Electric Royalties Provides Update on 8 Assets Within Royalty Portfolio
Electric Royalties Provides Update on 8
Assets Within Royalty Portfolio
VANCOUVER, BC
,
Sept. 23, 2021
/CNW/ - Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF)
("Electric Royalties" or the "Company") is pleased to announce an asset update on its current royalty
portfolio.
Brendan Yurik
, CEO of Electric Royalties, highlights, "It's been an incredible period of growth since
our last asset update in July and we've had several more developments across the assets underlying
our battery metal royalty portfolio." These include:
Authier Lithium Royalty
- Sayona has completed the acquisition of North American Lithium and
is outlining a path to production which includes the
Authier
lithium project as a part of their
strategy.
Bissett Creek Graphite Royalty
- Northern Graphite has continued to advance concentrate
studies showing that its graphite concentrates can easily be purified to battery standards using
either acid or alkaline based processes.
Millennium Copper-Cobalt Royalty
– Global Energy Metals announced some exciting drill
intercepts including
16 m
@ 1.07% Cu, 0.26% Co and 0.40 g/t Au. The results provide
confidence in the potential for confirmation and growth of the historical resource.
Battery Hill Manganese Royalty
- Manganese X Energy has filed the technical report for its
updated resource estimate ahead of a Preliminary Economic Assessment expected in the near
future.
Chubb Lithium Royalty
– After a successful spring drill program in which 1.48% Li
2
O over
12.7 m
was intersected in diamond drill hole ("DDH") 21-CH-15, Great Thunder Gold has
proposed a
5,000 m
drill program to commence this winter.
Yalbra Graphite Royalty
– Elmore Ltd started a review of Buxton's extensive library of sample
material and undertaken flotation test work to advance the project.
Graphmada Graphite Royalty
– Bass Metals released an exploration update on current efforts
to expand the mineralized zone with 140 new drill holes completed.
Mont Sorcier Vanadium Royalty
– Vanadium One Iron Corp. released a positive update on
their current infill drill program of
15,000 m
currently underway and signed an MOU with planned
commitments of a combined
$66 million
from the Federal and
Quebec
governments.
"It is tremendously encouraging to see the constant positive news flow being generated by operators
across our royalty portfolio at all levels of development. From progressive drill programs on our
earlier stage royalties such as Millennium and Chubb, where they are actively drilling the projects to
test and expand deposits, to Sayona completing its acquisition of NAL and putting
Authier
on a path
to production in the near term, the value potential of our royalties is accelerating, and funded at no
cost to Electric Royalties."
Authier Lithium Royalty – 0.5% of Gross Revenue
Sayona Mining Limited ("Sayona") (ASX: SAY) announced on
August 30, 2021
that Sayona (75%)
and Piedmont Lithium (25%) have completed the acquisition of North American Lithium ("NAL"). The
planned restart of this former producer and its integration with Sayona's
Authier
and Tansim lithium
projects creates the potential to build a
Quebec
lithium production hub and become a leading lithium
producer (see Sayona Mining news release dated
August 30, 2021
).
Preparations are now advancing for the resumption of operations at NAL, with a scoping study
underway for the profitable production of spodumene (lithium) concentrate.
Sayona completed a highly successful
A$45 million
placement and a
A$20 million
share
purchase plan, both of which were heavily oversubscribed (see Sayona release
23 August
2021
).
Bissett Creek Graphite Royalty – 1% of Gross Revenue and an option to increase the royalty
by 0.5%
Northern Graphite Corporation ("Northern Graphite") (TSXV: NGC) announced that purification
testing carried out on graphite concentrates from its
Bissett Creek
deposit has demonstrated that
concentrate can be purified to battery standards using either acid or alkaline based processes. This
is the second phase of testing in evaluating use of
Bissett Creek
concentrates in the manufacture of
lithium ion battery anode material ("BAM"). The results were excellent and comparable to the
performance of thermal purification as undesirable element levels were far below the typical limits
required for BAM. Testing was carried out by ProGraphite, which is located in
Germany
and is one
of the world's leading graphite R&D laboratories with several decades of professional expertise and
experience (see Northern Graphite news release dated
August 16, 2021
).
Millennium Copper-Cobalt Royalty -
0.5% of Gross Revenue and options to acquire an
additional 1.5% Net Smelter Revenue Royalty
Global Energy Metals Corp. ("Global Energy Metals") (TSXV: GEMC) announced the results from a
preliminary drilling program of seven holes for 673 metres ("m") completed at the Millennium Cu-Co-
Au Project in northwest
Queensland
as part of Metal Bank Limited's exclusive option to earn-in up to
80% of the project (see Global Energy Metals news release dated
September 8, 2021
).
