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Avalon Advanced Materials Inc T.AVL

Alternate Symbol(s):  AVLNF

Avalon Advanced Materials Inc. is a Canadian-advanced manufacturing company focused on vertically integrating the Ontario lithium supply chain. Its Lake Superior Lithium Project is in the City of Thunder Bay, Ontario. Lake Superior Lithium Project is located between northern Ontario’s lithium deposits and southern EV battery plants. Through its joint venture with SCR-Sibelco NV, it is developing its Separation Rapids lithium deposit near Kenora, ON, while also continuing to advance the Snowbank lithium and Lilypad lithium-caesium projects. It is also working to develop its Nechalacho rare earths and zirconium project located in the Northwest Territories. This deposit contains critical minerals for use in advanced technologies in the communications and defense industries, among other sectors. Its East Kemptville Tin-Indium Project is located 55 kilometers northeast of Yarmouth, Nova Scotia, Canada. Nechalacho Rare Earth Elements Project is located at Thor Lake, Northwest Territories.


TSX:AVL - Post by User

Post by BLEROUXon Feb 22, 2001 1:16pm
212 Views
Post# 3368239

THUNDER BAY NEWSPAPER

THUNDER BAY NEWSPAPER IMPRESSIVE!!AFTER READING FINANCIALS OF BOTH STARCORE AND AVALON DON'T UNDERSTAND WHY NOT A MERGER! THIS WOULD FORM A BIGGER CORPERATION. LOVE WHEN JOBS ARE CREATED!!!! TOP STORY Search News Archive Place Dome jumps in By Bryan Meadows - The Chronicle-Journal February 22, 2001 Mining industry giant Placer Dome has joined the search for rare minerals north of Thunder Bay. Avalon Ventures Ltd. and Starcore Resources Ltd. announced yesterday a joint-venture agreement with Placer Dome to explore the companies' Legris Lake platinum/palladium property about 75 kilometres north of Thunder Bay. "We are very excited at having the opportunity to form a partnership for our rare metals and precious metals projects with a well-respected, senior mining company such as Placer Dome," Avalon president Donald Bubar said yesterday. "It sort of gives us instant credibility for the projects we've been involved in," he said, noting that with Placer Dome's proven mine development expertise, "we expect to be able to rapidly push our advanced projects through feasibility to production, while also expanding our exploration efforts and creating new mineral development opportunities for both companies." Under the agreement, which is still subject to regulatory approval, Placer Dome will have a right to earn a 50-per-cent interest in the Legris Lake property by spending $4 million on exploration work over the next four years. Placer Dome can increase its interest to 60 per cent upon delivery of a bankable feasibility study, Bubar said. Results of exploration work last year on the Legris Lake property showed significant palladium, platinum, copper and nickel mineralization. It is located just south of North American Palladium's Lac Des Iles Mine. A $140-million expansion under way there has created about 250 full-time jobs. Beginning this summer the mine's production will increase to 15,000 tonnes of palladium per day, from its current production of about 2,400 tonnes. The mine is also the world's largest producer of platinum metals. Demand for palladium — which is used in catalytic converters to regulate car and truck emissions — has skyrocketed as developing countries work to limit exhaust emissions. Bubar noted that the Placer Dome alliance also bodes well for its other mining properties, including the Big Whopper petalite deposit north of Kenora. While "Placer hasn't made any firm commitments," Bubar said "they see it as an interesting project." "They plan to do their homework and take a look at it," he said. Placer Dome has also agreed to invest $980,000 in Avalon to help the company with new project development and operating expenses. It has also agreed to provide project management, engineering services and assistance in obtaining project financing for the company's advanced projects. Meanwhile, Avalon continues to explore financing options for a $5-million bulk sampling of its Big Whopper petalite discovery at Separation Rapids about 60 kilometres north of Kenora. Petalite is a rare mineral used in the manufacture of ceramics and heat-resistant glass construction. Company officials said the bulk sampling project will give the company the data required for a "final feasibility study" into opening an open pit mine on the 842-acre property. The Big Whopper deposit also contains contains tantalum, a rare metallic element used primarly in the electronics industry. -------------------------------------------------------------------------------- Comments on this story: Tell us what you think about this story. Enter Freezone.com! Circulation | Readership Promotions Copyright © 2000 The Chronicle TOP STORIES Search News Archive Place Dome jumps in By Bryan Meadows - The Chronicle-Journal February 22, 2001 Mining industry giant Placer Dome has joined the search for rare minerals north of Thunder Bay. Avalon Ventures Ltd. and Starcore Resources Ltd. announced yesterday a joint-venture agreement with Placer Dome to explore the companies' Legris Lake platinum/palladium property about 75 kilometres north of Thunder Bay. "We are very excited at having the opportunity to form a partnership for our rare metals and precious metals projects with a well-respected, senior mining company such as Placer Dome," Avalon president Donald Bubar said yesterday. "It sort of gives us instant credibility for the projects we've been involved in," he said, noting that with Placer Dome's proven mine development expertise, "we expect to be able to rapidly push our advanced projects through feasibility to production, while also expanding our exploration efforts and creating new mineral development opportunities for both companies." Under the agreement, which