technical report on the nechalacho deposit, thor lake project ...

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Permitting.................................................................................................18-105 Reclamation and Closure .........................................................................18-106 TAXES..........................................................................................................18-108 CAPITAL COST ESTIMATE .........................................................................18-108 Capital Cost Estimate Details...................................................................18-109 OPERATING COST ESTIMATE ...................................................................18-117 Operating Cost Estimate Details ..............................................................18-118 ECONOMIC ANALYSIS................................................................................18-134 Economic Criteria.....................................................................................18-134 Cash Flow Analysis..................................................................................18-137 Sensitivity Analysis...................................................................................18-137 19. INTERPRETATION AND CONCLUSIONS .........................................................19-1 20. RECOMMENDATIONS .......................................................................................20-1 21. REFERENCES ....................................................................................................21-1 22. DATE AND SIGNATURE PAGE.........................................................................22-1 23. CERTIFICATES OF QUALIFIED PERSONS......................................................23-1 24. APPENDIX A – BLOCK MODEL DRILL SECTIONS .........................................24-1 25. APPENDIX B – NECHALACHO DEPOSIT DRILL HOLE COLLAR LOCATIONS........................................................................................25-1 26. APPENDIX C – NECHALACHO DRILL HOLE INTERCEPTS IN BASAL ZONE, IN DRILLED WIDTH ................................................................................................26-1 Technical Report 43-101 – March 13, 2011 Prepared by Avalon Rare Metals Inc. Page viii
LIST OF TABLES Table 1-1 Summary of Mineral Resources..................................................................1-2 Table 1-2 Project Advancement Budget .....................................................................1-9 Table 2-1 Rare Earth Element Data ...........................................................................2-5 Table 2-2 Rare Earth Element Applications ................................................................2-6 Table 4-1 Mineral Lease Summary ............................................................................4-1 Table 4-2 Mineral Claims Summary ...........................................................................4-1 Table 8-1 Rock Types ..............................................................................................8-3 Table 9-1 Table 9-2 Average Percent of Ore Minerals................................................................9-2 Percent of Rock or Concentrate..................................................................9-2 Table 9-3 Percent of Ore Minerals .............................................................................9-3 Table 11-1 Niton Test Analyses.................................................................................11-6 Table 12-1 Drill Core Summary .................................................................................12-1 Table 12-1 List of Holes with Geo<strong>technical</strong> Logs.........................................................12-4 Table 13-1 Laboratory Summary ...............................................................................13-3 Table 13-2 Oxide Conversions ..................................................................................13-5 Table 14-1 Statistics of QAQC Control Samples, L09-137 to L10-311...........................14-1 Table 14-2 Relative Standard Deviations, Standard AVL-H (2007-2010).......................14-2 Table 14-3 Relative Difference of Means of Analyses to Mean of All Laboratories..........14-3 Table 16-1 Flotation and Hydrometallurgical Recoveries .............................................16-4 Table 17-1 Mineral Resource Summary .....................................................................17-2 Table 17-2 Table 17-3 Drill Hole Information for this Resource Estimate........................................17-3 Assay Summary......................................................................................17-4 Technical Report 43-101 – March 13, 2011 Prepared by Avalon Rare Metals Inc. Page ix
Page 1 and 2: TECHNICAL REPORT ON THE NECHALACHO
Page 3 and 4: TABLE OF CONTENTS 1. SUMMARY ......
Page 5 and 6: QUALITY ASSURANCE / QUALITY CONTROL
Page 7: Warehouse..........................
