase 4 exploration/development program on its
Iron-T Vanadium-Iron-Titanium Project; located 10 km southeast of Matagami, Quebec.
The Iron-T continues to deliver positive results.
Eleven of the holes completed in this phase, totaling 1,750 meters, are considered
development (infill) drill holes.
They were positioned on four transversal sections
across the main mineralized zone already outlined by previous drilling.
These new
infill holes, drilled at 50m intervals, now connect several peripheral zones of
mineralization, to Apellas main Genesis deposit on the Iron-T.
The peripheral zones
of mineralization were not included in SGSs May 19, 2011 NI-43-101 resource estimate,
since they were considered disconnected from the main zone.
Apellas 2010 drill
holes into these peripheral zones returned significant grades and intersects of
mineralization.
Three new significant mineralized zones running parallel to the main Genesis zone
have now been discovered and tested over three sections.
It is anticipated that
these new zones will provide mineralized extensions in both the easterly and westerly
directions.
These three sections plus one additional one cover the eastern extension
of the main Genesis deposit.
As a result of these three new mineralized zones, the
mineralized layers including the Genesis zone now reach a significant width approaching
200 metres.
With this infill drilling Apella has met its objective of joining these
additional zones to its main Genesis orebody and simultaneously increasing the tonnage
significantly as well as permitting it to classify some of the new resources in
the measured category.
Table 1
Hole No.
>From m
To m
Length m
V2O5 %
Fe %
Ti %
V2O5EQ %
MA-11-40
93.00
95.50
2.50
0.12
18.46
1.92
0.34
96.75
101.75
5.00
0.21
21.50
3.10
0.46
106.16
109.94
3.78
0.29
24.33
3.72
0.58
This hole is located 50m south of Apellas Hole MA-10-28 which earlier returned
the following:
91.60
95.00
3.40
0.46
34.93
5.34
0.88
112.86
127.00
14.40
0.41
31.20
4.98
0.76
148.17
160.67
12.50
0.36
25.34
3.81
0.66
MA-11-41
81.45
95.00
14.80
0.14
18.44
1.94
0.35
121.00
136.50
15.50
0.09
14.52
1.22
0.26
145.00
148.00
3.00
0.11
16.37
1.44
0.30
MA-11-42
107.50
113.75
6.25
0.20
21.93
2.59
0.46
116.25
118.75
2.50
0.17
19.77
2.22
0.40
121.25
122.50
1.50
0.48
32.02
5.95
0.87
131.25
133.88
2.63
0.65
48.64
7.28
1.20
MA-11-43
17.72
18.47
0.75
0.13
17.92
2.75
0.34
20.97
26.41
5.44
0.35
33.59
5.61
0.75
27.31
27.87
0.56
0.21
25.33
3.64
0.51
30.37
46.00
15.63
0.16
18.48
2.45
0.38
89.24
91.00
1.76
0.21
18.13
2.90
0.43
93.50
94.75
1.25
0.13
15.77
1.90
0.31
97.25
106.50
9.25
0.19
22.81
2.80
0.46
110.33
111.92
1.59
0.16
25.38
2.20
0.45
113.27
127.02
13.75
0.21
23.64
2.94
0.48
134.83
137.13
2.50
0.23
22.34
3.43
0.50
138.38
144.53
6.25
0.21
22.64
3.51
0.48
This hole was set-up 50m south of Apella hole MA-10-23 which earlier returned
the following:
47.18
92.05
44.87
0.57
44.63
8.39
1.11
105.50
109.30
4.80
0.31
24.02
3.67
0.59
MA-11-44
23.26
34.61
11.35
0.11
20.79
2.24
0.36
25.11
56.51
11.40
0.21
22.12
3.71
0.48
57.76
69.35
11.59
0.39
40.40
6.56
0.88
74.23
83.06
8.83
0.46
43.83
8.27
0.99
84.08
144.45
59.84
0.39
36.41
6.47
0.83
147.05
50.80
3.75
0.13
17.58
1.69
0.33
MA-11-45
71.46
72.46
1.00
0.14
20.06
2.53
0.38
This hole intersected a strong and thick NE trending fault zone.
