Resource News

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:"We are excited that our Graphmada graphite and Seymour Lake lithium royalty assets are nearing the completion of mineral resource upgrades. We've already had 17 development updates across 10 royalties in our portfolio thus far in 2022, funded at no cost to Electric Royalties. As we expand our royalty portfolio even further, the value added to our royalties is a key benefit that we offer our shareholders."

Highlights since the Company's previous development update on April 13, 2022:

  • Graphmada Graphite Royalty - Greenwing Resources Ltd. (ASX: GW1) announced on April 13, 2022 that it has completed its 3,268-metre drill program in Madagascar comprising 69 diamond holes, with results recording significant intercepts of graphite mineralization. The drill program has significantly expanded the mineralization footprint of the Graphmada Mineral Resource. Greenwing expects to complete the update of Graphmada's Mineral Resources estimate in Q2 2022, while continuing analysis of the remaining drill samples. Greenwing also plans to assess the undertaking of further drilling to update resource confidence and test the mineralization laterally, in width and depth. Feasibility studies are ongoing to assess the restart and expansion of mining and processing at the Graphmada Mining Complex.
  • Seymour Lake Lithium Royalty - Green Technology Metals Limited (ASX: GT1) announced on April 12, 2022 the assay results for an additional six holes from its Phase 1 step-out drilling at the Seymour Lake Project's North Aubry deposit in Ontario, Canada. The Phase 1 drilling program was designed to evaluate potential along-strike and down-dip extensions of the North Aubry deposit that were open and untested. This inaugural program has been completed with 16 holes drilled over 5,826 metres. Green Technology Metals reported thick, high-grade extensional intercepts in April.

The Phase 1 assays returned to date (nine holes) indicate substantial potential upside to the existing Seymour Lake Mineral Resource estimate. Green Technology Metals expects the updated Mineral Resource estimate for Seymour Lake to incorporate all Phase 1 results including residual pending assays for seven holes, during Q2 2022. Phase 2 (Central Aubry zone) and Phase 3 (Pye prospect) drilling at Seymour Lake is underway with a total of eight holes over 1,201 metres drilled to date across both areas.

  • Cancet Lithium Royalty - Winsome Resources Limited (ASX: WR1) announced on April 21, 2022 that it has completed its drill program of 2,142 metres comprising 23 diamond holes at the Cancet Project in Quebec, Canada, designed to provide infill drilling on known high-grade lithium mineralization identified in previous exploration, as well as to test geological anomalies indicated through various geophysical methods including magnetic surveys. Winsome expects results from the drill program will provide evidence of the extension of the strike length of the lithium mineralization, and ultimately underpin its inaugural resource estimate and delivery of a scoping study, in turn supporting ongoing strategic partnership end-user discussions. Visible spodumene crystals were detected in the pegmatites and these samples have already been sent to the laboratory for assay to identify if lithium mineralization is present1. Initial results from the first batch of core samples are expected during May 2022. In addition, Cancet plans to conduct ground stripping at the current site of known mineralization to expose more pegmatite, and channel sampling to inform detailed geological mapping of the known lithium mineralization. Findings from these activities will be used to generate further drill targets.
  • Yalbra Graphite Royalty - Buxton Resources Limited (ASX: BUX) announced on May 5, 2022 that a program of works has been submitted to the Government of Western Australia's Department of Mines, Industry Regulation and Safety for approval to undertake an infill drilling program at the Yalbra graphite deposit, Gascoyne Region, Western Australia with a goal to delineate Indicated Resources at this high-grade deposit. The drilling program will commence subject to approval of the program of works and drill rig availability. The combination of improving market conditions, promising results from metallurgical work (ongoing) and project terrain which is highly amenable to siting a mining operation, positions the Yalbra Project for subsequent advancement through feasibility studies and permitting.

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

_____________________________________________________________________________________

1 See Winsome Resources' press releases dated March 29, 2022 and March 31, 2022.

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 18 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
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
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, 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.



View source version on accesswire.com:
https://www.accesswire.com/700909/Electric-Royalties-Provides-Development-Update-on-Royalty-Portfolio

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ELEC:CA
Electric Royalties

Electric Royalties

Overview

The increasing popularity of electric vehicles and the green energy movement has disrupted the transportation and power industry entirely. By 2050, over 17 countries announced 100 percent zero-emission vehicle targets or goals to phase out internal combustion engines vehicles.

Seeing these unprecedented trends in growth across the electric vehicle market means the demand for key raw materials used in the lithium-ion batteries needed to power these technological innovations could experience significant parallel growth. As prices for these raw commodities grow, market researchers predict more money investment opportunities coming into the sector. Especially for royalty companies with widespread exposure across the market, the investment upside could be significantly advantageous.

