Avalon Minerals Limited

Published : July 11th, 2016

June 2016 Quarterly Activities and Cashflow Report

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   9/11 | Cash | Copper | Diamond | Finland | Georgia | Gold | Growth | Iron | Lithium | Niobium |

June 2016 Quarterly Activities and Cashflow Report

51d790bb-d44e-473e-8e5f-08eb958b9e24.pdf

11 July 2016

AVALON MINERALS LTD JUNE 2016 QUARTERLY REPORT

Lithium Portfolio, Scandinavia (Avalon - 80%)

  • Avalon entered into two agreements over known lithium properties in Finland and Sweden;

  • The flagship property includes the known high grade Kietyönmäki lithium pegmatite and surrounding area which includes 24m at 1.3% Li2O in historical Diamond drilling by the Finnish Geological Survey. Peak assays include 3m at 4.35% Li2O;

  • Drilling at Kietyönmäki is expected to commence in Q3, 2016 and is aimed at delivering a maiden Resource estimate;

  • Avalon's move into the lithium sector builds on its Scandinavian expertise and network, and is a complementary business to its advanced Viscaria Copper Project.

    Viscaria Copper Project, Sweden (Avalon - 100%)

  • The Viscaria Copper Project Environmental and Social Impact Assessment (ESIA) process is progressing, and represents the critical path to final permitting;

  • Work continues on increasing the scale of the Viscaria Copper Project.

  • Additional geological and mine modelling studies on A and B Zone have enabled delineation of a larger open pit and captured more Mineral Resource into Mining Inventory to support a larger scale mining operation;

  • In addition, further growth of the D Zone Mineral Resource estimate is expected with additional drilling in 2016 and 2017 (see ASX announcement 5/4/16).

    Corporate Highlights

    • A$0.6 million in cash at 30 June 2016;

    • Placement of approximately $1.9M to new sophisticated investors and existing cornerstone shareholders announced 6 July 2016.

Exploration and Development Activities

Lithium Portfolio

During the quarter Avalon entered into agreements to secure interests over known lithium properties in Finland and Sweden.

In Finland Avalon, through subsidiary Scandian Metals Pty Ltd (Scandian), finalised an earn-in joint venture with Canadian company Nortec Minerals Corp. over the Kietyönmäki lithium occurrence in southern Finland. The terms of that agreement were announced on 19 May 2016.

Tammela (Somero) Lithium Project

Lithium mineralisation at Kietyönmäki is hosted in a spodumene-bearing pegmatite dyke swarm. The Kietyönmäki lithium pegmatite deposit was drilled during the period 1987 and 1988 by GTK. Seventeen shallow Diamond drill holes were completed to test down to 70m below surface across three traverses, including one traverse of very shallow holes to identify bedrock. Assay results are tabulated in table below.

Assays from drill holes completed by the Geological Survey of Finland (GTK), and confirmed by Nortec, included 9m at 2.2% Li2O within a broader zone of 24m at 0.1.3% Li2O within R310.

Drill hole

From (m)

To (m)

Interval (m)

Li2O %

R307

14.1

37.1

23.0

1.53

including

14.1

16.4

2.3

1.78

18.0

21.8

3.8

1.77

24.2

37.1

12.9

1.83

R308

3.7

11.3

7.6

1.37

including

3.7

6.0

2.3

2.01

8.3

11.3

3.0

1.63

R309

3.0

10.5

7.5

1.49

including

3.0

4.2

1.2

1.40

6.0

10.5

4.5

1.99

R310

11.7

14.7

3.0

1.23

65.0

83.0

18.0

1.79

including

68.0

77.0

9.0

2.60

70.0

73.0

3.0

4.35

R311

20.3

41.9

21.6

1.42

R315

24.1

36.8

12.7

1.10

R316

86.0

99.0

13.0

1.66

including

86.0

95.0

9.0

1.88

98.0

99.0

1.0

3.90

R317

41.4

45.3

3.9

1.28

Table 3: Kietyönmäki assay results

The Kietyönmäki lithium deposit is held under approved claims and field work is planned to commence in July with drilling expected to commence in August-September 2016. Avalon has also lodged further Exploration Reservation applications in the Somero district in southern Finland.

