Base Metals

Toronto, Ontario - TheNewswire Dec 23, 2021 Noble Mineral Exploration Inc. is pleased to announce that it has entered into Vending Agreement  with a two parties to option or acquire 576 mining claims in Central Newfoundland, covering an area totaling approximately 14,400 hectares . Click Image To View Full Size Figure 1. Noble has acquired 576 contiguous mining claims outlined in yellow in Central Newfoundland . ...


Noble Mineral Exploration Inc.

Toronto, Ontario - TheNewswire Dec 23, 2021 Noble Mineral Exploration Inc. ( "Noble" or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has entered into Vending Agreement  with a two parties (the "Parties") to option or acquire 576 mining claims (the "Claims " ) in Central Newfoundland, covering an area totaling approximately 14,400 hectares (the " Transaction ").

Click Image To View Full Size

Figure 1. Noble has acquired 576 contiguous mining claims outlined in yellow in Central Newfoundland . (Spruce Ridge property outlined in red)

The property, known as Island Pond, is located within an area of Central Newfoundland that is geologically mapped as a single unit of Cambrian-Ordovician siliclastic sediments trapped between a series of non-magnetic Devonian Plutons to the west and southeast. The plutons themselves are not considered to be of exploration interest but they could have altered the rocks around them. From the regional magnetic data, a strong magnetic trend exists within the siliclastics that is interpreted to be an unmapped volcanic intrusion.  A preliminary structural interpretation, based solely on regional scale aeromagnetic surveys, suggests a multi-fold metamorphic history with a very high potential for repetition of stratigraphy within these newly staked claims.   Spruce Ridge Resources (SHL) Foggy Pond Property, contiguous to the east, shows a similar magnetic feature.  SHL has reported their preliminary interpretation indicating the possibility for a repetition of known copper and gold mineralization on a western limb.  Preliminary interpretation of recently acquired high resolution magnetic data over Foggy Pond show localized magnetic anomalies that could be ophiolite slivers along a major northeast trending structure analogous to the Grub Line located just east of New Found Gold's high-grade gold discovery located approximately 75 km to the east.

Historic exploration on the Spruce Ridge Great Burnt and South Pond Property was found to contain economic concentrations of copper and possibly gold within volcanic rocks that intruded the siliclastic sediments. The magnetic trend at Island Pond is over 22 km in strike length and up to 3.5 km wide. This region of Newfoundland has received almost no exploration due to the thin but extensive overburden cover and lack of forest suitable for the logging industry (which would have resulted in a road infrastructure). Island Pond is contiguous to Spruce Ridge's recently staked Foggy Pond Property (see Spruce Ridge press release Dec-22-2021) and is located 14 km northwest of Spruce Ridge's South Pond gold-copper discovery and 56 km southeast of the historic Buchans high-grade zinc mine.

All exploration results disclosed in this news release are historical and are therefore non-compliant with the requirements of National Instrument 43-101.

Material terms of the Transaction are as set out below:



On Signing



On completion of Survey




The lands are not subject to any Net Smelter Royalty.

The Transaction is subject to the approval of the Board of Directors, as well as to TSX Venture Exchange approval and to compliance with securities and other laws and regulations.

Vance White, CEO States, "Noble will fly a high-resolution magnetic gradiometer survey over Island Pond in Q2 of 2022 in preparation for a summer exploration program. We are excited to work in an under-explored area that contains such a complex structural setting and is both located near a historic mining area and in a region that is undergoing very recent and intense exploration."

Michael Newbury PEng (ON), a "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.

About Noble Mineral Exploration Inc.:

Noble Mineral Exploration Inc. is a Canadian-based junior exploration company which, in addition to its shareholdings in Canada Nickel Company Inc., Spruce Ridge Resources Ltd. and MacDonald Mines Exploration Ltd., and its interest in the Holdsworth gold exploration property in the area of Wawa, Ontario, will continue to hold approximately 40,000 hectares of mineral rights in the Timmins-Cochrane areas of Northern Ontario known as Project 81 as well as an additional ~11,000 hectares in the Timmins area. Project 81 hosts diversified drill-ready gold, nickel-cobalt and base metal exploration targets at various stages of exploration. It will also hold its recently acquired Nagagami Carbonatite Complex near Hearst Ontario as well as the Buckingham Graphite Property, the Laverlochere Nickel, Copper, PGM property and the Cere-Villebon Nickel, Copper PGM property all of which are in the province of Quebec. More detailed information is available on the website at .

Noble's common shares trade on the TSX Venture Exchange under the symbol "NOB".

Cautionary Statement:

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.


H. Vance White, President

Phone:        416-214-2250

Fax:        416-367-1954


Investor Relations


Copyright (c) 2021 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

Noble Mineral

Noble Mineral


Noble Mineral Exploration (TSXV:NOB,FWB:NB7,OTC Pink:NLPXF) is a junior exploration company operating under a prospect generator model in the Timmins-Cochrane area of Northern Ontario. As a prospect generator, the company intends to sign multiple joint venture partnerships that consist of large share and warrant positions. The model is expected to provide Noble Mineral with additional liquidity opportunities while de-risking early-stage exploration as the company’s partners fund exploration on the project.

