Apella Resources Inc. (TSX
VENTURE:APA)(OTCQX:APAFF)(FRANKFURT:NWN), is pleased to report the
acquisition of a strategic new Canadian Vanadium-Iron-Titanium
discovery situated near Timmins, Ontario. Apella's geology team
have assessed the merits of the mineralization and setting of the
Game Changer Project for its potential to mirror the already
established merits of Apella's 100% owned Lac Dore, Lac Dore North
and Iron-T deposits. Upon conclusion of the assessment, Dr.
Derosier, P.Geo delivered his favourable conclusions to management
and recommended the acquisition.
Apella's new Game-Changer Vanadium-Iron-Titanium Project was
discovered by the prospecting team of R. Laviolette and G. Dumoulin
while prospecting the Timmins region in May of 2011. The Game
Changer is an assemblage of mineral claims which provide two
distinct mineralized zones, each presenting excellent potential to
host economic Vanadium-Iron-Titanium deposits. The two zones will
be designated as the West Structure and East Structure for future
reference.
The West Structure covers a 2 km long E-W oriented gabbro sill,
which can be clearly delineated by the most recent airborne
magnetic and electromagnetic survey carried out by the Ontario
Geological Survey. The gabbro sill produces a very strong magnetic
anomaly which is 300-400 m wide. In the field, the gabbro sill
appears as a succession of elongated rounded hills with numerous
outcrops of mineralization.
The Eastern Structure covers a NW-SE oriented magnetic anomaly
which also corresponds to a 3 km long gabbro sill which is very
similar to the sill of the Western Structure. Both are thought to
be originating from the same magmatic event and they are now
separated by one or several tectonic events.
The mineralization observed on-site during Dr. Derosier's due
diligence procedure and subsequent study is very similar to the
newly discovered Northwestern Zone situated on Apella's Iron-T
Vanadium-Iron-Titanium Project just across the Quebec-Ontario
border. Apella's Iron-T Project is part of the Bell River Complex
which a large, layered intrusion of Archean age in Quebec's
well-established Matagami mining camp. The Bell River Complex has
been divided into three main zones: 1) the Basal Anorthosite Zone,
2) a layered Gabbro Zone, and 3) a zone consisting of apophyse and
subsidiary intrusions (Granophyre/ Border Zone). On the Game
Changer Project the basal anorthosite as well as the Border Zone
have not yet been observed but could well exist.
The layered gabbro zone was observed and sampled during the due
diligence carried out. This zone consisted of layers of
disseminated to semi massive Fe-Ti V oxide rich gabbro and
leucogabbro; as well as minor anorthosite and pyroxenite altered in
amphibolite. Vanadium mineralization of the Egan Complex occurs
within the Fe-Ti oxide rich horizons in the layered ferrogabbro
zone of the upper part of the Complex. This horizon is well defined
in the aeromagnetic survey maps by its high magnetic
susceptibility.
Twelve grab samples were taken at different locations along the
gabbro sill, by the prospector. Dr. C. Derosier, P.Geo and Apella's
project QP took a further five grab samples. Two of Dr. Derosier's
samples were taken on the same occurrences as the prospector's
first samples, and three were taken at different locations. Results
of the grab samples are listed as follows:
Prospector Grab Samples
---------------------------------------------------------------------------
Sample Number Fe2O3 % TiO2 V2O5 V2O5Eq
---------------------------------------------------------------------------
RL-01 28.22 % 3.91 % 0.34 % 0.56 %
---------------------------------------------------------------------------
RL-02 38.11 % 6.45 % 0.51 % 0.81 %
---------------------------------------------------------------------------
RL-03 20.09 % 2.26 % 0.18 % 0.33 %
---------------------------------------------------------------------------
RL-06 21.74 % 2.53 % 0.29 % 0.46 %
---------------------------------------------------------------------------
RL-07 30.93 % 4.73 % 0.49 % 0.51 %
---------------------------------------------------------------------------
RL-09 23.69 % 2.96 % 0.25 % 0.44 %
---------------------------------------------------------------------------
RL-10 49.79 % 8.68 % 0.76 % 1.15 %
---------------------------------------------------------------------------
RL-11 41.02 % 6.33 % 0.05 % 0.37 %
---------------------------------------------------------------------------
RL-12 22.74 % 2.80 % 0.03 % 0.21 %
---------------------------------------------------------------------------
RL-13 38.86 % 6.17 % 0.02 % 0.32 %
---------------------------------------------------------------------------
RL-14 21.55 % 2.38 % 0.02 % 0.19 %
---------------------------------------------------------------------------
RL-15 22.79 % 2.45 % 0.02 % 0.20 %
---------------------------------------------------------------------------
Samples above, taken from Apella's new Game Changer Project were
assayed by the XRF method at Activation Laboratories Ltd., located
in Timmins, Ontario.
Dr. C. Derosier, P.Geo, QP Due Diligence Samples
---------------------------------------------------------------------------
Sample Number Fe2O3% TiO2% V2O5% V2O5Eq %
---------------------------------------------------------------------------
171290 TBA TBA 0.27 % 0.48 %
---------------------------------------------------------------------------
171291 TBA TBA 0.39 % 0.70 %
---------------------------------------------------------------------------
171292 TBA TBA 0.20 % 0.36 %
---------------------------------------------------------------------------
171293 TBA TBA 0.30 % 0.54 %
---------------------------------------------------------------------------
171294 TBA TBA 0.15 % 0.27 %
---------------------------------------------------------------------------
Results for the other oxides ("TBA") have not been yet received
and will be factored in at a later date, once available. Apella's
samples are assayed by ALS-Chemex Ltd. in North Vancouver using the
XRF method and ICP method for the other elements.
Apella's Iron-T deposit and this new Egan Complex discovery
similarly hold a non-negligible portion of Magnetite and Titanium
di-oxides. 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.
Note: In order to be consistent with the previous results
released since 2010 for its Iron-T Project, 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$/kg);
-- V2O5 = 14,000 US$ 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 + 0.011xFe+0.006xTiO2 = %
The Iron-T cut-off was estimated by SGS Geostat to 0.48% V2O5Eq
which corresponds to a mining and milling cost totaling US$ 50.00.
Consequently, all values above 0.48% V2O5Eq are considered as
economic intersections or values.
Although the results are not complete, we already can see that
the two grab samplings return almost the same V2O5 values,
especially where twin samples were taken. Assays look very similar
to those obtained by Apella on its 100% owned Iron-T Project during
the last drilling program and more particularly on its newly
discovered NW-SE Zone.
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.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
Patrick D. O'Brien, 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."
Contacts: Apella Resources Inc. W. Adrian Bakker Vice President
of Corporate Communications 604-683-8990 or Toll Free:
1-800-663-8990 604-683-8903
(FAX)apella@apellaresources.comwww.apellaresources.com
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