Apella Resources Inc.: Lac Dore Update
18.04.2012 | Marketwired
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/18/12 -- Apella Resources Inc. which trades on (TSX VENTURE: APA) (OTCQX: APAFF) (FRANKFURT: NWN) and its subsidiary Prestige Mining Corporation are pleased to announce that the exploration work initiated on its Lac Dore Iron-Titanium and Vanadium property is progressing according to the schedule.Les Consultants Aurus Inc. was retained to survey the historic grid. The delineation of the old stripping and the establishment of three permanent benchmarks have proceeded on plan. Prior to the commencement of this work, the access roads were cleared of snow to ease access. The Apella geological and prospecting team assisted the surveyor in the field and searched for the historic diamond drill hole locations. Each historic drill-hole identified, has now been accurately recorded with a GPS and the coordinates will be used to update the Company's Lac Doré database. Several of the historic drill-hole casings have been found in place; some of them were partially destroyed during a 1989 timber cutting operation.
The two casings left by SNC Lavalin Inc. during the course of their feasibility study for McKenzie Bay Resources Ltd. in 2001 have been located intact. They correspond to holes 2001-05 and 06. Those particular two holes were drilled along the NE extension of main deposit.
It has been reported that historic drill-hole 2001-05 returned two mineralized intersections which are as follows:
1) 1.13% V2O5, 9.54% TiO2 and 25.11% oxides over 6.70 m;
2) 1.21% V2O5, 9.81% TiO2 and 35.93% oxides over 29.35 m.
Note: V2O5 and TiO2, at the time of the drilling, were assayed on a concentrate obtained from a Davis Tube concentrator. Historic drill-hole 2001-06 returned several mineralized zones which have been grouped in a composite intersection. Results were as follows: 1.26% V2O5, 7.52% TiO2 and 24.34% oxides over 148m.
The above information is provided for reference purposes only. The historic results do not conform to the requirements of National Instrument 43-101 and should be relied upon for any other purposes. The Company cautions that a qualified person has not done sufficient work on the Lac Dore Deposit to confirm the above noted assays, or to classify any historical estimates and therefore historical pre NI 43-101 information should not be relied upon on as an indicator of actual resource or reserve estimates, and should not be construed only as conceptual in nature.
To date, drill sites of historic drill-holes S-21, S-22, S-23, S-24, S-31 and S-33 have been found and precisely located. Casings of holes S-25 and S-32 have been found and rehabilitated. These holes were all bored in 1979 by SOQUEM. The 1979 diamond drill records do not mention if the casings were left or removed. There was still some snow in the field which had masked the location of the historic drill-hole collars. In addition, the stripping made in 1997 by McKenzie Bay had made several drill holes difficult to identify.
This press release has been reviewed by Dr. Christian Derosier, P. Geo., Consulting Geologist and Qualified Person for the Lac Dore Project under National Instrument NI 43-101.
Additional information, as it is available, will be contained on the Company's website at www.apellaresources.com or the company can be contacted at 604-683-8990.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
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.
Contact Information
Apella Resources Inc.
Adrian Bakker
604-683-8990 or Toll Free: 1-800-663-8990
604-683-8903 (FAX)
apella@apellaresources.com
www.apellaresources.com