Noble Mineral holds the 79,000-hectare Project 81 property which hosts numerous drill-ready gold, nickel, cobalt, platinum, palladium and VMS-base metal targets. The property is adjacent to Glencore’s (LSE:GLEN) Kidd Creek zinccoppersilver (VMS) mine and milling complex. Noble Mineral has also signed MOUs with the Mattagami, Matachewan and TTN First Nations communities to ensure that there is mutual respect for the land and a responsible approach to exploration.

Due to the enormous size of the property, Noble Mineral has divided Project 81 into separate sections for the purpose of forming a number of joint venture exploration projects across the property. The company is planning multiple drill programs across the property that are expected to commence in the near term.

train tracks through forest

Noble Mineral recently created a pure-play nickel company, Canada Nickel Company, through the repurchase and consolidation of 100 percent of the Crawford nickel sulfide project, a part of Project 81. The company also announced its intent to complete a fully-subscribed $5 million private placement into Canada Nickel to fund the cost of the Crawford project consolidation and continue exploration and mineralogical work.

Canada Nickel is to be led by Mark Selby, who is expected to be appointed Chairman and CEO. Mark Selby was most recently President and CEO of RNC Minerals, where he led the development of the Dumont nickel-cobalt project through to a fully-permitted, construction-ready project. Before RNC Minerals, he held senior management roles at Quadra and Inco. He is recognized as a leading authority on the nickel market.

Noble Mineral has also formed numerous strategic financial and technical partnerships that apply state-of-the-art technology to help identify various types of mineralization. Some of the company’s partners include MacDonald Mines Exploration Ltd. (TSXV:BMK), a Canadian precious metals explorer; Orix Geoscience Inc., a geological consulting firm; BECI Exploration Consulting, an innovative airborne mineral exploration technology developer; CGG Multiphysics, a fully-integrated geoscience company providing leading geological, geophysical (airborne gravity gradiometer) and reservoir services; Albert Mining (TSXV:AIIM) to produce artificial intelligence (AI); IBK as their financial advisor; and Franco-Nevada (TSX:FNV) (NSR-royalty holder).

Noble Mineral’s Company Highlights

  • Operates under a prospect generator model.
  • Wholly-owned 79,000-hectare Project 81 precious, nickel-cobalt and base metal property near Timmins, Ontario.
  • Property adjacent to Glencore’s Kidd Creek VMS mine and milling complex.
  • MOUs in place with First Nations communities.
  • Recently created a pure-play nickel company, Canada Nickel Company with the consolidation of 100 percent of the Crawford nickel sulfide project.
  • Follow-up exploration planned on several areas of the project.
  • Noble closes acquisition of 50 percent interest in claims in Carnegie, Kidd, wark and Prosser townships near Timmins, Ontario.
  • Noble acquired 677 claims through staking, to cover the Nagagami Carbonatite/Alkalic Complex, located about 65 kilometers Northwest of Hearst Ontario.

Project 81

The 79,000 plus-hectare Project 81 property is located in the Timmins-Cochrane area of northern Ontario and is comprised of patented mineral rights, as well as additional contiguous staked mining claims. The property remains mostly underexplored and is prospective for gold, silver, nickel, cobalt, platinum group metals (PGM), chromium, copper, lead, VMS and zinc deposits.

Project 81 is within three kilometers of Glencore’s Kidd Creek zinc-copper-silver mine complex, 30 kilometers from the Porcupine-Destor main break and within 25 kilometers of the city of Timmins, Ontario. The property is accessible by paved highway and has access to high-voltage transmission lines, hydropower, water, mining personnel and mining service suppliers and contractors.

Noble Mineral recently began negotiating the reduction of the net smelter return (NSR) for the Project 81 patented mineral rights from five percent to two percent. “We’re pleased to have reached this understanding in relation to the NSR on Project 81, as we believe the significant reduction of the NSR Royalty will attract more option and joint venture partners to pursue and fund the exploration of our Project 81,” said Noble Mineral President and CEO Vance White.

property map in context


The Crawford nickel sulfide project covers 9,000 hectares of the larger Project 81 property and is approximately 14 kilometers north of the Kidd Creek mine. Noble Mineral recently consolidated the Crawford project into the Canada Nickel Company.

In 2017, Noble Mineral engaged Orix Geoscience Inc. to compile the historical data for several sections of Project 81, including the Crawford property. Orix identified several historical drill holes with significant nickel assay results. Drill highlights include 433.43 meters grading 0.25 percent nickel, 236.2 meters grading 0.34 percent nickel and 253.4 meters grading 0.24 percent nickel.

Noble Mineral then completed an airborne magnetic and EM survey that displayed strong magnetic anomalies over nickel-bearing bodies on the property. The anomaly has a two-kilometer strike length which could be favorable to large tonnage, low-grade and near-surface nickel deposits. It could also be amenable to low-cost, open-pit mining methods.

