LOCATION, ACCESS AND OWNERSHIP
Avalon’s Lilypad Lakes Project consists of 14 claims totalling 3,108 ha, covering a field of lithium, tantalum and cesium-rich granitic pegmatites. The claims were staked by Avalon between January 1999 and October 2000 and are 100% owned by the company. The property is located 150 km northeast of Pickle Lake, Ontario near the Aboriginal community of Fort Hope of the Eabametoong First Nation. It is presently accessible by air.
An initial reconnaissance mapping and sampling program carried out by Avalon in 1999 confirmed the presence of economically-significant lithium-cesium-tantalum mineralization at several locations on the property.
Rare metal pegmatites on the Lilypad Lakes property occur over a minimum area of 10 km2. Diamond drilling conducted by Avalon (2001-2003) was focused on tantalum. All pegmatites exhibit good continuity to depth, high degrees of fractionation and are enriched in cesium, rubidium and lithium, as well as tantalum. Lithium occurs primarily in both spodumene and lepidolite in the dykes explored to date.
Drill intercepts from the 2000-2001 drilling with lithium values are listed in the table below. Nine drill holes encountered lithium above the 0.6% cutoff for the intercept, with some holes with multiple intercepts. For example, drill hole LRD01-22 had three separate intercepts including 1.0% Li2O over 3m, 1.0% Li2O over 18.45m and 1.07% Li2O over 3.7m - all of which were accompanied by cesium values at greater than 1% Cs2O.
Lithium Intercepts at Lilypad Lakes Property, with a reporting cutoff of 0.6% Li2O
|Drill Hole||From (m)||To (m)||Width (m)||Li2O %||Cs2O %|
Selected Significant Tantalum and Cesium Intercepts
na = no analysis
SD drill holes completed by Tanco
un = unavailable
PROJECT TIMELINE AND FUTURE PLANS
Encouraging for the future development of the Lilypad Lakes property is the fact that significant mineral discoveries to the north (the Ring of Fire) have prompted discussions involving the Ontario government about developing road access to the area. This would greatly enhance the economic viability of any mineral deposits present in the region, including the lithium-tantalum-cesium deposits at Lilypad Lakes.
Tantalum prices have increased significantly since the property was first explored - from about $81/kg in 2001 to $193/kg in 2017 (USGS; for tantalite mineral in US$ per kg of Ta2O5). In addition, lithium prices have also increased strongly due to the growing demand for rechargeable lithium batteries. As a result, Avalon is planning to re-activate the project with an exploration program in 2018 that will be focused on lithium. This program will include geological mapping and sampling, as well as geochemical surveys.