🕐24.10.11 - 20:27 Uhr
APELLA RESOURCES INC. NEWS - GAMECHANGER PROJECT ACQUISITION
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Apella Expands With New
Ontario Vanadium-Iron-Titanium Discovery
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Vancouver, BC - October 24th, 2011
Apella Resources Inc.
(TSX.V Exchange: "APA"), (U.S.A.
OTCQX Exchange: "APAFF"),
is pleased to report the acquisition of a strategic new Canadian Vanadium-Iron-Titanium
discovery situated near Timmins, Ontario.
Apellas 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 Apellas 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.
Apellas 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.
Derosiers due diligence procedure
and subsequent study is very similar to the newly discovered Northwestern Zone situated
on Apellas Iron-T Vanadium-Iron-Titanium Project just across the Quebec-Ontario
border.
Apellas Iron-T Project is part of the Bell River Complex which a large,
layered intrusion of Archean age in Quebecs 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 Apellas project QP took a further five
grab samples.
Two of Dr.
Derosiers samples were taken on the same occurrences as
the prospectors 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 Apellas 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.
Apellas samples are assayed by ALS-Chemex
Ltd.
in North Vancouver using the XRF method and ICP method for the other elements.
Apellas 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 + 0.011*Fe+0.006*TiO2 = %
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.
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
Video
of the
Iron-T Vanadium Deposit
Subscribe to Apellas Video Channel
Interview With W.
Adrian Bakker
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