Elcora Advanced Materials Corp.: 2022 Development Plans
February 03 2022 - 07:00AM
ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM
| OTCQB – ECORF), (the "Company" or "Elcora"), is
pleased to provide our shareholders with an update on development
plans for 2022.
The Company’s mandate is focused on the global
battery value chain. More specifically, we plan on both extracting
and processing battery-grade minerals and metals from its current
projects and apply them to proprietary energy storage applications.
Elcora’s competitive advantage in graphite, graphene and Li-ion
battery applications developed over the last six years with the
assistance of Canadian government grants will be combined with
additional battery metal opportunities. These opportunities have
been made available with the Company’s recent Moroccan acquisition
(STE Ermazone A.R.L.) of 10 polymetallic/vanadium
licenses/concessions which also include a former Manganese mine.
These concessions encompass a massive footprint of some 14,400
hectares. Nine (9) of the ten (10) polymetallic claims host
vanadium sulfide of both magmatic and hydrothermal mineralization.
All essential components of electrification and energy storage for
the planet. Additional rare earth and copper mineralization are
present from previous open-pit mining.
Because of Vanadium’s growing energy industry
needs, the Company’s current focus will shift to creating a
comprehensive Moroccan mining complex targeting rare earth metals
like Vanadium, Tantalum, Nobium, Manganese, Lead and Copper
annually.
Vanadium's role in the growing energy grid
storage will increase dramatically over the coming years, enabling
wider use of renewable power such as wind and solar. According to
the latest (BNEF) forecast, energy storage installations around the
world will multiply exponentially, from a modest nine gigawatts
(GW) per 17 gigawatt hours (GWh) deployed as of 2018 to 1,095 GW
per 2,850 GWh by 2040. Furthermore, the U.S. Biden administration
has also pledged to deploy 1,050 to 1,570 gigawatts of solar power
by 2050 and over 30,000 megawatts of offshore wind in the United
States by 2030, therefore the need for energy storage is
crucial.
Q1 Work program
The Company is completing a 43-101 on its newly
acquired Moroccan permits which should be completed in the coming
weeks.
The core development plan aims to “establish
several new mining operations over the next few years by initiating
an exploratory drill program in (Q1), field prospecting, permitting
of all the Company’s Moroccan licenses, expansion of mining
operation teams, and restart of a former French Manganese
mine.”
The recently acquired property STE
ERMAZONE.A.R.L will be the core of the Company’s Moroccan
operations. Mineralized polymetallic material from the projects 9
concessions will be fed to the Company’s on-site
vanadium/polymetallic ore separation plant while other rare
earth/copper mineralization from its other licensed on-site open
pits will be processed by in-country facilities.
“By acquiring Ermazone high-caliber properties,
Elcora positions itself among the future leading mining groups in
Morocco. Like other minerals and metals needed for li-ion
[lithium-ion] batteries, the thriving renewable industry will
accelerate demand for high-quality vanadium. Elcora will commence
trial production this month to obtain sufficient material for a
production process test run. We are concentrating on achieving our
goal of becoming one of Morocco’s largest producers”, said CEO Troy
Grant. “2021 was a highly successful year for Elcora where we
closed multiple strategic acquisitions that positions Elcora as one
of the largest holders of mineral claims in Morocco!”
The firm initiated a “metric/scorecard” to
monitor the plan and share updates with its stakeholders.
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:
http://www.elcoracorp.com
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.
Elcora Advanced Materials (TSXV:ERA)
Historical Stock Chart
From Feb 2024 to Mar 2024
Elcora Advanced Materials (TSXV:ERA)
Historical Stock Chart
From Mar 2023 to Mar 2024