Avalon Advanced Materials Further Intersects 1.54% Li2O over 136.95 meters at Big Whopper Deposit, Separation Rapids JV
Avalon Advanced Materials Further Intersects
1.54% Li2O over 136.95 meters at Big Whopper
Deposit, Separation Rapids JV
Toronto, Ontario--(Newsfile Corp. - August 19, 2024) -
Avalon Advanced Materials Inc.
(TSX: AVL)
(OTCQB: AVLNF) ("Avalon" or the "Company")
, in conjunction with its Joint-Venture
("JV") partner
SCR-Sibelco NV ("
Sibelco
"), is pleased to report the second and final batch of drill results for the 2024
winter drill campaign (which totaled 10 holes) from the Separation Rapids Project in Kenora, Ontario (the
"Project"). See Figure 1. The 2024 winter drill campaign was conducted by the Joint Venture Company
Separation Rapids Ltd., which is 60% owned by Sibelco and 40% owned by Avalon.
The results represent 199 assay results from 5 diamond drill holes completed as part of the 2024
expansion and infill drill campaign at the current 750m strike length Big Whopper Deposit (See Figure
2). The drill program was intended to upgrade the 2023 Mineral Resource Estimation classification as
well as to expand the mineral resources.
Drill Highlights includes from Big Whopper Deposit:
SR24-121 intersected
1.54% Li2O over 136.95
meters from 321.00m
including 2.28% Li2O over 4.00 meters from 421.00m
SR24-119 intersected
1.87% Li2O over 17.15
meters from 284.40m
SR24-120 intersected 1.60% Li2O over 12.80 meters from 66.15m
All quoted intersections comprise a cutoff grade of 0.5% Li2O. All significant assay intervals with true
widths are reported in Table 1.
Scott Monteith, CEO and Director, commented, "These exceptional results taken over very long intervals
are a clear indication of the highly efficient drilling program by our JV Partner Sibelco. Another long,
massive intercept on Hole SR24-121 will be key to growing the mineral resource base. What is
exceptionally exciting is the depth potential, with hole SR24-121 effectively intersecting 136.95m
mineralization from 321m downhole.
This hole supports our belief that we have barely begun to uncover the potential of lithium resources at
the Separation Rapids deposit. With our objectives for the 2024 winter drilling campaign accomplished,
we look forward to the upcoming Mineral Resource Estimate."
The results from the second batch of the 2024 drill campaign continues to identify mineralization below
the current resource pit shell with drill hole SR24-121 intersecting values ≥0.5% Li2O over a 136-meter
interval, opening the main zone at depth. See Figure 3. Eastern drilling shows promise of possible
extension to the current resource boundaries. See Figure 4.
An updated Mineral Resource Estimate (MRE) is planned for Q3 of 2024 which will include results of the
2024 winter drill campaign. Total drill meterage will increase from 18,500 meters of drilling to 26,241
meters.
A property wide mapping and sampling program was completed in late July 2024 with a focus on
satellite targets and areas of limited geological data for further evaluation of the promising potential on
the property. This mapping program covered approximately 5 kilometers along strike and is currently
being modelled and interpreted for further evaluation.
Figure 1:
- Location of Separation Rapids Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3386/220265_2a6c2b5ee4af3907_001full.jpg
Figure 2:
Big Whopper Deposit with current released hole locations highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3386/220265_2a6c2b5ee4af3907_002full.jpg
Figure 3:
Long Section of the Big Whopper (View NNE). Current release drill traces in blue.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3386/220265_2a6c2b5ee4af3907_003full.jpg
Four drill holes returned significant drill intercepts greater >/=0.5% Li2O.
Figure 4:
Vertical Cross section showing SR24-121 with high grade mineralization below the current
conceptual pit widening the 2023 thickness of the modelled pegmatites.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3386/220265_2a6c2b5ee4af3907_004full.jpg
Table 1
: Significant drill intersection
ID
Az.