In 2018, Noble Mineral and its joint venture partner completed an airborne gravity gradiometer survey and an AI study over the entire township area which led to a drill program on the property. Highlights from the program include 291 meters grading 0.293 percent nickel, 118 ppm cobalt, 0.011 g/t platinum, 0.020 palladium and 0.002 g/t gold and 130.5 meters grading 0.299 percent nickel, 140 ppm cobalt, 0.028 g/t platinum, 0.055 palladium and 0.006 g/t gold and 196.5 meters grading 0.332 percent nickel, 135 ppm cobalt, 0.010 g/t platinum, 0.027 g/t palladium and 0.002 g/t gold.

In 2019, Noble Mineral released the results of its mineralogical studies which sought to determine if nickel occurs in the sulfide state and if it could be economically extracted. Twelve samples were tested and found that most of the mineralization is contained in nickel sulfides. Noble Mineral intends to follow up these results with metallurgical testing.

During the company’s 2019 winter drill program, Noble Mineral intersected 12 meters of zinc mineralization with some sections that graded greater than one percent zinc. Another hole encountered up to 18 meters of massive to semi-massive sulfide that contained anomalous and low-grade zinc.

Noble Mineral completed the project property transfer to Canada Nickel in December 2019. Since taking over the project, Canada Nickel has completed its inaugural drill program on the property, completing nine holes for a total of 5,267 meters. Four of the holes returned mineralization over a total of 500 meters, extending the strike length to over 1.4 kilometers. The area of interest remains open along strike, at depth and to the north.

A higher-grade area to the north of the structure was defined across a one-kilometer strike length. The company intersected 390 meters grading 0.271 percent nickel, 0.014 percent cobalt, including 134 meters grading 0.357 percent nickel, 0.015 percent cobalt and 0.09 g/t platinum and palladium. The structure remains open to the north, west and at depth.

Canada Nickel plans to mobilize a second drill to the property to begin drilling on additional targets and to establish an initial resource. The company also plans to accelerate its mineralogy and metallurgical testing.


Between the 1960s and 1980s, drilling and exploration were conducted at the Lucas gold project. No significant exploration work, however, has been completed on the property since the 1980s. Historic (non-NI 43-101 compliant) drill highlights include 9.14 meters grading 3.14 g/t gold and 8.84 meters grading 3.5 g/t gold. The project also has six discrete parallel IP anomalous trends that require follow-up exploration.

In 2012 and 2018, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property. The surveys outlined an anomalous gold trend that was followed up with a 3,183.93-meter drill program over 650 meters of the 1,700-meter strike length. Highlights from the 2018 drill program include five meters grading 1.42 g/t gold and 9.5 meters grading 1.84 g/t gold.

The company believes that the gold mineralization at Lucas is structurally-controlled and occur as discrete lenses stacked within the pyrite-gold mineralized tuff unit. Noble Mineral intends to conduct follow-up drilling during future work programs.


The 10,000-hectare Kingsmill property hosts a nickel-cobalt deposit with a strike length of 2,500 meters, a width between 400 meters and 800 meters and a depth of over 600 meters. The deposit has an average grade of 0.25 percent nickel and 113 ppm cobalt.

In 2012, Noble Mineral completed airborne electromagnetic and magnetic geophysical surveys on the property which were followed by a 4,922-meter drill program. Highlights from the program include 114.2 meters grading up to 0.25 percent nickel and 437.6 meters grading up to 0.28 percent nickel.

Preliminary metallurgical studies have also been conducted on the drill core samples. In 2018, a peroxide fusion analysis was performed on 32 samples from the 2012 drill program to evaluate and compare the cobalt grade of the deposit.


Noble Mineral also has signed an option and joint venture agreement with a group of private investors for 2,000 hectares and a 51 percent interest in the Carnegie project. In 2017, the joint venture completed 2,100-line-kilometers of airborne electromagnetic and magnetic surveys over the property, an airborne gravity gradiometer survey, and an AI study over the entire 10,000-hectare township.

machinery in snowMahaffy

The 4,855-hectare Mahaffy township project is approximately 20 kilometers northwest of the Kidd Creek mine. The work completed on the project includes airborne electromagnetic and magnetic geophysical surveys as well as an airTEM survey. The airTEM survey displayed a strong magnetic body that strikes east-southeast for seven kilometers.

There are also two EM conductor trends on the property that occur near, but not within, magnetic features. Noble Mineral believes that the trends are altered structures that could host gold, nickel, copper and PGEs. Noble Mineral plans to follow up on these trends with a drill program in the upcoming work season.

person working machinery

Calder, Lennox and Bradburn

The 2,400-hectare Lennox project and 8,300-hectare Calder and Bradburn projects are approximately 33 kilometers north of the Kidd Creek mine. Modern airborne electromagnetic and magnetic geophysical surveys were completed on the properties in 2012. Follow-up orientation and definition airborne magnetic and EM surveys were completed in 2017.

