Appia Rare Earths & Uranium Corp., a publicly traded company focused on critical mineral exploration, announced today that it has completed the acquisition of the PCH Project in Goiás State, Brazil. The PCH Project consists of 14 mineral claims covering an area of 11,948 hectares and has potential for rare earth elements (REE) and uranium mineralization.

A Strategic Move for Appia

Appia’s CEO, Tom Drivas, expressed his satisfaction with the closing of the deal, which was first announced in October 2023. He said that the PCH Project represents a strategic opportunity for Appia to diversify its portfolio and expand its presence in the Americas.

“The PCH Project is located in a mining-friendly jurisdiction with excellent infrastructure and access. It has historical exploration work that indicates the presence of REE and uranium mineralization, as well as other commodities such as gold, copper, and zinc. We are excited to advance this project and unlock its potential for our shareholders and stakeholders,” Drivas said.

Appia acquired the PCH Project from a private Brazilian company, Mineracao PCH Ltda., for a total consideration of $2.5 million, payable in cash and shares. Appia also granted a 2% net smelter return royalty to the vendor, which can be reduced to 1% for $1 million.

A Promising Project for Critical Minerals

The PCH Project is located in the central part of Goiás State, about 250 km southwest of Brasilia, the capital of Brazil. The project is accessible by paved and gravel roads and has power and water available nearby.

The project lies within the Brasilia Belt, a geological province that hosts several mineral deposits and occurrences, including the world-class Chapada copper-gold mine, operated by Lundin Mining. The project also overlaps with the Parana Basin, a sedimentary basin that contains significant uranium resources.

The PCH Project has been explored for various commodities since the 1970s, but the main focus has been on REE and uranium. Previous exploration work, including geological mapping, geochemical sampling, geophysical surveys, and drilling, has identified several anomalies and targets for further investigation.

According to Appia, the project has the potential to host high-grade REE and uranium mineralization, as well as other metals such as gallium, scandium, and yttrium. These are critical minerals that are essential for the development of clean energy technologies, such as electric vehicles, wind turbines, and solar panels.

Appia plans to conduct a comprehensive exploration program on the PCH Project, starting with data compilation and verification, followed by field work and drilling. The company aims to define the extent and grade of the mineralization and to evaluate the economic potential of the project.

A Diversified Portfolio for Appia

The PCH Project is the latest addition to Appia’s portfolio of critical mineral projects in the Americas. The company also owns the Alces Lake Project in Saskatchewan, Canada, which is one of the highest-grade REE and gallium projects in the world. Appia has discovered several zones of REE and gallium mineralization on the Alces Lake Project and is currently conducting a 5,000-meter diamond drilling program to expand the resources.

In addition, Appia has four uranium projects in the Athabasca Basin, the world’s premier uranium district. These projects are the Otherside, Loranger, North Wollaston, and Eastside properties, which cover a total area of 65,601 hectares. Appia has identified several uranium targets on these properties and is planning to conduct exploration work in the near future.

Appia’s vision is to become a leading supplier of critical minerals for the green economy. The company believes that its projects have the potential to provide high-quality and secure sources of REE and uranium, as well as other valuable metals, for the global market.