Historic Resources
Resource Snapshot
The following historic resources were not estimated in accordance with definitions and practices established for the estimation of Mineral Resources and Mineral Reserves by the Canadian Institute of Mining and Metallurgy (“CIM”). As such, the historical resources are not compliant with Canada’s security rule National Instrument 43-101 (“NI 43-101”), and unreliable for investment decisions. Neither Appia nor its Qualified Persons have done sufficient work to classify the historical resources as current mineral resources, except where noted for Teasdale Lake and Banana Lake Zones. Nevertheless, most of the historic resources were estimated by mining companies active in the Elliot Lake area using assumptions, methods and practices that were accepted at the time, and based on corroborative mining experience.
| Teasdale Lake Zone | |
| True Vertical Depth Range to Top of Ore Zone | 48.8 m to 626.9 m |
| Thickness | 1.5 m average 0.6 m to 2.9 m range |
| Overall Size | 17,458,200 tons of rock |
| U3O8 Size | 20,787,200 lbs U3O8 |
| Grade U3O8 | 1.206 lbs U3O8/short ton 0.060 wt% U3O8 |
| Banana Lake Zone | |
| True Vertical Depth Range to Top of Ore Zone | 1,433.0 m to 1,581.0 m |
| Thickness | 5.4 m average 3.4 m to 13.4 m range |
| Overall Size | 175,800,000 tons of rock |
| U3O8 Size | 133,608,000 lbs U3O8 |
| Grade U3O8 | 0.760 lbs U3O8/short ton 0.038 wt% U3O8 |
| Gemico Block #3 (Buckles Zone) | |
| True Vertical Depth Range to Top of Ore Zone | 1,118.0 m |
| Thickness | 28.5 m average |
| Overall Size | 42,800,000 tons of rock |
| U3O8 Size | 16,264,000 lbs U3O8 |
| Grade U3O8 | 0.380 lbs U3O8/short ton 0.019 wt% U3O8 |
| Gemico Block #10 (Bouck Zone) | |
| Thickness | 3.0 m average 2.1 m to 4.7 m range |
| Overall Size | 20,700,000 tons of rock |
| U3O8 Size | 15,525,000 lbs U3O8 |
| Grade U3O8 | 0.750 lbs U3O8/short ton 0.0375 wt% U3O8 |
| Canuc Zone | |
| Thickness | 1.4 m average |
| Overall Size | 7,000,000 tons of rock |
| U3O8 Size | 13,020,000 lbs U3O8 |
| Grade U3O8 | 1.860 lbs U3O8/short ton 0.093 wt% U3O8 |