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Friday, October 31, 2008
Apella Resources Inc. - IRON-T Vanadium-Titanium Project Delivers Very Encouraging Vanadium and Titanium Assay Results
Comtex
VANCOUVER, Oct. 30, 2008 (Canada NewsWire via COMTEX) ----Apella Resources Inc. (TSX.V: APA); Frankfurt Symbol (NWN), is pleased to announce that the company has received assays from its recent channel sampling program carried out on the 100% owned Iron-T Vanadium-Titanium project situated near the mining centre of Matagami in central Quebec. Apella's claims cover a significant portion of the renowned Bell River Complex, where previous exploration work carried out by Noranda Inc. during the 1990's delineated and confirmed the presence of Vanadium, Titanium and Iron mineralization over a distance of about 20 km. Vanadium and Titanium results in the tables below are expressed as a percentage. To convert Vanadium assays to Vanadium Pentoxide (V2O5) equivalents as these are commonly utilized and quoted by the industry, we multiplied the assay results by the required factor of 1.785. The Vanadium values of the mineralized horizons, as shown in the tables below, are equivalent to those of current primary Vanadium producers and potential new producers, globally. The samples were analyzed for a total of 25 elements including the major elements phosphorus and sulfur. Low levels of these particular two elements is important and the sampling results have provided confirmation that the levels of these two elements are indeed very low, meeting or exceeding industry maximum standard levels. The levels of Vanadium and Titanium are very encouraging. Typical grades of currently exploited deposits are in the order of 0.50% V2O5 with a break-even point at the current Vanadium prices, of 0.20% V2O5. The current market prices of Vanadium Pentoxide at $13.50 USD/LB, and Titanium at $14.00 USD/LB have remained stable.
<< Results of assays are as follows: Consulting Geologist's sampling: Sample Number Fe% P% S% TiO2% V% V2O5% 224925 39.60 (less than)0.001 0.581 9.96 0.33 0.589 224926 43.30 (less than)0.001 0.198 11.45 0.37 0.660 Apella's field sampling Sample Number Fe% P% S% TiO2% V% V2O5% 825401 11.45 0.007 0.425 1.86 0.077 0.137 825402 8.87 0.012 0.287 1.39 0.053 0.095 825403 24.70 (less than)0.001 0.626 5.50 0.203 0.362 825404 39.00 (less than)0.001 0.245 10.15 0.378 0.675 825405 27.10 0.001 0.511 5.75 0.208 0.371 825406 32.80 (less than)0.001 0.503 7.42 0.251 0.448 825407 37.60 (less than)0.001 0.525 9.30 0.300 0.536 825408 39.20 (less than)0.001 0.572 9.79 0.317 0.566 825409 31.90 0.001 0.941 7.01 0.222 0.396 825410 22.30 0.001 0.309 4.93 0.180 0.321 825411 32.70 (less than)0.001 0.432 8.15 0.290 0.518 825412 36.10 (less than)0.001 0.183 9.24 0.331 0.591 825413 36.00 (less than)0.001 0.716 8.65 0.309 0.552 825414 38.20 0.002 0.595 9.36 0.323 0.577 825415 41.20 (less than)0.001 0.566 10.65 0.340 0.607 825416 43.60 (less than)0.001 0.392 11.50 0.365 0.652 825417 32.30 0.001 0.544 7.40 0.241 0.430 825418 27.20 (less than)0.001 0.127 6.76 0.239 0.427 825419 47.10 (less than)0.001 0.279 12.90 0.459 0.819 825420 26.70 (less than)0.001 0.250 6.00 0.221 0.394 825421 35.90 (less than)0.001 0.552 8.70 0.310 0.553 825422 39.40 (less than)0.001 0.608 9.48 0.329 0.587 825423 45.30 (less than)0.001 0.399 12.20 0.380 0.678 825424 37.80 (less than)0.001 0.462 9.40 0.305 0.544 825425 35.60 (less than)0.001 0.524 8.65 0.270 0.482 >>
The Iron-T is centered just 10 km east of the town of Matagami, Quebec. Since 1963 and the discovery of the Bell Allard base metals mine, Matagami has offered all facilities and infrastructure needed for a mining operation. The 10 km long, 1,672.9 hectare Iron-T mining property covers a significant portion of the Bell River Complex, a layered gabbroic intrusion which contains in its upper part, iron-rich horizons hosting the Vanadium and Titanium mineralization. The vanadium-rich horizons are well defined on the ground and in aeromagnetic surveys by their high magnetic susceptibilities.
