Apella Wins Landmark Lac Dore Decision; Lac Dore Vanadium-Iron-Titanium Deposit
09 March 2011 - 7:09AM
Marketwired
Apella Resources Inc. (TSX VENTURE: APA)(OTCQX: APAFF)(FRANKFURT:
NWN) is very pleased to announce that the Quebec Court, Mines
Tribunal, Administrative and Appeal Division, has rendered a
judgment in favour of Apella Resources Inc. awarding Apella all
nine mining claims which it was seeking in the Lac Dore
Vanadium-Iron-Titanium deposit. Combined with the nine claims
previously awarded to Apella by the Ministere des Ressources
Naturelles et de La Faune ("MRNF"), Apella's claims cover
approximately 95% of the original 100 Mt Lac Dore
Vanadium-Iron-Titanium deposit held by the Province of Quebec as a
crown asset for more than 40 years.
The decision of the Quebec court arises out of a staking rush
over the prized Lac Dore claims in August, 2007. At that time
Apella and another competing party sought to stake the same claims
covering the Lac Dore deposit. In January, 2010, the MRNF issued a
decision awarding nine claims to Apella and two claims to the
competing party while refusing to award the remaining claims to
either party. Apella appealed the decision of the MNRF and on
February 23, 2011 the Honourable Francois Godbout, J.C.Q. awarded
the sought after nine claims to Apella.
Patrick D O'Brien, ICD.D, Apella's Chief Executive Officer
commented, "This is precisely the outcome we sought, nothing more,
nothing less. Judge Francois Godbout, J.C.Q. made a just and
appropriate decision which now allows Apella to expeditiously focus
on the development of the Lac Dore. In concluding this lengthy
multi-year process Apella has rightfully gained entitlement for its
shareholders to the near entirety of the Lac Dore, notably, the
world's second largest vanadium deposit. Apella's Board and
Management wish to extend their sincere gratitude to all of the
planners, stakers, geologists, legal advisors, and consultants; and
especially our patient and devoted shareholders for standing by and
supporting us through this long but achievable undertaking. Our
goal has been achieved."
The Lac Dore claims in this matter form a very important and
integral part of the well known Lac Dore Vanadium Deposit in
Chibougamau, Quebec. The geological setting and mineralization
encountered in the Lac Dore Deposit has many similarities to that
of Apella's 100% owned Iron-T Vanadium-Iron-Titanium project
located in the Bell River Complex to the west, and with typical
world-class magmatic Fe-Ti-V oxide deposits associated with a
layered intrusive complex. Most of these deposits that are of
producible importance world-wide are associated with
mafic-ultramafic layered complexes such as the Lake Dore Complex;
the Windimurra Complex in Australia; the Panzhihua layered
intrusion in China and the Bushveld Complex in South Africa. About
39.5% of total world vanadium production (55 700 t in 2006 (USGS,
2006)) is said to come from the Bushveld Complex alone, in
particular the Rhovan Mine. The V-Fe-Ti oxide ores at Bushveld,
have one major disadvantage, in that they are formed by concordant
layers varying from 0.1 m to only 10 m in thickness within the
Upper Zone but most of these layers are relatively thin and less
than 30 cm in thickness.
"The economically important Main Magnetite Layer varies from 1.0
to 2.5 m in thickness and covers a strike length of 200 km in the
western Bushveld Complex and 120 km in the Eastern Bushveld
Complex" (Reynolds, 1985). The Rhovan mine is the primary vanadium
producer situated within the Western Lobe of the Bushveld Complex.
The mine is located some 35 km ENE of Rustenburg, South Africa. The
vanadium mineral resource and ore reserve of Rhovan mine reported
by Xstrata Alloys as of September 2007 (Xstrata Alloys, 2008)
are:
Proven Ore Reserves - 39.2 Mt @ 0.51% V2O5
Probable Ore Reserves - 10.5 Mt @ 0.53% V2O5
Measured Mineral Resources - 64.4 Mt @ 0.51% V2O5
Indicated Mineral Resources - 13.7 Mt @ 0.53% V2O5
Inferred Mineral Resources - 124.9 Mt @ 0.51% V2O5
The Lac Dore Complex is a Bushveld-type Archean layered mafic
intrusion (Allard, 1976) located some 250 km due east of Matagami
in the Chibougamau mining camp. The Lac Dore is an advanced
Vanadium project; currently the largest vanadium deposit in North
America, and the second largest in the world. It shows a geological
setting and vanadiferous mineralization similar to Apella's Iron-T
vanadium project. Unlike the Bushveld, the Lake Dore Complex itself
is 5 to 7 km in thickness. The magnetite horizons vary from 50 to
200 m in thickness and extend several km along strike as inferred
from airborne magnetic data. "The Lac Dore Vanadium deposit at
Chibougamau is estimated to host 100.0 Mt grading 0.49% V2O5
including 32.2 Mt of measured resources at 0.65% V2O5" (Girard and
Allard, 1998). Apella derived these details from the public
domain.
It should be noted that in accordance with present reporting
requirements the potential quantity and grade is conceptual in
nature, that there has been insufficient exploration to define a
mineral resource, and it is uncertain if further exploration will
result in discovery of a mineral resource on the property. However,
it should also be noted for clarification that historically the Lac
Dore deposit was subject to a positive feasibility study in 2002 by
SNC-Lavelin for the production of V2O5. The reader is referred to
the USA's EDGAR reporting system to access and review a copy of the
McKenzie Bay International Ltd. Executive Summary.
Apella has concluded that with the ownership of the
aforementioned 18 Lac Dore Vanadium-Iron-Titanium deposit claims,
coupled together with Apella's present 100% ownership in the
near-by Iron-T and Lac Dore North Vanadium-Iron-Titanium projects,
the Company has the potential to quite rapidly control enough
mineralization to propel Apella into the position of having the
most extensive Vanadium assets in the world.
This press release has been reviewed by Dr. Christian Derosier,
P. Geo., Consulting Geologist and Qualified Person for the Lac
Dore, Iron-T and Lac Dore North Vanadium-Iron-Titanium projects
under National Instrument 43-101.
Additional information is contained on the Company's website at
www.apellaresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
Patrick D. O'Brien, ICD.D - Director
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.
Contacts: Apella Resources Inc. Patrick D. O'Brien ICD.D -
Director 604-683-8990 or Toll Free: 1-800-663-8990 604-683-8903
(FAX) apella@apellaresources.com www.apellaresources.com
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