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Avalon Advanced Materials Inc.
Summary
| Project: | Separation Rapids | |
|---|---|---|
| Deposit: | Separation Rapids | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 9/27/2016 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-9-2016: Avalon Advanced Materials Inc. announces a PEA report for its Separation Rapids deposit at the Separation Rapids project. PEA results incl. pre-tax NPV (8%) of CAD$343M, IRR of 19%. Micon International Limited (Micon) has been retained by Avalo | |
| Resources: | (Resource, M+I): 8.00Mt @ 1.29% Li2O (0.5% Li2O cut-off) | |
| CP/QP: | [Resources]: David L. Trueman (Independent) | |
| ABSTRACT: | Micon International Limited (Micon) has been retained by Avalon Advanced Materials Inc. (Avalon) to prepare a Technical Report under Canadian National Instrument 43-101 (NI 43- 101) which discloses the results of the preliminary economic assessment (PEA) for the Separation Rapids Lithium Project. The objective of this PEA is to demonstrate the economic potential for producing a lithium ion battery material from the Separation Rapids Lithium Deposit (SRLD). The deposit was evaluated previously in 1999-2000 as a potential source of the lithium mineral, petalite, for glass-ceramics applications. While this market remains an opportunity, lithium ion battery technology has developed as the energy storage solution of choice for a variety of commercial applications and this has resulted in a significant increase in current and projected demand, for battery materials. This PEA has been prepared by Micon under the terms of its agreement with Avalon. As discussed in the relevant sections of the report, Micon has prepared a mine plan and schedule and has prepared an economic analysis of the project. Micon has reviewed the metallurgical testwork carried out on the property and the mineral processing flowsheet, has reviewed infrastructure requirements, and has reviewed capital and operating cost estimates prepared by Avalon and its retained consultants. The PEA is based on mineral resource estimates for lithium and feldspar contained in the Separation Rapids Lithium Deposit (SRLD), prepared by Benjamin Webb, Principal with BMW Resource Consultants LLC, dated 21 October, 2016. | |
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