Avalon soars on updated REE resource

摘要

Shares of Avalon Rare Metals (avl-t, avarf-o) rose 11.2% or 23c apiece to close at 2.28 dollars on news t hat an updated resource estimate fur its Ncchalacho deposit at Thor Lake in Canada's Northwest Territories, now makes it the second-largest rare earth element deposit in the world by reported total rare earth oxides (TREO) and the third-largest niobium deposit. The updated resource estimate does not even include drill results from the winter 2010 program and is based on the same assays of 155 drill holes through the end of 2009, in addition to the re-assay of core from six historical drill holes, which were used in the previous estimate of Jan. 14.