🕐06.12.10 - 16:54 Uhr
APELLA COMMISSIONS UPDATED NI 43-101 COMPLIANT TECHNICAL REPORT
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APELLA COMMISSIONS UPDATED NI 43-101 COMPLIANT TECHNICAL REPORT TO INCLUDE A REVISED
RESOURCE ESTIMATE and
RELEASES ADDITIONAL ASSAY RESULTS
FOR ITS IRON-T VANADIUM-IRON-TITANIUM PROJECT
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Vancouver, BC - Monday December 6th, 2010
Apella Resources Inc.
(TSX.V: APA), (U.S.A.
OTCQX: APAFF), and (Frankfurt Symbol:
NWN) is pleased to announce that the Company has commissioned SGS-Geostat to prepare
an updated NI 43-101-compliant technical report which will include and new resource
estimation for the Companys Iron-T Vanadium-Iron-Titanium Project, at Matagami,
Quebec.
In addition the Company is pleased to report assay results related to earlier
drill holes MA-10-11 and MA-10-20 which were extended and two new holes MA10-25
and MA-10-31.
The earlier NI-43-101-compliant report and resource calculation of 11.6 million
tonnes presented to Apella by SGS-Geostat in August 2010 of 11.6 million did not
include:
* assay results from 15 additional drill holes
* assay results from 2 extended drill holes
* assay results from 85 channel samples taken from newly discovered zones
This updated NI 43-101-compliant technical report and resource estimate now commissioned
will include the assay results obtained from the most recent 15 holes drilled since
May 2010 and the 2 drill-hole extensions carried out on two holes from the earlier
2009-2010 drill programs.
These new holes, coupled with the drill-hole extensions
will add a total of 2,222 m (7,290 feet) of drill results to the new resource calculation.
The 85 channel samples were derived in summer 2010 from the 3 newly discovered outcropping
areas identified at the time of Apellas last diamond drilling.
Apellas Chairman, Patrick D.
OBrien, ICD.D comments: "These latest results will
have a significant impact in our overall resource figures as we move the Iron-T
forward.
Coupled with the fact that ground geophysics have now just been completed
over the entire western portion of the project we anticipate that all of the ground
to the west of our previous drilling will amount to one very large drill target.
We look forward to beginning the proposed 20,000 metres of definition drilling
which will provide excellent potential to increase and upgrade the resource calculations
for the Iron-T.
The encouraging current and future expectations and predictions
for the iron and vanadium markets are certainly compelling reasons to place the
Iron-T project into high-gear."
About SGS-Geostat
SGS is the global leader and innovator in the specialties of inspection, verification,
testing and certification services.
Founded in 1878, SGS is recognized as the global
benchmark in quality and integrity in business.
SGS has decades of experience providing
bankable analytical and metallurgical testing and consulting for a wide array of
commodities globally.
They can prepare, ship, and analyze essentially any matrix
to assist in the discovery and definition of any ore deposit.
With more than 59,000
employees, SGS operates a network of over 1,000 offices and laboratories around
the world.
The New Results For The Extensions Of Drill Holes MA-10-11 and MA-10-20 Are As Follows:
MA-10-11 - EXTENDED HOLE RESULTS
FROM (m / ft)
TO (m / ft)
LENGTH (m / ft)
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq
150.49 / 493.73
188.44 / 618.24
