Inferred tonnes drive rare earth growth in Avalon update
Contained resource at Nechalacho rare earths project in the Northwest Territories raised by 42%.
Avalon Advanced Materials has updated its resource estimate for its Nechalacho rare earths project in the Northwest Territories, raising the global contained resource by 42%. The updated estimate now shows 58.6 million measured and indicated tonnes grading 1.49% total rare earth oxides (TREO), equivalent to 875,000 tonnes of contained TREO.
The update highlights a significant increase in inferred resources, which more than doubled to 130.6 million tonnes at 1.31% TREO for 1.7 million contained tonnes. The higher economic threshold used in the update, at $366.40 per tonne, is 14% higher than the cut-off used in the 2013 report and may exclude lower-value material at the project.
Avalon CEO Scott Monteith highlighted the project's potential to provide exposure to a broad range of rare earth elements, including the four principal magnet rare earths and several others, as governments and industry focus on securing Western supply chains for critical minerals.
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