Highlights from the August 23, 2022 pre-updated campaign:
- Project Authier Lithium(0.5% of gross royalty) – Sayona Mining Limited (ASX:SYA) (“Sayona”) announced on 16 September 2022 the further progress of the planned restart of spodumene (lithium) production at the North American Lithium (NAL) facility in Quebec, Canada, with the permit application 95% complete , and procurement – at 94%, with most of the main procurement items already in place. Construction work has also developed, including the installation of cone crushers.
Additionally, on September 27, 2022, Sayona announced that Quebec-based L. Fournier & Fils has been awarded a contract worth approximately C$200 million to oversee all overburden and drilling operations, blasting operations, loading and transportation of ore and waste rock, mine maintenance roads, and all other services related to work in NAL. The contract is expected to create 120 new jobs.
On October 4, 2022, Sayona announced that it had launched a pre-feasibility study (PFS) to explore the option of producing lithium carbonate from spodumene produced at NAL, where spodumene concentrate production is scheduled to begin in Q1 2023. According to Sayona, the potential moving downstream can increase the long-term value and profitability of NAL’s operation. Engineering major Hatch will undertake the lithium carbonate PFS, with plans to complete it by March 2023.
Sayona plans to combine the mineralized material produced from Authier with mineralized material from the adjacent NAL site with the goal of improving the plant’s productivity and economics. PFS for NAL integrates Authier, on which Royalties for electricity has a 0.5% gross metal royalty, with NAL operations at Sayona’s Abitibi lithium center.
- Abandoned Lithium Project (1.0% Net Smelter Royalty) – Winsome Resources Limited (ASX:WR1) (“Winsome”) announced on 26 September 2022 that it has completed the first phase of environmental studies at the Cancet lithium project in Quebec, Canada. Completion of the environmental studies marks a step towards the progress of ongoing exploration activities and the mining approval process. Research and fieldwork conducted by a First Nations-led Niigaan consultancy is helping to create an ecological map database covering the Cancet property. Winsome expects the full set of environmental data to be completed in 2023.
On October 5, 2022, Winsome announced that one of approximately 15 pegmatite outcrops identified during preliminary exploration would be targeted for drilling to begin in October. This recirculation drilling program is scheduled to be completed in Kansas in December, and the company will bring one or more diamond drill rigs to the site for more thorough drilling of new targets, as well as infill and extension drilling into the underlying mineralized body.
- Battery Hill Manganese Project (2.0% gross royalty) – Manganese X Energy Corp. (TSXV:MN) (“Manganese X”) announced on October 4, 2022 that it has filed a preliminary patent for a manganese treatment process in preparation for an upcoming pilot project at the Battery Hill Manganese Project in New Brunswick. , Canada. As a next step to accelerate the development of Battery Hill, Manganese X has begun development of a field pilot plant to demonstrate its own Battery Hill mineralization process under near-commercial operating conditions with a modular design.
On October 11, 2022, Manganese X announced plans to begin a pre-feasibility study on infill and incremental drilling. The proposed drilling program is being tendered and is tentatively scheduled to begin in late October 2022. The objective of the drilling program is to supplement and expand the measured and indicated resources in preparation for the preliminary feasibility study by upgrading the included resource of the proposed mine category in the preliminary economic evaluation.
In addition to this drilling program, Manganese X is exploring engineering, environmental and social studies to support the PFS work program. Geotechnical and hydrogeological drilling is planned for early 2023 to design open pits and to improve understanding of ground conditions at the proposed infrastructure sites. Additional baseline environmental data will continue through 2022 and 2023.
- Mont Socier Iron and Vanadium Project (1.0% gross royalty) – Voyager Metals Inc. (TSXV:VONE) (“Voyager”) announced on September 27, 2022 that it has retained DRA Americas Inc. as Project Integrator for the NI 43-101 Feasibility Study of the Mont Sorcier Iron and Vanadium Project. located near Chibougamau, Quebec, Canada, along with responsibility for future mineral resource and mineral reserve assessments. All other key advisors remain unchanged. Voyager also revised the feasibility study schedule to the end of Q2 2023.
- Seymour Lake Lithium Project (1.5% net smelter royalty) –On 22 August 2022, Green Technology Metals Limited (ASX: GT1) (“Green Technology Metals”) provided an update on diamond drilling activity at the Seymour Lake lithium project in Ontario, Canada.
