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However, in order to do so, the world will need massive amounts of Vanadium. Fortunately for Apella, it appears to hold two of the most significant Vanadium deposits on the planet. Apella will undoubtedly play a major role in the future of Vanadium battery technologies which have shown tremendous growth worldwide. In addition to opportunity created by the deficit of Vanadium for earthquake safe and specialty steels which commands 90% of global supply, Apella believes it has the ability to positively impact the renewable energy sector worldwide. The Lac Dore Vanadium-Titanium-Iron Project
Lemoine & Rinfret Townships, Quebec, Canada
The 100% owned Lac Dore project is less than 30 air miles south of the mining and forest service town of Chibougamau, Quebec. The area is well serviced by air, rail and road. Together with readily available electrical energy and water, a solid mining infrastructure is in place for the development of a mine and production of Vanadium, Iron and Titanium. Approximately C$13 million has been spent on this project to date including extensive exploration and metallurgical work by the government of Quebec as a previous owner. Apella acquired a 100% interest in its Lac Dore claims after a competitive staking rush in 2007. SNC-Lavalin had completed a Feasibility Study on Lac Dore for a third party before NI 43-101 compliance became an industry standard. The reported calculation at the time (20022003) was 102 million tonnes of 0.5% V2O5. The focus of SNC-Lavalin’s positive feasibility study was the central portion of Apella’s 18 claims awarded to Apella in March 2011. SNC-Lavalin concluded the deposit was economical on Vanadium alone; when Vanadium was trading at approximately a third of the price it is today. At current metal prices, the Iron and Titanium content of the deposit, previously ignored, add more value to the deposit than the highly prized Vanadium itself. Apella, like SNC-Lavalin, considers these claims to be the most favorable in the region. The deposit is hosted within a hillside which has created an optimal setting for an open pit mine. Apella intends to develop its Lac Dore assets so that it derives as many value added downstream profit points as possible and maximizes the value it creates for the economy of Quebec. Apella’s immediate objective at Lac Dore will be to verify and confirm the remarkable historic results to date and bring the resource to NI43-101 compliant standards. Apella’s second objective is to complete a bankable feasibility study on this resource. In achieving this, Apella will have a significant cost advantage, in that it will utilize the previous work in its favor.
Lac Dore area mineralization – Apella photo 2009
The Iron-T Vanadium-Titanium-Iron Project
Isle-Dieu, Lozeau, Galinée and Comporté townships Quebec, Canada
Apella’s 100% owned Iron-T Project is located nearadjacent to the mining town of Matagami; which is serviced by air, rail and road, as well as ample electrical power and water. The geophysical signature of the deposit lends itself well to the development of an open pit Vanadium-Iron-Titanium mine. Being about three times the width of Lac Dore Deposit also owned by Apella, the Iron-T open pit would utilize more gradual inclination in the pit walls allowing for the excavation of far more ore from a shallower depth. The Iron-T’s 15.5 km strike length provides excellent expansion potential. Apella has launched its 4th phase of exploration. The results to date confirm strong similarities in the mineralization to Apella’s Lac Dore Deposit. A historic airborne flown by Abitibi Geophysics over the Iron-T outlined a target area of 15.5 km in length with estimated resources of 250 million tonnes (non NI 43-101 compliant) In August 2010, SGS-Geostat delivered to Apella a NI 43-101 resource estimate of 11.63 million tonnes grading 0.73 V2O5 EQ. As of June 3, 2011, SGS-Geostat has upgraded the resource to 14.38 million tonnes grading 0.42% V2O5 , 39.04 % Fe2O3 and 6.55% TiO2 (0.77 V2O5 EQ); an increase in tonnage of 24%. (All resources to date are in the inferred category) The new metallurgy shows high recovery results for Vanadium with 90% of samples having a recovery of greater than 79.6% Vanadium. Apella’s primary objective at this time is to increase tonnage and resource classification of the Genesis Zone through systematic infill drilling. Apella has carried out part of this systemic development drilling and will be releasing results soon. To date, the main Genesis Zone is confined within a 1.5 km area. Apella anticipates that the tonnage achievable on the Iron-T will be directly related to the number of future holes it drills. The Iron-T displays similarities with other typical world-class magmatic Fe-Ti-V oxide deposits like the Bushveld Complex in South Africa; where the majority of current Vanadium production comes from.
Typical outcrop on Western Extension shows mineralization at surface
Main Zone: Genesis Zone at 14.38 Million Tonnes of 0.42 V2O5
This document may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from expectations and projections set out herein.