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ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING

ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES ./

All amounts in Canadian dollars unless otherwise stated

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ELECTRIC ROYALTIES PROVIDES DEVELOPMENT UPDATE ON ROYALTY PORTFOLIO

ELECTRIC ROYALTIES PROVIDES DEVELOPMENT UPDATE ON ROYALTY PORTFOLIO

Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) ("Electric Royalties" or the "Company") is pleased to provide an asset update on its current royalty portfolio.

Electric Royalties Ltd. Logo (CNW Group/Electric Royalties Ltd.)

Brendan Yurik , CEO of Electric Royalties , commented: "We are excited that our Graphmada graphite and Seymour Lake lithium royalty assets are nearing the completion of mineral resource upgrades. We've already had 17 development updates across 10 royalties in our portfolio thus far in 2022, funded at no cost to Electric Royalties. As we expand our royalty portfolio even further, the value added to our royalties is a key benefit that we offer our shareholders."

Highlights since the Company's previous development update on April 13, 2022 :

  • Graphmada Graphite Royalty – Greenwing Resources Ltd. (ASX: GW1) announced on April 13, 2022 that it has completed its 3,268-metre drill program in Madagascar comprising 69 diamond holes, with results recording significant intercepts of graphite mineralization. The drill program has significantly expanded the mineralization footprint of the Graphmada Mineral Resource. Greenwing expects to complete the update of Graphmada's Mineral Resources estimate in Q2 2022, while continuing analysis of the remaining drill samples. Greenwing also plans to assess the undertaking of further drilling to update resource confidence and test the mineralization laterally, in width and depth. Feasibility studies are ongoing to assess the restart and expansion of mining and processing at the Graphmada Mining Complex.

  • Seymour Lake Lithium Royalty – Green Technology Metals Limited (ASX: GT1) announced on April 12, 2022 the assay results for an additional six holes from its Phase 1 step-out drilling at the Seymour Lake Project's North Aubry deposit in Ontario, Canada . The Phase 1 drilling program was designed to evaluate potential along-strike and down-dip extensions of the North Aubry deposit that were open and untested. This inaugural program has been completed with 16 holes drilled over 5,826 metres. Green Technology Metals reported thick, high-grade extensional intercepts in April.

The Phase 1 assays returned to date (nine holes) indicate substantial potential upside to the existing Seymour Lake Mineral Resource estimate. Green Technology Metals expects the updated Mineral Resource estimate for Seymour Lake to incorporate all Phase 1 results including residual pending assays for seven holes, during Q2 2022. Phase 2 (Central Aubry zone) and Phase 3 (Pye prospect) drilling at Seymour Lake is underway with a total of eight holes over 1,201 metres drilled to date across both areas.

  • Cancet Lithium Royalty – Winsome Resources Limited (ASX: WR1) announced on April 21, 2022 that it has completed its drill program of 2,142 metres comprising 23 diamond holes at the Cancet Project in Quebec, Canada , designed to provide infill drilling on known high-grade lithium mineralization identified in previous exploration, as well as to test geological anomalies indicated through various geophysical methods including magnetic surveys. Winsome expects results from the drill program will provide evidence of the extension of the strike length of the lithium mineralization, and ultimately underpin its inaugural resource estimate and delivery of a scoping study, in turn supporting ongoing strategic partnership end-user discussions. Visible spodumene crystals were detected in the pegmatites and these samples have already been sent to the laboratory for assay to identify if lithium mineralization is present 1 . Initial results from the first batch of core samples are expected during May 2022 . In addition, Cancet plans to conduct ground stripping at the current site of known mineralization to expose more pegmatite, and channel sampling to inform detailed geological mapping of the known lithium mineralization. Findings from these activities will be used to generate further drill targets.

  • Yalbra Graphite Royalty – Buxton Resources Limited (ASX: BUX) announced on May 5, 2022 that a program of works has been submitted to the Government of Western Australia's Department of Mines, Industry Regulation and Safety for approval to undertake an infill drilling program at the Yalbra graphite deposit, Gascoyne Region, Western Australia with a goal to delineate Indicated Resources at this high-grade deposit. The drilling program will commence subject to approval of the program of works and drill rig availability. The combination of improving market conditions, promising results from metallurgical work (ongoing) and project terrain which is highly amenable to siting a mining operation, positions the Yalbra Project for subsequent advancement through feasibility studies and permitting.

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

1 See Winsome Resources' press releases dated March 29, 2022 and March 31, 2022.

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 18 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.

