VANCOUVER, Oct. 30 - Apella Resources Inc. (TSX.V Symbol (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.
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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
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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 Doré layered igneous Complex situated some
250 kilometres east in the Chibougamau mining district of Québec (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 Doré 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.
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>>
For further information: 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,
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