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.
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