Avalon Advanced Materials (TSX: AVL | OTCQB: AVLNF) announced an updated mineral resource estimate (MRE) for its Avalon-Sibelco joint venture lithium deposit at Separation Rapids. The updated MRE reports 10.08Mt averaging 1.35% of measured and indicated lithium oxide, a 20% increase compared to previous results.
“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 deposit can deliver sufficient volumes of commercial-grade feedstock suitable for both the glass ceramics and lithium battery markets,” said Avalon CEO, Scott Monteith.
“This data gives Avalon and Sibelco the confidence to pursue the next phase of development at Separation Rapids, finalizing a definitive feasibility study and moving towards production.”
The Separation Rapids MRE highlights included an open pit with a measured and indicated category of 9.39Mt averaging 1.34% lithium oxide with the start of an underground resource of 680Kt averaging 1.43% lithium oxide, and a total of 10.08Mt averaging 1.35% lithium oxide in measured and indicated, a 20% increase in size as compared to 2018 results.
The inferred category has also increased by 57% in size as compared to 2018 results, with 2.8Mt averaging 1.38% lithium oxide.
The report also notes an exploration potential of an additional 3.0Mt to 6.0Mt of resource, grading between 1.0 and 1.4% Li2O which could relate to an increase in lithium oxide by 30Kt to 80Kt.
Located near Kenora, Ontario, the Separation Rapids deposit is owned by the recently announced joint venture between Avalon and SCR-Sibelco NV, an Antwerp-based company.
For further information, please visit: www.avalonadvancedmaterials.com
To read more articles like this, please visit: www.theassay.com
