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MENAFN - ProactiveInvestors - Australia - 11/10/2012

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(MENAFN - ProactiveInvestors - Australia) Avalon Minerals (ASX: AVI) has delivered highly positive results from a recent Scoping Study that has confirmed the technical and economic viability for a copper-magnetite mining operation at the Viscaria Project in Sweden.

Importantly, the C1 copper cash operating costs, net of iron credits, for the base case and development case A open pit mining scenarios are predicted to be in the lower quartile of copper producers.

Key metrics for a base case open pit mining operation scenario include a net present value of US61 million on the production of 9,400 tonnes of copper and 382,000 tonnes of iron per annum, for C1 cash costs (net of iron credits) of US0.65 per pound.

The study outlined three other development scenarios, which by converting exploration targets to resources could increase the potential net present value to US111 million, US170 million and US198 million respectively.

These values are based on predicted C1 cash costs of US0.47 per pound, US1.03 per pound and US1.03 per pound respectively.

At the current copper price of around US3.69 per pound, the net present value for each of the three development scenarios would increase to US186 million, US272 million and US312 million respectively.

Development Case C envisages annual copper production of 25,500 tonnes and iron production of 519,000 tonnes.

Avalon will begin a major drill program in November 2012 aimed at converting exploration targets to resources to underpin delivery of the development cases outlined in the Scoping Study.

Drilling completed at the A and D Zone prospects earlier in 2012 showed that the copper and copper-magnetite mineralisation extends beyond the current resource boundaries, providing upside to the extension of the current resource.

 






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