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Avalon Announces a Substantive 20% Increase in Deposit Size at Its Flagship Separation Rapids Joint-Venture Lithium Project
Toronto, Ontario--(Newsfile Corp. - August 10, 2023) - Consistent with its dual-market strategy t...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Announces a Substantive 20% Increase in Deposit Size at Its Flagship Separation Rapids Joint-Venture Lithium ProjectToronto, Ontario--(Newsfile Corp. - August 10, 2023) - Consistent with its dual-market strategy to supply both the global glass-ceramics market and North American EV battery manufacturing, Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) (\"Avalon\" or the \"Company\") is pleased to announce an updated Mineral Resource Estimate (\"MRE\") for the Avalon-Sibelco joint venture lithium deposit at Separation Rapids. This updated MRE, compliant with NI 43-101, reports 10.08 million tonnes (Mt) averaging 1.35% of Measured and Indicated Lithium Oxide (\"Li2O\"), a 20% increase compared to previous results. Separation Rapids MRE Highlights: Open Pit with a Measured and Indicated category of 9.39 Mt averaging 1.34% Li2O with the start of an underground resource of 0.68 Mt averaging 1.43% Li2O10.08 Mt averaging 1.35% Li2O in Measured and Indicated, a 20% increase in size as compared to 2018 results2.81 Mt averaging 1.38% Li2O in the Inferred category, a 57% increase in size as compared to 2018 results136,000 tonnes of Li2O in Measured and Indicated, a 15% increase in size as compared to 2018 results39,000 tonnes Li2O in the Inferred category, a 60% increase in size as compared to 2018 resultsExploration Potential of an additional 3 Mt to 6 Mt of resource, grading between 1.0% and 1.4% Li2O which could relate to an increase in Li2O by 30,000 to 80,000 tonnes. Note: This potential additional quantity and grade are conceptual in nature. There has been insufficient exploration to define this additional mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The basis for this exploration potential has been determined using the same methodology as for the MRE. Located near Kenora, ON, the Separation Rapids deposit is owned by the recently announced joint venture between Avalon and SCR-Sibelco NV (\"Sibelco\"), an Antwerp-based company and leader in the global glass-ceramics and materials solutions business, with projects in over 30 countries. \"This updated estimate reveals the quality and quantity of the resource at Separation Rapids, and underscores the rationale for the strategic partnership between Avalon and Sibelco. It confirms that the depo...