Dip
From
(m)
To
(m)
Interval (m)
True Width (m)
Li2O%
Intercept
SR24-118
180
-62
90.00
92.00
2.00
1.77
1.32
1.32 Li2O% over 2.00m
101.65
102.05
0.40
0.35
1.84
1.84 Li2O% over 0.40m
103.30
103.70
0.40
0.35
2.22
2.22 Li2O% over 0.40m
104.10
104.45
0.35
0.31
2.53
2.53 Li2O% over 0.35m
SR24-119
190
-78
167.50
172.00
4.50
4.40
2.25
2.25 Li2O% over 4.50m
178.50
183.55
5.05
4.94
2.42
2.42 Li2O% over 5.05m
including
180.00
182.00
2.00
1.96
3.31
3.31 Li2O% over 2.00 m
227.50
228.40
0.90
0.88
1.55
1.55 Li2O% over 0.90m
241.60
243.40
1.80
1.76
0.91
0.91 Li2O% over 1.80m
267.20
268.95
1.75
1.71
2.23
2.23 Li2O% over 1.75m
269.25
270.00
0.75
0.73
1.36
1.36 Li2O% over 0.75m
270.50
271.55
1.05
1.03
1.55
1.55 Li2O% over 1.05m
272.00
274.60
2.60
2.54
1.57
1.57 Li2O% over 2.60m
273.00
274.60
1.60
1.57
1.40
1.4 Li2O% over 1.60m
280.10
282.45
2.35
2.30
1.82
1.82 Li2O% over 2.35m
281.00
282.45
1.45
1.42
1.85
1.85 Li2O% over 1.45m
284.40
301.55
17.15
16.78
1.87
1.87 Li2O% over 17.15m
including
292.00
293.00
1.00
0.98
2.66
2.66 Li2O% over 1.00m
SR24-120
178
-56
66.15
78.95
12.80
10.61
1.60
1.6 Li2O% over 12.80m
79.80
80.60
0.80
0.66
1.71
1.71 Li2O% over 0.80m
80.90
82.15
1.25
1.04
1.85
1.85 Li2O% over 1.25m
82.95
84.15
1.20
0.99
1.25
1.25 Li2O% over 1.20m
87.65
88.35
0.70
0.58
1.44
1.44 Li2O% over 0.70m
89.60
96.35
6.75
5.60
1.71
1.71 Li2O% over 6.75m
96.90
97.50
0.60
0.50
1.36
1.36 Li2O% over 0.60m
100.50
100.95
0.45
0.37
2.08
2.08 Li2O% over 0.45m
101.75
103.45
1.70
1.41
1.18
1.18 Li2O% over 1.70m
133.80
135.20
1.40
1.16
2.03
2.03 Li2O% over 1.40m
135.80
136.15
0.35
0.29
2.00
2 Li2O% over 0.35m
138.75
139.80
1.05
0.87
1.59
1.59 Li2O% over 1.05m
175.90
176.20
0.30
0.25
1.40
1.4 Li2O% over 0.30m
211.50
213.45
1.95
1.62
1.62
1.62 Li2O% over 1.95m
218.50
218.80
0.30
0.25
1.58
1.58 Li2O% over 0.30m
SR24-121
186
-78
246.30
248.00
1.70
1.66
1.79
1.79 Li2O% over 1.70m
251.25
251.90
0.65
0.64
1.91
1.91 Li2O% over 0.65m
254.40
254.85
0.45
0.44
1.09
1.09 Li2O% over 0.45m
260.90
262.75
1.85
1.81
1.88
1.88 Li2O% over 1.85m
265.25
265.90
0.65
0.64
2.29
2.29 Li2O% over 0.65m
266.85
269.75
2.90
2.84
1.79
1.79 Li2O% over 2.90m
268.00
269.75
1.75
1.71
1.94
1.94 Li2O% over 1.75m
270.15
270.55
0.40
0.39
1.60
1.6 Li2O% over 0.40m
272.00
275.05
3.05
2.98
1.96
1.96 Li2O% over 3.05m
274.00
275.05
1.05
1.03
1.89
1.89 Li2O% over 1.05m
279.00
282.25
3.25
3.18
1.86
1.86 Li2O% over 3.25m
283.45
284.25
0.80
0.78
1.08
1.08 Li2O% over 0.80m
285.35
288.30
2.95
2.89
1.65
1.65 Li2O% over 2.95m
289.65
294.90
5.25
5.14
1.52
1.52 Li2O% over 5.25m
293.00
295.65
2.65
2.59
2.11
2.11 Li2O% over 2.65m
296.25
298.60
2.35
2.30
1.65
1.65 Li2O% over 2.35m
299.95
301.25
1.30
1.27
1.88
1.88 Li2O% over 1.30m
301.70
304.35
2.65
2.59
2.43
2.43 Li2O% over 2.65m
306.00
306.55
0.55
0.54
2.11
2.11 Li2O% over 0.55m
306.90
307.35
0.45
0.44
1.10
1.1 Li2O% over 0.45m
308.25
309.05
0.80
0.78
1.68
1.68 Li2O% over 0.80m