37.95 / 124.51
27.85
6.69
0.42
0.76
193.32 / 634.25
293.21 / 961.98
99.89 / 327.72
33.07
7.79
0.41
0.82
MA-10-20 - EXTENDED HOLE RESULTS
FROM (m/ft)
TO (m/ft)
LENGTH (m/ft)
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq
119.50 / 392.06
231.00 / 757.87
111.5 / 365.81
19.53
3.98
0.33
0.57
including
135.30 / 443.90
156.35 / 512.96
21.05 / 69.06
30.83
6.63
0.54
0.92
and including
208.65 / 684.55
216.91 / 711.65
8.26 / 27.10
29.07
7.18
0.60
0.96
The New Results For The Two Drill Holes MA-10-25 and MA-10-31 ARE AS Follows:
MA-10-25 DRILL HOLE - NEW RESULTS
FROM (m/ft)
TO (m/ft)
LENGTH (m/ft)
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq
71.59 / 234.88
74.88 / 245.67
3.29 / 10.79
25.31
4.85
0.44
0.75
including
151.7 / 497.70
180.00 / 590.55
28.3 / 92.85
21.49
4.81
0.39
0.66
including
154.2 / 505.91
169.08 / 554.72
14.88 / 48.82
30.65
7.76
0.61
1.00
MA-10-31 NEW DRILL HOLE - NEW RESULTS
FROM (m/ft)
TO (m/ft)
LENGTH (m/ft)
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq
8.52 / 27.95
29.65 /97.28
21.13 / 69.32
29.63
7.62
0.55
0.92
85.94 / 281.96
95.83 / 314.40
9.89 / 32.45
29.55
5.66
0.45
0.81
102.20 / 3335.30
119.53 / 392.16
17.33 / 56.86
19.56
4.19
0.35
0.59
123.28 / 404.46
127.05 / 416.83
3.77 / 12.37
19.52
4.15
0.33
0.57
159.10 / 521.98
162.32 / 532.55
3.22 / 10.56
17.79
4.14
0.33
0.55
The previously released results for the other thirteen drill holes that will now
also be included in the new SGS-Geostat resource calculation are presented below:
HOLE
From
To
Interval
Meterage
Interval
Footage
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq
MA-10-26
49.22 m
50.47 m
1.25 m
4.10 feet
31.20 %
5.81 %
0.39 %
0.66
MA-10-26
76.89 m
80.64 m
3.75 m
12.30 feet
26.26 %
3.55 %
0.28 %
0.50
MA-10-27
42.00 m
48.50 m
6.50 m
21.33 feet
41.57 %
7.24 %
0.60 %
0.96
MA-10-27
54.75 m
58.50 m
3.75 m
12.30 feet
28.56 %
4.46 %
0.35 %
0.59
MA-10-27
68.36 m
69.27 m
0.91 m
2.99 feet
26.96 %
3.81 %
0.30 %
0.53
MA-10-27
85.00 m
86.00 m
1.00 m
3.28 feet
29.27 %
4.63 %
0.34 %
0.59
MA-10-27
108.5 m
109.75 m
1.25 m
4.10 feet
26.82 %
3.90 %
0.34 %
0.57
MA-10-27
123.75 m
125.00 m
1.25 m
4.10 feet
28.07 %
4.17 %
0.36 %
0.60
MA-10-28
91.60 m
95.00 m
3.40 m
11.15 feet
34.93 %
5.34 %
0.46 %
0.76
MA-10-28
112.86 m
127.00 m
14.14 m
46.39 feet
31.30 %
4.98 %
0.41 %
0.68
MA-10-28
148.17 m
160.67 m
12.50 m
41.00 feet
25.34 %
3.81 %
0.36 %
0.57
MA-10-29
77.95 m
86.55 m
8.60 m
28.22 feet
25.99 %
3.71%
0.30 %
0.52
MA-10-29
93.80 m
94.80 m
1.00 m
3.28 feet
35.38 %
6.69 %
0.54 %
0.85
MA-10-29
104.46 m
105.71 m
1.25 m
4.10 feet
30.15 %
4.89 %
0.41 %
0.67
MA-10-29
131.71 m
147.14 m
15.43 m
50.62 feet
55.13 %
9.54 %
0.80 %
1.28
MA-10-30
61.25 m
78.05 m
16.80 m
55.12 feet
43.55 %
6.77 %
0.54 %
0.92
MA-10-30
83.62 m
97.40 m
13.78 m
45.21 feet
30.74 %
5.31 %
0.37 %
0.64
MA-10-30
115.65 m
131.61 m
15.96 m
52.36 feet
39.31 %
6.20 %
0.47 %
0.81
including
123.15 m
131.61 m
8.46 m
27.76 feet
43.33 %
6.98 %
0.56 %
0.93
MA-10-30
139.03 m
158.42 m
19.39 m
63.61 feet
41.18 %
6.97 %
0.53 %
0.89
MA-10-30
167.17 m
171.00 m
3.83 m
12.57 feet
24.03 %
3.11 %
0.32 %
0.52
MA-10-32
20.75 m
37.00 m
16.25 m
53.31 feet
36.93 %
5.36 %
0.32 %
0.63
MA-10-32
38.63 m
41.87 m
3.24 m
10.63 feet
46.95 %
6.02 %
0.41 %
0.81
MA-10-32
50.11 m
52.22 m
2.22 m
7.28 feet
44.52 %
5.33 %
0.45 %
0.84
MA-10-32
56.22 m
83.86 m
27.64 m
90.68 feet
37.87 %
6.26 %
0.41 %
0.74
MA-10-33
54.44 m
59.44 m
5.00 m
16.40 feet
46.33 %
5.06 %
0.32 %
0.70
MA-10-33
63.19 m
70.46 m
7.27 m
23.85 feet
37.33 %
5.44 %