High grade copper ("Cu") and cobalt ("Co") was intersected in the first two holes at the northern
margin of the southern zone with results including:
MI21RC01 –16 m @ 1.07% Cu, 0.26% Co and 0.40 g/t Au from
80 m
including 5 m
@ 2.92% Cu, 0.50% Co and 1.19 g/t Au from
82 m
.
MI21RC02 –
2 m
@ 0.29% Co from
41 m
and
3 m
@ 0.59% Cu, 0.14% Co from
84 m
.
Results from Hole MI21RC01 support up-dip continuity of mineralisation into an area outside the
area modelled in 2016 and in addition, identify potential for lateral extension to the north. Hole
MI21RC02 validates the existence of the mineralization in an area of structural complexity.
Initial RC drill testing of the Northern Area has been completed with visual copper oxides and
sulphides observed. Results are pending.
Battery Hill Manganese Royalty – 2% of Gross Revenue
Manganese X Energy Corp. ("Manganese X Energy") (TSXV: MN) announced that a Mineral
Resource Estimate ("MRE") technical report by Mercator Geological Services Limited for the
Battery Hill Manganese project (the "Project") was posted on
www.sedar.com
on
August 20, 2021
.
The technical report summarizes all exploration work on the property, including historical and recent
diamond drilling by Manganese X that forms the basis of the MRE and makes recommendations for
further exploration and development work on the Project (see Manganese X Energy news release
dated
September 9, 2021
).
Yalbra Graphite Royalty – 0.75% of Gross Revenue
During the current quarter ended
June 30, 2021
, Elmore Ltd. (an ASX-listed company that provides
the equipment and expertise that mining companies need to deliver saleable products) has reviewed
Buxton Resources Ltd's (ASX: BUX) extensive library of sample material and undertaken flotation
test work with a view to utilising their process equipment and technical expertise to develop an
optimised metallurgical process for the Yalbra Project. This work will continue over the coming
quarter (see Buxton Resources news release dated
July 31, 2021
).
Graphmada Graphite Royalty – 2.5% of Gross Concentrate Revenue
Bass Metals Limited ("Bass Metals") (ASX: BSM) provided an update on further exploration success
at its wholly owned Graphmada Mining Complex, located in eastern
Madagascar
(see Bass Metals
news release dated
July 7, 2021
). Highlights include:
Completion of a further 140 shallow auger drill holes, to an average depth of
12 m
from surface.
The results of which continue to demonstrate the regolith hosted graphite mineralization footprint
is extensive, both laterally and in width.
At Ambatofafana-West additional augering confirmed at least 1 graphite zone over a strike
length of approximately
600 m
and widths of approximately 100 –
450 m
and open-ended North-
South. Results include
4.0 m
@ 9.8% FC ("fixed carbon") within a broader interval of
11.5 m
@
5.9% FC.
At Ambatofafana-East, augering to date confirmed at least 3 graphite zones over strike lengths
of approximately 250-
450 m
and widths of approximately 50-
100 m
and open-ended North-
South. Results include
6.0 m
@ 7.5% FC within a broader interval of
11.5 m
@ 5.2% FC.
Further auger results to the north and south are still pending.
1 wildcat drill hole located further to the north-west of Ambatofafana intersected a graphite zone
and results include
4.5 m
@ 14.8% FC within a broader interval of
11.5 m
@ 9.6% FC. This
appears to be a part of the Mahela-South graphite zone and will need further investigation and
augering.
Chubb Lithium Royalty – 2% of Gross Revenue
Great Thunder Gold Ltd. ("Great Thunder Gold") (CSE: CTG) announced that it plans a winter
drilling program at the Chubb Lithium Project,
Quebec
(see Great Thunder Gold news release dated
September 10, 2021
). Following its successful spring Phase 1 drill program, Great Thunder Gold
has entered into a drilling contract to secure a diamond drill rig to be on standby awaiting optimal
winter drilling conditions for the Phase 2 program. Drilling will commence as soon as the ground is
frozen.
The contract is for a minimum of
5,000 m
with one drill rig and is planned to continue to define the
lithium bearing pegmatite to the south of the Main Dyke. Phase 1 drilling consisted of 15 diamond
drill holes totalling
2,283 m
. All 15 completed drill holes intersected pegmatite and/or spodumene
pegmatite with lithium values, with the Main Dyke values being of the greatest value and a key focus
for continued drilling this winter.
The spring 2021 drilling program defined the Main Dyke to a length of more than 350 metres and
was stopped short due to weather conditions. This drilling demonstrated that the grade and width of
the lithium bearing pegmatite improved towards the south with 1.48% Li
2
O over
12.7 m
in diamond
DDH 21-CH-15, the final spring hole drilled to the south.
