ELCORA ADVANCED MATERIALS NEWS RELEASE
June 07 2022 - 7:00AM
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:
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.
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