Page 11 and 12: Table 18-9 Mine Ventilation Quantit
Page 13 and 14: Table 18-54 Table 18-55 Pine Point
Page 15 and 16: LIST OF APPENDICES APPENDIX A Block
Page 17 and 18: Table 1-1 Summary of Mineral Resour
Page 19 and 20: Royalties. The net revenue generate
Page 21 and 22: • The products will be shipped in
Page 23 and 24: • Income taxes and NWT mining roy
Page 25 and 26: 2. INTRODUCTION This report
Page 27 and 28: Figure 2-2 Project Sites, Thor Lake
Page 29 and 30: Table 2-1 Rare Earth Element Data A
Page 31 and 32: LIST OF ABBREVIATIONS Units of meas
Page 33 and 34: 4. PROPERTY DESCRIPTION AND LOCATIO
Page 35 and 36: The mining leases have a 21-year li
Page 37 and 38: 5. ACCESSIBILITY, CLIMATE, LOCAL RE
Page 39 and 40: Fort Resolution is located on the s
Page 41 and 42: producing a tantalum concentrate, b
Page 43 and 44: Figure 7-2 Detailed Deposit Geology
Page 45 and 46: The nepheline-sodalite syenite host
Page 47 and 48: LATE TECTONIC FAULTS Faults are pre
Page 49 and 50: 8. DEPOSIT TYPES The mineral deposi
Page 51 and 52: The Ore (Nechalacho) Nepheline Soda
Page 53 and 54: from section to section - this may
Page 55 and 56: Table 9-1 Average Percent of Ore Mi
Page 57 and 58: The Nechalacho deposit alteration s
Page 59 and 60:
11. DRILLING Since 1977, diamond dr
Page 61 and 62:
Foraco drill rig was added in Febru
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CORE LOGGING AND CORE RECOVERY The
Page 65 and 66:
A high R 2 (and all regressions had
Page 67 and 68:
12. SAMPLING METHOD AND APPROACH A
Page 69 and 70:
such as Illimausaq in Greenland, a
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13. SAMPLE PREPARATION, ANALYSES AN
Page 73 and 74:
limited set of elements; however, s
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CONCLUSIONS Avalon’s conclusions
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Tb and Dy) were routinely monitored
Page 79 and 80:
As part of the QA/QC program, Avalo
Page 81 and 82:
Table 14-4: Comparison of Niobium,
Page 83 and 84:
shows more deviation, with ALS MS81
Page 85 and 86:
16. MINERAL PROCESSING AND METALLUR
Page 87 and 88:
In a typical test, for example CCr-
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17. MINERAL RESOURCE AND MINERAL RE
Page 91 and 92:
9. TREO equivalent is estimated by
Page 93 and 94:
Table 17-4 Sample Information Avalo
Page 95 and 96:
Figure 17-1 Distribution of REO Com
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Assay Statistics for Upper Zone* *
Page 99 and 100:
CUT-OFF GRADE A previous public res
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underneath for SG measurement purpo
Page 103 and 104:
Figure 17-4 Density Measurements AL
Page 105 and 106:
was equal to 60 m by 60 m by 30 m a
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Table 17-12 Detailed Resource Break
Page 109 and 110:
Table 17-13 Indicated Mineral Resou
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Figure 17-7 Outline of Area of Indi
Page 113 and 114:
The recoveries estimated for the fl
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grades were based upon the grades w
Page 117 and 118:
Figure 18-1 Thor Lake Site Layout T
Page 119 and 120:
Scott Wilson RPA recommends the use
Page 121 and 122:
During discussions with the mine de
Page 123 and 124:
Figure 18-4 Mine Layout Some of the
Page 125 and 126:
Figure 18-5 Mine Development Schema
Page 127 and 128:
Table 18-2 Development Tonnage Brea
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Until the crusher is in place and t
Page 131 and 132:
Lateral Development The access decl
Page 133 and 134:
Equipment will be selected based up
Page 135 and 136:
Table 18-6 Estimated Electrical Loa
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VENTILATION The mine ventilation is
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for closing unused areas and for ch
Page 141 and 142:
Mine Fan Horse Power Using the same
Page 143 and 144:
