ELCORA ADVANCED MATERIALS NEWS RELEASE
HALIFAX, Nova Scotia, June 07, 2022 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora"), is pleased to announce the acquisition of seven (7) new Vanadinite/Vanadium Research Licenses (16 km² each) in Morocco.
Since November 2021, Elcora has achieved 100 percent ownership of seventeen (17) Polymetallic/Vanadium Licenses, which include a former Vanadium mine, that have the potential to add significant mineral reserves to Elcora’s asset base in Morocco.
Fifteen (15) of those licenses are contiguous covering 240 km². Elcora has begun an exploration program on two (2) claims including geological mapping, sampling and assaying to conclude an NI 43-101 report that will evaluate the Polymetallic licenses for Vanadium, Lead and other metals on the surface deposit. As per the geological features of the country, Morocco is well known for hosting a large number of battery minerals and metals including Vanadinite, Copper, Silver, Cobalt, Gold and Manganese resources.
In addition to the 17 Polymetallic/Vanadium licenses, Elcora also owns one (1) Copper Research License and one (1) Manganese Research License which also includes a former Manganese mine. The nineteen (19) concessions altogether encompass a massive footprint of some 30,400 hectares (304 km²). Most of those Polymetallic/Vanadium claims host vanadium sulfide of both magmatic and hydrothermal mineralization. All essential components of electrification and energy storage for the planet. Additional metals and copper mineralization are present from previous open-pit mining.
Elcora’s in-country projects are on track to achieve 2022 production.
Troy Grant, Elcora’s CEO, commented “this acquisition is a significant step for the company’s strategy of increasing its revenue and new growth opportunities in Morocco. We believe this is a great opportunity to diversify the portfolio, with low risk and minimal capital outlay. We have been invited to proceed and will now build momentum by working through the information and process requirements set out by our team and the Government of Morocco. We look forward to keeping shareholders informed of developments throughout 2022”.
About Elcora Advanced Materials Corp.
Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry.
For further information please visit the company's website at:
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in 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. This News Release includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Elcora’s expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.