309.20
312.95
3.75
3.67
1.60
1.6 Li2O% over 3.75m
313.00
314.55
1.55
1.52
1.28
1.28 Li2O% over 1.55m
314.80
319.00
4.20
4.11
1.35
1.35 Li2O% over 4.20m
319.00
320.30
1.30
1.27
1.38
1.38 Li2O% over 1.30m
321.00
457.95
136.95
133.96
1.54
1.54 Li2O% over 136.95m
including
421.00
425.00
4.00
3.91
2.28
2.28 Li2O% over 4.00m
458.20
459.55
1.35
1.32
1.53
1.53 Li2O% over 1.35m
460.00
461.35
1.35
1.32
2.38
2.38 Li2O% over 1.35m
461.65
462.95
1.30
1.27
1.73
1.73 Li2O% over 1.30m
464.10
464.80
0.70
0.68
1.83
1.83 Li2O% over 0.70m
466.50
468.30
1.80
1.76
1.90
1.9 Li2O% over 1.80m
469.15
473.20
4.05
3.96
1.95
1.95 Li2O% over 4.05m
473.45
474.45
1.00
0.98
1.89
1.89 Li2O% over 1.00m
474.80
477.40
2.60
2.54
1.88
1.88 Li2O% over 2.60m
478.00
478.65
0.65
0.64
0.33
0.33 Li2O% over 0.65m
481.00
481.60
0.60
0.59
0.12
0.12 Li2O% over 0.60m
SR24-122
Not sampled
Note: Hole SR24-122 did not intersect mineralization
Rules for Intercept Calculation
1 - values of >/= 0.5% pegmatite are reported with maximum waste interval of 1 meter included
2 - published intercepts still stand if intercepts are >/=0.5 % when higher grade including are removed
3 - each reported intercept supported by mineralized pegmatite as logged in drill core
4 - Zones of <0.5 % Li2O are not published as standalone, but included in intercept calculations if a
continued zone is <1.0m
5 - intercepts <0.5m are removed from table - comment in release will be noted
Qualified Persons
Disclosure of a scientific or technical nature in this news release was prepared under the supervision of
Jessica Borysenko, P.Geo, ON. Member number 2279, Manager of Geology and Mines, Canada for
Separation Rapids Ltd. Ms. Borysenko is a qualified person for the purposes of National Instrument 43-
101, who has reviewed and approved the technical information included in this news release.
Quality Assurance-Quality Control ("QA/QC")
QA/QC protocols include the insertion of blanks and standards at regular intervals in each sample batch.
Drill core is cut in half with one half retained at site, the other half tagged and sent to ALS in Thunder Bay.
Prep. and Analytical Methods Used:
PREP-33D - Log, Crush - Fine Crushing 90% <2mm, Split, Pulverize 1 kg split to 95%<106um.
1
.
ME-4ACD81 - this is a multielement analysis using four acid digestion, that includes lithium to
10,000 ppm (1%) Li (2.15% Li2O)
2
.
ME-ICP06 - is a "whole rock" analysis that covers components such as silicon, sodium, potassium
and iron so is useful as a check on rock type, feldspar content and type, and amphibolite content.
3
.
ME-MS81 - is a fusion multielement analysis that includes important pegmatite elements such as
Rb, Ta, Nb and Sn
4
.
F- IC881 - a fluorine specific analysis that clearly indicates whether lepidolite is present in the rock.
Any value over 10,000 ppm (1%) F is likely to be Unit 6d - the lepidolite bearing unit.
