Resource World Magazine

A P R I L / M A Y 2 0 1 9 www.resourceworld.com 31 • Low-risk investment jurisdic on* • Wide range of early and advanced stage projects seeking investment • Modernized mining legisla on in progress to improve processes, increase certainty • Strong resident support and indigenous engagement in mining sector • New transporta on infrastructure to improve access to mineral resources *4 th of 85 jurisdic ons - Mining Journal 2018 World Risk Report NWTGEOSCIENCE.CA: E-mail: ntgs@gov.nt.ca T: 867-767-9211 Ext. 63469 NWTMINING.COM: E-mail: mining@gov.nt.ca T: 867-767-9209 Ext. 63160 World-class resources are discovered in Canada's Northwest Territories Come see for yourself. ing announcements that were initiated but this new money will allow us to do some of this work on unexplored areas and help prove out the region. NORTHWEST TERRITORIES PROJECT PROFILES Avalon Advanced Materials Inc. [AVL- TSX; AVLNF-OTCQX] recently brought in a new partner to participate in the development of rare earth resources at the Nechalacho Project at Thor Lake near Yellowknife – private Australian company Cheetah Resources Pty. Ltd. Under the terms, Cheetah will acquire ownership of the near-surface resources in the T Zone and Tardiff zones for a total cash consideration of $5 million, while Avalon will retain ownership of the resources in the Basal Zone, which was the subject of its 2013 feasibility study. Avalon will continue to manage work programs and retain its 3% net smelter return royalty. After the formal agree - ment is signed, a new work program will be initiated focusing on the T Zone rare earth resources. Metals of interest include neodymium, praseodymium, lithium, zir- conium, beryllium, niobium and tantalum. A positive feasibility study was completed in 2013. Clean Commodities Corp. [CLE-TSXV] acquired the Phoenix lithium (spodumene) project from North Arrow Minerals and is approximately 70 km southeast of the Diavik Diamond Mine and less than 60 km from existing winter road infrastructure. The Phoenix Project hosts the Big Bird and Curley lithium-rich pegmatite deposits. The Big Bird pegmatite has been mapped over a 1,280-metre strike length with observable outcrop widths ranging from 8 to over 80 metres. Past drilling at the Big Bird pegmatite returned 1.24% Li 2 O over 34.3 metres. The Curlew pegma- tite has been mapped over a strike length of 400 metres with widths up to 20 metres. Past drilling at the Curlew pegmatite returned 1.72% Li 2 O over 14.87 metres. An independent conceptual geologic model has been prepared. Copper North Mining Corp. [COL- TSXV] has a 100% interest in the Redstone copper project in the Nahanni District about 115 km northeast of Tungsten. It is the second largest high-grade (>2.5% Cu) undeveloped copper deposit in the world with an historic resource of 33.4 Mt of 3.92% copper and 11.3 g/t silver. Drill tar - gets are ready. The company is seeking a partner. Dominion Diamond Corp. (private), affiliated with The Washington Companies, has a 40% interest (Rio Tinto 60%) in the Diavik diamond mine 300 km northeast of Yellowknife. In October 2018, the largest known gem quality diamond ever found in North America was recovered – the 552- carat yellow Canadamark™ diamond. The mine produces over 6 million carats per year. Dominion Diamond has varied inter - ests in the nearby Ekati diamond mine. As of January 2017, proven and prob- able reserves stood at 105.4 million carats. Indicated resources are 19.8 million carats. Evrim Resources Corp. [EVM-TSXV] released surface sampling results from its two-year exploration alliance with a wholly-owned subsidiary of Newmont Mining Corp. The alliance is focused on a 23,250 km 2 prospective land package along the border of the Yukon and Northwest Territories to seek world-class gold depos- its and resulted in the acquisition of the Astro gold project. At the Astro Project, chip sampling at the Radio prospect returned 11.6 g/t gold over 18.0 metres, including 32.1 g/t gold over 6.0 metres. Chip sampling at the Microwave prospect returned 4.68 g/t gold over 7.5 metres, including 6.73 g/t gold over 3.0 metres. Approximately 40 metres east is a second zone of mineraliza - tion grading 2.25 g/t gold over 11.0 metres. Mineralized intersections at the Radio and Microwave prospects are open along strike in both directions. Newmont is deciding if it will advance the alliance to an 80% earn-in option. NORTHWEST TERRITORIES

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