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Vancouver, BC - Monday, November 30th,
2009, 11:45 a.m. PDT
Apella
Resources Inc. (TSX.V: APA); Frankfurt: NWN)is pleased to announce
encouraging drill results from the Lac Dore North vanadium project in
northern Quebec. These preliminary results are indicative of a rare,
high grade and mineable vanadium deposit and lend support to the
project's economic feasibility. In addition, these assets are
strategically located in areas with excellent access by rail and
highway. This is a further step toward Apella's end goal of
establishing a one of a kind stable, domestic supply of vanadium.
Apella CEO, Patrick
O'Brien states, "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. 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."
The 2009 Phase
1 diamond drilling and 2009 channel sampling programs were carried
out from July to September on Apella's wholly owned Lac Dore North
Vanadium-Iron-Titanium (V-Fe-Ti) Project at Chibougamau, Quebec. The
2009 exploration program has provided very important information that
will now be used by Apella in targeting for its next phase of
exploration and diamond drilling.
Technical
Information:
A total of ten
NQ core size diamond drill holes totaling 993m in length were
collared as an initial diamond drilling program on the Lake Dore
North project. Holes LDN-09-01, LDN-09-03, LDN-09-04 and LDN-09-06
were bored to test at depth and over a strike length of 100m the
extension of the iron oxides mineralization of the two large stripped
areas cleared by Apella in the fall of 2008. Apella's drill
hole LDN-09-02 was collared 120 metres S-SW of the stripping area to
intersect Mackenzie Bay's 1998 iron oxides mineralization obtained in
hole MKB-01-02. Exploration holes LDN-09-05 and LDN-09-07 to
LDN-09-10 were widely distributed over a surface distance of 1850m
along the airborne magnetic anomaly to test for possible
stratigraphic extensions. They returned lower oxide contents because
they were not collared close enough to the magnetic airborne anomaly
axis. In addition, the presence of a set of NE oriented faults which
displaced the mineralized layers explained the weaker results in
these particular holes. These faults are interpreted from topographic
features and displacements of the magnetic axis.
The best assay
results were obtained over the area Apella
had earlier stripped and these more favourable 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; 0.46% V2O5 over 0.79m in hole
LDN-09-04; 0.47% V2O5 over 4.25m and 0.45% V2O5
over 0.50m in hole LDN-09-06. Apella can
now target its next round of diamond drilling at the more favourably
mineralized target areas.
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. Long
continuous intersections of mineralization are not the norm in this
area.
Significant
assays results and calculated weighted grades for Fe2O3,
TiO2, V and V2O5 are summarized in
the following table.
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2009 DIAMOND DRILLING
PROGRAM - LAKE DORE NORTH
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|
SIGNIFICANT ASSAY
RESULTS
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Calculated weighted
grade with interval value greater than 0.25% V2O5
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DDH NU
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FROM (m)
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TO (m)
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LENGTH (m)
|
Fe2O3
(%)
|
TIO2 (%)
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V (%)
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V2O5
(%)
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LDN-09-01
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2.62
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3.27
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0.65
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29.25
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5.59
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0.230
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0.411
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LDN-09-01
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7.75
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12.52
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4.77
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30.66
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5.78
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0.235
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0.419
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LDN-09-01
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15.12
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19.10
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3.98
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21.36
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3.77
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0.153
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0.273
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LDN-09-01
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20.60
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27.35
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6.75
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24.86
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3.85
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0.164
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0.293
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LDN-09-01
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33.96
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36.60
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2.64
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28.27
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3.92
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0.160
|
0.286
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LDN-09-01
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39.12
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39.83
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0.71
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43.43
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7.54
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0.280
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0.500
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LDN-09-01
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47.40
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48.02
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0.62
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41.93
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6.35
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0.240
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0.428
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LDN-09-01
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50.61
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51.68
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1.07
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54.88
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9.60
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0.360
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0.643
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LDN-09-01
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53.65
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60.62
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6.97
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35.08
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5.70
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0.229
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0.409
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LDN-09-01
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66.25
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67.25
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1.00
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30.73
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5.00
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0.200
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0.357
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LDN-09-01
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70.70
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75.98
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5.28
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39.23
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6.27
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0.255
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0.456
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LDN-09-01
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78.04
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79.60
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1.56
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43.20
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7.48
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0.290
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0.518
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LDN-09-01
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80.49
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85.88
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5.39
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35.28
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5.80
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0.226
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0.403
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LDN-09-01
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86.50
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94.87
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8.37
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30.19
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4.97
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0.196
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0.349
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LDN-09-01
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95.76
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97.11
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1.35
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29.10
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4.63
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0.180
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0.321
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LDN-09-02
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72.37
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76.29
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3.92
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28.79
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7.49
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0.143
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0.255
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LDN-09-02