MA-11.46
69.05
74.05
5.00
0.21
24.63
3.07
0.49
75.30
77.80
2.50
0.16
16.83
1.92
0.35
135.50
137.00
1.50
0.21
20.72
2.50
0.45
141.50
144.50
3.00
0.11
16.02
1.29
0.29
146.00
147.50
1.50
0.25
25.37
3.27
0.55
MA-11-47
58.71
59.80
1.19
0.29
26.37
3.52
0.60
60.78
66.26
5.48
0.23
23.27
2.93
0.51
78.36
79.61
1.25
0.13
16.93
1.61
0.33
106.00
109.91
3.91
0.17
19.46
2.22
0.40
110.81
112.00
1.19
0.11
25.57
1.22
0.40
MA-11-48
37.20
38.55
1.25
0.14
16.52
2.67
0.34
39.80
55.51
15.71
0.16
20.52
2.28
0.40
68.05
71.55
3.50
0.28
25.15
4.04
0.58
74.05
75.30
1.25
0.13
16.49
2.09
0.32
76.55
78.95
2.40
0.28
24.79
4.04
0.58
MA-11-49
30..75
33.00
2.25
0.11
15.38
2.25
0.29
39.60
41.20
1.60
0.43
36.31
6.69
0.87
44.97
56.87
13.15
0.45
42.20
7.73
0.96
89.70
103.16
13.46
0.23
23.05
3.12
0.51
108.16
110.66
2.50
0.15
18.62
2.25
0.37
124.95
140.72
15.77
0.22
23.11
3.07
0.50
141.97
144.47
2.50
0.12
16.74
2.14
0.32
145.72
150.00
4.28
0.17
19.65
2.75
0.40
MA-11-58
21.59
45.34
28.72
0.14
19.24
2.63
0.37
47.84
55.30
7.46
0.12
17.36
2.27
0.33
84.28
93.73
9.45
0.22
25.63
3.96
0.52
115.05
150.25
35.20
0.35
35.20
5.72
0.78
Note: Since the Iron-T deposit holds a non-negligible portion of Magnetite and Titanium
Dioxide.
It is consequently important to determine the dollar value per tonne of
the oxide contained in the mineralized zones as well as the cut-off grade.
This
cut-off grade is expressed as a percentage.
In order to be consistent with the previous results released since 2010, Apella
used the same metal prices for the Vanadium, Titanium and Iron as of June 14, 2010.
Those prices are as follows:
Fe = 182 US$ per metric tonne (0.182 US$/kg);
TiO2 = 90 US$ per metric tonne (0.09 US$/kg);
V2O5 = 14,000.00 US$ per metric tonne (14 US$/kg).
The recovery of the oxides is also taken in account: Fe= 65%, TiO2= 65% and V2O5
= 75%, which give the following unitary prices: Fe= 118 US$/tonne, TiO2 = 59 US$/tonne
and V2O5 = 105 US$/tonne.
Applying a factor equal to 1 to V2O5, factors of Fe and TiO2 are respectively 0.011
and 0.006.
The V2O5EQ is calculated using the following formula:
V2O5EQ = V2O5 + 0.011*Fe+0.006*TiO2 = %
The Iron-T cut-off was estimated by SGS Geostat to 0.48% V2O5EQ.
All values above this percentage are considered in the calculation of the resources.
One hole of the current Phase 4 drill holes (MA-11-57) has been set-up on the eastern
end of another mineralized zone referred to as "II Zone" which runs parallel to
the Genesis zone, about 50m north.
This hole also represents part of the current,
systematic development drilling, planned for the main Genesis zone.
It forms part
of the overall objective of increasing tonnage quickly and substantially, and bringing
the Genesis deposit to a measured and indicated status as soon as possible.
Results of this hole are as follows:
Table 2
Hole No.
>From m
To m
Length m
V2O5 %
Fe %
Ti %
V2O5EQ %
MA-11-57
10.21
18.96
8.75
0.21
24.26
3.96
0.50
21.46
61.70
38.99
0.20
22.27
3.73
0.46
68.16
84.42
16.26
0.17
19.35
3.00
0.40
86.65
116.65
28.75
0.16
18.89
3.10
0.38
Two of the four mineralized layers intersected in Hole MA-11-57 are low grade but
since this II Zone is close to Genesis, they could be considered as potential ore
if this mineralized zone is systematically drill tested.
Another of the current drill holes (MA-11-56), 150m in length, was set-up on top
of a hill coinciding with a strong magnetic anomaly interpreted as the western
extension of the Genesis Deposit.
On the slopes of this hill, several outcrops discovered
in 2010 by Apella, show disseminated oxides.
This hole is located about 1 km west
of the western most hole (MA-10-37) drilled by Apella in 2010, a hole which confirmed
the extension of the main deposit in a NWN direction, exactly as anticipated by
Apella.
Because of the steep topography and the presence of frozen ground, it has
not been possible to set- up the drill rig on the northern edge of the magnetic
anomaly.