Drilling focus at Seymour Lake now shifts to testing lateral repetitions of the North Aubrey field to the north and drilling several mapped pegmatite targets in the Pye Complex.
Figure 1: Location map of the northern area of the Seymour Lake Project, showing the North and South Aubrey deposits, the Central Aubrey zone, and the Pye prospect. Source: Green Technology Metals.
- Chubb Lithium Project (2.0% gross royalty) – Newfoundland Discovery Corp. (CSE:NEWD) (“Newfoundland Discovery”) announced on October 4, 2022 that it has entered into a binding letter of intent pursuant to which it has transferred Mining Equities Pty Ltd. (“Mining Shares”), an Australian company, the right to acquire a 100% interest in the Chubb property consisting of thirty-five mineral claims comprising approximately 15 km.2located in Quebec, Canada.
Newfoundland Discovery granted Mining Equities an exclusive due diligence period of forty-five days in connection with the non-refundable payment of C$10,000. The closing of the transaction is subject to the fulfillment of certain conditions set forth in Newfoundland Discovery’s October 4 press release.
David Gaunt, P.Geo., a qualified person independent of Royalties for electricityreviewed and approved the technical information in this release.
1https://tradingeconomics.com/commodities
About Royalties for electricity Ltd.
Royalties for electricity is a royalty company created 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 to electrify various consumer products: cars, batteries, large-scale storage energy, production of renewable energy sources and other areas of application.
Electric vehicle sales, battery production capacity, and renewable energy production are projected to increase significantly over the next few years, and with it, demand for these target products. This creates a unique opportunity to invest in and acquire royalties for mines and projects that will supply the materials needed for the electric revolution.
Royalties for electricity has a growing portfolio of 20 royalties, including one royalty that is currently generating revenue. The company is focused primarily on receiving fees for advanced and ongoing projects to create a diversified portfolio located in low geopolitical risk jurisdictions that offers investors access to the clean energy transition through the core commodities needed to rebuild global infrastructure over the next several decades to decarbonization world economy.
For more information, please contact:
Brandon Jurick
general manager, Electric Royalties Ltd.
Phone: (604) 364‐3540
email: Brendan.yurik@electricroyalties.com
www.electricroyalties.com
Scott Logan
Renmark Financial Communications Inc.
Phone: (416) 644-2020 or (212) 812-7680
email: slogan@renmarkfinancial.com
www.renmarkfinancial.com
Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the policies of the TSX Venture Exchange) nor any other regulatory body or securities exchange platform is responsible for the adequacy or accuracy of this release.
Cautions Regarding Forward-Looking and Other Company Information
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) with respect to the Company within the meaning of Canadian securities laws. This press release contains information about other companies and projects owned by such other companies in which the Company has a royalty interest based on previously disclosed public information disclosed by those companies, and the Company is not responsible for the accuracy of this information, and that all information , presented herein is subject to this Cautionary Note regarding forward-looking and other company information.Forward-looking statements are generally identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or those that are inherently forward-looking. This information is a forward-looking statement, and actual events or results may differ materially. Forward-looking information may relate to the company’s future prospects and expected events and may include statements regarding financial results, future financial position, expected cash flow growth, business strategies, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and the company’s growth opportunities and the projects in which it has a royalty stake.
Although management believes these assumptions are reasonable, based on available information, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements of the Company or these projects to differ materially 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 related to general economic conditions; adverse industry events; marketing expenses; loss of sales markets; future legislative and regulatory changes involving the renewable energy industry; inability to access sufficient capital from internal and external sources and/or inability to access sufficient capital on favorable terms; the mining industry in general, the Covid-19 pandemic, recent market volatility, income tax and regulatory issues; 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 other risks.
For a more complete discussion of all applicable risk factors and their potential, the reader is encouraged to review the Company’s most recent SEDAR filings and other information filed with OTC Markets. effects, copies of which can be obtained from the company’s profile page at www.sedar.com and at otcmarkets.com.
SOURCE: Electric Royalties Ltd.
View the original version at accesswire.com:
https://www.accesswire.com/720261/Electric-Royalties-Provides-Update-on-Royalty-Portfolio
https://investingnews.com/minister-of-production-and-sustainable-development-of-salta-province-argentina-approves-drill-permits-for-spey-s-pocitos-salar-projects/