Avalon has included an Exploration Target of 8-15Mt at 1.4% - 1.8% Li2O (refer to ASX announcement dated 14 June 2016). The potential quantity and grade is conceptual in nature. There has to date been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Corporate Presentation released on 14 June 2016 provides further background on this target.

The Exploration Target is comprised of:

•4 -6Mt at the Main dyke drilled to a depth of 300m below surface. Existing drilling has tested the dyke to 65m below surface

•2 -5Mt from outcropping and lithium bearing pegmatite dykes immediately south-west of the Main Dyke, where there has not been previous drilling

•2 -5Mt from lithium pegmatite dykes, partially drill tested, to the north-east of the Main Dyke

•2 -3Mt from mapped dykes within a 1km radius, and primarily along strike, of the Main Dyke, where there has not been previous drilling

Tammela Gold Opportunity

The Nortec JV also includes two defined gold opportunities (Satulinmäki and Riukka) held within the claim areas and further exploration will be undertaken to assess these areas. All historical drilling is shallow and has only tested to ~70m below surface. Historical assays by GTK included 22m @ 3.6 g/t Au from 50 metres (hole 391) at Satulinmäki.

Kaustinen Lithium Project

In the Kaustinen district in central Finland Avalon, through Scandian, has lodged an Exploration Reservation application covering up to 500 km2, within the Central Ostrobothnia district, home to several known lithium pegmatites some of which are at an advanced stage of PFS and held by private Finnish company Keliber Oy. The area of the Exploration Reservation application by Scandian does overlap in part with competing applications and these are yet to be resolved.

Avalon has also applied for smaller Exploration Permit applications directly adjacent to defined lithium deposits.

Seinäjoki Lithium Project

One Exploration Reservation application has been lodged by Scandian over an area of 207 km2 covering a documented lithium pegmatite occurrence, and at the southern end of the regional geological province that includes the Kaustinen district in the north. Reconnaissance exploration will commence upon approval of the Exploration Reservation.

Applications for Exploration Reservations in the Tammela, Kaustinen and Seinäjoki areas are still being processed by the Finnish Safety and Chemicals Agency (Tukes; the government department responsible for administering mining tenure in Finland), and some of the areas under application have competing applications, but these do not compromise Avalon's exploration and proposed resource definition drilling program at the Kietyönmäki deposit.

In Sweden Avalon, through subsidiary Scandian Metals Pty Ltd (Scandian), has entered into a Heads of Agreement with private Australian interests to explore two approved Exploration Concessions and an application for an Exploration Concession in Vasternorrlands, referred to as the Ladum Project.

The Australian interests include a private company held by well-known and highly respected geologist and analyst David Ransom, with a 20% equity position in Scandian, and the issuance of 5 million shares in Avalon being granted to the private Australian interests in exchange for vending these prospects into Scandian.

The Ladum Project covers areas within a regional pegmatite district that has seen minor historical exploration primarily for tin. Most of this exploration was undertaken by LKAB in the 1980's. The exploration included geophysics, till-sampling, and general geological mapping and investigations. This work resulted in a number of tin, niobium, tantalum and lithium bearing pegmatites being defined. After this initial program LKAB ceased all exploration and focussed its business on iron ore developments in northern Sweden near Kiruna.

The main prospect secured under approved Exploration Concession consists of a NE-trending lithium-bearing pegmatite dyke swarm.

The main prospect area is within forested terrain with easy access through logging roads. Main roads, power lines and local towns such as Sollefteå are all nearby. Ports are located approximately 75km to the south-east. The climate in the area is relatively mild due to proximity to the Baltic Sea.

Data compilation and an initial field program on the Ladum Project, Sweden is scheduled for July.

Avalon, through Scandian Metals, assumes responsibility for a 1% net smelter royalty payable to the original Swedish claim owner.

Avalon will fund exploration on the Scandian portfolio of lithium projects and standard dilution clauses apply once expenditure thresholds are exceeded.