Mont Sorcier Vanadium Royalty – 1% of Gross Vanadium Revenue
Vanadium One Iron Corp. ("Vanadium One") (TSXV: VONE) reported that the goal of its 2021 drill
program on the Mont Sorcier project is to upgrade a sufficient portion of the current Inferred Mineral
Resources to the Measured and Indicated Categories in order to support at least a 20-year mine life
as the basis for a feasibility study expected to commence later this year or early 2022. The drill
program comprises up to
12,500 m
in 34 holes in the North Zone and
2,500 m
set aside for the
South Zone. As reported in the NI 43-101 Technical Report - Mineral Resource Estimate of the Mont
Sorcier project, Province of
Quebec, Canada
completed by CSA Global and dated
June 25, 2021
,
the South Zone contains 113.5 Mt Indicated mineral resources at 30.9% Magnetite and
144 Mt
Inferred resources at 24.9% Magnetite and the North Zone has 809.1 Mt inferred mineral resources
at 34.2% Magnetite[1]. The Technical Report is available on SEDAR or on Vanadium One's website.
To date in 2021, over
4,000 m
have been completed in 10 drill holes in the North Zone and assays
results are expected by mid-August. Visual examination and magnetic test (MPP) of the drill core to
date supports the intersection of mineralized material as predicated by the current resource outline
(see Vanadium One Iron Corp. news release dated
July 29, 2021
).
Vanadium One also announced that it has signed a non-binding Memorandum of Understanding
("MOU") with the Port of Saguenay to mutually advance the development of the Mont Sorcier project
and the planned use of the port to export iron ore concentrates. The MOU outlines the intent of the
parties to work collaboratively to develop a strategic plan for future orehandling, yard setup, lay-
down and ship loading facilities at the Port of Saguenay to support the future requirements of the
Mont Sorcier iron and vanadium project (see Vanadium One Iron Corp. news release dated
August
19, 2021
).
David Gaunt
, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed
and approved the technical information in this release.
On Behalf of the Board of Directors,
Brendan Yurik
CEO
About Electric Royalties Ltd
.
Electric Royalties is a royalty company established to take advantage of the demand for a wide
range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc & copper)
that will benefit from the drive toward electrification of a variety of consumer products: cars,
rechargeable batteries, large scale energy storage, renewable energy generation and other
applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to
increase significantly over the next several years and with it, the demand for these targeted
commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and
projects that will supply the materials needed to feed the electric revolution.
Electric Royalties has a growing portfolio of 17 royalties, including one royalty that currently
generates revenue. The Company is focused predominantly on acquiring royalties on advanced
stage and operating projects to build a diversified portfolio located in jurisdictions with low
geopolitical risk, which offers investors exposure to the clean energy transition via the underlying
commodities required to rebuild the global infrastructure over the next several decades towards a
decarbonized global economy.
www.electricroyalties.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange
platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company
Information
This news release includes forward-looking information and forward-looking statements
(collectively, "forward-looking information") with respect to the Company within the meaning of
Canadian securities laws. Forward looking information is typically identified by words such as:
believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those,
which, by their nature, refer to future events. This information represents predictions and actual
events or results may differ materially. Forward-looking information may relate to the Company's
future outlook and anticipated events and may include statements regarding the financial results,
future financial position, expected growth of cash flows, business strategy, budgets, projected
costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth
opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information
available, they may prove to be incorrect. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results, performance or
achievements of the Company or these projects to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements. These
risks, uncertainties and other factors include, but are not limited to risks associated with general
economic conditions; adverse industry events; marketing costs; loss of markets; future legislative
and regulatory developments involving the renewable energy industry; inability to access sufficient
capital from internal and external sources, and/or inability to access sufficient capital on favourable
terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax
and regulatory matters; the ability of the Company or the owners of these projects to implement
their business strategies including expansion plans; competition; currency and interest rate
fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR as well as other information
filed with the OTC Markets for a more complete discussion of all applicable risk factors and their
potential effects, copies of which may be accessed through the Company's profile page at
www.sedar.com
and at otcmarkets.com.
_________________________
1
Mineral resources are reported at a cut-off grade of 2.50% Mn within the optimized pit shell. Pit optimization parameters include: pricing of US$1500/tonne for High Purity
Manganese Sulphate Monohydrate (HPMSM) - 32% Mn (HPMSM - 32 %), exchange rate of CDN $1.30 to US$ 1.00, mining at CDN $6.50/t, combined processing and G&A (1000
tpd) at CDN $86.22/t processed and a process recovery of Mn to HPMSM of 65%. Fe content was not included in the pit optimization.
SOURCE
Electric Royalties Ltd.
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For further information:
Brendan Yurik Tel: (604) 364-3540, [email protected]
CO: Electric Royalties Ltd.
CNW 07:45e 23-SEP-21