APRIL 26, 2016 :
Avarone commences trading on XETRA platform of Frankfurt Stock Exchange
Vancouver, B.C., APRIL 26, 2016 - Avarone Metals Inc. (CSE: AVM) (Frankfurt: W2U1; WKN: A14SVX) (the "Company" or "Avarone") is pleased to announce that its common shares have been accepted for trading on the electronic trading platform Xetra of the Frankfurt Stock Exchange under the ticker symbol W2U1 and WKN: A14SVX with ISIN CA05351M2040. The Frankfurt Stock Exchange ranks third in terms of volume, behind New York and NASDAQ, and more than 90 percent of all trading in shares at all German exchanges is transacted through Xetra.
BankM helped facilitate the Xetra listing and will also act as Avarone's designated sponsor on the electronic trading platform. Designated sponsors secure higher liquidity and better pricing by quoting binding bid/offer prices with a tight spread, and enabling trading on the Xetra trading venue.
"We are pleased to have Avarone accepted for trading on the Xetra electronic trading platform. Germany, Switzerland and Austria have a robust market for retail and institutional investors who follow the industrial mining and exploration industry, with keen interests in lithium. Our objective is to continue to broaden our shareholder base throughout Europe," said CEO Marc Levy.
About Lithium in Nevada
Lithium is a scarce and technologically important element produced primarily from brines and pegmatites. Although it is a non-renewable resource, it is used in conjunction with renewable energy technologies and hybrid automobiles, primarily in the form of Li-ion batteries, currently the most widely applied battery technology in many electronic devices. The consumption of lithium carbonate is on the rise and so far global production has kept pace with demand.
Located in the Range Province in southern Nevada, the Big Smoky Valley, which is approximately 3km wide and 14km long, is an internally drained, fault bounded and closed basin. Geological modeling suggests that lithium-rich brines have been transported and deposited in the both the Clayton and Big Smoky valleys since the Pleistocene era. The primary exploration model is to identify and map basins with ground gravity surveys and evaluate the chemistry of salts and sediments therein with RC or rotary-mud drilling. In the later stages of exploration, downhole geophysics and seismic reflection surveys are also utilized to define lithium-bearing aquifers.
The technical content of this news release has been prepared under the supervision of Peter Born, P. Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
On behalf of the Board of Directors,
AVARONE METALS INC.
Marc Levy, CEO
www.avarone.com
For more information contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. We seek Safe Harbor.
APRIL 21, 2016:
Avarone plans 20 short drill holes on Moab Lithium Brine Project
Vancouver, B.C., APRIL 21, 2016 - Avarone Metals Inc. (CSE: AVM) (Frankfurt: W2U; WKN: A0HM01) (the "Company" or "Avarone") is pleased to announce that it plans to commence a sub-surface sampling program to test brine sediments on its 100% owned Moab Lithium Project in the Big Smoky Valley, Nevada directly adjacent to claims controlled by Ultra Lithium.
The property wide program is to consist of up to 20 short drill holes, to be drilled to a depth of up to 4m, to test for lithium and other commercial elements in the upper layers of the playa. The drilling will be conducted utilizing Vibracore electric drills, pulling large diameter NQ2 core, which should provide a much better and accurate profile versus traditional hand augers. The Company is currently in the process of permitting the program and anticipates being on the ground at the end of April 2016. In December of 2015, Ultra Lithium completed surface sampling of its Big Smoky Project (which lies in the same enclosed basin and adjoins the Moab Project) confirming the presence of anomalous lithium, boron and potassium, as well the presence of lithium in the South Big Smoky hydrogeological system. Access to the Moab Lithium Project is excellent and lies adjacent to highway 95.
The primary target at Moab is a horseshoe shaped gravity low anomaly that has been interpreted as an in filled basin. Exploration of the Big Smoky Valley by the USGS in the 1970's culminated in the drilling of two Reverse Circulation holes, both of which encountered anomalous concentrations of lithium that were highly similar to those encountered in the Clayton Valley, just to the south, and where the Silver Peak Mine is located. Hole BS-13, which is located just 2.4 kilometers east of the Moab project border was designed to test the same basin covered by the Moab Project and Ultra Lithium's Big Smoky Valley Project. Hole BS-13 was terminated at 675 feet, and geochemical analysis revealed lithium in sediments ranging from 48ppm - 365ppm and averaging 160ppm. This is considered significant, as the cut-off grade used by Pure Energy for their resource calculation is only 20ppm.
"We are excited to start our initial phase of exploration work on the Moab project. Based on the initial results of this program, we intend to further define our next phase of an aggressive deep hole drill program. Tesla has taken over 325,000 reservations for the Tesla Model 3, which corresponds to about $14 billion in implied future sales. This supports the growing need for increased lithium production. Avarone's Moab brine project, located in Nevada near the Tesla Gigafactory, has the potential to deliver excellent returns for our stakeholders over the longer term.," said CEO Marc Levy.
About Lithium in Nevada
Lithium is a scarce and technologically important element produced primarily from brines and pegmatites. Although it is a non-renewable resource, it is used in conjunction with renewable energy technologies and hybrid automobiles, primarily in the form of Li-ion batteries, currently the most widely applied battery technology in many electronic devices. The consumption of lithium carbonate is on the rise and so far global production has kept pace with demand.
