Avalon reports bonanza drill results of up to 1.95% Li2O at Ontario project
Avalon Advanced Materials (TSX: AVL) has announced drill results from its 2024 winter drill campaign at the Separation Rapids project in Kenora, Ontario. This project is a joint venture between SCR-Sibelco NV (60% ownership) and Avalon (40%).
The campaign involved 10 drill holes, focusing on expanding and upgrading the mineral resources at the Big Whopper deposit, which spans 750 metres. The results include 512 assay results from five diamond drill holes.
Key drill results include:
- Hole SR24-114: intersected 105.6 metres at 1.67% lithium oxide (Li2O) from 313.5 metres depth, including 21.5 meters at 1.78% Li2O from 143.5 meters depth;
- Hole: SR24-113 intersected 66.2 metres at 1.68% Li2O from 292.2 metres depth, including 32.6 metres at 1.95% from 121.0 metres depth;
- Hole SR24-115: intersected at 13.8 metres at 1.81% Li2O from 93.5 metres depth;
- Hole SR24-116: intersected at 8.9 meters at 1.69% Li2O from 313 metres depth, including 12.7 meters at 1.67% Li2O from 325.3 metres depth.
The current resource estimate for the Big Whopper deposit includes 10.08 million tonnes of measured and indicated resources at 1.35% Li2O and 2.81 million tonnes of inferred resources at 1.38% Li2O.
“We are very excited with these fantastic drill results, which are a true reflection of the exploration upside potential of the project. Our technical team is eager to follow up on some of the longer intercepts to better understand the depth potential for resource expansion,” CEO Scott Monteith said in a news release.
“We continue to advance on our Thunder Bay lithium processing facility and expect more news in the coming weeks,” he added.
Avalon is focused on developing its Separation Rapids lithium project, as well as the Nechalacho rare earths and zirconium projects in the Northwest Territories.
The company aims to vertically integrate the Ontario lithium supply chain and is developing Ontario’s first midstream lithium hydroxide processing facility in Thunder Bay. This facility will connect northern lithium resources with the EV battery manufacturing base in the south.