Noble Mineral has identified several drill-ready targets within the Calder, Lennox and Bradburn townships.. The first target is a copper-gold-silver target with a 900-meter strike length residing in the Calder township. The second target is in Lennox township and is a 1,700-meter trend that has seen limited historical exploration. In the 1960s, Inco drilled 13.4 meters grading 0.24 percent copper. The third target is a 400-meter VMS copper-lead-zinc trend in Bradburn township. Bradburn also hosts what Noble Mineral’s believes is the faulted extension of the Kingsmill nickel deposit.


The 3,681-hectare MacDiarmid property is 10 kilometers west of the Kidd Creek mine. In 2018, an airborne electromagnetic and magnetic geophysical survey was completed on the property. The survey outlined a well-developed EM magnetic feature with a 2.5-kilometer strike length that appears to be dipping steeply to the south. Noble Mineral intends to conduct follow up drilling on the property in the near term.

Moving forward

Noble Mineral is in discussions for two additional option and joint venture partnerships for Project 81. Noble Mineral also intends to follow up on the known mineralized structures with drill programs on various parts of the property.

Geologist R. Singh and helicopter

Noble Mineral’s Management Team

Vance White – President, CEO and Director

Vance White has served as President and Director of the company since 2003. He has been actively involved in the mineral exploration and production industry for over 40 years. He has also been a director and/or officer of several other reporting issuers, including Dickenson Mines Limited (taken over in 1980’s to form Goldcorp) and was the founder of AfriOre Limited (taken over by Lonmin in the 1990’s).

Robert Suttie – CFO

Robert Suttie currently works with Marrelli Support Services as its Vice President. He possesses over 20 years of experience, 10 of which were in public accounting prior to his tenure with the Marrelli organization. He specializes in management advisory services, accounting and the financial disclosure needs of the Marrelli group’s public client base. In addition to Noble, Suttie also serves as CFO for a number of other junior mining companies listed on the TSX and TSXV, leveraging his skills and experience to become integral to the reporting issuers.

Randy S.C Singh, P.Geo. (ON), P.Eng. (ON) – VP Exploration and Project Development

Randy Singh has worked as a geologist in various capacities for a number of major companies, including Utah Mines Ltd., HBMS, Noranda, Syncrude and Placer Dome in Canada, the US, Mexico, Guyana, Venezuela, Ghana and Zimbabwe, as well as for a number of juniors including Golden Star Resources, Guyana Gold Corp., Venezuelan Goldfields, Mount Grant Mines, South American Goldfields, Queenstake Resources and Gold Port Resources. He has also worked as an engineer for Syncrude Canada Ltd., EBA Engineering and Thurber Consultants.

Denis Frawley, LL.B. (McGill), B.C.L. (McGill), B.Soc.Sc. (Ottawa) – Corporate Secretary

Denis Frawley is a corporate and securities lawyer at Ormston List Frawley LLP, where he has been practicing since 2006. He regularly advises companies involved in the mineral resource exploration and mining industries on matters related to corporate law, securities law, corporate governance matters and related areas. He also routinely advises private and public companies on financings, mergers and acquisitions, joint ventures and general commercial and business matters. In addition, as part of his practice advising public companies, he frequently advises on reverse takeovers and other transformative transactions.

Prior to founding Ormston List Frawley LLP, he was a partner in Toronto at another leading Canadian law firm. He received his LL.B (common law) and B.C.L. (civil law) from McGill University in 1996, and his B.Soc.Sc (Economics) from the University of Ottawa in 1992. He is permitted to practice in Ontario and New York.

Birks Bovaird – Director

For a majority of his career, Birks Bovaird’s focus has been on the provision and implementation of corporate financial consulting and strategic planning services. He was previously the VP of Corporate Finance for one of Canada’s major accounting firms. He presently is the Chairman of Energy Fuels Inc., a premier US-based integrated uranium miner listed on the TSX and NYSE. He is Chairman of GTA Resources and Mining Inc. as well as a member of the audit committee. He has previously been involved with numerous public resource companies, both as a member of management and as a director. He is a graduate of the Canadian Director Education Program and holds an ICD.D designation.

Michael C. Newbury, P.Eng. – Director

Michael Newbury is a professional engineer, banker and project finance specialist with over 30 years experience in the operation, financing and evaluation of natural resource projects. His mining and technical expertise, as well as financial and engineering capabilities, enable the evaluation and assessment of projects, to the development of operational plans and financial structures that manage project risk, minimize equity requirements and maximize shareholder value.

Newbury has a B.Sc. from McGill University, managed Barclays Bank’s World Mining Group and the Credit Suisse Corporate Banking Group. He was one of the initial partners in Endeavour Financial and provided his technical expertise to that group for over 10 years. He has extensive experience in the evaluation and financial structuring of natural resource projects in emerging market countries including Russia, Uzbekistan, Kazakhstan, South Africa, China and Venezuela. Currently, he operates as an independent consultant and is on the Boards of a number of junior mining companies. He is Noble Mineral Exploration Inc.’s designated Qualified Person (QP) for geological reporting.