All exploration areas within the Scandinavian portfolio are supported by high quality infrastructure. Good quality open file data exists and compilation and interpretation of this data has commenced. Data from joint venture partners is also undergoing review.

Low sovereign risk in Finland and Sweden, and Avalon's operating base from Kiruna in northern Sweden, together with local partnerships, support this initiative. Securing an advanced, drill ready lithium deposit at Kietyönmäki, and documented lithium-bearing pegmatites in all other areas held and under application, allows for rapid advancement towards definition of a maiden resource.

Tenements

During the quarter, the following lithium tenements were obtained, or applications lodged in Sweden and Finland, by Avalon's 80% owned subsidiary Scandian Metals Pty Ltd (through its 100% owned Swedish subsidiary Scandian Metals AB):

  • Ladumyrberget nr 1Exploration Concession, Vasternorrlands, Sweden - Granted^

  • Ojaklacken nr 1Exploration Concession, Vasternorrlands, Sweden - Granted^

  • Fannbyasen nr 1Exploration Concession, Vasternorrlands, Sweden - Application^

  • Niinimäki Exploration Reservation, Somero, Finland - Application

  • Ypäjä Exploration Reservation, Somero, Finland - Application

  • Kaila Exploration Reservation, Somero, Finland - Application

  • Loulus Exploration Reservation, Kaustinen, Finland - Application

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Finland | Georgia | Sweden | All
Gold and Silver Prices for these countries : Finland | Georgia | Sweden | All

Avalon Minerals Limited

EXPLORATION STAGE
CODE : AVI.AX
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Avalon is a producing company based in Australia.

Its main exploration property is VISCARIA in Sweden.

Avalon is listed in Australia and in Germany. Its market capitalisation is AU$ 11.7 millions as of today (US$ 9.2 millions, € 7.6 millions).

Its stock quote reached its highest recent level on April 08, 2011 at AU$ 2.96, and its lowest recent point on April 08, 2016 at AU$ 0.01.

