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AVALON MINERALS LIMITED

ASX: AVI

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Avalon Minerals Ltd is an ASX-listed mineral exploration company with a portfolio of high quality assets in Sweden - one of the leading metal-producing countries in the European Union.

Avalon's flagship asset is the Viscaria Copper-Magnetite Project, located 1,200km north of Stockholm, where the Company has delineated a global resource of 66.2 million tonnes of mineralisation, containing 601,000 tonnes of copper and 2.4 million tonnes of iron. A Bankable Feasibility Study is currently underway at Viscaria targeting ore delivery in the first quarter of 2013.

The Viscaria Project is surrounded by established infrastructure, lying immediately adjacent to LKAB's Kirunavaara Iron Ore Operation - Europe's largest iron ore mine - and in close proximity to high-capacity rail and ports.

In addition to Viscaria, Avalon holds a strong exploration portfolio with potential to deliver significant long term growth opportunities to Avalon shareholders.

Avalon's aim is to establish a low capital cost, early cashflow start-up operation at Viscaria to underpin the development of a diversified resource mining group.

Viscaria Project

Avalon's 600km2 Viscaria Copper-Magnetite Project is located in northern Sweden, 1,200km north of Stockholm.

The project is located adjacent to road, rail and hydro power infrastructure and a short distance from the regional mining centre of Kiruna (population 20,000). The Kiruna region is regarded as a world class Iron Oxide Copper Gold (IOCG) province, and Viscaria lies within 4km of LKAB's giant Kirunavaara Iron Ore Mine (Europe's largest iron ore mine and the world's second largest underground mine) and 80km north of Boliden's Aitik Copper Mine (Europe's largest open cut mine).

Viscaria is the largest copper-iron greenstone hosted deposit in northern Sweden and has been interpreted as a Volcanogenic Massive Sulphide (VMS) deposit.

Since acquiring the Project in 2008, Avalon's JORC resources at Viscaria now total 66.2 million tonnes of both VMS and Skarn type mineralisation, for 601,000 tonnes of contained copper and 2.4 million tonnes of contained iron.

Avalon is conducting a major resource extension drilling program at Viscaria aimed at converting previously-established Exploration Targets to JORC reportable resources and to increase Avalon's overall JORC reported resource inventory.

The program comprises approximately 20,000 of planned drilling and is aimed at increasing open pittable material from 15 million tonnes to 25 to 35 million tonnes to support the Development Case* mining scenario outlined in the PFS. This target of 25-35 million tonnes of open pittable material is an interim target only.

In addition, a major new regional exploration program has commenced targeting a number of high priority areas within Avalon's tenure in the broader Kiruna region.

The resource expansion and regional exploration programs will run in parallel with the Bankable Feasibility Study into the development of the Viscaria Project.

Adak Project

The Adak copper project contains five historical mines – Adak, Lindskold, Brannmyran, Karlsson (the Adak Dome Mines) and Rudtjebacken - covering an area of 26.71 km˛ located in the world-class Skelleftea Volcanogenic Massive Sulphide (VMS) mining district of northern Sweden.

The Adak Project was operated by the Government of Sweden between 1940 and 1977 when the last mine was closed by Swedish mining giant Boliden. The total material mined from the Adak Project was approximately 10.8Mt at 1.56% copper, including 6.3Mt at 2.02% copper from the Adak Dome and 4.74Mt at 0.92% copper and 2.96% zinc at Rudtjebacken.

Avalon’s attraction to Adak is due to the exploration potential surrounding the existing mines and at depth, and its strategic location within trucking distance of existing concentration facilities. The Company considers Adak to be an exciting brownfields project in an active mining district.

Avalon is currently collecting and digitising all historical data (exploration, drilling, mining and metallurgy) from the Adak Project in preparation for commencing field based exploration programs in 2011.

Mine For

copper, gold, zinc, iron ore, silver

Location of operation(s)

Sweden

Address

Level 2, 91 Havelock St
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9322 2752

Email

Website


Last Updated

28/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.