NORTHWEST TERRITORIES – Avalon Rare Metals of Toronto has updated the resource estimate for the Nechalacho rare earth deposit at its Thor Lake property. The report was prepared by Roscoe Postle Associates.
The measured resource is 8.90 million tonnes grading 1.64% TREO and 21.70% HREO/TREO using the base case $260/t net metallurgical return cut-off for the Basal zone. Using a $400/t NMR cut-off, the measured resource is still 8.42 million tonnes grading 1.69% TREO and 21.82% HREO/TREO.
The updated estimate also showed an increase in the indicated resources to 64.76 million tonnes grading 1.52% TREO with 21.41% HREO/TREO at the $260/t NMR base case cut-off.
The numbers add up to a total measured and indicated resource of 72.66 million tonnes at 1.53% TREO and 21.50% HREO/TREO, compared to an indicated resource estimate for the Basal zone of 57.59 million tonnes grading 1.56% TREO and 20.72% HREO/TREO completed in January 2011.
More details are available at AvalonRareMetals.com.