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Elcora Advanced Materials: Successful Manganese Ore Testing in Morocco
HALIFAX, Noca Scotia, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora")
About this update from Elcora Advanced Materials Corp.
[{"type":"text","content":" HALIFAX, Noca Scotia, Nov. 09, 2022 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the \"Company\" or \"Elcora\"), is pleased to announce positive lab test results for the first twelve (12) assays from its Ermazon Manganese concession (16 km²) named “Atlas Fox Deposit” in Morocco. A representative amount of the mineral was sent to the SGS-certified African Laboratory for Mining and Environment (AFRILAB). Manganese (Mn) masses tested between 16% and 50% for an average of 34%. All sample locations are mapped and easily accessible for surface deposit mining. The Atlas Fox Deposit had been mined until the mid-fifties when the French rule in Morocco came to an end. The neighboring village was built for staff accommodation and administration. The mining methods were basic with a combination of open pit and underground methods. The Manganese deposit is a vein/lens with two ridges from which ore was extracted, numerous quality stockpiles were found, and the vein is still exposed in many places. The mining area is easily accessible via public road and an inclining mine haul road of 1.5 km length. Elcora will rehabilitate it including the former staging area situated at a road fork. The mining method will initially be open pit, the production potential run rate at the Atlas Fox Deposit is thought to be approximately 2,500 metric tonnes / month. In addition to several industrial applications, Manganese is an electric vehicle or EV metal. It is used to produce batteries for electric vehicles and other renewable energy applications such as electricity grid storage for Tesla’s batteries. Its status as a battery metal is expected to propel its demand in the wake of what experts predict will be a widespread transition to EVs driven by lofty climate policy goals and zero-emission targets. Troy Grant, Elcora’s CEO commented, “The results of these tests are excellent as they exceed the local buyers’ expectations. Elcora’s Morocco mining projects are on track with the objective to start production before the end of 2022. With Manganese Ore trading up to $617 USD / tonne (www.metal.com) as of November 06, 2022, it does confirm the company’s strategy to generate revenue to fund growth and new opportunities in Morocco. Surface deposit mining also represents Elcora’s low risk and minima...