It is notable that the Bell River Complex in Quebec hosting the Iron-T may be compared to the Lac Dor� layered igneous Complex situated some 250 kilometres east in the Chibougamau mining district of Qu�bec (in part also owned by Apella), and to the Bushveld layered Complex of South Africa, a well described locality for deposits of vanadium. Mineralization is confined to zones of magnetite-ilmenite enrichment in the upper zone gabbroic sequence of these Complexes. Magnetite is predominant over ilmenite with the magnetite crystals commonly displaying ex-solution lamellae of ilmenite. The vanadium is principally associated with magnetite fraction where it replaces trivalent iron.
Samples No.224925, and No.224926 from the Iron-T were made in early August 2008 by an Independent consulting geologist, Mr. R. Moar, P. Geo., who was awarded the task of preparing a NI 43-101 compliant report on the property. A second sampling was made by Apella's exploration team under the supervision and auspices of Dr. Christian G. Derosier, P.Geo and Vice President-Exploration of Apella. This second sampling which consisted of three long channel samplings was made across a mineralized stripped area uncovered by Noranda in 1998. All samples were properly tagged and sealed before being sent to the ALS-Chemex laboratory in Val d'Or, Quebec where they were assayed using a method of assaying specially tailored in 1998 for the Noranda Bell River project and McKenzie Bay's Lac Dor� project. One blank sample was added to the batch of samples sent. Standards were added by the laboratory and duplicates were made at random. Samples were treated by fusion using lithium metaborate followed by X-Ray fluorescence spectrometry for the characterization of iron ores.
Vanadium is a strategic metal and is used in the production of high-quality metal alloys, like strengthened steel, because of its property as an active grain refiner and as a strong deoxidant and can impart strength, hardness and wear resistance to steels. The vanadium industry is relatively new and new uses are continually being discovered for the metal. Following are a number of the main uses of vanadium by various industries: iron and steel, high-strength steels , full alloy steels , tool steels , carbon steels , stainless and heat resistant steels , cast irons, titanium alloys, superalloys and hard-facing alloys, aerospace engines and airframe materials.
Non-metal end-uses for Vanadium: catalysts, ceramic, glasses and pigments, electronics, batteries (e.g., vanadium redox batteries).
The qualified person for the purposes of this news release is Dr. Christian G. Derosier, MSc, DSc, geology.
<< Apella invites the public to visit its NEW website at http://www.Apellaresources.com or e-mail us at Apella@Apellaresources.com to be added to the Company's e-mail list for press releases and updates. ON BEHALF OF THE BOARD OF DIRECTORS OF APELLA RESOURCES INC. "Patrick D. O'Brien" --------------------------- Patrick D. O'Brien - Chairman S.E.C.Exemption12(g)3-2(b) File No. 82-3822, Standard & Poors Listed, Dun & Bradstreet Listed. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS NEWS RELEASE SHALL NOT CONSTITUITE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY SECURITIES IN ANY JURISDICTION. "SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: THIS NEWS RELEASE CONTAINS FORWARD LOOKING STATEMENTS THAT ARE NOT HISTORICAL FACTS AND ARE SUBJECT TO RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE SET FORTH IN OR IMPLIED HEREIN >>
SOURCE: Apella Resources Inc.
Suite 1600, The Bower Building, 543 Granville Street, Vancouver, British Columbia, Canada, V6C 1X8, Tel: (604) 683-8990, Toll-Free: 1-800-663-8990, Fax: (604) 683-8903, www.apellaresources.com, apella@apellaresources.com
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If you've seen TV footage of an active trading pit, you've probably noticed the atmosphere is uproarious and wild. The reason for all the shouting? Open outcry.
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