Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) has said in a portfolio update that two of its lithium royalty assets are headed towards resource upgrades.
The Vancouver-based firm, which is focused on advanced stage and operating projects that offer exposure to the clean energy transition, has 18 royalty assets under its portfolio, including one that is already generating revenue.
CEO Brendan Yurik told shareholders that the company is excited that its Graphmada graphite and Seymour Lake lithium royalty assets are nearing the completion of mineral resource upgrades.
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Graphmada operators Greenwing Resources Ltd have completed a drill program that has significantly expanded the mineralization footprint, according to Electric Royalties. Greenwing plans to complete the update of the mineral resource estimate in the second quarter of 2022.
At Seymour Lake, project operators Green Technology Metals Limited announced recently that assays to date indicate “substantial” potential upside to the existing mineral resource estimate. A new resource estimate is expected to be released during the second quarter of 2022, according to Electric.
Elsewhere, the royalty company reported positive developments on its Cancet lithium royalty, where drilling is ongoing, and at the Yalbra graphite royalty, where drilling is about to start on the high-grade deposit.
“We've already had 17 development updates across 10 royalties in our portfolio thus far in 2022, funded at no cost to Electric Royalties,” CEO Yurik said in the statement. “As we expand our royalty portfolio even further, the value added to our royalties is a key benefit that we offer our shareholders."
Contact Angela at angela@proactiveinvestors.com
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