Paste Fill System A paste fill syst
Page 145 and 146:
Communications Mine communications
Page 147 and 148:
completion of the 30 m to 50 m long
Page 149 and 150:
HEALTH AND SAFETY All crew will be
Page 151 and 152:
The crushing plant is designed for
Page 153 and 154:
Table 18-12 (Cont’d) Principal Pr
Page 155 and 156:
Figure 18-9 Hydrometallurgical Plan
Page 157 and 158:
The Pine Point hydrometallurgical f
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Decant pipeworks have been included
Page 161 and 162:
• Development of pre-feasibility
Page 163 and 164:
Design Basis The pre-feasibility le
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non-woven geotextile) to prevent da
Page 167 and 168:
divert surface drainage away from r
Page 169 and 170:
A high pressure (200 psi) compresse
Page 171 and 172:
Fuel deliveries are assumed to be s
Page 173 and 174:
Mill Supplies The key mill supplies
Page 175 and 176:
Table 18-15 Surface Equipment Fleet
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Figure 18-10 Thor Lake Temporary Ba
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• Together with the unloading log
Page 181 and 182:
it will be necessary to upgrade the
Page 183 and 184:
Table 18-16 Hydrometallurgical Plan
Page 185 and 186:
Table 18-17 Surface Mobile Equipmen
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Rare Earth FOB China* FOB China** P
Page 189 and 190:
• loparite and eudialyte in alkal
Page 191 and 192:
Table 18-18 Rare Earth supply - 200
Page 193 and 194:
Table 18-20 Rare Earth Demand by Ap
Page 195 and 196:
Table 18-22 Proposed New REO Projec
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in China. On this basis, Avalon is
Page 199 and 200:
Determine Prices for Avalon’s Pro
Page 201 and 202:
The balance of niobium supply is co
Page 203 and 204:
epresenting about 18% of total zirc
Page 205 and 206:
Table 18-25 Historic Chinese Export
Page 207 and 208:
Figure 18-16 Tantalum Markets - 200
Page 209 and 210:
the price for tantalum chemicals in
Page 211 and 212:
Surface Hydrology The Thor Lake dra
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seven) have occurred more frequentl
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elative to uranium, the overall eff
Page 217 and 218:
interviews conducted for the nearby
Page 219 and 220:
Wildlife Early science-based wildli
Page 221 and 222:
Other environmental permits/approva
Page 223 and 224:
TAXES The NWT diesel tax has been i
Page 225 and 226:
Table 18-31 Mine Capital Cost Estim
Page 227 and 228:
Table 18-33 Surface Infrastructure
Page 229 and 230:
Table 18-36 Indirect Cost Estimate
Page 231 and 232:
Table 18-37 Contingency Allowance A
Page 233 and 234:
Operating Cost Exclusions The opera
Page 235 and 236:
Table 18-40 Underground Mine Cost S
Page 237 and 238:
Table 18-41 Mine Cost Details Avalo
Page 239 and 240:
Thor Lake Surface The Thor Lake sur
Page 241 and 242:
Table 18-45 Sales and Marketing Cos
Page 243 and 244:
Table 18-47 Rail Car Load Limits Av
Page 245 and 246:
there will be no overhauls in the i
Page 247 and 248:
Other supplies and freight will be
Page 249 and 250:
Table 18-55 Hydrometallurgical Plan
Page 251 and 252:
Table 18-56 Cash Flow Summary Techn
Page 253 and 254:
The sensitivity of the base case 8%
Page 255 and 256:
19. INTERPRETATION AND CONCLUSIONS
Page 257 and 258:
• The Mineral Reserves, which hav
Page 259 and 260:
20. RECOMMENDATIONS The authors of
Page 261 and 262:
21. REFERENCES BCC Research (2009):
Page 263 and 264:
MDN Inc (2010): News Release Melvil
Page 265 and 266:
Wardrop Engineering Inc. (2009): Th
Page 267 and 268:
23. CERTIFICATES OF QUALIFIED PERSO
Page 269 and 270:
CERTIFICATE OF QUALIFIED PERSON I,
Page 271 and 272:
CERTIFICATE OF QUALIFIED PERSON I,
Page 273 and 274:
Section 416000 Section 416100 Secti
Page 275 and 276:
Page 277 and 278:
Page 279 and 280:
Technical Report 43-101 - March 13,
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