Located in the Range Province in southern Nevada, the Big Smoky Valley, which is approximately 3km wide and 14km long, is an internally drained, fault bounded and closed basin. Geological modeling suggests that lithium-rich brines have been transported and deposited in the both the Clayton and Big Smoky valleys since the Pleistocene era. The primary exploration model is to identify and map basins with ground gravity surveys and evaluate the chemistry of salts and sediments therein with RC or rotary-mud drilling. In the later stages of exploration, downhole geophysics and seismic reflection surveys are also utilized to define lithium bearing aquifers.
The technical contents of this news release have been prepared under the supervision of Peter Born P. Geo., a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors,
Avarone Metals Inc.
Marc Levy, CEO
www.avarone.com
For more information contact the Company at:
Telephone: (604) 669-9788
Facsimile: (604) 669-9768
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. We seek Safe Harbor.
MARCH 8, 2016:
Avarone to acquire Moab Lithium Brine Project, Nevada
VANCOUVER, BRITISH COLUMBIA-Avarone Metals Inc. (CSE:AVM) (FRANKFURT:W2U) (WKN:A0HM01) (the "Company" or "Avarone") is pleased to announce that it has entered into an agreement with an arms' length vendor to acquire a 100% interest in the Moab Lithium Project, which covers an area of 3200 acres of placer claims in the Big Smoky Valley, Nevada, directly adjacent to claims controlled by Ultra Lithium.
The Big Smoky Valley is located 25 km immediately north of the Clayton Valley, home to Albemarle's Silver Peak Lithium Mine, the only producing lithium brine facility in the United States and which has been in continuous operation since 1967. Recently, Esmeralda County Nevada has seen resurgence in exploration activity, culminating with Pure Energy's identification of a NI 43-101 inferred resource of 816,000 metric tonnes of lithium carbonate equivalent (LCE)* at a cut-off of 20mg/L in brine. (*Technical Report (2015) Spanjers, MS. PG.)
The Moab Lithium Project is located some 225 km SE of the Gigafactory site. Access to the Moab Lithium Project is excellent and lies adjacent to highway 95.
The primary target at the Moab Lithium Project is a horseshoe shaped gravity low anomaly that has been interpreted as an in filled basin. Exploration of the Big Smoky Valley by the USGS in the 1970's culminated in the drilling of two Reverse Circulation holes, both of which encountered anomalous concentrations of lithium that were highly similar to those encountered in the Clayton Valley, just to the south, and where the Silver Peak Mine is located. Hole BS-13, which is located just 2.4 kilometers east of the Moab project border was designed to test the same basin covered by the Moab Project and Ultra Lithium's Big Smoky Valley Project. Hole BS-13 was terminated at 200 m, and geochemical analysis revealed lithium in sediments ranging from 48ppm to 365ppm and averaging 160ppm. This is considered significant, as the cut-off grade used by Pure Energy for their resource calculation is only 20ppm.
"This acquisition is a key milestone as Avarone enters one of the hottest sectors in the resource and energy space: Lithium. The board believes that due to growing world demand for lithium, the Moab brine project located in Nevada near Tesla's Gigafactory, has the potential to deliver strong returns for our shareholders over the short and long term. We look forward to aggressively advancing work on this exciting project," said CEO Marc Levy.
The Company can earn a 100% interest in the Moab Lithium Project by completing the following, issuing 3,000,000 common shares upon Exchange approval, paying cash considerations totaling $200,000 over the next 3 years and completing $1,000,000 in qualified exploration expenditures within 3 years from the date of approval. A 1% gross overriding royalty has also been granted to the vendors, which can be purchased by the company at any time for $1-million.
About Lithium in Nevada
Lithium is a scarce and technologically important element produced primarily from brines and pegmatites. Although it is a non-renewable resource, it is used in conjunction with renewable energy technologies and hybrid automobiles, primarily in the form of Li-ion batteries, currently the most widely applied battery technology in many electronic devices. The consumption of lithium carbonate is on the rise and so far global production has kept pace with demand.
Located in the Range Province in southern Nevada, the Big Smoky Valley, which is approximately 3km wide and 14km long, is an internally drained, fault bounded and closed basin. Geological modeling suggests that lithium-rich brines have been transported and deposited in the both the Clayton and Big Smoky valleys since the Pleistocene era. The primary exploration model is to identify and map basins with ground gravity surveys and evaluate the chemistry of salts and sediments therein with RC or rotary-mud drilling. In the later stages of exploration, downhole geophysics and seismic reflection surveys are also utilized to define lithium bearing aquifers.
The technical contents of this news release have been prepared under the supervision of Peter Born P. Geo., a Qualified Person as defined in NI 43-101.
On behalf of the Board of Directors,
Avarone Metals Inc.
Marc Levy, CEO
www.avarone.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. We seek Safe Harbor.
Contact:
#507 - 700 West Pender Street
Vancouver, British Columbia
Canada V6C 1G8
Tel: 604-669-9788 ext. 105
Fax: 604-669-9768
CSE: AVM
www.avarone.com
info@avarone.com
