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. (TSE:AVL) (NYSEMKT:AVL) is a mineral development company focused on rare metal deposits in Canada. Its flagship project, the 100%-owned Nechalacho Deposit, Thor Lake, NWT is exceptional in its large size and enrichment in the scarce 'heavy' rare earth elements, key to enabling advances in clean technology and other growing high-tech applications. With a positive feasibility study and environmental assessment completed, Nechalacho remains the most advanced potential large new source of heavy rare earths in the world outside of China, currently the source of over 95% of the world supply. Avalon is well funded, has no debt and its work programs are progressing steadily. Social responsibility and environmental stewardship are corporate cornerstones.
Avalon Rare Metals Inc.