0.33 %
0.65
MA-10-33
72.52 m
81.03 m
8.51 m
27.92 feet
46.91 %
7.24 %
0.55 %
0.95
MA-10-33
83.53 m
84.78 m
1.25 m
4.10 feet
26.53 %
3.85 %
0.30 %
0.53
MA-10-33
90.56 m
101.15 m
10.59 m
34.74 feet
30.94 %
4.71 %
0.33 %
0.60
MA-10-33
105.44 m
116.43 m
10.99 m
36.06 feet
28.33 %
4.11 %
0.30 %
0.55
including
90.56 m
116.43 m
25.87 m
84.55 feet
27.91 %
4.06 %
0.30 %
0.54
MA-10-35
54.02 m
56.52 m
2.50 m
8.20 feet
34.18 %
3.62 %
0.37 %
0.66
MA-10-35
60.31 m
66.46 m
6.15 m
20.18 feet
37.36 %
4.65 %
0.52 %
0.83
MA-10-36
37.03 m
41.73 m
4.70 m
15.42 feet
28.83 %
6.17 %
0.41 %
0.67
MA-10-36
75.99 m
111.0 m
35.1 m
115.16 feet
36.76 %
4.80 %
0.38 %
0.69
MA-10-37
60.75 m
61.90 m
1.15 m
3.77 feet
41.69 %
6.72 %
0.43 %
0.79
MA-10-37
69.69 m
70.94 m
2.54 m
8.33 feet
23.93 %
3.78 %
0.29 %
0.49
MA-10-37
77.19 m
99.17 m
21.98 m
72.11 feet
33.92 %
4.49 %
0.34 %
0.63
MA-10-38
7.05 m
8.13 m
1.08 m
3.54 feet
40.15 %
4.95 %
0.27 %
0.82
MA-10-38
29.60 m
30.85 m
0.36 m
1.18 feet
33.13 %
4.25 %
0.20 %
0.64
MA-10-38
62.25 m
63.25 m
1.00 m
3.28 feet
26.62 %
3.69 %
0.30 %
0.53
MA-10-39
69.55 m
72.88 m
3.33 m
10.93 feet
52.22 %
8.14 %
0.94 %
1.39
Additional Trenching Results - To be included in the new resource calculation are
as follows:
85 channel sample results outlined from the 3 new discovery zones will also be taken
into consideration in the new report and resource calculation.
In July 2010, Apella stripped, washed, mapped and channel sampled three freshly
discovered V-Fe-Ti occurrences it had identified on the Iron-T.
The three stripped
areas are referred to as T-1, T-2 and T-3 and reviewed below in reverse order.
All
of grades obtained as outlined below in Tables A & C from the discovery zones T-1
and T-3 exceed the conservative breakeven criteria of 0.48% V2O5 Eq as outlined
in the recent SGS-Geostat Report.
Samples reported below from the T-3 discovery
zone exceeded the breakeven of 0.48% V2O5 Eq by a considerable margin ranging from
62.5% to 133%.
Discovery Zone T-3: corresponds to a mineralized outcrop discovered while carrying
out the last drilling programme.
This highly mineralized outcrop is located 25 m
(82 feet) north of Apella drill hole MA-10-15.
The showing clearly displays numerous
semi- massive to massive oxide layers (20-40 cm thick), and corresponds to a high
magnetic anomaly Apella refers to as the II Zone.
The extensive T-3 stripping is
35 m (115 feet) long by 20 m (65.62 feet) wide.
Semi-massive to massive oxide layers
have been observed and sampled.
Because of the rounded nature of the outcrops, with
their steep slopes due to the presence of strong fractures, the channel sampling
has been made on short lengths.
A total of four channels were sawn covering a total
length of 23.75 m (78 feet).
At this location, channel samples are 1.50 m (5 feet)
long.
Results obtained are as follows:
TABLE A:
STRIPPING
SAMPLE
LENGTH
METRES
LENGTH
FEET
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq %
T-3A
11.75
38.55
41.64 %
7.73 %
0.42 %
0.78 %
T-3B
4.50
14.76
53.51 %
8.85 %
0.65 %
1.12 %
T-3C
3.00
9.00
46.47 %
9.24 %
0.51 %
0.92 %
T-3D
4.50
14.76
51.81 %
10.32 %
0.54 %
1.00 %
Discovery Zone T-2: stripping corresponds to mineralization discovered by prospecting
during the last drilling campaign.
At the time, a grab sample was taken in a massive
oxide layer and assayed (see Apellas Press Release of Thursday June 17, 2010).
It returned 46.48% Fe2O3, 8.14% TiO2 and 0.64% V2O5.
The T2 stripping is 60 m (196.85
feet) by 15 m (50 feet) wide.
