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Electric Royalties Provides Progress Updates on Its Copper, Cobalt, Graphite, Lithium, Manganese and Tin Royalties

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Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) has provided updates on seven royalties in its portfolio. Key highlights include:

  • Kingsrose Mining earned a 51% interest in the Råna nickel-copper-cobalt project in Norway and plans to increase it to 65%.
  • Significant graphite intervals were discovered at the Millennium copper-cobalt project in Queensland, Australia.
  • Ongoing drilling at the Graphite Bull project in Western Australia aims to support a mineral resource estimate in Q4 2024.
  • A priority exploration target has been identified at the Ruddy lithium project in Ontario, Canada.
  • Manganese X Energy continues work on the Battery Hill manganese project in New Brunswick, Canada, preparing for a prefeasibility study.
  • Greenwing Resources is seeking strategic investment to restart the Graphmada graphite mine in Madagascar.
  • Strategic Minerals Europe Corp. has suspended operations at the Penouta tin-tantalum mine in Spain and initiated a voluntary structured insolvency process.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) ha fornito aggiornamenti su sette royalties nel suo portafoglio. Punti salienti includono:

  • Kingsrose Mining ha acquisito un interesse del 51% nel progetto di nichel-rame-cobalto Råna in Norvegia e prevede di aumentarlo al 65%.
  • Significativi intervalli di grafite sono stati scoperti nel progetto di rame-cobalto Millennium nel Queensland, Australia.
  • Le perforazioni in corso presso il progetto Graphite Bull nell'Australia Occidentale mirano a sostenere una stima delle risorse minerali nel Q4 2024.
  • Un obiettivo di esplorazione prioritario è stato identificato nel progetto di litio Ruddy in Ontario, Canada.
  • Manganese X Energy continua i lavori sul progetto di manganese Battery Hill nel New Brunswick, Canada, preparando uno studio di prefattibilità.
  • Greenwing Resources sta cercando investimenti strategici per riavviare la miniera di grafite Graphmada in Madagascar.
  • Strategic Minerals Europe Corp. ha sospeso le operazioni presso la miniera di stagno-tantalio Penouta in Spagna e ha avviato un processo di insolvenza strutturata volontaria.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) ha proporcionado actualizaciones sobre siete regalías en su cartera. Los aspectos destacados incluyen:

  • Kingsrose Mining adquirió un 51% de interés en el proyecto de níquel-cobre-cobalto Råna en Noruega y planea aumentarlo al 65%.
  • Se descubrieron intervalos significativos de grafito en el proyecto de cobre-cobalto Millennium en Queensland, Australia.
  • Las perforaciones en curso en el proyecto Graphite Bull en Australia Occidental tienen como objetivo respaldar una estimación de recursos minerales en el cuarto trimestre de 2024.
  • Se ha identificado un objetivo de exploración prioritario en el proyecto de litio Ruddy en Ontario, Canadá.
  • Manganese X Energy continúa trabajando en el proyecto de manganeso Battery Hill en New Brunswick, Canadá, preparándose para un estudio de prefactibilidad.
  • Greenwing Resources está buscando inversión estratégica para reiniciar la mina de grafito Graphmada en Madagascar.
  • Strategic Minerals Europe Corp. ha suspendido operaciones en la mina de estaño-tantalio Penouta en España y ha iniciado un proceso de insolvencia estructurada voluntaria.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF)는 포트폴리오에 있는 7개 로열티에 대한 업데이트를 제공했습니다. 주요 내용은 다음과 같습니다:

  • Kingsrose Mining은 노르웨이 Råna 니켈-구리-코발트 프로젝트에서 51%의 지분을 확보했으며 이를 65%로 증가시킬 계획입니다.
  • 호주 퀸즐랜드의 Millennium 구리-코발트 프로젝트에서 중요한 그래파이트 간격이 발견되었습니다.
  • 서호주 Graphite Bull 프로젝트에서 진행 중인 드릴링은 2024년 4분기까지 광물 자원 추정을 지원하는 것을 목표로 하고 있습니다.
  • 캐나다 온타리오의 Ruddy 리튬 프로젝트에서 우선 탐사 대상이 확인되었습니다.
  • Manganese X Energy는 캐나다 뉴브런스윅의 Battery Hill 망간 프로젝트에서 작업을 계속하며 타당성 조사 준비를 하고 있습니다.
  • Greenwing Resources는 마다가스카르에 있는 Graphmada 그래파이트 광산을 재개하기 위해 전략적 투자를 모색하고 있습니다.
  • Strategic Minerals Europe Corp.는 스페인 Penouta 주석-탄탈륨 광산에서 운영을 중단하고 자발적인 구조적 지급 불능 절차를 시작했습니다.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) a fourni des mises à jour sur sept redevances dans son portefeuille. Les points clés incluent :