is still subject to regulatory approval, Placer Dome will have a right to earn a 50-per-cent interest in the Legris Lake property by spending $4 million on exploration work over the next four years. Placer Dome can increase its interest to 60 per cent upon delivery of a bankable feasibility study, Bubar said. Results of exploration work last year on the Legris Lake property showed significant palladium, platinum, copper and nickel mineralization. It is located just south of North American Palladium's Lac Des Iles Mine. A $140-million expansion under way there has created about 250 full-time jobs. Beginning this summer the mine's production will increase to 15,000 tonnes of palladium per day, from its current production of about 2,400 tonnes. The mine is also the world's largest producer of platinum metals. Demand for palladium — which is used in catalytic converters to regulate car and truck emissions — has skyrocketed as developing countries work to limit exhaust emissions. Bubar noted that the Placer Dome alliance also bodes well for its other mining properties, including the Big Whopper petalite deposit north of Kenora. While "Placer hasn't made any firm commitments," Bubar said "they see it as an interesting project." "They plan to do their homework and take a look at it," he said. Placer Dome has also agreed to invest $980,000 in Avalon to help the company with new project development and operating expenses. It has also agreed to provide project management, engineering services and assistance in obtaining project financing for the company's advanced projects. Meanwhile, Avalon continues to explore financing options for a $5-million bulk sampling of its Big Whopper petalite discovery at Separation Rapids about 60 kilometres north of Kenora. Petalite is a rare mineral used in the manufacture of ceramics and heat-resistant glass construction. Company officials said the bulk sampling project will give the company the data required for a "final feasibility study" into opening an open pit mine on the 842-acre property. The Big Whopper deposit also contains contains tantalum, a rare metallic element used primarly in the electronics industry. -------------------------------------------------------------------------------- Comments on this story: Tell us what you think about this story. Enter Freezone.com! Circulation | Readership Promotions Copyright © 2000 The Chronicle TOP STORIES Search News Archive Place Dome jumps in By Bryan Meadows - The Chronicle-Journal February 22, 2001 Mining industry giant Placer Dome has joined the search for rare minerals north of Thunder Bay. Avalon Ventures Ltd. and Starcore Resources Ltd. announced yesterday a joint-venture agreement with Placer Dome to explore the companies' Legris Lake platinum/palladium property about 75 kilometres north of Thunder Bay. "We are very excited at having the opportunity to form a partnership for our rare metals and precious metals projects with a well-respected, senior mining company such as Placer Dome," Avalon president Donald Bubar said yesterday. "It sort of gives us instant credibility for the projects we've been involved in," he said, noting that with Placer Dome's proven mine development expertise, "we expect to be able to rapidly push our advanced projects through feasibility to production, while also expanding our exploration efforts and creating new mineral development opportunities for both companies." Under the agreement, which is still subject to regulatory approval, Placer Dome will have a right to earn a 50-per-cent interest in the Legris Lake property by spending $4 million on exploration work over the next four years. Placer Dome can increase its interest to 60 per cent upon delivery of a bankable feasibility study, Bubar said. Results of exploration work last year on the Legris Lake property showed significant palladium, platinum, copper and nickel mineralization. It is located just south of North American Palladium's Lac Des Iles Mine. A $140-million expansion under way there has created about 250 full-time jobs. Beginning this summer the mine's production will increase to 15,000 tonnes of palladium per day, from its current production of about 2,400 tonnes. The mine is also the world's largest producer of platinum metals. Demand for palladium — which is used in catalytic converters to regulate car and truck emissions — has skyrocketed as developing countries work to limit exhaust emissions. Bubar noted that the Placer Dome alliance also bodes well for its other mining properties, including the Big Whopper petalite deposit north of Kenora. While "Placer hasn't made any firm commitments," Bubar said "they see it as an interesting project." "They plan to do their homework and take a look at it," he said. Placer Dome has also agreed to invest $980,000 in Avalon to help the company with new project development and operating expenses. It has also agreed to provide project management, engineering services and assistance in obtaining project financing for the company's advanced projects. Meanwhile, Avalon continues to explore financing options for a $5-million bulk sampling of its Big Whopper petalite discovery at Separation Rapids about 60 kilometres north of Kenora. Petalite is a rare mineral used in the manufacture of ceramics and heat-resistant glass construction. Company officials said the bulk sampling project will give the company the data required for a "final feasibility study" into opening an open pit mine on the 842-acre property. The Big Whopper deposit also contains contains tantalum, a rare metallic element used primarly in the electronics industry. -------------------------------------------------------------------------------- Comments on this story: Tell us what you think about this story. Enter Freezone.com! Circulation | Readership Promotions Copyright © 2000 The Chronicle
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