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Late last week, Avalon released more encouraging assay results from the Phase 2 drill program at their Thor Lake Rare Metals project, located 100km southeast of Yellowknife, NWT. Highlights from these holes include broad intervals of 12.0m of 2.00% TREO in hole L08-89, 25.25m of 1.76% TREO (Total Rare Earth Oxides) in hole L08-84 and 14.95m of 2.05% TREO in hole L08-85.
Also important is the high proportion of the much more valuable heavy rare earth elements' (Europium through Lutetium plus Yttrium) at Thor Lake. Of the 2.00% TREO in the 12-metre intercept in hole L08-89, for example, 30.5% of them are heavy rare earths. By comparison, most known rare earth deposits are dominated by the light rare earths and hold less than 3% heavy rare earth oxides.
In our discussion with Avalon Venture president Don Bubar, he tells us how increasing utilization of rare earth metals in China, the world's major producer, means there is less available to markets in the rest of the world. And this comes at a time when there are more and more important applications for the rare earths, including the exploding markets for hybrid cars and flat-screen displays. The interview is available at http://www.smartstox.com/interviews/avl.php.
In early trading on Monday June 30th, 2008, Avalon Ventures Ltd. shares were trading down $0.05 to $1.80.
To view the full Smartstox interview line-up, visit http://www.smartstox.com.
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