Trade spats to curb industrial metals demand: BMO
BMO Capital Markets has lowered its demand estimates for next year on the anticipation that higher tariffs and multilateral trade friction could tamp down industrial output.
HALIFAX, Nova Scotia, Feb. 24, 2022 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora"), is pleased to announce the mobilization of work crews on its newly acquired Moroccan operation (Ste Ermazon SARL). This is a large research mining concession in Morocco consisting of 9 Polymetallic/Vanadium licenses, one concession on which a former Manganese mine can be found and another concession with a Copper license. The 9 Polymetallic/Vanadium claims encompass a massive footprint of some 14,400 hectares and host Vanadium sulfide of both magmatic and hydrothermal mineralization.
The 2016 Moroccan mining code allows for three steps of mining rights: an Exploration authorization, under which applicants must enter into a contract with the mining administration detailing the planned exploration activities and investments. A Research permit, granted for three years over an area measuring 4 km by 4 km. An Exploitation (mining) license, granted for ten-year terms and renewable for successive periods of ten years until the reserves are exhausted*.
Our Elcora / Ermazon team of geologists, doctoral geologists and scouts is currently exploring the area to meet all the legal requirements of the Ministry of Mines to obtain the Exploitation mining license. The team is led by a Chief Geologist with many years of experience in the field.
The Vanadinite-experienced crew is equipped with proper machinery to extract the first sample. The material is then going to be hauled to a local distributor, tested and shipped from its warehouse. Upon achieving favorable results, the company will advance thereafter to complete a larger scale bulk sampling.
Currently on-site:
- Chief Geologist
- 2 doctoral geologists
- 4 local scouts
- Multi-purpose loader for sampling tranches
- Geotechnical equipment
Upon successful demonstration of its field test and obtaining the Exploitation licenses, Elcora will then begin production of a 500 ton per month Vanadinite mineral operation.
Commented Troy Grant CEO, ‘We are on our way to delivering on shareholder value. This current research and test production run will open the way to deliver on our mandate to become one of Morocco’s large producers in the thriving renewable energy industry.
About Elcora Advanced Materials Corp.
Elcora, founded in 2011 can mine, process, refine, and produce battery related minerals and metals. Elcora’s recent acquisition of its company changing Moroccan Vanadium, Copper, Lead, Manganese and other battery specific rare earth minerals project will add immediate commercial value to its ability to supply the worlds battery metal supply chain. And ultimately shareholder value.
For further information please visit the company's website at:
http://www.elcoracorp.com
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847 F: +1 902 446-2001.
* DLA Piper - Mining in Morocco: a legal snapshot July 13, 2017
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.
The new Moroccan mining code allows for three steps of mining rights: an Exploration authorization, under which applicants must enter into a contract with the mining administration detailing the planned exploration activities and investments. A Research permit, granted for three years over an area measuring 4 km by 4 km. A Mining (Exploitation) license, granted for ten-year terms and renewable for successive periods of ten years until the reserves are exhausted. Ermazon is in the process.