Yvan Champagne – Director

As the President of Blue Source Canada, the largest developer and marketer of greenhouse gas (GHG) reduction projects in Canada, Yvan Champagne oversees project sourcing, offset sales and brokerage and advisory services for the Canadian market. An experienced leader and entrepreneur in carbon markets, he has a great passion for and understanding of environmental technologies and GHG reduction projects.

His broad experience includes GHG project screening, assessment and contracting, advising companies and organizations across Canada on sustainable environmental strategies and programs, government relations consulting in the energy sector, public affairs and marketing, and growing companies in new markets. Champagne obtained his B.A. in Political Science from Yale University with a focus on environmental policy and business-government relations. He is also a graduate of the Kellogg-Schulich Executive MBA Program.

Dr. Samuel Peralta, Ph.D., P.Eng. – Director

Dr. Samuel Peralta has 35 years of business experience in the energy and technology sectors, overseeing business development, product and process innovation and corporate transformation. He holds a Ph.D. in physics, with industry background in energy, mobile platforms and digital media, advanced sensors and semiconductors. Currently, he is CEO of Windrift Bay, which develops and manages a portfolio of technology and media properties. He was previously Director of Business and Corporate Development at Kinectrics, overseeing $70 million annually in high-tech programs for the energy industry.

Previously, he was CEO of Qvadis, a smartphone software provider; CTO for OH Solar, a photovoltaic firm based on an acquisition from Texas Instruments; and served in key positions at Ontario Power Generation and the Ontario Laser and Lightwave Research Centre. Dr. Peralta has served on the Board of Directors of public, private and non-profit firms, with committee leadership in governance, finance and audit and special projects (M&A), including for the boards of Qvadis, Envergence, OPEL Solar, Axiom NDT, POET Technologies and the Organization of Canadian Nuclear Industries. He is currently sitting on the boards of Cobalt Blockchain Inc., Noble Mineral Exploration and Windrift Bay.

Stephen Balch, P.Geo. – Director

Stephen Balch has over 30 years of experience in mineral exploration as an exploration geophysicist. He is one of Canada’s leading experts on geophysical techniques used to identify nickel-copper sulfide and platinum-group-metal targets. Since 2010, he has served as President and a director of Triumph Instruments, a company that conducts airborne time-domain electromagnetic surveys in North America, China and Mexico.

Since 2001, he has been President of Balch Exploration Consulting Inc., a company that provides consulting services to major mining and junior exploration companies. He previously served as the President and a director of Canadian Mining Geophysics Ltd., a geophysical data recording company, from 2007 to 2015. He was President, CEO and a director of Chevrier Metals Corp. (formerly Tawsho Mining Inc.), previously a TSXV listed mining exploration company, from 2013 to 2016, as well as a director of RHC Capital Corporation (formerly Rockefeller Hughes Corporation), a TSXV listed exploration company developing oil and gas resources in Texas, from 2013 to 2016.

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Exploration Update Noble Mobilizes Drill to Dargavel/Aubin Townships to Verify Historic Gold Values

Exploration Update Noble Mobilizes Drill to Dargavel/Aubin Townships to Verify Historic Gold Values


Noble Mineral Exploration Inc.

  • Drill program designed to test historical targets drilled by Inco in the 1960's and Chevron in the 1980's

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Noble Proceeds with Agreement to Consolidate Project 81 Nickel Targets into Canada Nickel Company for 3.5 Million Shares

Noble Proceeds with Agreement to Consolidate Project 81 Nickel Targets into Canada Nickel Company for 3.5 Million Shares


Noble Mineral Exploration Inc.

Noble Mineral Exploration Inc. ( " Noble " or the "Company" ) (TSXV:NOB ) ( FRANKFURT:NB7 ) ( OTC:NLPXF) is pleased to announce that it has signed a purchase and sale agreement for the previously announced transaction to sell properties from its Project 81 to Canada Nickel Company Inc. (" Canada Nickel ").  Pursuant to the agreement, approximately 1, 23 1 patented properties and single cell mining claims (the "Properties" ) in Crawford, Lucas, Nesbitt, Aubin, Mahaffy, Kingsmill, Mabee, MacDiarmid, Dargavel and Bradburn Townships.  This transaction was previously announced by Noble in a news release on April 22, 2021.  The Properties are all within Noble's Project 81

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Electra Battery Materials Logo

Electra Battery Materials


As governments, large corporations, and established automakers turn their attention to clean energy initiatives, it’s clear the reliance on electric vehicles and battery technology is on the rise. In fact, electric vehicle (EV) sales are expected to increase ten-fold from 3.2 million units in 2020 to an astonishing 32.2 million units in 2030, resulting in an aggressive demand for battery materials as the green economy takes off. However, with the battery material market being led by China controlling over 80 percent of the current market share the need for a domestic supply chain is critical now more than ever.

Among battery supply materials, cobalt and nickel are considered crucial to lithium-ion batteries used in EVs. The battery industry requires materials such as nickel and cobalt to be supplied in a specific chemical form for the production of precursor material converted to cathode active material used in lithium-ion batteries. As the demand for EVs booms in the coming years, companies outside of China that can supply battery materials in this specific chemical form will likely present an attractive opportunity for investors.

