Avalon Rare Metals (TSE:AVL) Retains SNC-Lavalin to Complete Nechalacho Rare Earth Elements Project Feasibility Study
Toronto, Canada (ABN Newswire) - Avalon Rare Metals Inc. (TSE:AVL) (PINK:AVARF) is pleased to announce that the Company has retained SNC-Lavalin to complete the Feasibility Study ('FS') for its Nechalacho rare earth elements project (the 'Project').
Brian Chandler, Chief Operating Officer, commented, 'This is an important milestone for Avalon as we move into the final stage of project evaluation and preparation before we formally commence construction at Nechalacho.'
Mr. Chandler continued, 'SNC-Lavalin's capacity and broad experience in all aspects of project development from engineering to, procurement, logistics, contracts administration, safety and risk management, as well as tendering for construction, will be invaluable to successfully developing the Project'.
Scope of the Feasibility Study
The FS will build on the updated Prefeasibility Study ('PFS') of July 7, 2011, which demonstrated the technical and economic viability of the Project. The main purpose of the FS is to support raising the capital required to bring Nechalacho into commercial operation, by confirming the technical and economic viability of the Project to a degree of certainty satisfactory to a bank. It is scheduled for completion around the end of 2012.
The Project consists of an underground mine and backfill paste plant; flotation concentrator including tailings facilities; mine site utilities and infrastructure including power plant, accommodations, airstrip and docking facilities; hydrometallurgical plant; and a rare earths separation plant. SNC-Lavalin is already involved in the prefeasibility study design of the proposed separation plant.
SNC-Lavalin will be responsible for completing the overall FS including technical aspects of the hydrometallurgical plant and separation plant, as well as for integrating all other components of the Project assembled by Avalon and other subcontractors.
For further detailed information regarding the Project, please refer to the Technical Report of August 25, 2011 on our website at http://www.avalonraremetals.com/projects/thor_lake/prefeasibility_study/
All project technical reports are also available on http://www.sedar.com
About Avalon Rare Metals Inc.:
Avalon Rare Metals Inc. is a mineral development company focused on rare metals deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT, is emerging as one of the largest undeveloped rare earth elements resources in the world. Its exceptional enrichment in the more valuable 'heavy' rare earth elements, which are key to enabling advances in green energy technology and other growing high-tech applications, is one of the few potential sources of these critical elements outside of China, currently the source of 95% of world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones.
Shares Outstanding: 103,136,986. Cash Resources: Approximately $60 million
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Avalon Rare Metals Inc.
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Avalon Rare Metals
Email: ir@avalonraremetals.com