VANCOUVER, BC, Sept. 3, 2021 /CNW/ - Elemental Royalties Corp.
("Elemental" or "the Company") (TSXV: ELE) (OTCQX:
ELEMF), a diversified gold royalty company focused on quality,
accretive and revenue-generating acquisitions across established
and emerging mining regions, is pleased to note the announcement by
Capricorn Metals Limited ("Capricorn") (ASX: CMM) that the
Karlawinda Gold Project is transitioning to steady state
operations.
"Only two months from first gold pour, Karlawinda's
annualised August production rate of approximately 115,000 ounces
is an excellent achievement and highlights the quality of the
project and management team at Capricorn" Frederick Bell,
CEO of Elemental commented. "With an expected increase in
throughput processing rates from September and ongoing progress
towards steady state operations, these early production figures are
very encouraging."
Karlawinda August Operating Results
- Operation generating strong positive cashflow and in good
position to achieve goal of steady state operations by end of
September
- Estimated 9,800 ounces gold production in August, equivalent to
an annualised run rate of 115,400 ounces in only the second month
since first gold pour
- This annualised rate is equivalent to royalty revenue of
approximately US$4.0 million for
Elemental at an US$1,800/oz gold
price
- Achieved with a mill availability of 94.8% and in spite of a
number of shutdowns for commissioning and rectification
activities
- Annualised throughput rate of 4.2 million tonnes per annum
using exclusively hard laterite feed in line with targeted
range
- Addition of soft oxide ore expected in September should
contribute to increased throughput with a long term targeted range
of 4.5 – 5 Mtpa from the oxide and fresh rock blend
- Milled grade in line with expectations and gold recovery of
93.5% through the CIL circuit has been above expectations, allowing
a coarse grind to be utilised which assists throughput
- Early reconciliation indicates that mining is achieving grade
control ounces
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and
Director
Elemental is a proud member of Discovery Group. For more
information please visit: www.discoverygroup.ca or contact
604-653-9464.
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V
in Canada and provides investors
with lower risk precious metals exposure through a portfolio of
nine high-quality royalties. This enables investors to
benefit from ongoing royalty revenue, future exploration upside and
low operating costs. Elemental's experienced team seeks to secure
royalties in advanced precious metals projects, run by established
operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans, FAusIMM, is Senior
Vice President Technical for Elemental, and a qualified person
under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, has reviewed and approved the scientific and
technical disclosure contained in this press release.
Neither the TSX-V nor its Regulation Service Provider (as
that term is defined in the policies of the TSX-V.) accepts
responsibility for the adequacy or accuracy of this press
release.
Cautionary note regarding forward-looking
statements
This release contains certain "forward looking
statements" and certain "forward-looking information" as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not
limited to, statements with respect to the future growth and
development of the Company. Forward-looking statements and
information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed
by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Forward-looking statements and information are
subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of Elemental to control or predict,
that may cause Elemental's actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out herein, including
but not limited to: the requirement for regulatory approvals and
third party consents, the impact of general business and economic
conditions, the absence of control over the mining operations from
which Elemental will receive royalties, including risks related to
international operations, government relations and environmental
regulation, the inherent risks involved in the exploration and
development of mineral properties; the uncertainties involved in
interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and
continuity of mineral deposits; the impact of the COVID-19
pandemic; the possibility that future exploration, development or
mining results will not be consistent with Elemental's
expectations; accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties or interruptions in
operations; fluctuating metal prices; unanticipated costs and
expenses; uncertainties relating to the availability and costs of
financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; currency
fluctuations; regulatory restrictions, including environmental
regulatory restrictions; liability, competition, loss of key
employees and other related risks and uncertainties. Elemental
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE Elemental Royalties Corp.