Gold-Rich Cobalt-Copper Mineralization at CAS Property Strengthens Electra’s Idaho Exploration Strategy
Electra Battery Materials (NASDAQ: ELBM) has reported significant gold-rich cobalt-copper mineralization at its CAS Property in the Idaho Cobalt Belt. Historical drilling data from 2003-2006, spanning over 2,600m, revealed notable high-grade gold values, including intersections of 8.3 g/t Au and 0.51% Co over 6.2m.
The CAS Property, located approximately 2km north of Electra's Iron Creek Project, expands the company's footprint in the Idaho Cobalt Belt, which is recognized as the largest undeveloped primary cobalt resource in the United States. The company recently secured a 10-year exploration permit covering 91 designated drill pad locations across its 73.15 km² Idaho properties.
Recent analyses by ALS Global have identified multiple anomalous gold, copper, and cobalt zones beyond the main CAS Prospect. Electra plans to conduct further bedrock mapping, structural evaluation, and resampling of mineralized zones, while considering additional geophysical surveys to support drill targeting.
Electra Battery Materials (NASDAQ: ELBM) ha riportato significative mineralizzazioni di cobalto-rame ricche d'oro presso il suo CAS Property nella Idaho Cobalt Belt. I dati storici di perforazione dal 2003 al 2006, che coprono oltre 2.600 m, hanno rivelato notevoli valori di oro ad alta legge, inclusi intersezioni di 8,3 g/t Au e 0,51% Co su 6,2 m.
Il CAS Property, situato a circa 2 km a nord del progetto Iron Creek di Electra, amplia la presenza dell'azienda nella Idaho Cobalt Belt, riconosciuta come la più grande risorsa primaria di cobalto non sviluppata negli Stati Uniti. Recentemente, l'azienda ha ottenuto un permesso di esplorazione di 10 anni che copre 91 posizioni designate per la perforazione nelle sue proprietà in Idaho di 73,15 km².
Recenti analisi condotte da ALS Global hanno identificato molteplici zone anomale di oro, rame e cobalto oltre il principale CAS Prospect. Electra prevede di effettuare ulteriori mappature della roccia madre, valutazioni strutturali e nuovi campionamenti delle zone mineralizzate, considerando anche ulteriori indagini geofisiche per supportare la pianificazione dei fori di perforazione.
Electra Battery Materials (NASDAQ: ELBM) ha reportado una mineralización significativa de cobalto-cobre rica en oro en su propiedad CAS en el Idaho Cobalt Belt. Los datos históricos de perforación de 2003 a 2006, que abarcan más de 2.600 m, revelaron notables valores de oro de alta ley, incluyendo intersecciones de 8,3 g/t Au y 0,51% Co sobre 6,2 m.
La propiedad CAS, ubicada aproximadamente a 2 km al norte del Proyecto Iron Creek de Electra, amplía la huella de la compañía en el Idaho Cobalt Belt, que es reconocida como la mayor fuente primaria de cobalto no desarrollada en los Estados Unidos. Recientemente, la compañía aseguró un permiso de exploración de 10 años que cubre 91 ubicaciones designadas para perforación en sus propiedades de Idaho que abarcan 73,15 km².
Los análisis recientes de ALS Global han identificado múltiples zonas anómalas de oro, cobre y cobalto más allá del principal CAS Prospect. Electra planea realizar un mapeo adicional de la roca madre, evaluación estructural y remuestreo de las zonas mineralizadas, considerando también encuestas geofísicas adicionales para apoyar la orientación de perforación.
Electra Battery Materials (NASDAQ: ELBM)는 아이다호 코발트 벨트에 있는 CAS 자산에서 금이 풍부한 코발트-구리 광물화가 상당하다고 보고했습니다. 2003년부터 2006년까지의 역사적인 시추 데이터는 2,600m 이상에 걸쳐 있으며, 8.3 g/t Au 및 0.51% Co를 6.2m에 걸쳐서 포함한 주목할 만한 고등급 금 가치를 드러냈습니다.