Electra Battery Materials (TSXV:ELBM,OTCQX:ELBMF) is an ESG-focused battery materials company advancing the only fully integrated, localized and environmentally-sustainable battery park in North America. Electra is led by a highly experienced management team with decades of experience in the mining and mineral processing industry.

Electra Battery Materials’ battery materials park, the first of its kind in North America, will supply the electric vehicle industry with cobalt and nickel sulfate production, a large-scale lithium-ion battery recycling facility and battery precursor materials production . The company plans to become a leader in the battery supply chain by leveraging vertical integration opportunities in North America.
Electra Battery Materials Battery Materials Park

"Globalization has created an electric vehicle supply chain that is too long, too costly and increasingly unreliable," said Trent Mell , President & CEO in an interview with INN. "Our automaker clients have a strong interest in greater localization of the upstream supply chain to achieve greater reliability, security of long-term supply, and a lower carbon footprint. With the continent's rich mineral endowment, the rationale for supplying battery materials through Asia into a growing U.S. EV market is not sustainable. Electra will act as a bridge between North American electric vehicles and a North American source of primary and recycled material, providing a low carbon solution for zero emission vehicles.”

The creation of a nickel sulfate production line directly supports the company’s four-phase growth plan. The company is already in talks with various nickel suppliers to secure the raw materials its future nickel sulfate facility will require, which when combined with its near-term cobalt output, could power 1.5 million electric vehicles each year.

The company’s cornerstone asset, the Cobalt Refinery, is a fully-permitted, modular and environmentally-friendly facility located in Ontario, Canada. The facility will be the world’s second-largest battery-grade cobalt sulfate refinery outside of China.

The Company’s 4-phased approach to market entry allows it to grow its product line offering in line with demand from the evolving EV market, while minimizing risk and managing capital intensity.

Electra Battery Materials Cobalt Refinery

At Phase 1, the refinery is expected to be capable of supplying the EV market with 25,000 tonnes of battery-grade cobalt sulfate per annum in 2023, with a planned increase of 30 percent shortly thereafter. The company’s refinery will account for 26 percent of cobalt sulfate production outside of China.

The next stage, Phase 2, Electra will be growing its recycling business initially targeting black mass from consumer electronics and subsequently targeting primary battery scrap material from North American EV cell manufacturers.

Based on industry forecasts, there could be nearly 250,000 tonnes of lithium-ion batteries available for recycling from manufacturing scrap in North America alone by 2025. (see how to footnote Benchmark and Li-cycle)

As the e-mobility and renewable energy industries ramp up in North America, Electra will use hydrometallurgy to recycle black mass back into useable Li-ion battery materials.

The Company’s third phase involves refining nickel from 2024 to 2025, while Phase 4 involves establishing a partnership for a PCAM plant in 2025.

Developing a world-class critical mineral deposit in the USA: The Iron Creek Copper-Cobalt Project

Electra is the owner of one of the only primary copper/cobalt deposits in the United States. Cobalt is a strategic critical mineral identified by the US Government as part of their broader efforts to secure domestic supply chains.

Iron Creek will support the asset necessary for the nation’s development of the US-based a domestic EV materials supply chain.

  • Indicated Resource of 2.2 million tonnes at 0.32 percent cobalt equivalent (0.26 percent cobalt and 0.61 percent copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper
  • Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for 12.7 million pounds of contained cobalt and 40 million pounds of contained copper

Electra Battery Materials is committed to ESG initiatives with industry-leading credentials. The company’s ESG commitments include recycling, producing a low carbon footprint, fostering traceability and shortening and securing a domestic supply chain. The company’s refinery is expected to produce 51 percent lower greenhouse gases than its Chinese counterparts with higher yields and lower energy requirements.

Company Highlights

  • Electra Battery Materials Corporation (TSXV:FCC,OTCQX:FTSSF) is an ESG-focused battery materials company focused on building the first battery-grade refinery in North America. The company aims to build the only fully integrated, localized and environmentally-sustainable battery park in North America.
  • Electra’s Battery Materials park will supply the electric vehicle industry with cobalt and nickel sulfate production plants, a large-scale lithium-ion battery recycling facility and battery precursor materials production
  • The company’s Refinery is a fully-permitted, modular and environmentally-friendly hydrometallurgical facility located in Ontario, Canada. The facility will be the world’s second-largest battery-grade sulfate refinery outside of China.
  • The company’s Iron Creek Project offers strong resource growth potential to become an important critical mineral deposit for the U.S’ domestic EV supply chain. Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. The resource estimate used a 0.18 percent cobalt equivalent cutoff grade.Electra Battery Materials is committed to ESG initiatives with industry-leading credentials. The company’s ESG commitments include recycling, producing a low carbon footprint, fostering traceability and shortening and securing a domestic supply chain.

Key Projects

Electra’s Refinery

Electra Battery Materials Electra\u2019s Refinery

The Electra’s Refinery is a fully-permitted and environmentally-friendly hydrometallurgical facility located in Ontario, Canada. The facility will be the world’s second-largest non-Chinese battery-grade sulfate refinery and the only refinery in North America of its kind. The property is located near exceptional infrastructure with access to talented skilled labour. The Refinery will provide battery-grade cobalt and nickel, recycled battery materials and precursor material through its modular design.

