Apella says China trade delegation a success, finishes analysis at Lac Dore
Apella Resources (CVE:APA) reported Thursday that its recent visit to China during a trade delegation has proven to be "fruitful" as the company finished its analysis of historic data regarding its Lac Dore Vanadium deposit, in Quebec.
The mineral explorer met with key Chinese businesses in Beijing, Shanghai and Shenyang. Aside from Quebec's trade delegation, Apella set up many of its own meetings through key Chinese contacts the company had developed in-house.
The trade delegation to China had been led by Jean Charest, Premier of Quebec.
During the stay, Apella was able to present the merits and key attributes of its Lac Dore and Iron-T Vanadium-Iron-Titanium projects to senior management teams of many of China's leading steel producers, vanadium producers and distribution channel participants.
In a statement, the company said: "China's immense appetite for the minerals contained in Apella's deposits was quite obvious. It was quite clear that Chinese entities consider Apella's projects as premium and very attractive when compared to the lower grade domestic deposits currently mined in China."
"Discussions with regard to co-operation and participation in Apella's Lac Dore and Iron-T projects were both forthcoming and abundant," Apella added.
Apella has been invited back to China in November.
In other corporate news, since being awarded the Lac Dore claims in March this year, Apella said it has finished its analysis of historic drilling and development from a feasibility study carried out in 2002-2003 by SNC-Lavalin (TSE:SNC).
After extensive reviews of historic drill hole data, Apella has identified all of its category one drill targets for its phase one drilling and development for the Lac Dore Vanadium-Iron-Titanium deposit.
With the Lac Dore claims officially registered in Apella's name, the company is now adding the Lac Dore Vanadium-Iron-Titanium project to its near-term drill and develop plans.
Apella said phase one exploration will focus on diamond drilling to confirm the known Lac Dore deposit as a NI 43-101 compliant resource.
The Lac Dore complex, situated 250 kilometres east of Matagami in the Chibougamau mining camp, is a Bushveld-type archean layered mafic intrusion. It consists of 42 adjacent mineral claims covering an area of 1,607 acres.
Apella, which owns potentially the largest vanadium assets in North America, and perhaps the largest combined resource of vanadium in the world, develops vanadium-iron-titanium deposits.
Vanadium is an essential element in high-quality steel and also has applications in energy storage and green technology.
The Vancouver-based company's stock rose 2 cents, or 13.04%, to 13 cents a share Thursday afternoon on the Toronto Stock Exchange's junior venture market.
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