VANCOUVER, BC / ACCESSWIRE / July 21, 2022 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide an asset update on its current royalty portfolio.
Brendan Yurik, CEO of Electric Royalties, commented: "It's exciting to see the advancement of our portfolio with two new resource estimates announced during the last month along with continued drilling at two more projects. At our Cancet and Seymour Lake lithium royalties, we have seen very quick progress over the past year with nearly A$100 million raised by the operators and significant work programs completed since November 2021."
Highlights since the Company's previous update on June 16, 2022:
- Seymour Lake Lithium Royalty - Green Technology Metals Limited (ASX: GT1) ("Green Technology Metals") announced on June 23, 2022 a new interim mineral resource estimate under JORC for the Seymour Lake lithium project in northwest Ontario on June 23, 20221. Indicated Mineral Resources more than doubled to 5.2 million tonnes at 1.29% lithium oxide and 161 ppm tantalum pentoxide using a 0.2% lithium oxide cut-off. The estimate reflects incorporation of the Phase 1 drilling program results, as well as four additional pegmatite bodies.
Green Technology Metals announced on July 8, 2022 that step out drilling had resumed at the North Aubry deposit. Targeted drilling at the Pye prospect is also expected to recommence shortly.
- Cancet Lithium Royalty - Winsome Resources Limited (ASX: WR1) ("Winsome") announced on June 14, 2022 results from the recently completed 22-hole infill drilling campaign at the Cancet lithium project in Quebec, Canada2. The results are from assays of the first 15 of 22 holes, with the remaining assays still pending. Electric Royalties is relying on the information provided by Winsome and is unable to verify the reported drill data.
Resource definition drilling is planned for Cancet in fall 2022 and into early 2023. The drill program is designed to further delineate the strike, zonation, and grade continuity of the mineralized pegmatite body, contributing to an inaugural resource which Winsome is aiming to release in early 2023, and to test additional targets.
- Graphmada Graphite Royalty - On June 22, 2022, Greenwing Resources Ltd. (ASX: GW1) ("Greenwing") reported on its research and development activities in collaboration with Swinburne University of Technology ("Swinburne"). Greenwing's collaboration with Swinburne has achieved the characterization of graphene as defined by International Organization for Standardization (ISO standards). Greenwing reported that its graphene from the Graphmada Mining Complex in Madagascar has been produced to this high standard in an ISO 9001 facility.
This milestone is a key step in Greenwing's plans to create a patentable and environmentally-friendly process to produce advanced materials such as expandable graphite and graphene. Greenwing aims to utilize these advanced materials in the manufacture of next generation fireproof products, with a focus on mechanical strength and high-quality fire resistance.
Greenwing and Swinburne will further their research and development activities in the coming months by optimizing the graphene percentage for strength and fire-resistant properties for use in advanced materials and products, commencing the manufacture of next generation prototypes, and undertaking further analysis of fire resistant and mechanical properties.
On July 12, 2022 and based on recent drilling activity, Greenwing released an updated mineral resource estimate under the JORC Code for Graphmada3. Greenwing has expanded the Graphmada Mineral Resource, increasing the Measured and Indicated Mineral Resource ("M+I") by a factor of 5 to 31 million tonnes at 4.8% Fixed Carbon, with total M+I contained graphite now nearly 1.6 million tonnes. Inferred Resources nearly doubled to 30.9 million tonnes at 4.5% Fixed Carbon. Resources are reported at a 3% cut-off grade. Current feasibility studies will focus on the potential for expanded production levels; a concept study will also be completed to determine the potential to supply both advanced material and lithium battery anode markets.
- Millennium Copper-Cobalt Royalty - Metal Bank Limited (ASX: MBK) announced on July 7, 2022 first assay results from the Phase 1 reverse circulation infill program and step-out drilling program at the Millennium cobalt-copper-gold project in Queensland, Australia4. Electric Royalties is relying on the information provided by Metal Bank and is unable to verify the reported drill data.
Ongoing diamond drilling includes shallow, large-diameter core holes for metallurgical samples as well as infill holes. Deeper diamond drilling for resource infill, exploration target confirmation, structural information, and geochemical and geometallurgical sampling will follow.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.
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 and 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 fuel the electric revolution.
Electric Royalties has a growing portfolio of 19 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.
For further information, please contact:
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: [email protected]
www.electricroyalties.com
Scott Logan
Renmark Financial Communications Inc.
Phone: (416) 644-2020 or (212) 812-7680
Email: [email protected]
www.renmarkfinancial.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.
- Green Technology Metals Limited news release dated June 23, 2022, Appendix B: JORC Code 2012, Table 1. Both JORC and CIM are CRIRSCO members hence adhere to international resource reporting standards and adopt a similar approach to resource definition and classification. Differences between the two codes do exist in the requirements for QP site visits, technical reports and use of resource categories.
- Winsome Resources Limited new release dated June 14, 2022.
- Greenwing Resources Ltd. news release dated July 12, 2022, JORC Code 2012, Table 1. Both JORC and CIM are CRIRSCO members hence adhere to international resource reporting standards and adopt a similar approach to resource definition and classification. Differences between the two codes do exist in the requirements for QP site visits, technical reports and use of resource categories.
- Metal Bank Limited news release dated July 7, 2022.
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. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. 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.
SOURCE: Electric Royalties Ltd.