  • Kingsrose Mining a acquis un intérêt de 51 % dans le projet nickel-cuivre-cobalt Råna en Norvège et prévoit de l'augmenter à 65 %.
  • Des intervalles de graphite significatifs ont été découverts dans le projet cuivre-cobalt Millennium dans le Queensland, Australie.
  • Les forages en cours dans le projet Graphite Bull en Australie-Occidentale visent à soutenir une estimation des ressources minérales au quatrième trimestre 2024.
  • Un objectif d'exploration prioritaire a été identifié dans le projet lithium Ruddy en Ontario, Canada.
  • Manganese X Energy poursuit ses travaux sur le projet manganèse Battery Hill au Nouveau-Brunswick, Canada, en se préparant pour une étude de préfaisabilité.
  • Greenwing Resources recherche un investissement stratégique pour relancer la mine de graphite Graphmada à Madagascar.
  • Strategic Minerals Europe Corp. a suspendu ses opérations à la mine d'étain-tantalum Penouta en Espagne et a engagé un processus d'insolvabilité structuré volontaire.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) hat Updates zu sieben Royalties in seinem Portfolio bereitgestellt. Wesentliche Highlights umfassen:

  • Kingsrose Mining hat ein Interesse von 51% am Råna Nickel-Kupfer-Kobalt-Projekt in Norwegen erworben und plant, es auf 65% zu erhöhen.
  • Signifikante Graphitintervalle wurden im Millennium Kupfer-Kobalt-Projekt in Queensland, Australien, entdeckt.
  • Die laufenden Bohrungen im Graphite Bull-Projekt in Westaustralien zielen darauf ab, eine Schätzung der Mineralressourcen im 4. Quartal 2024 zu unterstützen.
  • Ein vorrangiges Explorationsziel wurde im Ruddy Lithium-Projekt in Ontario, Kanada, identifiziert.
  • Manganese X Energy arbeitet weiterhin am Battery Hill Manganprojekt in New Brunswick, Kanada, und bereitet eine Machbarkeitsstudie vor.
  • Greenwing Resources sucht nach strategischen Investitionen, um die Graphmada Graphitmine in Madagaskar wieder zu eröffnen.
  • Strategic Minerals Europe Corp. hat die Aktivitäten in der Zinn-Tantal-Mine Penouta in Spanien eingestellt und ein freiwilliges strukturiertes Insolvenzverfahren eingeleitet.
Positive
  • Kingsrose Mining earned 51% interest in Råna project and plans to increase to 65%, investing A$4 million more
  • Significant graphite intervals discovered at Millennium copper-cobalt project, potentially adding value
  • Ongoing drilling at Graphite Bull project aims for mineral resource estimate in Q4 2024
  • Priority exploration target identified at Ruddy lithium project
  • Manganese X Energy preparing for prefeasibility study at Battery Hill manganese project
  • High purity manganese sulphate monohydrate sample from Battery Hill passed rigid EV battery standards
Negative
  • Penouta tin-tantalum mine operations suspended due to permit issues
  • Strategic Minerals Europe Corp. initiated voluntary structured insolvency process for Spanish subsidiary
  • Strategic Minerals Europe Corp. plans to voluntarily delist its common shares from Cboe Canada Inc.

VANCOUVER, BC / ACCESSWIRE / October 10, 2024 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio.

Brendan Yurik, CEO of Electric Royalties, commented: "We are happy to report on developments in connection with seven royalties in our portfolio, all coming on the heels of the significant resource upgrade at the Zonia copper project in Arizona (see Electric Royalties' news release dated September 16, 2024). We're encouraged by the portfolio's progress, particularly with regard to Kingsrose Mining's continued investment in the Rana nickel-copper-cobalt project in Norway, having completed its 51% interest earn-in with the intention of spending another A$4 million to increase its interest to 65%.

"The search continues for a partner to bring the Graphmada mining complex in Madagascar back into production. Graphmada is a past producing mine that operated continuously for 20 months and had its product qualified by offtakers1 prior to being put on care and maintenance due to Covid restrictions.