CAS 자산은 Electra의 아이언 크릭 프로젝트에서 북쪽으로 약 2km 떨어진 곳에 위치하며, 미국에서 개발되지 않은 가장 큰 주요 코발트 자원으로 인정받는 아이다호 코발트 벨트 내에서 회사의 입지를 확장합니다. 최근 회사는 73.15 km²의 아이다호 자산 전역에 걸쳐 91개의 지정된 시추 패드 위치를 포함하는 10년 탐사 허가를 확보했습니다.
ALS Global의 최근 분석에 따르면, 주요 CAS 전망 너머에 여러 개의 비정상적인 금, 구리 및 코발트 구역이 확인되었습니다. Electra는 추가적인 암석 매핑, 구조 평가 및 광물화된 구역의 재샘플링을 수행할 계획이며, 시추 목표를 지원하기 위해 추가적인 지구 물리학적 조사를 고려하고 있습니다.
Electra Battery Materials (NASDAQ: ELBM) a rapporté une minéralisation significative de cobalt-cuivre riche en or sur sa propriété CAS dans la ceinture de cobalt de l'Idaho. Des données historiques de forage de 2003 à 2006, s'étendant sur plus de 2 600 m, ont révélé des valeurs d'or de haute qualité notables, y compris des intersections de 8,3 g/t Au et 0,51% Co sur 6,2 m.
La propriété CAS, située à environ 2 km au nord du projet Iron Creek d'Electra, élargit l'empreinte de l'entreprise dans la ceinture de cobalt de l'Idaho, reconnue comme la plus grande ressource primaire de cobalt non développée aux États-Unis. Récemment, l'entreprise a obtenu un permis d'exploration de 10 ans couvrant 91 emplacements de plateformes de forage désignés sur ses propriétés de 73,15 km² dans l'Idaho.
Des analyses récentes menées par ALS Global ont identifié plusieurs zones anormales d'or, de cuivre et de cobalt au-delà du principal projet CAS. Electra prévoit de réaliser des cartographies de la roche mère, des évaluations structurelles et des nouveaux échantillonnages des zones minéralisées, tout en envisageant des enquêtes géophysiques supplémentaires pour soutenir le ciblage des forages.
Electra Battery Materials (NASDAQ: ELBM) hat bedeutende goldreiche Kobalt-Kupfer-Mineralisierungen auf seinem CAS-Grundstück im Idaho Cobalt Belt gemeldet. Historische Bohrdaten aus den Jahren 2003 bis 2006, die sich über mehr als 2.600 m erstrecken, zeigten bemerkenswerte hochgradige Goldwerte, einschließlich Schnittstellen von 8,3 g/t Au und 0,51% Co über 6,2 m.
Das CAS-Grundstück, das sich etwa 2 km nördlich des Iron Creek-Projekts von Electra befindet, erweitert die Präsenz des Unternehmens im Idaho Cobalt Belt, der als die größte unentwickelte primäre Kobaltressource in den Vereinigten Staaten anerkannt ist. Das Unternehmen hat kürzlich eine 10-jährige Explorationsgenehmigung erhalten, die 91 ausgewiesene Bohrstandorte auf seinen 73,15 km² großen Grundstücken in Idaho abdeckt.
Aktuelle Analysen von ALS Global haben mehrere anomale Gold-, Kupfer- und Kobalt-Zonen über das Haupt-CAS-Versprechen hinaus identifiziert. Electra plant, weitere Gesteinskartierungen, strukturelle Bewertungen und Wiederproben mineralisierter Zonen durchzuführen und erwägt zusätzliche geophysikalische Untersuchungen zur Unterstützung der Bohrzielsetzung.
- High-grade gold mineralization discovered: up to 9.2 g/t Au with significant cobalt content
- Secured 10-year exploration permit covering 91 drill pad locations
- Property located in largest undeveloped primary cobalt resource in the United States
- Multiple anomalous gold, copper, and cobalt zones identified beyond main prospect
- Bedrock source of mineralization remains undiscovered despite previous exploration
- Ground-based surveys not conducted since 1970s, requiring additional investment
Insights
The discovery of significant gold mineralization alongside cobalt and copper at the CAS Property represents a strategic enhancement to Electra's asset portfolio. The reported high-grade gold intersections (ranging 8.3-9.2 g/t Au) are particularly noteworthy, as they could potentially provide substantial economic benefits and funding flexibility for future development.
