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Gold/Mining/Energy : Starcore Resources Ltd. SOE.V -- Ignore unavailable to you. Want to Upgrade?

To: Rob Toor who wrote (51)	11/26/1997 11:52:00 PM
From: morrie	Respond to of 578

ROB; LOOKS LIKE AVALON HAS THE MAKINGS OF A MINE. Subject: Avalon Ventures \| Previous \| Next \| Respond \| Remove Navigation To: DRT (397 ) From: BLZBub Wednesday, Nov 26 1997 6:00PM EST Reply # of 400 News Release AVALON VENTURES LTD. ANNOUNCES RECENT DRILLING CONTINUES TO EXPAND THE PETALITE ZONE IN THE BIG WHOPPER RARE METAL PEGMA TORONTO, ONTARIO-- Avalon Ventures Ltd. (the "Company") is pleased to report that recent drilling on the Separation Rapids property, located 60 km north of Kenora, Ontario, continues to expand the size of the petalite zone in the Big Whopper Pegmatite. The results to date establish the Big Whopper among the largest rare metal pegmatite deposits ever found, anywhere in the world. The Company has now completed 25 holes totalling 3,993 metres, all of which have intersected substantial thicknesses of mineralized pegmatite, ranging from 15 to 60 metres wide, over a strikelength of 500 metres (open in both directions). More importantly, the four most recent holes have confirmed that the petalite zone extends to a minimum vertical depth of 250 metres with little change in the thicknesses observed at surface, or in the character of the mineralization. Complete assays have now been received for 11 of the 25 holes drilled to date, of which the first four holes were reported in the Company's news release dated November 5, 1997. Assay results from holes SR97-5 to 11 show consistent lithium and rubidium grades of between 1.3 and 1.7% Li2O and averaging 0.3% Rb2O (see attached table). These lithium grades are indicative of petalite contents ranging between 30 and 40%. The rubidium is believed to reside in the K-feldspars and the micas, both of which may also be marketable commodities. While petalite and rubidium K-feldspar are the most abundant minerals of economic importance encountered in the Big Whopper to date, highly anomalous tantalum and cesium values of up to 0.058% Ta2O5 and 0.402% Cs2O have frequently been intersected over narrow intervals of 0.3 to 0.5 m in most of the holes drilled to date. These levels of local enrichment indicate a high probability that zones of economic tantalum and cesium mineralization will eventually be identified within the Big Whopper pegmatite system through further systematic sectional drilling. An initial progress report from the market study recently commissioned by the Company on the petalite as well as the cesium, tantalum and rubidium minerals, indicates that the potential market for petalite could be significantly greater than previously assumed. An on-going survey of North American glassware and ceramics industry users indicates that the lack of local sources of petalite supply in North America has resulted in product substitution. Given its advantages of proximity to markets and a potentially high-quality product, the Separation Rapids petalite deposit could capture a significant share of this multi-million dollar business. A metallurgical study on the petalite ores, now underway at Lakefield Research, will provide an initial indication of the quality of the Separation Rapids petalite concentrates and the costs of extraction. Final reports on both the market study and metallurgical study are expected in January, at which time the Company anticipates commissioning a pre-feasibility study to assess the economic viability of producing petalite and rubidium minerals from the Big Whopper pegmatite. Drilling will continue into December with a further 1000 metres of drilling planned. A second phase drilling program is scheduled for January subject to arranging additional financing. Drill Hole Locations --------------------- Hole Line Stn Dip Az Length (m) ----------------------------------------------------------------------------- S97-5 4+00W 0+90S -45 degrees 180 92 S97-6 3+50W 0+81S -45 degrees 180 125 S97-7 3+50W 1+13S -45 degrees 180 83 S97-8 5+00W 0+10S -45 degrees 180 155 S97-9 5+00W 0+60S -45 degrees 180 80 S97-10 5+00W 1+25S -45 degrees 000 167 S97-11 5+50W 0+10.5N -45 degrees 180 152 Assay Summary ------------- Interval Length Est. True Li2O Rb2O Cs2O Ta2O5 Hole (m) (m) width (m) (%) (%) (%) (%) ----------------------------------------------------------------------------- S97-5 7.12- 65.00 57.88 41 1.434 0.318 0.006 0.004 incl. 39.10- 65.00 25.90 18 1.707 0.253 0.005 0.004 S97-6 48.30-101.70 53.40 38 1.443 0.337 0.016 0.004 incl. 65.87- 96.20 30.33 21 1.715 0.289 0.012 0.003 S97-7 20.10- 63.30 43.20 31 1.338 0.375 0.025 0.002 incl. 42.60- 59.80 17.20 12 1.524 0.385 0.018 0.002 S97-8 95.50-131.25 35.75 25 1.215 0.307 0.014 0.006 incl. 112.40-131.25 18.85 13 1.472 0.307 0.005 0.006 S97-9 8.00- 68.20 60.20 43 1.472 0.356 0.012 0.007 incl. 16.00- 34.00 18.00 13 1.674 0.402 0.006 0.007 S97-10 16.80- 81.70 64.90 46 1.338 0.345 0.012 0.007 incl. 18.60- 48.00 29.40 21 1.521 0.303 0.005 0.005 and 55.30- 63.80 8.50 6 1.757 0.538 0.009 0.010 S97-11 112.40-131.00 18.60 13 1.268 0.320 0.018 0.007 incl. 116.50-125.20 8.70 6 1.518 0.369 0.005 0.007 Li2O = lithium oxide, Rb2O = rubidium oxide, Ta2O5 = tantalum pentoxide, Cs2O = cesium oxide Assays performed by XRAL Laboratories, Don Mills, Ontario Lithium and Tantalum were determined by ICP-MS Cesium and Rubidium were determined by AA Check assays will be performed on a systematic basis by a third party laboratory Note that pure petalite contains 4.2% Li2O on average The most recent posted price for petalite concentrates (4.2% Li2O) is US$270/tonne For further information contact Donald S. Bubar, at (416) 364-4938 or Investor Relations at 1-888-338-1188. Corporate Information may also be accessed on the internet at www.avalonventures.com ON BEHALF OF THE BOARD "Donald S. Bubar" Donald S. Bubar, President Tel: (416) 364-4938 Fax: (416) 364-5162 E-Mail info@avalonventures.com Internet: avalonventures.com no stock exchange has either approved or disapproved the information contained herein \| Previous \| Next \| Respond \| View SubjectMarks Bookmark this Subject Return to Gold, Mining, and Natural Resources One or more words separated by spaces: Subject Titles Only Full-Text Messages with Links Send questions and feedback to webmistress@techstocks.com To link to this reply, use the following Location: Terms of Use