Elemental Royalties Notes Steady State Operations Achieved at Karlawinda, 24,329 Ounces Gold Production in Q3 2021
Elemental Royalties Notes Steady State
Operations Achieved at Karlawinda,
24,329
Ounces Gold Production in Q3 2021
VANCOUVER, BC
,
Oct. 12, 2021
/CNW/ - Elemental Royalties Corp. ("
Elemental
" or "the
Company
") (TSXV: ELE) (OTCQX: ELEMF) is pleased to note the recent update by Capricorn
Metals Limited (ASX: CMM) ("
Capricorn
") announcing Steady State Operations have been achieved
at the Karlawinda Gold Project. Elemental acquired a 2% NSR on Karlawinda in
February 2021
.
"Steady state production from our largest royalty with a 10+ year mine life is a major milestone,"
Frederick Bell
, CEO of Elemental commented.
"Karlawinda will almost double our royalty revenue
and underpins the long-term outlook for Elemental with increased diversification and exposure to a
tier 1 jurisdiction in
Western Australia
.
With multiple performance metrics already being exceeded, the potential for production to
outperform guidance is particularly exciting and emphasises the optionality in Elemental's high-
quality portfolio of producing royalties."
Highlights
During the
September 2021
quarter, Capricorn completed commissioning and ramp-up
activities, achieving guided throughput rates on a steady-state basis
Gold production of 24,329 ounces with an above budget 92.6% recovery
Mining volumes expected to increase in the
December 2021
quarter with the second mining fleet
now onsite and operating at full capacity
From August mill throughput has been above budgeted throughput rate for harder laterite ore
Processing plant throughput and grade expected to increase as higher grade and soft oxide ore
mined in
December 2021
quarter
Construction and commissioning of two additional CIL tanks providing additional leaching time
for anticipated higher processing plant throughput is nearing completion
Production for the year ending
June 30, 2022
, is expected to be 110,000 – 120,000 ounces
inclusive of commissioning production
Multiple near-pit exploration projects advanced during the quarter and are awaiting assays
Additional CIL Construction at Karlawinda (CNW Group/Elemental Royalties Corp.)
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and Director
www.elementalroyalties.com
Elemental is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
or contact 604-653-9464.
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V in
Canada
and provides investors
with lower risk precious metals exposure through a portfolio of nine high-quality royalties. This
enables investors to benefit from ongoing royalty revenue, future exploration upside and low
operating costs. Elemental's experienced team seeks to secure royalties in advanced precious
metals projects, run by established operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans
, FAusIMM, is Senior Vice President Technical for Elemental, and a qualified person
under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and
approved the scientific and technical disclosure contained in this press release.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies
of the TSX-V.) accepts responsibility for the adequacy or accuracy of this press release.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and certain "forward-looking information"
as defined under applicable Canadian securities laws. Forward-looking statements and information
can generally be identified by the use of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect
to the future growth and development of the Company. Forward-looking statements and information
are based on forecasts of future results, estimates of amounts not yet determinable and
assumptions that, while believed by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and contingencies. Forward-looking
statements and information are subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of Elemental to control or predict, that may cause Elemental's actual
results, performance or achievements to be materially different from those expressed or implied
thereby, and are developed based on assumptions about such risks, uncertainties and other factors
set out herein, including but not limited to: the requirement for regulatory approvals and third party
consents, the impact of general business and economic conditions, the absence of control over the
mining operations from which Elemental will receive royalties, including risks related to international
operations, government relations and environmental regulation, the inherent risks involved in the
exploration and development of mineral properties; the uncertainties involved in interpreting
exploration data; the potential for delays in exploration or development activities; the geology, grade
and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent with Elemental's expectations;
accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties
relating to the availability and costs of financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and expenses, commodity
price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory
restrictions; liability, competition, loss of key employees and other related risks and uncertainties.
Elemental undertakes no obligation to update forward-looking information except as required by
applicable law. Such forward-looking information represents management's best judgment based on
information currently available. No forward-looking statement can be guaranteed, and actual future
results may vary materially. Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE
Elemental Royalties Corp.
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For further information:
Investor Inquiries: Dustin Zinger, Investor Relations Manager, Direct: +1
(604) 653-9464, Email: [email protected]
CO: Elemental Royalties Corp.
CNW 07:00e 12-OCT-21