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97.85
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98.85
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1.00
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26.72
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6.53
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0.195
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0.348
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LDN-09-03
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63.90
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64.35
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0.45
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45.06
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11.32
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0.150
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0.268
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LDN-09-03
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66.35
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67.98
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1.63
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48.96
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13.08
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0.140
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0.250
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LDN-09-03
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73.83
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78.29
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4.46
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29.54
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5.14
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0.146
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0.262
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LDN-09-04
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10.17
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14.41
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4.24
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30.49
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5.07
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0.168
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0.301
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LDN-09-04
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31.80
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38.15
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6.35
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29.40
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4.64
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0.193
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0.345
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LDN-09-04
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39.65
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43.17
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3.52
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24.14
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4.14
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0.153
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0.274
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LDN-09-04
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47.54
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49.25
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1.71
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26.75
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4.29
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0.160
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0.286
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LDN-09-04
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53.61
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57.41
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3.80
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30.49
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5.01
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0.166
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0.296
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LDN-09-04
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65.10
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65.89
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0.79
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42.39
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6.63
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0.260
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0.464
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LDN-09-04
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67.15
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68.33
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1.18
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31.03
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4.40
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0.180
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0.321
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LDN-09-06
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5.47
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9.72
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4.25
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41.02
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6.34
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0.262
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0.468
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LDN-09-06
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10.62
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12.15
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1.53
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29.61
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4.54
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0.190
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0.339
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LDN-09-06
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13.04
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14.61
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1.57
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32.84
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5.26
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0.210
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0.375
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LDN-09-06
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18.55
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20.27
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1.72
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31.61
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5.19
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0.200
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0.357
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LDN-09-06
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24.63
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25.83
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1.20
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35.46
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5.64
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0.220
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0.393
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LDN-09-06
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36.00
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36.60
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0.60
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26.55
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3.38
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0.160
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0.286
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LDN-09-06
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50.30
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52.75
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2.45
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22.95
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3.76
|
0.159
|
0.285
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LDN-09-06
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65.20
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65.70
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0.50
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37.14
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5.22
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0.250
|
0.446
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LDN-09-06
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66.90
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68.15
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1.25
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38.50
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3.83
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0.180
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0.321
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LDN-09-06
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69.45
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70.75
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1.30
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34.39
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3.36
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0.150
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0.268
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It is noted
that McKenzie Bay's historic hole MKB-01-01 and Apella's recent holes
LDN-09-01 and LDN-09-06 have been bored on the same line, in a NW
direction. Mineralization intersected by the three holes covers a
horizontal width of about 160 m. Semi to massive oxide mineralized
zones dip at 70 to 90 degrees. Apella's hole LDN-09-02 was set up at
100 m between holes MKB-01-01 and MKB-01-02 in order to intersect the
extension to the SW of the oxide mineralization found previously. Apella's
diamond drill hole LDN-09-02 confirmed the presence of two
mineralized zones, 3.92m and 1.00m thick respectively. Apella's holes
LDN-09-03 and LDN-09-04 were bored on the same line with the target
to intersect at depth the NE extension of the mineralization
un-covered by the 2008 stripping. They intersected respectively 3 and
7 mineralized layers representing a horizontal width of about 80 m.
Following the
diamond drilling program, Apella carried out a detailed geological
mapping and a systematicchannel sampling program mainly on the two
large stripped areas cleared by Apella in the fall of 2008 (see news
release dated October 30th, 2008).
The following
table summarizes all calculated weighted grade of assay results for
Fe2O3, TiO2, V and V2O5
obtained from the 2008 and 2009 channel sampling program. The 2009
trenching program was carried out simultaneously with the 2009
diamond drilling program from July through September, 2009.