The facility has a 10-year operating history. The company’s lithium-ion battery recycling process involves hydrometallurgical refining of Black Mass which is superior to pyrometallurgy. The process produces higher yields, significantly lower energy intensity and lower greenhouse gas emissions compared to pyrometallurgical facilities. Additionally, the process allows for lithium and graphite recoveries, unlike pyrometallurgy. The refinery is environmentally friendly as it is expected to produce 51 percent lower greenhouse gases than its Chinese counterparts. These low emissions are credited to the hydroelectric electricity grid in the area.

Electra Battery Materials strongly believes that this facility can supply the electric vehicle market in North America with 5,000 tonnes of cobalt contained as early as the fourth quarter of 2022. The company has already begun work on commissioning a lithium-ion battery recycling line in 2021. Electra Battery Materials is currently in the process of testing black mass feeds from recycled batteries and is awaiting the results from test work and engineering studies in the coming weeks.

Iron Creek Project

Electra Battery Materials Iron Creek Project

The Iron Creek project is a copper and cobalt project located in Lemhi County in the state of Idaho in the United States. The project is situated in the most prolific trend of cobalt mineralization in the US. The property spans 1,820 acres of mining patents and exploration claims. The Iron Creek project is located in the same trend as the historic Blackbird mine. The project features significant infrastructure that allows for multiple drills and underground activity. The property is accessible via an all-weather road that connects to a highway.

The property features historic exploration of 600 metres of underground development from 1970 to 1972. The company produced an updated and upgraded NI43-101 compliant resource estimate in 2020. Iron Creek currently has an Indicated Resource of 2.2 million tonnes at 0.32 percent cobalt equivalent (0.26 percent cobalt and 0.61 percent copper) for 12.3 million pounds of contained cobalt and 29 million pounds of contained copper, as well as an Inferred Resource of 2.7 million tonnes at 0.28 percent cobalt equivalent (0.22 percent cobalt and 0.68 percent copper) for an additional 12.7 million pounds of contained cobalt and 40 million pounds of contained copper. The resource estimate used a 0.18 percent cobalt equivalent cutoff grade

In total, Electra Battery Materials has completed the advanced exploration of 29,00 metres of diamond drilling to date. Electra Battery Materials believes the property has strong high-grade resource growth potential given the strike extent and open nature of the mineralization in all directors. The company is currently awaiting drill results on the property expected at the beginning of 2022.

Management Team

Trent Mell - President, Chief Executive Officer and Director

Trent Mell founded First Cobalt in 2017. Mell has more than 20 years of international business and operational experience. His mining career experience includes mine permitting, development and operations with Barrick Gold, Sherritt International, North American Palladium and AuRico Gold. Mell’s commercial experience includes M&A, joint ventures, offtake contracts and over $2.6 billion in equity and debt financings. He was also the CEO of Falco Resources. Falco Resources is the owner of the Horne project which has mineral reserves of over 6 million gold equivalent ounces. Mell was the president and head of mining of PearTree Securities. In this role, Mell created a mining team and led the firm to become the largest provider of flow-through capital in Canada, placing more than $300 million in capital in their first year.

Mell holds an EMBA from the Kellogg School of Management and Schulich School of Business, an LL.M from Osgoode Hall as well as a B.A., B.C.L. and LL.B. from McGill University.

Ryan Snyder - CPA, CA and Chief Financial Officer

Ryan Snyder has more than a decade of experience in finance. Previously, he spent five years in operations finance with Inmet Mining Corporation. In this role, he led a project to build the life-of-mine model for Cobre Panama which is one of the largest copper development projects in the world. He also led the worldwide annual budgeting and quarterly forecasting processes, oversaw operational financial reporting and analysis and conducted scenario analysis for strategic decision-making. He then joined Enirgi Group Corporation where he oversaw financial planning, asset modelling and corporate governance. Most recently, he was with Primero Mining Corp. Snyder initially began as the director of finance and treasurer of Primero Mining but later became the chief financial officer. At Primero Mining, he was part of the team that negotiated the friendly merger of Primero with First Majestic Silver in 2018. Before entering the mining industry, Synder obtained his Chartered Professional Accountant designation with KPMG LLP.

Mark Trevisiol - P.ENG. and Vice President of Project Development

Mark Trevisiol is a professional engineer with 30 years of experience in mineral processing, mining, capital projects and executive management. He spent over 20 years with Falconbridge Ltd. and Xstrata Nickel which are Glencore predecessor companies. At these companies, he held various roles, including general manager of business development and strategy, general manager of the Sudbury smelter business unit, manager of smelter operations and superintendent of the Kidd Creek Zinc plant. More recently, Trevisiol held several executive leadership and board positions, including CEO positions at Crowflight Minerals and Silver Bear Resources.

