VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/06/12 --
Apella Resources Inc. which trades on (TSX VENTURE: APA) (OTCQX: APAFF) (FRANKFURT: NWN) is pleased to report that its subsidiary Prestige Mining Corporation has approved the commencement of a pre-drill field program on the 100% owned Lac Dore Vanadium-Iron-Titanium Project. The program will entail the opening of winter roads to and on the site, establishment of the historic McKenzie Bay grid, and the surveying of historic and newly planned diamond drill locations.
This first phase of exploration work on Lac Dore will re-establish and extend the previous grid (1997), establish a minimum of three permanent bench marks which will be used for future infrastructure and mine construction; and survey the previous drill holes, trenches and stripping utilized in the earlier, pre-NI 43-101, Feasibility Study in 2002-03. Following this program, the company is planning to carry out a magnetometer survey, a stripping program and a diamond drilling campaign aimed at twinning a number of the historic holes.
Apella's planned follow-up 2012 diamond drilling programs will be designed to address a number of desirable outcomes:
1. To confirm the geological and mineralogical context as well as the thickness and grade of the mineralization intersected historically within the known deposit by twinning a number of the historic drill holes. This twinning would permit Prestige/Apella to qualify the previous non-compliant NI 43-101 resources calculated by Allard and Girard (1998) and SNC-Lavalin (2003) to Measured and Indicated Mineral Resources.
2. To confirm the extension at depth of the known mineralized zones and to fill some gaps in the historic drilling patterns. These holes would be aimed at enabling an increase in the resources and will bring a large part of them to Measured Mineral Resources category.
3. A number of drill holes are planned for sections of the known horizon which have yet to have been drilled historically. The holes will test the extension at depth of the apparent mineralized layers.
4. In addition, the company may drill a number of additional drill holes which would be targeted at a significant geophysical target identified on the horizon that does appear to have drill tested in the historic campaigns. This would verify the NE extension of the deposit, between the main previously drilled areas and the eastern boundary of the property. These holes could add substantial NI 43-101 compliant resources to the Lac Dore Project.
It is anticipated that the first phase or two of diamond drilling, upon completion, would bring the Lac Dore Project to Pre-Feasibility Study level. Additional drilling will be necessary to bring to project to the Feasibility Study level, calculate and establish the Probable and Proven Mineral Reserves and commence mine planning where feasible.
The Lac Dore Project is comprised of 42 mineral claims, including the 18 key claims previously owned by the Province of Quebec, encompasses 672 Ha (1,660.55 Acres). It is situated approximately 40kms SE of the mining centre of Chibougamau, Quebec. It covers most of the well-known historic Lac Dore Vanadium-Iron-Titanium deposit, which for more than 40 years was a crown asset of the Province of Quebec. The Lac Dore deposit, in 2002-03, was the subject of a positive non-compliant NI 43-101 Feasibility Study by SNC-Lavalin, with regard to the production of vanadium.
The Lac Doré Complex (Allard, 1976) is a Bushveld-type layered complex, folded into a large anticline and metamorphosed to the green schist facies like the enclosing volcanic rocks, with which it is coeval and comagmatic. From bottom to top, the Complex has been divided into three mains zones: Anorthosite Zone (Main zone), Layered Zone, and Upper Border Zone. This last includes the Soda-granophyre and Ferrodioric Zones. The vanadium mineralization in the Lac Doré Complex is contained in the lower-most part of the Layered Zone. The vanadium horizon consists of rhythmically layered units (50 to 200 m thick layered zones) rich in ferroaugite, magnetite and ilmenite interbedded with layers of leucogabbro. The Fe-Ti oxides are heterogeneously and rhythmically distributed, with the Fe-Ti-oxide-rich horizons intercalated with oxide -free-horizons.
This press release has been reviewed by Dr. Christian Derosier, P. Geo., Consulting Geologist and Qualified Person for the Iron-T and Game-Changer Projects under National Instrument NI 43-101.
Additional information, as it is available, will be contained on the Company's website at www.apellaresources.com or the company can be contacted at 604-683-8990.
ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC.
Patrick D. O'Brien, 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.
Contact Information
Apella Resources Inc.
Adrian Bakker
604-683-8990 or Toll Free: 1-800-663-8990
604-683-8903 (FAX)
apella@apellaresources.com
www.apellaresources.com
