News 2010 Apella Resources Receives Positive Results From Phase 3 Drilling Program On Iron-T Vanadium-Iron-Titanium Project
Apella Resources Receives Positive Results From Phase 3 Drilling Program On Iron-T Vanadium-Iron-Titanium Project
Vancouver, BC – Monday, June 21, 2010Apella Resources Inc. (TSX.V: APA); (OTC: APAFF) (Frankfurt Symbol: NWN) and its Board of Directors are pleased to announce that the Company has completed its third phase of drilling on its Iron-T Vanadium-Iron-Titanium project near Matagami, Quebec. Fifteen holes were drilled on the east and west extensions of the known deposit and on several high magnetic anomalies running parallel to the main zone. Core from these drill holes confirms the presence of highly significant disseminated, semi massive and massive vanadiferous mineralization and will contribute to increasing the size of the mineral resource. In addition, two holes from the Company’s second drilling program were extended to determine the depth of mineralization. The drilling program totaled 2349 metres (7,706 ft). Core is being split and sent for assay to ALS-Chemex laboratory in Val d’Or, Quebec in accordance with Apella’s Quality Control/Quality Assurance program.
During the drilling program SGS Geostat visited the project for the preparation of the initial resource calculation based on the data received to date from the first two phases of diamond drilling (See Company’s News Release of May 6, 2010).
The Company has received results from the first two drill holes and highlights from these holes include intersections of:
► 20.85 metres ( 68.40 ft ) of 0.55% Vanadium Pentoxide (V2O5), 45.69% Iron Oxide (Fe2O3) and 6.85% Titanium Dioxide (TiO2)
► 8.06 metres ( 26.44 ft ) of 0.60% Vanadium Pentoxide, 41.56% Iron Oxide and 7.18% Titanium Dioxide
► 14.88 metres ( 48.82 ft ) of 0.61% Vanadium Pentoxide, 43.82% Iron Oxide and 7.76% Titanium Dioxide
Detailed results are as follows:
Hole MA-10-20
Hole MA-10-20, originally drilled during the second drilling program, intersected three mineralized layers between 19 metres (62.3 ft) and 114 metres (374 ft). This hole has now been extended to 231 metres (757.8 ft) and two additional layers were discovered. Results from the initial drill hole and the follow-up extension confirm the existence of vanadiferous mineralization to a depth of 216 metres (708.6 ft) as follows:
|
|
From |
To |
Length |
V2O5 |
Fe2O3 |
TiO2 |
Comments |
|
Initial Results |
19.81 m |
47.22 m |
27.41 m 89.93 ft |
0.50% |
35.81% |
6.46% |
Including 15.60 m at 0.72% V2O5, 48.09% Fe2O3, and 9.26% TiO2 |
|
47.22 m |
89.34 m |
62.12 m 203.80 ft |
Low grade intersection |
|
|||
|
102.45 m |
114.00 m |
11.55 m 37.89 ft |
0.18% |
17.31 % |
2.25% |
|
|
|
New Extension |
135.50 m |
156.35 m |
20.85 m 68.40 ft |
0.55% |
45.69% |
6.85% |
|
|
208.65 m |
216.71 m |
8.06 m 26.44 ft |
0.60% |
41.56% |
7.18% |
|
|
These compelling results prompted the field geologist to collar hole MA-10-25 at 60 metres (196.8 ft) south of MA-10-20, on the same section.
Hole MA-10-25
Hole MA-10-25 was drilled to a depth of 180 metres (590 ft) and intersected multiple semi-massive oxide layers. Highlights from this hole include the following:
|
From |
To |
Length |
V2O5 |
Fe2O3 |
TiO2 |
|
71.59 m |
74.88 m |
3.29 m 10.79 ft |
0.44% |
36.18% |
4.85% |
|
96.53 m |
104.90 m |
8.37 m 27.46 ft |
0.52% |
42.42% |
6.27% |
|
154.20 m |
169.08 m |
14.88 m 48.82 ft |
0.61% |
43.82% |
7.76% |
During the drilling program four new mineralized outcrops were discovered approximately 1/3 of a kilometre north of the Company’s previous exploration on the project. One of the discoveries coincides with a low magnetic anomaly, is exposed over an area of 7 metres (23 ft) by 1 metre (3.3 ft) and appears open in all directions. The showing exposes nine layers of semi-massive to massive magnetite (30 - 75%). Three grab samples were randomly taken from this new outcropping and assays have delivered the following significant and encouraging results:
|
|
V2O5 |
Fe2O3 |
TiO2 |
|
Grab No 1 |
0.64% |
46.48% |
8.14% |
|
Grab No 2 |
1.036% |
65.91% |
12.55% |
|
Grab No 3 |
0.77% |
52.02% |
9.91% |
These new outcrops will be mapped and sampled during a stripping program which is planned to begin around June 20, 2010.
Results from the other drill holes conducted during the third phase of drilling are forthcoming and will be released upon receipt by the Company.
This press release has been reviewed by Dr. Christian Derosier, P. Eng., Consulting Geologist and Qualified Person for the Iron-T Project under National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
“Patrick D. O’Brien
Patrick D. O’Brien, ICD.D – Chairman
SEC Exemption 12(g)3-2(b) File no. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed
NEITHER 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.
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Tel: (514) 939-3989 or (416) 644-2020