"There's continued progress on the metallurgy for the Battery Hill manganese project in Canada in preparation, we understand, for a prefeasibility study which would be a major milestone in moving the project forward to production.

"We are also pleased to note exploration progress at our Ruddy lithium asset in Eastern Canada as well as the Graphite Bull graphite asset in Australia. We invite investors to follow us at www.electricroyalties.com or on social media for more news to come during the year."

Highlights since the Company's previous update on July 3, 2024:

  • Råna Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) - On August 12, 2024, Global Energy Metals Corporation (TSXV:GEMC) ("Global Energy Metals") and its strategic partner, Kingsrose Mining Limited (ASX: KRM) ("Kingsrose"), announced that drilling has commenced at the Råna Project in Norway, designed to test exploration targets comprising mineralized nickel-copper-cobalt massive sulphide at surface at the Rånbogen prospect. The targets were identified through geophysical work by Kingsrose in 2023.

On September 4, 2024, Global Energy Metals announced that Kingsrose has earned a 51% interest in the Råna Project by incurring A$3 million in expenditures on the project. Kingsrose also intends to earn the third milestone interest, which equates to a 65% interest in the Råna Project, by incurring A$4 million in expenditures on the project within the next two years. By spending A$15 million in cumulative project expenditures on the project, Kingsrose has the right to ultimately earn up to an 80% interest.

The drill program announced on August 12 has been completed and results are pending. According to Global Energy Metals, the drill programs to date show potential for the discovery of high-grade sulphide nickel-copper-cobalt mineralization at Råna.

Electric Royalties is relying on the information provided by Global Energy Metals.

  • Millennium Copper-Cobalt Project (0.5% Gross Revenue Royalty) - On July 30, 2024, Metal Bank Limited (ASX:MBK) ("Metal Bank") announced significant graphite intervals adjacent to the existing cobalt-copper-gold mineral resource the Millennium Project in Queensland, Australia. Furthermore, drill holes completed in this program intersected varying levels of sulphide mineralization, including chalcopyrite (copper) and cobaltite (cobalt) minerals.

    Electric Royalties understands that Metal Bank plans to assess the potential for further value to be unlocked from developing the graphite potential of the Millennium Project. This includes additional surface mapping and sampling to establish graphite extents, a review of existing geophysical data and potential for further geophysics to help define large graphite targets, and low-cost reassaying of previous core laboratory samples, existing bulk samples and drill core for total graphitic carbon content.

    Electric Royalties is relying on the information provided by Metal Bank and is unable to verify the reported drill data.

  • Graphite Bull Graphite Project (0.75% Gross Revenue Royalty) - On August 23, 2024, Buxton Resources Limited (ASX:BUX) ("Buxton") provided an exploration update for the Graphite Bull Project in Western Australia. The ongoing drilling program, which commenced in July 2024, aims to support a mineral resource estimate under JORC standards in Q4 2024. Reverse circulation drilling has intersected graphite mineralization. According to Buxton, this result is interpreted to reflect generally thicker true widths of mineralization in the east compared to the resource area.

Earlier in the same drill program, Buxton announced on July 25, 2024, that diamond hole GB006DD intersected 50.35 meters of graphitic mineralization, and multiple smaller intervals corresponding to mineralization mapped at surface. This intersection is 240 m directly down dip from the base of the resource estimated in 2014 under JORC, suggesting that the Main Zone at Graphite Bull is large, structurally simple and highly predictable - all positive characteristics for project economics, according to Buxton.

Buxton has also sent graphite flake concentrate to BTR New Material Group to commence qualification testwork to determine suitability for use in anodes for lithium-ion batteries.

Electric Royalties is relying on the information provided by Buxton and is unable to verify the reported drill data2.

  • Ruddy Lithium Project (1.5% Net Smelter Royalty)3 - On July 30, 2024, Sultan Resources Limited (ASX:SLZ) ("Sultan") provided an update in its quarterly report on the Ruddy Project in Ontario, Canada. Following the receipt of assay results, a priority exploration target has been identified at the interpreted lithium, caesium and tantalum (LCT) Goldilocks Zone surrounding the Allison Lake Batholith which covers approximately 3.5 kilometres of east-west strike in the centre to south of Ruddy. Due to the Canadian field season in northwest Ontario, no active field work was undertaken during the current quarter.