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2008 & 2009 CHANNEL
SAMPLING PROGRAMS - LAKE DORE NORTH
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Calculated weighted
grade with interval value greater than 0.25% V2O5
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CHANNEL NUMBER
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LENGTH (m)
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Fe2O3
(%)
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TIO2 (%)
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V (%)
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V2O5
(%)
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V-2A
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2.00
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49.65
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11.33
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0.57
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1.01
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V-2B
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4.10
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54.55
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11.01
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0.54
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0.96
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V-7
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0.80
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46.80
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10.25
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0.54
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0.96
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V-16B
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1.00
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52.55
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9.11
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0.45
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0.80
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V-9
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2.00
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38.70
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8.16
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0.42
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0.74
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V-1A
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2.00
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35.25
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8.81
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0.40
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0.71
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V-3C
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0.50
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34.80
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7.72
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0.39
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0.70
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V-14
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4.70
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49.58
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8.01
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0.38
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0.69
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V-1B
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3.50
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34.60
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7.92
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0.38
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0.68
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V-18A
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1.50
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48.51
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6.98
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0.38
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0.68
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V-13B
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2.30
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45.46
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7.68
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0.35
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0.63
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V-4A
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2.00
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32.10
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6.79
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0.36
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0.63
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V-19
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5.00
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42.27
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7.31
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0.35
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0.62
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V-13A
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2.00
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42.95
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7.30
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0.34
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0.60
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V-6A
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3.50
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31.53
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6.84
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0.34
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0.60
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V-4B
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1.50
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30.40
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6.34
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0.32
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0.58
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V-5
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1.00
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29.20
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6.32
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0.32
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0.57
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V-10
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5.00
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41.38
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6.72
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0.32
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0.56
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V-2C
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2.00
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31.59
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7.02
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0.31
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0.56
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V-16A
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6.00
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35.83
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5.95
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0.28
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0.50
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V-12
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7.00
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36.30
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5.77
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0.27
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0.48
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V-11
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7.00
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36.11
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5.35
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0.26
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0.47
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V-3B
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2.00
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23.23
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4.96
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0.24
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0.44
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V-17
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12.00
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31.92
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4.79
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0.24
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0.43
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V-10A
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3.60
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33.41
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5.11
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0.23
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0.41
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V-6
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21.00
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30.41
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4.88
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0.22
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0.40
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V-6B
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2.00
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20.53
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4.29
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0.20
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0.36
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V-8A
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2.00
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20.55
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4.08
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0.20
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0.35
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V-15
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3.00
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25.95
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4.11
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0.18
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0.32
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V-3A
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1.00
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24.10
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4.26
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0.18
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0.32
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V-10B
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4.20
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28.06
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3.85
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0.17
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0.31
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V-8B
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2.00
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15.63
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3.07
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0.15
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0.26
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Assay
Method and Quality Control
A total of 247
drill core samples were collected and sawn in half for
sampling. One half was sent for assay and the other half
retained for future reference. A total of 86 channel samples were
collected from the Lake Dore North stripping areas by Apella's
personnel during the 2009 channel sampling program conducted in
August and September. All samples were properly tagged, sealed in the
field, and stored in Apella's core shack facilities at Chibougamau. Following
standard preparation at Table jam�sienne de concertation mini�re
at Chibougamau, all pulps were sent to ALS-Chemex, Val d'Or, Quebec,
a commercial laboratory with ISO 9001:2000 certification. The QA/QC
program included blanks insert for each batch of samples.
All samples
were assayed for major elements including total iron and titanium
dioxide by lithium borate fusion to dissolve resistive minerals
followed by X-Ray fluorescence spectrometry (ME-XRF06 package). Vanadium
content was also determined by X-ray fluorescence using ore grade
procedures (V-XRF10)
To convert from
vanadium to vanadium pentoxide (V2O5) as used
by the industry, assay results for vanadium have to be multiply by a
factor of 1.785.
The qualified person for the purposes of
this news release is Mr. Roger Moar, Consulting Geologist, P.Geo and
is a Qualified Person under National Instrument 43-101 guidelines.
N:\PRECS\MI FORMS
- Form 51-102F3 Material Change Report (mj March 2004)
Apella invites the public to visit its 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, ICD.D - Chairman
S.E.C.
Exemption 12(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
|