Avalon has 650 849 984 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Avalon Minerals Limited
2007 Annual Report
Nominations of Avalon Minerals Limited
7/1/2010Appointment of Chief Financial Officer
Project news of Avalon Minerals Limited
4/2/2015Change of interests of Substantial Holder
5/9/2011(Viscaria)High grade copper from deep drilling at Viscaria Copper-Iron...
3/24/2011(Viscaria)Significant high-grade copper intersections from Viscaria Co...
2/21/2011(Viscaria)Drilling update - Viscaria copper-iron project, Sweden
8/16/2010(Viscaria)Raises $3.2M to Advance Feasibility Studies on Viscaria Copp...
7/27/2010(Viscaria)Prepares Resource Estimate For "D" Zone at Viscaria
6/8/2010(Viscaria)Further High-Grade Magnetite and Copper Intersections from R...
4/15/2010(Viscaria)Best Copper Intersection To Date Received At Viscaria VMS Pr...
3/11/2010(Viscaria)Drilling Continues To Confirm Potential Of Viscaria VMS Proj...
1/22/2010(Viscaria)2010 Drilling Programme Commences At Viscaria Vms Copper Pro...
1/12/2010(Viscaria)Hits High-Grade Copper And Identifies New Mineralised Zones ...
12/3/2009(Viscaria)To Raise Up To $A6.6m To Fund Ongoing Drilling And Feasibili...
10/2/2009(Viscaria)Two Drilling Rigs On Site at Viscaria Copper Project, Sweden
8/4/2009(Viscaria)Drilling extends known limits of a zone and conductor 1 mine...
6/12/2009(Viscaria)Landmark 3,500M RC and Diamond Drilling Program Commences at...
9/25/2008(Viscaria) Increases Nordic Copper Resource: Moves Rapidly Into Mining...
8/12/2008(Viscaria)Boosts Copper Resource by 32% at Viscaria Project, Sweden
5/30/2008(Viscaria)Avalon Minerals Delivers Maiden 26.6MT Copper Resource at Vi...
Corporate news of Avalon Minerals Limited
7/11/2016June 2016 Quarterly Activities and Cashflow Report
7/5/2016Avalon Minerals to complete placement
6/14/2016Lithium Update
5/19/2016Avalon Builds Lithium Portfolio in Finland
5/11/2016Results of Meeting
4/6/2016General Meeting Notice
4/5/2016Investor Update and Presentation
1/18/2016Investor Presentation
1/15/2016Quarterly Activities and Cashflow Report
12/18/2015High Grade Drill Results Define New Southern Shoot
11/4/2015Update on Rights Issue and Presentation
10/28/2015Rights Issue Offer Document
10/20/2015Assay Results at Viscaria D Zone
10/19/2015Disclosure Listing Rule 3.10.5A
10/15/2015Cleansing Notice
10/9/2015Avalon not to Proceed with Discovery Zone Acquisition
9/20/2015Discovery Significantly Expands D Zone
9/9/2015Assessment of Exploration Opportunities - Kiruna Greenstone ...
9/7/2015VDD193 Intersects Strong Copper Mineralisation
9/1/2015Further High Grade Copper From Viscaria D Zone
8/11/2015Further Strong Copper Assay Results from Viscaria D Zone
7/15/2015Shallow High Grade Copper Assay Results Viscaria D Zone
7/13/2015Quarterly Activities Report and Appendix 5B
7/10/2015Near Mine Exploration Opportunities
7/2/2015High Grade Copper Intersected at Viscaria
6/12/2015Placement of 12 million shares complete
4/20/2015First hole at Viscaria D Zone Completed
4/9/2015Revised Nihka Target delivers Copper Anomaly
4/8/2015Nihka Target delivers Copper Anomaly
4/2/2015Director Retires
3/30/2015Drilling and Corporate Update
3/25/2015Notice of General Meeting
3/15/2015ASX Query and Response Appendix 3Y
3/12/2015Form 604 Substantial Holder Change
3/11/2015Form 605 Ceasing to be substantial shareholder
3/11/2015AVI Half Year Report to 31 Dec 2014
3/11/2015Cleansing Notice
2/26/2015Change of registered office
2/26/2015Trading Halt
2/17/2015Research Report AVI
2/2/2015Investor Presentation January 2015
1/14/2015Drilling confirms new Footwall Copper Zone
12/1/2014Viscaria K7 Mining Exploitation Concession Granted
11/17/2014Completion of Share Consolidation
11/3/20142014 AGM - Chairman's Address
4/18/2011(Viscaria)Continued high grade copper intersections from Viscaria Copp...
2/16/2011Entitlement Issue closes
8/18/2010Avalon promotes Senior Executive Andrew Munckton to Managing...
6/23/2010New Research Report from Strachan Corporate
2/10/2010Rights Issue Closed
1/29/2010December 2009 Quarterly Report
11/19/2009Annual General Meeting - Chairman's Address
10/30/2009September 2009 Quarterly Report
9/11/2009Share Placement
7/29/2009June 2009 Quarterly Report
1/29/2009December 2008 Quarterly Activities Report
11/10/2008A$2m Placement to Underpin Viscaria Development
9/25/2008Pro Rate Non-Renounceable One-for-Four Entitlement Issue
8/4/2008Announces Proposed Sale of West Australian Exploration Asset...
7/31/2008June 2008 Quarterly Activities Report
7/15/2008Tests Viscaria Tailings Dam
6/12/2008Major VTEM Survey Commences at ADAK Copper Project, Sweden
6/10/2008Green Leader Research Report
4/30/2008Quarterly Activities Report
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (AVI.AX)BERLIN (AL9.BE)
0.018+0.00%0.022+0.00%
AUSTRALIA
AU$ 0.018
09/08 08:30 -
0%
Prev close Open
0.018 0.019
Low High
0.018 0.019
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.018 -%
Volume 1 month var.
1,050,000 -%
24hGold TrendPower© : -27
Produces
Develops
Explores for Copper
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20170.00%0.020.01
2016-21.74%0.060.01
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 5.52+0.36%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.18-1.55%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.39+3.02%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.97-3.96%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.92-9.80%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.03+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.87+1.08%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.43-0.69%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.75+3.85%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.08+14.29%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.09+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.15+0.47%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 12.16+3.93%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.05+12.20%Trend Power :