Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) said its royalty partners have announced new resource estimates and drilling results at its lithium assets in northwestern Ontario and Quebec, along with promising research into environmentally-friendly graphene, among other news from their royalty portfolio.
The company’s CEO Brendan Yurik highlighted the advancement of their portfolio, with the two resource estimates announced last month, along with continued drilling at two more projects.
“At our Cancet and Seymour Lake lithium royalties, we have seen very quick progress over the past year with nearly A$100 million raised by the operators and significant work programs completed since November, 2021,” Yurik wrote in a release.
READ: Electric Royalties updates investors on 'exciting developments' across its royalty portfolio
Royalty partners Green Technology Metals Ltd have released a new interim mineral resource estimate for the Seymour Lake lithium project in northwestern Ontario. The report outines indicated mineral resources more than doubled to 5.2 million tonnes at 1.29% lithium oxide and 161 parts per million (ppm) tantalum pentoxide using a 0.2% lithium oxide cut-off.
Green Technology Metals also noted step-out drilling had resumed at the North Aubry deposit. Targeted drilling at the Pye prospect is also expected to recommence shortly.
At the Cancet lithium royalty, Winsome Resources Ltd have seen results from the recently completed 22-hole infill drilling campaign at the Quebec. project. Resource definition drilling is planned for Cancet in fall 2022 and into early 2023. The drill program is designed to further delineate the strike and grade continuity of the mineralized pegmatite body.
Meanwhile, Greenwing Resources Ltd reported on its research and development activities in collaboration with Swinburne University of Technology, including that its graphene from the Graphmada mining complex in Madagascar has been produced to a high standard in an ISO 9001 facility.
In a statement, Electric Royalties said that the milestone is a "key step" in Greenwing's plans to create a patentable and environmentally-friendly process to produce advanced materials such as expandable graphite and graphene. Greenwing and Swinburne will continue research in the coming months to use these advanced materials in the manufacture of next generation fireproof products, with a focus on mechanical strength and high-quality fire resistance.
Finally, at the Millennium copper-cobalt royalty, Metal Bank Limited released the first assay results from its Phase 1 reverse circulation infill program and step-out drilling program at the Queensland, Australia project. Ongoing diamond drilling includes shallow, large-diameter core holes for metallurgical samples as well as infill holes, to be followed by deeper diamond drilling.
Vancouver-based Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities that will benefit from the drive toward electrification of a variety of consumer products and other applications.
Contact Susie at susie@proactiveinvestors.com