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Gold/Mining/Energy : AVL.V - AVALON VENTURES -- Ignore unavailable to you. Want to Upgrade?

To: DRT who wrote (546)	2/26/1998 3:38:00 PM
From: DRT	Read Replies (1) \| Respond to of 1474

The news is getting out: 1. Mining Journal, United Kingdom, February 20, 1998 AVALON SIZES UP BIG WHOPPER ... "Vancouver-listed Avalon Ventures Ltd. has calculated a preliminary resource estimate for the Big Whopper pegmatite on the Separation Rapids rare metals property near Kenora in southeastern Ontario. The mineralization in the Big Whopper is primarily petalite, a lithium silicate, in concentrations of up to 70%, with an average of over 30%. the pegmatitic dyke is 15-80 m in width, and vertical in orientation, with a minimum strike length of over 1.2 km. the drilled portion of the dyke extends over a strike length of 600 m and to a depth of 250m, where the mineralization remains open. Avalon has estimated drill-indicated resources of approximately 7 Mt at 1.28% lithium and 0.35% rubidium. In addition to the lithium and rubidium content of the Big Whopper, tantalum and cesium-enriched zones are present, albeit at reduced concentrations compared with lithium and rubidium." 2. Kenora Enterprise, February 22, 1998 AVALON COULD DEVELOP MULTI-MILLION-DOLLAR OPEN PIT MINE From the article: - ... Initial estimates indicate there may be $1 billion of the rare metal lithium, lodged in a mineral, called petalite - the Big Whopper. There may be "economic zones" of tantalum and cesium, as well, says Don Bubar (President of Avalon Ventures Ltd.). - Bubar said in a telephone interview from Toronto, "Its really not such a big project that a company our size couldn't handle it. Capital costs would be between $25 million and $30 million, which is not an out-of-sight number." - "This is a deposit that I think that once you get it going it will be in production for a very long time", he said. "Industrial minerals are subject to less in the way of price fluctuation". - "You don't have the opportunity to acquire world-class mineral assets every day. I'm glad we did acquire this one. Its turned out to be the best thing we've got right now." _____________ These may also be of interest: 3. LONDON (Reuters)/February 26, 1998 STANDARD BANK: Russian platinum dwindling SUMMARY -- Russian supplies of platinum, the rare metal used mainly in car catalysts to sweeten emissions, are nearly depleted, leading metals trader Standard Bank said Wednesday. 4. Special to American Metal Market, February 26, 1998 (SYDNEY) AUSTRALIA GWALIA posts record tantalum production SUMMARY-- Gwalia Consolidated Ltd., the world's largest producer of tantalum concentrates, posted record output of 233,416 pounds from its Greenbushes and Wodgina mines in Western Australia in the final three months of 1997. DRT