The multi-mineral nature of the deposit offers three key advantages: First, it provides natural hedging against commodity price fluctuations, as different metals often follow distinct price cycles. Second, the presence of gold could attract co-funding opportunities from precious metals-focused partners, potentially accelerating development without significant dilution. Third, the gold credits could significantly improve the project economics, potentially lowering the effective cost of cobalt and copper production.
The strategic value extends beyond pure economics. The property's location within the Idaho Cobalt Belt - identified by the USGS as America's largest undeveloped primary cobalt resource - positions Electra advantageously within the critical minerals supply chain. This aligns perfectly with ongoing government initiatives to secure domestic sources of strategic materials, potentially opening access to federal support and partnerships.
The recently secured 10-year exploration permit covering 91 drill pad locations across 73.15 km² provides significant operational flexibility and de-risks the exploration timeline. The property's proximity to Electra's Iron Creek deposit suggests potential operational synergies and resource consolidation opportunities. The planned integration of modern geophysical techniques, which have proven successful at Iron Creek and Ruby, could accelerate the discovery of additional mineralization and resource definition.
TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Electra Battery Materials Corporation (NASDAQ: ELBM; TSX-V: ELBM) (“Electra” or the “Company”) is pleased to provide an update on its exploration efforts at the CAS Property in the Idaho Cobalt Belt, U.S.A. Recent and historical data from CAS highlight high-grade gold values over significant intervals and underscore the growing importance of the CAS Property to Electra’s Idaho exploration strategy.
With gold trading near its all-time high and a strong long-term outlook, the presence of high-grade gold mineralization at CAS adds further strategic value to Electra’s Idaho holdings. Between 2003 and 2006, over 2,600m of drilling was conducted over on the CAS Property, identifying significant gold values. Copper-rich massive sulfide boulders were also discovered nearby, but despite previous exploration the bedrock source of this style of mineralization has not been found. The most notable highlights from previous drilling include:
- IC03-02 6.2m from 77.4m at 8.3 g/t Au and
0.51% Co - IC03-03 1.5m from 72.8m at 8.5g/t Au and
0.54% Co - IC03-04 4.6m from 128.0m at 8.3g/t Au and
0.34% Co - IC03-07 3.0m from 41.1m at 9.2g/t Au and
0.08% Co
"Electra remains committed to securing a stable and sustainable supply of critical minerals needed to strengthen the resiliency of domestic supply chains," said Electra CEO, Trent Mell. "Domestic sources of cobalt and copper are essential for America’s industrial and military security. The presence of high-grade gold alongside these critical minerals enhances the economic potential of our Idaho Cobalt Belt properties, providing optionality for future funding and development strategies. Adjacent to our Iron Creek deposit and Ruby property, mineralization on the CAS Property extends over several kilometers, much of which remains untested. This represents an exciting opportunity for Electra to expand its resource base in the U.S. and enhance the potential of our entire land package."
Electra holds a significant land position in the Idaho Cobalt Belt, including the Iron Creek deposit and the highly prospective Ruby target area. The CAS Property option expands this footprint and opens the door for potential collaboration with gold-focused explorers.
The Idaho Cobalt Belt is recognized by the U.S. Geological Survey as the largest undeveloped primary cobalt resource in the United States and hosts multiple mineral deposits, some of which were historically mined. Mineralization at the CAS Property shares similarities with the Black Pine deposit, located approximately 20 kilometers northwest, and the breccia-style mineralization at Glencore’s historic Blackbird mine, the largest cobalt-copper-gold resource in the region.
Figure 1. Location of the Iron Creek Property in east-central Idaho
Late last year, Electra secured a 10-year exploration permit for its properties in the Idaho Cobalt Belt, covering 91 designated drill pad locations and hundreds of potential drill targets. The Idaho properties consist of mining patents and exploration claims over an area of 73.15 km2 and cover the strike extent of strata hosting the cobalt-copper sulfide mineralization.
The CAS target area is located approximately two (2) kilometers north of Electra’s Iron Creek Project and hosts promising mineralization, including several cobalt-gold veins discovered in the early 1970s. The CAS Property has a technical report which was filed in 2017.
