Apella Resources (TSX.V: APA; Frankfurt: NWN) reported further encouraging results from the company’s ongoing exploration efforts at the Lac Dore North vanadium project in northern Quebec, which is located in close proximity to the Lac Dore Vanadium-Iron-Titanium deposit.
The junior exploration and development company released preliminary results from the Phase I diamond drilling program at Lac Dore North, which were “indicative of a rare, high grade and mineable vanadium deposit”. The 2009 Phase 1 diamond drilling and 2009 channel sampling programs were carried out from July to September, when a total of 993 meters was collared. Four holes tested a 100 meter extension of the iron oxide mineralisation stripped and cleared by Apella in the third quarter of 2008, while one hole was collared 120 metres south-southwest of the stripping area to test the Mackenzie Bay’s 1998 iron oxide mineralization originally recorded in drill hole MKB-01-02. A further three holes tested for stratigraphic extensions over an 1850 metre area indentified through an airborne magnetic survey previously completed by Apella.
The best assay results were obtained over the area Apella had earlier stripped. These holes returned values between 0.46% V2O5 to 0.64% V2O5 over lengths varying from 0.71m to 5.28m along core length in hole LDN-09-01, while hole LDN-09-04 recorded 0.46% V2O5 over 0.79m and hole LDN-09-06 returned 0.47% V2O5 over 4.25m and 0.45% V2O5 over 0.50m.
“The mineralized Fe2O3, TiO2, and V2O5 zones in the Lac Dore North area are commonly multi-layered in nature. Due to folds and other characteristics the mineralized intersections Apella would expect to encounter are characterized by short multiple intersections of mineralization, layered throughout the core,” the company stated. “Long continuous intersections of mineralization are not the norm in this area.”
With the additional information collected from the Phase I drilling campaign, Apella now intends to refine the next round of diamond drilling to target the most favourable target areas.
“This is an outstanding start to our development of the Lac Dore North project. Due to its proximity to the well-known Lac Dore Vanadium-Iron-Titanium deposit, we feel this drilling program has confirmed the extension of this unique formation,” stated Patrick O’Brien, CEO of Apella. “We are in the process of compiling as much precise geological data as possible at this early stage. We consider vanadium to be one of the world’s most important elements, given its steel strengthening properties and bright future in energy storage.”