Avalon provides progress report on Nechalacho Rare Earths Project, Yellowknife, NWT
10 October 2018
Avalon Advanced Materials Inc.is pleased to provide a progress report on its 100% owned Nechalacho Rare Earths Project near Yellowknife, Northwest Territories, since announcing the re-activation of the Project on May 15, 2018. Concerns about security of supply of these critical elements are growing, as the trade dispute between China and the United States escalates. China still controls over 90% of global primary rare earth supply and investors well remember when China restricted rare earths exports in 2010 over a territorial dispute in the South China Sea.
Over the past four months, Avalon has successfully renewed its Land Use Permit and completed the perimeter survey of several contiguous mineral claims in order to bring them to lease. The lease application has been submitted and approval is expected by late October. Avalon completed a field program in September to conduct additional sampling in the area of the T-Zone and Tardiff Lakes Zones to begin assessing their potential as sources of neodymium and praseodymium (“Nd-Pr”) rich concentrates currently in high demand for magnet applications. Sampling was also done in the T-Zone to begin assessing the resource potential of widespread lithium mineralization occurring as the lithium mica polylithionite. Lastly, work continued on the independent scoping study on the East Arm-Yellowknife Road and hydro power infrastructure corridor.