Avalon Outlines Strategic Direction and Provides Update on 2023 Activities
posted on
May 15, 2023 07:08AM
Creating A Supply Chain to Serve the Needs of Battery & Ceramic Manufacturers
Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF), a lithium-focused mineral development company advancing critical mineral projects to support the North American clean technology supply chain, is pleased to outline Avalon's strategic direction and provide an update on key 2023 activities.
Recent Highlights
"Avalon's new strategic direction, and the key to unlocking shareholder value, focuses on advancing Separation Rapids through continued exploration and project development work," commented Zeeshan Syed, President of Avalon. "Accelerated growth within our entire lithium portfolio will position the Company as a substantial contributor to the North American critical minerals sector. Importantly, this mandate is supported by plans to assemble an execution-focused team of professionals at the corporate and Board level."
Focused on Lithium Growth
Avalon's new strategy is focused on organic growth of its lithium portfolio, as well as finding strategic growth opportunities in the region. Growth at Separation Rapids will be advanced through drilling and project permitting work.
Planned activities in H2 2023 will comprise of exploration work across all lithium projects including:
Development Initiatives
Further baseline test work continues this year to thoroughly understand and de-risk the site in preparation for future development and production activities, with a plan to submit the permitting application in late 2023. In addition, early discussions and a draft study are underway for a powerline to site.
Lithium Conversion Facility
The proposed lithium hydroxide conversion facility is an important part of Avalon's growth strategy. Future activities include:
Community and Indigenous Engagement
Avalon looks to build upon a foundation of partnership with indigenous communities and seeks to elevate all forms of communication, partnerships and opportunities. Initial work has begun on community engagement and planning sessions with Indigenous groups. The Company's discussions will include participation from various groups and include former six term Chief of the Eabametoong First Nation, Harvey Yesno, who also serves as a director on Avalon's Board.
Dr. Bill Mercer, P. Geo. (ON). is a qualified person for the purposes of National Instrument 43-101 and has reviewed and approved the technical information included in this news release.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian mineral development company specializing in sustainably-produced materials for clean technology. Avalon is currently focusing on developing its Separation Rapids Lithium Project near Kenora, Ontario while continuing to advance other projects, including its 100%-owned Lilypad Spodumene-Cesium-Tantalum Project located near Fort Hope, Ontario. Social responsibility and environmental stewardship are corporate cornerstones.
For questions and feedback, please e-mail the Company at ir@AvalonAM.com, or phone Zeeshan Syed, President, directly at (647) 300-4706.