Figure 2. Bedrock geology map of Electra’s property
The host rocks at CAS exhibit strong alteration, with mineralization traced several kilometers beyond the drilled area, yet systematic follow-up exploration remains limited.
Figure 3. Colour contour map of gridded gold values for bedrock and float samples covering the CAS Property
Recent work by Electra has included extensive bedrock and float geochemical sampling across the property, aligning well with compiled historical data. These analyses, conducted by ALS Global, utilized four-acid digestion with ICP-AES finish, as well as fire assay for gold with ICP-AES and gravimetric finish for over-range samples. The results highlight multiple anomalous gold, copper, and cobalt zones beyond the main CAS Prospect. In places gold, cobalt and copper are anomalous within the same sample so may reflect a similar style of mineralization as the massive sulfide boulders found near the CAS Prospect.
Looking ahead, Electra plans further bedrock mapping, structural evaluation, and resampling of anomalous mineralized zones. Additional geophysical surveys are under consideration, as ground-based induced polarity and resistivity surveys have not been conducted at CAS since the 1970s. These techniques have previously proven successful at Iron Creek and Ruby in delineating mineralization for drill targeting.
Electra’s immediate priority is completing the construction of North America’s first battery-grade cobalt refinery in Canada, which can enable the development of future cobalt deposits in Idaho. The Company’s longer-term vision includes expanding critical mineral refining capabilities within North America, including battery recycling and nickel production. Exploration in the Idaho Cobalt Belt supports Electra’s broader strategy to secure and develop domestic critical minerals resources, supporting the onshoring of the supply chain for its refining operations.
The Trump administration first underscored the strategic importance of securing critical minerals with its 2017 Executive Order 13817, which prioritized identifying and developing domestic mineral resources. Electra’s exploration in the Idaho Cobalt Belt aligns with this priority, contributing to the long-term security of the critical minerals supply chain.
Qualified Person Statement
The scientific technical content of this press release that relates to mineral exploration has been reviewed and approved by Dr. Frank Santaguida, P.Geo., who is a Qualified Person as defined by National Instrument 43-101. Dr. Santaguida is employed as Lead Geoscientist by Electra.
About Electra Battery Materials
Electra is a leader in advancing North America’s critical minerals supply chain for lithium-ion batteries. Currently focused on developing North America’s only cobalt sulfate refinery, Electra is executing a phased strategy to onshore critical minerals refining and reduce reliance on foreign supply chains. In addition to establishing the cobalt sulfate refinery, Electra’s strategy includes nickel refining and battery recycling. Growth projects include integrating black mass recycling at its existing refining complex, evaluating opportunities for cobalt production in Bécancour, Quebec, and exploring nickel sulfate production potential in North America. For more information, please visit www.ElectraBMC.com.
Contact
Heather Smiles
Vice President, Investor Relations & Corporate Development
Electra Battery Materials
info@ElectraBMC.com
1.416.900.3891
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This news release may contain forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, are forward-looking statements, including statements in this release about the expected use of the proceeds from the Financing. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. Forward-looking statements are based on certain assumptions, and involve risks, uncertainties and other factors that could cause actual results, performance, and opportunities to differ materially from those implied by such forward-looking statements. Among the bases for assumptions with respect to the potential for additional government funding are discussions and indications of support from government actors based on certain milestones being achieved. Factors that could cause actual results to differ materially from these forward-looking statements are set forth in the management discussion and analysis and other disclosures of risk factors for Electra Battery Materials Corporation, filed on SEDAR+ at www.sedarplus.com and with on EDGAR at www.sec.gov. Other factors that could lead actual results to differ materially include changes with respect to government or investor expectations or actions as compared to communicated intentions, and general macroeconomic and other trends that can affect levels of government or private investment. Although the Company believes that the information and assumptions used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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FAQ
What are the key gold and cobalt grades discovered at ELBM's CAS Property?
How large is ELBM's property holding in the Idaho Cobalt Belt?
What is the duration of ELBM's new exploration permit in Idaho?
Where is ELBM's CAS Property located relative to its Iron Creek Project?
What are ELBM's next exploration steps for the CAS Property?
