VANCOUVER, BC, July 15, 2021 /CNW/ - Electric Royalties
Ltd. (TSXV: ELEC) ("Electric Royalties" or the
"Company") is pleased to provide an asset update on its current
royalty portfolio.
Brendan Yurik, CEO of Electric
Royalties, highlights "It's only been a month since our last
asset update in which there was significant progress across most of
the Company's portfolio; we now have several major new updates to
announce.
- Sayona Mining is steadily advancing the Authier lithium project towards production
with major approvals, metallurgy and financing in June and July
alone.
- Manganese X released a NI 43-101 resource with 50% more
tonnage than the previous estimate at the Battery Hill manganese
project. The company also announced that they will be progressing
directly to a Feasibility Study given the extensive work already
completed on the metallurgy in partnership with Kemetco over the
past two years.
- The Seymour Lake lithium project, on which we acquired a
royalty in February of this year, is now being advanced by an
A$8.7 million joint venture.
- Global Energy Metals has signed a joint venture to advance
the Millennium copper-cobalt project with initial work programs
expected to begin this month.
In the past month alone over $50
million has been raised by operating partners to fund and
advance assets over which we hold royalties; it's an exciting
positive trend across our entire portfolio and beneficial to
Electric Royalties shareholders."
Authier Lithium Royalty, 0.5% Gross Revenue Royalty ("GRR"),
operated by ASX listed Sayona Mining Ltd ("Sayona")
SAYONA OBTAINS COURT APPROVAL FOR NORTH
AMERICAN LITHIUM MINE ACQUISITION (see Sayona news release
June 30, 2021)
- Superior Court of Québec approves Sayona Québec's acquisition
of North American Lithium (NAL).
- Sayona to refurbish NAL facilities and integrate operation with
Authier Lithium Project to create a world–scale Abitibi lithium
hub.
- TESTS CONFIRM AUTHIER PRODUCT
DELIVERS HIGH PURITY 99.99% LITHIUM HYDROXIDE (See Sayona news
release July 7, 2021)
- Testing shows Authier
spodumene capable of being processed into high purity 99.99%
lithium hydroxide.
- Novonix Battery Technology Solutions analysing Authier product for performance in commercial
lithium–ion batteries.
A$45M FINANCING TO FUND NAL ACQUISITION, ADVANCE ABITIBI LITHIUM HUB (See
Sayona news release July 12,
2021)
- Oversubscribed Placement of A$45
million to institutional investors from North America, Europe, Australia and other jurisdictions with major
shareholder Piedmont Lithium subscribing for A$8M.
- Funds to support acquisition of North American Lithium and
advance Abitibi lithium hub in Quebec,
Canada, amid escalating battery metals demand from
North America's EV
revolution.
Battery Hill Manganese Royalty, 2% GRR, operated by TSXV
listed Manganese X Energy Corporation ("Manganese X")
MANGANESE X ENERGY CORP. (MXE) ANNOUNCES MINERAL RESOURCE
ESTIMATE FOR BATTERY HILL MANGANESE PROJECT (See Manganese X press
release July 7, 2021)
- 34.86 million tonnes Measured and Indicated mineral resources
grading 6.42% Mn.
- Additional 25.91 million tonnes of Inferred mineral resources
grading 6.66% Mn[1].
- Based on the large inventory of Measured and Indicated mineral
resources defined to date, MXE will move quickly to acquire all
information required to bring the project to a Feasibility Study
stage.
Seymour Lake Royalty, 1.5%
NSR, operated by ASX listed Ardiden Limited ("Ardiden")
A$8.7M OPTION EXERCISED TO FORM
LITHIUM JOINT VENTURE (See Ardiden press release June 23, 2021)
- Option exercised to establish Joint Venture between Ardiden and
Great Northern Lithium Pty Ltd (intended to be renamed 'Green
Technology Metals Limited') to progress the Ardiden's strategically
located lithium portfolio in North
America.
- Transaction sets a pathway to develop the JV's portfolio of
high grade spodumene lithium projects, including the Seymour Lake
property.
- Partnership with world class lithium team with a successful
track record of exploring, advancing and developing lithium
projects globally.
Millennium Cobalt Royalty, 0.5% GRR (with an option to buy up
to an additional 1%), operated by TSXV listed Global Energy Metals
Corporation ("Global Energy Metals")
GLOBAL ENERGY METALS SIGNS DEFINITIVE OPTION AGREEMENT WITH
METAL BANK LIMITED TO COMMENCE WORK PROGRAM ON THE MILLENNIUM
COPPER-COBALT-GOLD PROJECT IN QUEENSLAND,
AUSTRALIA (See Global Energy Metals press release
June 28, 2021)
- Global Energy Metals and Metal Bank Limited (ASX:MBK) have
signed a formal agreement granting MBK a 6 month exclusive option
to earn-in and joint venture GEMC's Millennium copper-cobalt-gold
project in the heart of Mount Isa, Queensland.
- Millennium hosts a historical estimate in the inferred category
of 5.89MT at 1.08% copper equivalent[2] across 5 granted mining
leases with significant potential for expansion. A qualified person
has not done sufficient work to validate the historical estimate
and Electric Royalties is not treating it as current mineral
resources. It is believed that the JORC compliant resource is
relevant and of a reliable nature; however, additional drilling and
geological modelling was recommended in the 2019 report (see below)
to upgrade the estimate to be a current resource.
- MBK's initial exploration program at Millennium will commence
in the first week of July.
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1
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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.
The July 7, 2021 news release references a summary of the mineral
resource estimate and states a complete version of the mineral
resource estimate (presumably in a technical report) will be posted
to www.sedar.com within 45 days.
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David Gaunt, P.Geo., a qualified
person who is not independent of Electric Royalties, has reviewed
and approved the technical information in this release.
For further details on Electric Royalties, please visit
www.electricroyalties.com, contact us at (604) 639-9200 or send us
an email at info@electricroyalties.com.
On Behalf of the Board of Directors
Brendan Yurik
Chief Executive Officer
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 & 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 portfolio of 12 royalties and 4 more
acquisitions in progress. The Company plans to focus predominantly
on acquiring royalties on advanced stage and operating projects to
build a diversified portfolio located in jurisdictions with low
geopolitical risk.
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2
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Estimated under JORC
at 0.70% Copper Equivalent (CuEq) cut-off; individual grades are
0.32% Cu, 0.11% Co and 0.11 ppm Au and reported as a historical
estimate in a 2019 technical report that is posted on
www.sedar.com. The CuEq calculation uses commodity prices of Cu:
US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag:
US$20/oz.
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statements Regarding Forward-Looking
Information and Other Company Information
This news release includes information regarding other
companies based on previously disclosed pubic information disclosed
by those companies and the Company is not responsibility for the
accuracy of that information, and that all information provided
herein is subject to this FLI cautionary. This news release
also includes forward-looking information and
forward-looking statements (collectively, "forward-looking
information") with respect to the Company and these other companies
and 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 or
results or those of these other companies and may include
statements regarding the Company's 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
or those of these other companies.
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 other
companies 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 any of these other companies to implement its 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 and those of these other companies, or equivalent public
filings 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.
SOURCE Electric Royalties Ltd.