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Avalon Reports Resource Estimate for East Kemptville Tin-Zinc-Copper-Indium Deposit, Nova Scotia, Canada
Toronto, Ontario--(Newsfile Corp. - October 31, 2014) - Avalon Rare Metals Inc. (TSX: AVL)...
About this update from Avalon Advanced Materials Inc.
[{"type":"text","content":"Avalon Reports Resource Estimate for East Kemptville Tin-Zinc-Copper-Indium Deposit, Nova Scotia, CanadaToronto, Ontario--(Newsfile Corp. - October 31, 2014) - Avalon Rare Metals Inc. (TSX: AVL) (NYSE MKT: AVL) (\"Avalon\" or the \"Company\") is pleased to report the \nresults of its first National Instrument 43-101 (\"NI 43-101\") resource estimate \nfor the East Kemptville tin-zinc-copper-indium deposit in Yarmouth County, Nova \nScotia. The resource was prepared following a 7-hole confirmation drilling \nprogram completed at the site this summer to validate historical resource \nestimates and verify the estimates as current NI 43-101 mineral resource \nestimates.\nThe estimated Indicated Mineral Resources are 18.47 million \ntonnes averaging 0.176% tin, 0.173% zinc and 0.064% copper and the estimated \nInferred Mineral Resources are 16.95 million tonnes averaging 0.148% tin, 0.122% \nzinc and 0.062% copper at a 0.10% tin cutoff grade, as more fully detailed in \nTable 1 below.\nThis resource estimate will be used to complete a Preliminary \nEconomic Assessment (\"PEA\") to confirm the business case for proceeding with a \ncomprehensive Feasibility Study to evaluate the potential for re-starting \ntin-zinc-copper and potentially indium production at East Kemptville. The PEA \nwill be prepared by Hains Engineering Company Limited of Toronto (\"Hains \nEngineering\") and is targeted for completion by the end of this calendar year. \n\nNote that the tonnages reported do not include any of the ore \npreviously mined and processed or stockpiled on surface at East Kemptville, and \nare purely an estimation of the mineral resources that remained in the ground \nafter mining activities at site ceased in 1992. The resources include material \nfrom both of the zones mined historically (the Main and Baby Zones) but do not \ninclude resources from any of the other undeveloped mineral occurrences known in \nthe immediate area. \nThe mineral resource estimate was prepared by Hains Engineering \nwith its principal, Donald Hains (P. Geo), serving as the independent Qualified \nPerson (\"QP\") for the purpose of NI 43-101. The overall direction for the \ntechnical work program was provided by the Company's Vice-President, \nExploration, William Mercer, Ph.D., P. Geo. (Nova Scotia). Drilling operations \nwere performed by a Nova Scotia based dr...