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, 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.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/11/c3580.html

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ELECTRIC ROYALTIES ANNOUNCES $3 MILLION MARKETED PUBLIC OFFERING

ELECTRIC ROYALTIES ANNOUNCES $3 MILLION MARKETED PUBLIC OFFERING

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES /

All amounts in Canadian dollars unless otherwise stated

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Electric Royalties to Acquire 1% NSR on Sleitat Tin-Silver Project

Electric Royalties to Acquire 1% NSR on Sleitat Tin-Silver Project

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce the signing of a binding letter of intent with a wholly-owned subsidiary of Cornish Metals Inc (CUSN) to acquire a newly granted 1% Net Smelter Royalty (the "1% NSR") on mining claims comprising core strategic tenure at the Sleitat Mountain Tin-Silver deposit in Southwestern Alaska (the "Sleitat Project" or "Sleitat

Brendan Yurik, CEO of Electric Royalties commented, "We are tremendously excited about adding the first tin royalty to our metals portfolio. Tin prices have appreciated more than 90% in the past year[1] and we believe projections for tin demand remain very bullish for the foreseeable future. In Sleitat, we have transacted on one of the very few hard rock tin assets in North America. We believe securing a tin asset in a Tier 1 jurisdiction is particularly valuable in that China and Indonesia alone were responsible for more than 54% of global tin mine production in 2020.[2] The United States currently has no tin reserves, hasn't produced tin domestically since 1993 and imported 32,000 tonnes of refined tin in 2020. A 2017 paper by the USGS reviewed the tin supply situation and identified Sleitat as one of only two tin deposits in the US with potential to be economically viable."[3]

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Electric Royalties Provides Development Update Across 50% of Royalty Portfolio

Electric Royalties Provides Development Update Across 50% of Royalty Portfolio

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, says, "It's exciting to provide the first update of 2022 with active developments taking place at projects across many of the assets in our royalty portfolio. Drilling is underway on our Cancet, Seymour Lake and Chubb lithium assets. Excellent final metallurgical results have been received for the Battery Hill manganese royalty, and we are very keen to see the results of the upcoming PEA, as we believe this may be a very significant royalty for Electric Royalties.

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Lomiko Provides Update on Strategy and Regional Flake Graphite Exploration Program

Lomiko Provides Update on Strategy and Regional Flake Graphite Exploration Program

Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce an update on its strategy to further advance its regional exploration opportunities in the Grenville graphite belt with the objective of developing a sustainable and long-term natural flake graphite resource base that can feed into the graphite market at large, and the regional market for electric vehicles battery manufacturing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220516006014/en/

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Nouveau Monde and Mason Graphite Announce Strategic Investment and Conditional Option and Joint Venture Agreement on Lac Guéret Project

Nouveau Monde Graphite Inc. (" NMG ") (NYSE: NMG) (TSX-V: NOU) and Mason Graphite Inc. (" Mason Graphite ") (TSX-V: LLG) (OTCQX: MGPHF) are pleased to announce that they have entered into an investment agreement (the " Investment Agreement ") with a view towards the development and operation of Mason Graphite's Lac Guéret property (the " Property ").

Highlights include:

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NMG Provides a Quarterly Update amid Favorable Shift in Battery Material Market Conditions

  • Enhanced engagement towards offtake agreement with potential tier-1 customers in the EV and battery sector with the production of A and B samples, site visits, quality checks and commercial discussions.
  • OEMs, feeling the supply chain pressure, are turning their attention upstream to secure supplies and reduce their risks as projections indicate a flake graphite deficit of nearly 2 million tonnes per annum by the end of the decade.
  • Timely progress on construction of the Company's Phase-1 coating unit, commissioning still targeted to start before the end of H1-2022 to complete NMG's vertically integrated 2,000-tpa nameplate ore-to-battery-material value chain.
  • Significant advancement (75%) of engineering, project management, the mining plan update and economic structure for NMG's integrated 43-101-compliant feasibility study for the Phase-2 Bécancour Battery Material Plant and Matawinie Mine; conclusions planned to be announced before the end of Q2-2022.
  • Continuous progress of detailed engineering for Phase-2 Matawinie Mine.
  • Progress in structuring and securing project financing for the construction and development of the Phase-2 Bécancour Battery Material Plant and Matawinie Mine; NMG has received non-binding letters of interest from two Export Credit Agencies.
  • Safe operational and construction activities with a period-end OSHA rate of 0 at the Company's facilities and 0 for contractors' work, with no major environmental incident.
  • Period-end cash position of $43.5M.