During his career, Trevisiol has been responsible for mining and mineral processing for teams of up to 300 people. He was also responsible for operations, safety and environment, custom feed, engineering, maintenance and technology. He has a demonstrated track record of increasing plant efficiency and margins, notably in treating third-party feeds. With Falconbridge Ltd., he championed a new recycling facility primarily designed to handle spent cobalt-based lithium batteries. He has worked across several commodities, including nickel, cobalt, zinc, copper, lithium, gold, and silver.

Trevisiol has an engineering degree from the University of Waterloo.

Michael Insulan - Vice President of Commercial

Michael Insulan has nearly 20 years of experience across oil and gas, bulk commodities and base and minor metals. He has worked for Royal Dutch Shell, CRU and Eurasian Resources Group. Over the past four years, Insulan has been primarily focused on the cobalt market where he has built a reputation as an industry expert.

As vice president of commercial, Insulan will have overall responsibility for marketing the company’s refined cobalt sulfate product to electric vehicle (EV) manufacturers and battery cell makers. He will also be responsible for marketing recycled cobalt, nickel, lithium and other battery materials produced by the company’s Canadian refinery. These marketing efforts are part of a proposed Phase 2 expansion to refine black mass recovered from end-of-life lithium-ion batteries.

Michael holds a Ph.D. in Economics focused on the extractive industries.

Regan P. Watts - Vice President of Corporate Affairs

Regan P. Watts is a seasoned and entrepreneurial executive with more than 20 years of public and private sector experience in corporate communications, strategy, innovation and regulatory and corporate affairs. His experience spans various industries, including infrastructure, transportation, industrial manufacturing, information technology and financial services.

Watts has provided services to Electra Battery Materials since 2019 and has been instrumental in helping communicate the company’s priorities and plans to the Government of Canada and the Government of Ontario. In his executive capacity, Watts will add U.S. corporate and regulatory affairs to his responsibilities. Electra Battery Materials has ambitious plans for its Iron Creek copper-cobalt project in Idaho which align with President Biden’s US$2 trillion green energy plan.

Before working with Electra Battery Materials, Watts was a member of IBM Canada’s senior leadership group. At IBM, Watts headed the innovation, citizenship and government affairs team.

Before IBM, he served on the executive committee of Lafarge Canada where he led corporate communications, public and regulatory affairs and corporate social responsibility. Watts had an extensive career in public service, serving in leadership roles in the Government of Canada across four federal departments. From 2006 to 2012, he served at Finance Canada, Transport Canada, Health Canada and Foreign Affairs and International Trade Canada. In 2012, Watts was awarded the Queen Elizabeth II Diamond Jubilee Medal for his public service to Canada. Watts is also a published author. Watts holds an MBA from the Ivey Business School at Western University and is president of consultancy Fratton Park Inc.

Christina Lalli - Head of Investor Relations

Christina Lalli has nearly 20 years of investor relations and capital markets experience. Lalli has spent the majority of her career in the mining sector. She has held several senior-level investor relations positions throughout her career. Christina’s contribution has been instrumental in building robust IR programs, establishing new shareholder contacts and developing important relationships within Canada, the U.S. and Europe. Before joining Electra Battery Materials, she worked for Nouveau Monde Graphite, a Canadian natural graphite and battery anode materials company, currently in development. In this role, she acted as a key force in driving the company’s market awareness and share price growth. Before that, she worked for both Osisko Metals and Osisko Mining Corporation in 2003. Osisko Mining Corporation is an important success story in Canadian mining history.

Lalli holds a BA in Psychology and Human Relations as well as a graduate diploma from the Ivey School of Business from the University of Western Ontario. She is a Certified Professional in Investor Relations (CPIR) and a long-time member of the Canadian Investor Relations Institute.

Dr. George Puvvada - Refinery Technical Manager

Dr. George Puvvada is a P.Eng. and PMP with a Ph.D. Puvvada is a highly qualified metallurgist with over 25 years of industrial metallurgical experience. Over his career, Dr. Puvvada built a reputation for developing flowsheets for difficult ores. He also delivered projects for some of the world’s largest mining companies, including Vale, Xstrata and Barrick Gold.

As Electra Battery Materials’ technical manager, Dr. Puvvada will be a key member of the senior leadership team tasked with executing the company’s refinery expansion and commissioning strategy. He will also assist in qualifying the Electra Battery Metal’s cobalt sulfate product for inclusion in Western automaker electric vehicle batteries.

Before joining Electra Battery Materials, Dr. Puvvada was employed with Northern Sun Mining. Dr. Puvvada oversaw all aspects of feed evaluation, metallurgical processing, lab supervision and project development at Northern Sun Mining. He previously spent several years as a metallurgist at the Peko Mine in Australia where he tested, developed and piloted for the recovery of base and precious metals. Dr. Puvvada has also worked with some of the world’s leading metallurgical and engineering firms, including SNC Lavalin, Tetra Tech, Ortech and SGS. Dr. Puvvada holds a Bachelor’s Degree in Mineral Processing from Andhra University in India and a Ph.D. in Extractive Metallurgy from the University of New South Wales in Australia.

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