Apella has collared the hole at about 25m south of the recommended location,
on top of the hill which coincide to the highest magnetic readings.
Results of this drill hole are as follows:
Table 3
Hole No.
>From m
To m
Length m
V2O5 %
Fe %
Ti %
V2O5EQ %
MA-11-56
5.17
35.17
30.00
0.15
22.20
3.85
0.41
86.45
102.70
16.25
0.14
21.80
2.99
0.40
This mineralization needs to be tested at depth by a new hole to be set-up at about
75 m north of MA-11-56, at the bottom of the hill.
All current drill holes bored to date have shown alternations of the gabbro with
disseminated to massive layers of magnetic oxides, which Apella finds very encouraging.
An interesting fact is the observed disseminated oxide layers are much thicker than
the semi-massive to massive layers.
This indicates that the mineralization should
provide significant thickness enhancing compatibility for open pit mining.
The drilling of the western extension of the Iron-T Project was aimed to evaluate
at depth a 5 km long magnetic axis which was confirmed by the 2010 surface magnetic
survey.
This magnetic axis is oriented NW exactly as also detected in early airborne
magnetic surveys flown between 1948 and 2007.
Although these significant magnetic
signatures were clearly visible, this magnetic axis has never been drill tested
or even mapped until now.
Six drill holes totaling 921m in length were bored for
the evaluation of the associated magnetic layers.
It is expected that these layers
may add a significant resource of Vanadium-Iron-Titanium mineralization to the overall
Iron-T Project.
Achieving additional tonnage outside the main deposit in the Genesis
Zone will also demonstrate the consistency of the mineralization at depth along
the 22.5km strike length of the Iron-T Project.
Drill holes have been set-up at
about 1000 m intervals along this extension.
Results of this exploration program are as follows:
Table 4
Hole No
>From m
To m
Length m
V2O5 %
Fe %
Ti %
V2O5EQ %
MA-11-50
Insignificant vanadium values
MA-11-51
15.00
50.19
35.19
0.31
30.36
5.97
0.68
53.84
111.13
57.29
0.45
33.62
6.15
0.85
111.13
119.62
8.49
0.17
16.23
2.68
0.37
124.05
146.38
22.33
0.29
22.77
3.28
0.56
155.36
170.64
15.28
0.30
23.00
3.15
0.57
MA-11-52
5.28
60.48
55.20
0.43
35.08
6.64
0.86
61.98
111.75
24.00
0.31
22.80
3.45
0.58
MA-11-53
28.30
71.80
43.50
0.39
32.34
6.15
0.78
74.80
132.25
57.45
0.34
24.81
3.77
0.64
MA-11-54
9.48
51.61
42.13
0.40
31.82
5.84
0.79
106.00
113.50
7.50
0.33
24.98
3.70
0.63
117.00
127.50
10.50
0.33
22.99
3.39
0.61
MA-11-55
33.00
51.00
18.00
0.27
30.42
6.07
0.64
62.00
82.00
21.50
0.40
28.37
4.79
0.74
98.50
104.50
6.00
0.49
32.46
5.45
0.87
The drilling of this western extension of the Iron-T Project has confirmed the presence
of V-Fe-Ti mineralization has delineated by the 2010 surface magnetic survey.
However,
this mineralization presents a significant difference with the main Genesis zone.
The V-Fe-Ti described as homogeneous heavily disseminated (10-15%) iron oxides mineralization.
The V2O5EQ percentage is homogeneous and surprisingly slightly higher than the zones
containing semi to massive layers.
Positive results of this exploration program warrant a systematic drilling program
at a 50m interval with a minimum of two drill holes per section.
This press release has been reviewed by Dr.
Christian Derosier, P.
Geo., Consulting
Geologist and Qualified Person for the Iron-T project under National Instrument
43-101.
Additional information is contained on the Companys website at www.apellaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
"Patrick D.
OBrien"
Patrick D.
OBrien, ICD.D - Chairman
S.E.C.
Exemption 12(g) 3-2(b) File No.
82-3822, Standard & Poors Listed, Dun & Bradstreet
Listed.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts responsibility
for the adequacy or accuracy of this release."
For more information contact:
W.
Adrian Bakker
Vice President of Corporate Communications
Apella Resources Inc.
APA-TSX-V
1600-543 Granville St.
Vancouver, BC, Canada V6C 1X8
Ph.604.683.8990
Direct.604.641.4474
Toll Free:1-800-663-8990
EM:
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Apella slideshow
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Iron-T Vanadium Deposit
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Interview With W.
Adrian Bakker
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