Nouveau Monde Graphite Inc. ("NMG", "Nouveau Monde" or the "Company") ( NYSE: NMG , TSXV: NOU ) completed another quarter of diligent progress towards the establishment of what is projected to be North America's largest and first fully integrated ore-to-battery-material natural graphite production in a context of accelerated growth in the battery space and sustained pressure on supply chains. NMG maintained its focus on the completion of its Phase-1 production line with the construction of its coating unit and the advancement of its Phase-2 operations through process optimization, engineering, procurement planning, preparatory work and updated economics modelling.

New variants of COVID-19 forcing lockdowns in China, the Russia-Ukraine war as well as continued consumer enthusiasm for cleantech are creating significant pressure on raw materials sourcing for battery and electric vehicle ("EV") manufacturers. As supplies tighten, demand continues to increase, with now more than 6,200 GWh of global lithium-ion battery production capacity expected by 2031 (Benchmark Mineral Intelligence, April 2022). Correspondingly, projections forecast a flake graphite deficit of nearly 2 million tonnes per annum ("tpa") by the end of the decade.

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South Star Battery Metals Invites You to Join Us at the Vancouver Resource Investment Conference

South Star Battery Metals Invites You to Join Us at the Vancouver Resource Investment Conference

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF) would like to cordially invite you to visit us at Booth #933 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Tuesday May 17 Wednesday May 18, 2022.

Former Prime Minister of Canada Stephen Harper and Former President of Mexico Felipe Calderon are two of the marquee speakers at the 2022 Resource Investment Conference. The Vancouver Resource Investment Conference (VRIC) will host over 100 international keynote speakers covering the hottest topics in finance, economics and geopolitics on May 17th and 18th, 2022.

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South Star Battery Metals Announces Small-Scale Pilot Metallurgical Testing Program for Alabama Graphite Project

South Star Battery Metals Announces Small-Scale Pilot Metallurgical Testing Program for Alabama Graphite Project

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that it has contracted North Carolina State University Mineral Research Laboratory ("MRL") to complete a metallurgical testing program using 3 x 1-tonne samples of ore from various targets within the Ceylon Graphite Project ("Project") in Coosa County, Alabama. The goal of the program is to create a representative 1 tonne ore sample to retest and confirm processing methods and reagents from previous process work. The small-scale pilot test will also generate approximately 15kg of concentrates (> 94% Cg) as well as intermediate products and tailings samples for future geotechnical, chemical, and physical testing programs to better characterize the ore, the tailings as well as final concentrates. The concentrates will then be used to test for a variety of value-add products as well as minerology, similar to the testing program completed on Santa Cruz Graphite concentrates (See March 1, 2021 press release). The metallurgical testing is expected to begin in July of 2022 and be completed in approximately 16 weeks.

Richard Pearce, President & CEO commented, "We are very excited to get started on our work program in Alabama and generate some concentrate samples we can test for industrial and value add applications including a variety battery precursor material.   Intermediate products as well as ROM and tailings samples will also be collected to help characterize the materials for future environmental and civil design work. MRL has an excellent facility nearby, and our team is excited to be working with their talented professionals. It's a great resource to have so close to the Project. If the results of this program confirm the previous test work, we will be looking to send 30 to 40 tonnes of ore to our soon to be constructed Santa Cruz plant and run through a full scale pilot plant test. We will work hard with our partners to make the Project the second new graphite mine in the Americas brought online and the first in the United States."

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Lomiko Announces Positive Results on its Initial Metallurgical Test Programs at its La Loutre Graphite Project with Results Indicating Purity of Greater Than 99.9% C

Lomiko Announces Positive Results on its Initial Metallurgical Test Programs at its La Loutre Graphite Project with Results Indicating Purity of Greater Than 99.9% C

Lomiko Metals Inc. (TSX.V: LMR) ("Lomiko Metals" or the "Company") is pleased to announce an update on the initial metallurgical programs conducted for the La Loutre graphite project. Lomiko has engaged three independent laboratories, Corem, ProGraphite and SGS Lakefield to support the value-added metallurgical testing of samples of the La Loutre graphite concentrate.

As part of the 2022 strategic objectives, as previously announced on March 3, 2022, Lomiko is undertaking several metallurgical studies to further define the chemical and physical properties of La Loutre graphite concentrate. These studies have several goals, including (a) determining the upgrading potential of the graphite flotation concentrate for value-added processing, (b) confirming the plant flowsheet to aid in the plant design for the Pre-Feasibility Study, and (c) evaluating the production of spherical graphite for anode battery applications. This characterization work facilitates the development of Technical Data Sheets (TDS) to initiate customer partnership discussions.

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