Elcora Develops Innovative Process To Extract Vanadium From Its Moroccan Vanadinite Deposit
January 22 2024 - 8:00AM
ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM
| OTCQB – ECORF), (the "Company" or "Elcora"), a leading
battery metals exploration company, is pleased to announce a major
milestone in its commitment to innovation and resource development
with the beginning of the metallurgical assessment and pioneering
processing test work with Lab 4 Inc. on vanadium extracted from its
Morocco Vanadinite Deposit.
Elcora's Morocco Vanadinite Deposit, known for
its rich vanadium resources, has been the focus of intensive
research and development efforts. The latest breakthrough comes in
the form of innovative processing techniques that promise to
redefine the extraction and production of vanadium, a critical
component in energy storage, steel manufacturing, and other
high-tech applications.
Currently 50-60% of the vanadium is produced
from pig iron slags that grades only about 0.25% vanadium. This
means that the potential cost of production of Elcora’s Moroccan
vanadium, at 8% grade, could be considerably less expensive both in
terms of capital and operating costs.
Key Highlights of Elcora's Processing Test
Work:
-
Efficient Extraction Process: Elcora, with the
help of Lab 4 Inc.’s team, has developed an efficient extraction
process that enhances the recovery of vanadium from the Morocco
Vanadinite Deposit. This innovative approach not only improves
resource utilization, but also contributes to sustainability
efforts within the mining industry.
-
High Purity Output: The processing test work has
yielded high-purity vanadium, meeting and surpassing industry
standards. This achievement positions Elcora as a frontrunner in
delivering premium-grade vanadium for a wide range of applications,
including energy storage solutions and advanced metallurgy.
-
Eco-Friendly Practices: Elcora remains committed
to environmentally responsible mining practices. The Company's
innovative processing methods incorporate eco-friendly techniques,
reducing the environmental footprint associated with traditional
extraction processes.
-
Market Impact: The successful processing test work
is expected to have a significant impact on the vanadium market.
Elcora aims to contribute to the growing demand for vanadium,
driven by the increasing adoption of renewable energy and the
development of advanced technologies.
Mr. Troy Grant, CEO of Elcora, expressed his
excitement about the project, stating, "Our team's dedication to
innovation has once again propelled Elcora to the forefront of the
mining industry. The processing test work not only showcases the
potential of the Morocco Vanadinite Deposit but also underlines our
commitment to sustainable resource development."
Elcora will continue to refine its processing
techniques and collaborate with industry partners to bring its
high-purity vanadium to market. The Company anticipates that these
developments will contribute to the global transition towards
cleaner energy and advanced manufacturing.
Lab 4 Inc. brings extensive experience in
processing and hydrometallurgy of energy materials to the project.
The current work has identified the processes used by historical
mining of the vanadinite. This knowledge is being applied to prove
the processes and produce sample products for verification.
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 contact: Troy
Grant, Director, President & CEO, Elcora Advanced Materials
Corp., T: +1 902 802-8847
For further information please visit the
company's website at:http://www.elcoracorp.com
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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