Any sample that exceeds the lithium limits for ME-4ACD81 (1% Li, or 2.15% Li2O) is reanalyzed using
method ME-ICP82b - a lithium specific method with limit of 10% Li (21% Li2O). Pulps are to be returned
to the project site.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian advanced manufacturing company focused on vertically
integrating the Ontario lithium supply chain.
The Company, through its joint venture with SCR-Sibelco NV,
is currently developing its Separation Rapids lithium deposit near Kenora, ON, while also continuing to
advance the Snowbank lithium and Lilypad lithium-caesium projects.
Avalon 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.
In addition to these upstream activities, Avalon is executing on a key initiative to develop Ontario's first
midstream lithium hydroxide processing facility in Thunder Bay, ON, a vital link bridging the lithium
resources of the north with the downstream EV battery manufacturing base in the south.
For questions or feedback, please email the Company at
or contact Ms.
Rachel Naji, Investor Relations Manager at 416-364-4938
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities legislation.
Forward-looking information includes, but is not limited to statements related to
planned work at the Project.
Generally, forward-looking information can be identified by the use of
forward-looking terminology such as "add" or "additional", "advancing", "anticipates" or "does not
anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or
"conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or
"expansion", "expect" or "expectations", "forecasts", "forward", "goal", "improves", "increase",
"intends", "justification", "plans", "potential" or "potentially", "promise", "prospective", "prioritize",
"reflects", "robust", "scheduled", "suggesting", "support", "top-tier", "updating", "upside", "will be" or
"will consider", "work towards", or variations of such words and phrases or state that certain
actions,
events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of the Company to
be materially different from those expressed or implied by such forward-looking information, including
risks associated with mineral exploration and development operations such as: environmental
hazards and economic factors as they affect the cost and success of the Company's capital
expenditures, the ability of the Company to obtain required permits and approvals, the ability of the
Company to obtain financing, uncertainty in the estimation of mineral resources, uncertainty with
respect to the ability to successfully construct and develop the Company's lithium processing facility,
the price of lithium, no operating history, no operating revenue and negative cash flow, land title risk,
the market price of the Company's securities, the economic feasibility of the Company's mineral
resources and the Company's commercial viability, inflation and uncertain global economic
conditions, uncertain geo-political shifts and risks, successful collaboration with indigenous
communities, changes in technology and advancements in innovation may impact the development
of the Company's technology innovation centre and its lithium hydroxide processing facility, future
pandemics and other health crises, dependence on management and other highly skilled personnel,
title to the Company's mineral properties, the ongoing war in Ukraine and Israel, extensive
government and environmental regulation, reliance on artificial intelligence technology to influence
mining operations, volatility in the financial markets, uninsured risks, climate change, threat of legal
proceedings, as well as those risk factors discussed or referred to in the annual information form of the
Company dated November 28, 2023 (the "AIF") under the heading "Description of the Business -
Risk Factors". Forward-looking information is based on the reasonable assumptions, estimates,
analysis and opinions of management made in light of its experience and perception of trends,
current conditions and expected developments, as well as other factors that management believes to
be relevant and reasonable in the circumstances at the date that such statements are made, but which
may prove to be incorrect. Although the Company believes that the assumptions and expectations
reflected in such forward-looking information are reasonable, undue reliance should not be placed on
forward-looking information because the Company can give no assurance that such expectations will
prove to be correct. In addition to other factors and assumptions identified in the AIF, assumptions
have been made regarding, among other things: management of certain of the Company's assets by
other companies or joint venture partners, the Company's ability to carry on its exploration and
development activities without undue delays or unbudgeted costs, the ability of the Company to obtain
sufficient qualified personnel, equipment and services in a timely and cost effective manner, the
ability of the Company to operate in a safe, efficient and effective manner, the ability of the Company
to obtain all necessary financing on acceptable terms and when needed, the accuracy of the
Company's resource estimates and geological, operational and price assumptions on which these are
based and the continuance of the regulatory framework regarding environmental manners. Readers
are cautioned that the foregoing list is not exhaustive of all factors and assumptions that may have
been used.
Although the Company has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance
that such information will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such information.
Accordingly, readers should not place undue
reliance on forward-looking information.
The Company does not undertake to update any forward-
looking information, except in accordance with applicable securities laws.
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