A total of 32 channel samples, each 1.25 m (4.10 feet)
long, were taken, covering a length of 40 m (131 feet).
Results are as follows:
TABLE B:
STRIPPING CHANNEL
LENGTH
METRES
LENGTH
FEET
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq %
T-2A
3.75
12.30
27.07 %
3.80 %
0.20 %
0.43 %
T-2B
36.55
120.0
25.22 %
3.66 %
0.20 %
0.41 %
Even though the initial channel sample results obtained show that the T-2 stripping
crosses a low grade zone with thin massive oxide layers these results justify a
verification of the grade at depth by one or two drill holes.
Discovery Zone T-1: is the widest and most extensively stripped area of the three
discovery zones.
The stripping on T-1 identified outcropping over an area about
100 m (328 feet) long by 30 m (98.40 feet) wide.
It crosses a strong magnetic anomaly.
Observed mineralization corresponds from disseminated through to narrow massive
oxide layers.
Six channels have been sawn and a total of 40 channel samples were
taken for analysis.
Each channel sample is 1.25 m long (4.10 feet).
Total sampled
length is 60 m (197 feet).
Results are as follows:
TABLE C:
STRIPPING
CHANNEL
LENGTH
METRES
LENGTH FEET
Fe2O3 %
TiO2 %
V2O5 %
V2O5 Eq %
T-1A
5.00
16.40
32.48 %
5.43 %
0.30 %
0.59 %
T-1B
2.50
8.20
28.21 %
4.53 %
0.24 %
0.49 %
T-1C
11.50
37.73
33.36 %
5.08 %
0.34 %
0.63 %
T-1D
20.00
65.52
31.73 %
5.28 %
0.26 %
0.53 %
T-1E
7.50
24.61
29.85 %
4.67 %
0.24 %
0.50 %
T-1F
3.75
12.30
30.70 %
5.07 %
0.26 %
0.52 %
Apella believes that there is good potential to expand the mineral resource at Iron-T
significantly with drilling along strike and at depth.
The Iron-T Vanadium-Iron-Titanium Project currently consists of 146 claims totaling
3,995.57 Ha covering one continuous block of claims straddling Lozeau, Comporte
and Isle Dieu townships, Quebec, Canada.
The central part of the claims is located
10 km ESE of the town of Matagami.
The property is accessible via an all-weather
gravel road N805.
The Iron-T Vanadium-Iron-Titanium project is not subject to any
environmental liabilities.
Apella has a 100% interest in all of the Iron-T mineral
claims.
Apella has a considerable competitive advantage over other such projects globally
because:
* All 3 of it high-grade Vanadium-Iron-Titanium are located in the Province
of Quebec, Canada - the most favoured mineral exploration and mining locale
on the planet.
Apella is not subject to the implications and complications
of dealing in global areas of unstable and unpredictable political climates
as a number of its competitors are.
* Quebec provides Apella with a cash refund of approximately 36% of every dollar
spend on exploration in the province, something unmatched world-wide.
* The existing resource Apella has identified to date on its Iron-T Project
occupies only a small footprint of the overall property and magnetic signature
obvious from air and ground surveys carried out to date.
* All the necessary infrastructure including accommodation, transportation
(by rail and road), power, water etc.
are all within a few km of each of
Apellas three projects.
* The Company believes its Iron-T, Lac Dore, and Lac Dore North Vanadium-Iron-Titanium
projects have a significant advantage over other potential primary vanadium
producers globally because Apellas high-quality mineral bodies not only provide
excellent vanadium grades but also exceptional iron and titanium credits which
would collectively provide considerable operating credits to an operations
bottom line.
This is an opportunity lacking from nearly all of the up and coming
competitive deposits worldwide.
* Particularly advantageous to Apella is the fact that to date Apella has managed
to advance its three Canadian Vanadium-Iron-Titanium projects without the
need to short-sell its future profit potential by prematurely entering into
highly dilutive joint-ventures or alternatively entering into unfavourable
premature off-take agreements whereby future production might have been
sold and committed at pricing far short of future potential.
* Apella has not allowed itself to jeopardize its control position of these
valuable assets by entering in any form of dilutive financing and bridge loan
arrangements as some of its competitors have been compelled to do.
* Apella has managed to retain a 100% interest in all of its projects and the
associated ore and is now able to capitalize on higher anticipated V2O5 and
iron prices.
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.
OBrien
Patrick D.
OBrien, 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.
With any further questions,
CONTACT
W.
Adrian Bakker
Business Development
Apella Resources Inc.
APA - TSX-V
Suite 1600, The Bower Building
543 Granville Street
Vancouver, BC V6C 1X8
Ph: 604-683-8990
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