Mining Explorers 2009: Avalon Rare Metals Inc.
Last updated 11/1/2009 at Noon
President and CEO: Donald S. Bubar
Vice President, Finance and CFO:
R.J. (Jim) Andersen
Vice President, Exploration: William Mercer
Formed in 1991, Avalon Rare Metals is a mineral exploration and development company primarily focused on the rare metals and minerals that are in increasing demand for environmentally beneficial high technology applications.
These include lithium, tantalum, cesium, indium, and gallium; rare earth elements, such as neodymium, dysprosium and terbium; and rare minerals such as calcium feldspar.
Avalon's strategy for growth is to develop its rare metals and minerals projects to production and cash flow, expand the markets for these materials, and acquire additional compatible rare metals assets.
The junior currently owns five rare metals and minerals projects in Canada, four of which are advanced in development - Separation Rapids lithium minerals project; Warren Township calcium feldspar project where bulk sampling programs are in progress; and Thor Lake REE and East Kemptville tin-indium-gallium-germanium projects, where large inferred resources have been identified requiring further drilling to bring the projects to the pre-feasibility stage.
The Thor Lake REE Project is located in Northwest Territories, 100 kilometers, or 62 miles, southeast of Yellowknife.
Final assay results reported in July from a 22-hole, 5,477-meter winter drill program on the Lake Zone Rare Earth Elements deposit confirmed some exceptional grades and thicknesses in the southern part of the deposit.
A summer drill program began July 1, to complete definition drilling over the areas in the southern part of the Lake Zone deposit that were not tested in the winter program and are accessible during the summer.
About 4,000 meters in 20 holes is planned.
Two updates to the deposit's resource estimate are planned by this fall, including all the results from the summer program as well as a progress report on current metallurgical testing.
Cash and short-term deposits: Cash and cash equivalents: C$7 million.
Working capital: C$6.6 million
Market capitalization: C$162.85 million
Suite 1901 - 130 Adelaide St.W.
Toronto, ON Canada M5H 3P5
Tel: 416-364-4938 Fax: 416-364-5162