Electric Royalties To Acquire 1% NSR on Rana Nickel Project

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[{"type":"text","content":"Electric Royalties To Acquire 1% NSR on Rana Nickel ProjectVANCOUVER, BC / ACCESSWIRE / October 19, 2021 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (\"Electric Royalties\" or the \"Company\") is pleased to announce the signing of a letter of intent with Scandinavian Resource Holdings (\"SRH\") and Global Energy Metals Corp. (TSX-V: GEMC) to acquire a 1% net smelter revenue royalty (the \"1% NSR\") on four exploration licenses totaling 25 square kilometers in the Råna mafic-ultramafic intrusion in Northern Norway, including the past producing Bruvann Nickel mine (the \"Rana Nickel Project\" or \"Rana\").Rana Nickel Royalty Acquisition HighlightsIncludes the past producing Bruvann Ni-Cu-Co mine that shut down in 2002 due to low nickel prices, which has significant remaining historical resources.Located adjacent to main north-south highway and in an area with a long history of mining and skilled manpower.Available mine infrastructure includes power, roads, and conveyor from mine site to existing port facilities.Large historical drill database of 3,845 holes which demonstrates compelling near mine exploration potential.Underexplored property with demonstrated exploration potential.Rana Nickel Project OverviewThe Rana Nickel Project is located on the Ofoten Fjord in Northern Norway and is ice-free year-round. The project includes the past producing Bruvann Ni-Cu-Co mine which was in production from 1989 until 2002 and processed 8.2 million tonnes of ore at an average grade of 0.52% Ni, 0.1% Cu and 0.02% Co1.A historical estimate of the remaining resource is 9.15 million tonnes at grades of 0.36% Ni, 0.09% Cu and 0.01% Co above a cut-off of 0.3% Ni1. The mineralization is reported to be open in several directions.The estimate was obtained from a report prepared by the Norwegian Geological Survey (\"NGU\"). No classification of the estimate was reported. The estimate is historical in nature and does not qualify as mineral resources under CIM Definition standards and NI 43-101. A qualified person under has not done sufficient work to classify the estimates as current mineral resources and the Company is not treating them as current.Bruvann is located 2 km away from a shipping dock with an existing conveyor connecting the mine site with dock facilities. Mine roads and power facilities as well as some of the mine buildings ha...

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