    Electric Royalties is relying on the information provided by Sultan.

  • Battery Hill Manganese Project (2.0% Gross Metal Royalty) - On August 27, 2024, Manganese X Energy Corp. (TSXV:MN) ("Manganese X") provided an update on the Battery Hill Project in New Brunswick, Canada. Manganese X and Kemetco Research Inc. are continuing work to demonstrate the technical feasibility of Manganese X's technology. This includes upgrading Battery Hill's metallurgical flow sheet project in preparation for an upcoming prefeasibility study.

    Manganese X engaged an independent US lab to perform an analysis of its high purity manganese sulphate monohydrate sample to detect the degree of contaminant impurities and ultimately determine if the test results will meet rigid EV battery standards. This sample was produced by Kemetco Research Inc. with the manganese carbonate originating from Battery Hill. The sample passed the rigid requirements, according to Manganese X.

    Electric Royalties is relying on the information provided by Manganese X and is unable to verify the test results.

  • Graphmada Graphite Mine (2.5% Net Smelter Royalty) - On August 26, 2024,Greenwing Resources Ltd. (ASX:GW1) ("Greenwing") stated that the Graphmada Mining Complex in Madagascar and its infrastructure are in excellent condition while care and maintenance activities continued on site. According to Greenwing, the process to attract strategic investment to restart the Graphmada Mine is in progress.

    Electric Royalties is relying on the information provided by Greenwing.

  • Penouta Tin-Tantalum Mine (1.5% Gross Revenue Royalty) - On August 14, 2024, Strategic Minerals Europe Corp. (NEO:SNTA)(OTCQB:SNTAF) ("Strategic") reported its second quarter 2024 financial results. No production, sales and revenue were reported due to the suspension of operations at the Penouta Mine in Spain.

Strategic is focused on exploring all available legal avenues to expedite the reinstatement of the section C permit, while continuing to maintain the plant. It is also analyzing the opportunity to mine tailings and waste deposits that are not subject to the section C permit suspension, to generate cashflow.

The amended and restated business combination agreement that Strategic entered into with IberAmerican Lithium Corp. and IberAmerican Resources Inc. was terminated in August.

On September 25, 2024, Strategic announced that following the termination of the aforementioned business combination agreement, it has failed to secure new sources of financing. As a result, its wholly owned Spanish subsidiary, Strategic Minerals Spain, S.L.U. ("SMS"), has commenced a voluntary structured insolvency process that includes the appointment of an insolvency administrator over SMS and its property by the Spanish court. Strategic also announced its intention to voluntarily delist its common shares from Cboe Canada Inc.

Electric Royalties is relying on the information provided by Strategic.

David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

1 Greenwing Resources Limited website https://greenwingresources.com/our-projects/graphmada/.

2 See Buxton Resources Limited's news release dated August 26, 2024 and July 25, 2024 for full results, QA/QC practices and Competent Persons.

3 The Ruddy project is part of Electric Royalties' Ontario Lithium Portfolio acquisition (see Electric Royalties' news release dated May 1, 2024).

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 40 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world. 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 toward a decarbonized global economy.

For further information, please contact:

Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
https://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. 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, 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 sedarplus.ca and at otcmarkets.com.

SOURCE: Electric Royalties Ltd.



View the original press release on accesswire.com

FAQ

What progress has been made at the Råna nickel-copper-cobalt project (ELECF)?

Kingsrose Mining has earned a 51% interest in the Råna project by incurring A$3 million in expenditures. They intend to increase their interest to 65% by spending an additional A$4 million within the next two years.

What developments have occurred at the Graphite Bull project (ELECF)?

Buxton Resources has been conducting a drilling program at Graphite Bull since July 2024, aiming to support a mineral resource estimate under JORC standards in Q4 2024. Significant graphite mineralization has been intersected, including a 50.35-meter interval.

What is the current status of the Graphmada graphite mine (ELECF)?

The Graphmada Mining Complex in Madagascar is currently under care and maintenance. Greenwing Resources is in the process of attracting strategic investment to restart the mine, which was previously in production for 20 months.

What recent developments have occurred at the Battery Hill manganese project (ELECF)?

Manganese X Energy is upgrading the Battery Hill metallurgical flow sheet in preparation for an upcoming prefeasibility study. A high purity manganese sulphate monohydrate sample from Battery Hill has passed rigid EV battery standards in recent testing.

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