Elcora Advanced Materials Corp. has announced that the first 15 samples from one of Morocco’s 17 Polymetallic Vanadinite Research Licenses (16 km² each) have positive outcomes.
The mineral crops out at more than a dozen spots in the southeastern section of the studied Research license area, which is a typical Horst type formation, and is coated by a few deca-centimeters up to a maximum of 12 m to 15 m of overburden.
Three structures were detected across a 2.5 km span, with samples taken from outcrops with even mineralization and minimal carbonate interference. Hand-held screw-type drilling and Pick and Shovel down to the ore layer’s bedrock were utilized to collect samples.
Due to the simple access and evenness of the mineralization, all samples were heaped and then mixed to make a homogenous mass in the first stage. All of the sample locations are marked on a map and are easy to find. The mineral was then delivered to the SGS-certified African Laboratory for Mining and Environment (AFRILAB) with a representative sample. The masses of lead (Pb) and vanadium (V) were found to be 45, 1%, and 6, 14%, correspondingly.
In a second exploration expedition, the local team collected 14 trench samples, which were subsequently tested by the SGS-certified AFRILAB. With a high of 50, 76% Pb and 6, 66% V, the masses’ results averaged 36, 52% Pb and 4, 125% V.
These tests have yielded outstanding findings, and Elcora’s in-country projects are on schedule — a Resource NI 43-101 report will be released soon, with the goal of starting production in 2022.
The AFRILAB test results show very high-quality Polymetallic Vanadinite ore that are superior to our initial projections. With Lead trading at about $2168 USD/ton on the London Metal Exchange (LME) and Ferro Vanadium 80% at $36.75 USD/kg (Europe Price, vanadiumprice.com) as of June 07, 2022, it does confirm the company’s strategy to increasing its revenue and new growth from opportunities in Morocco.
Troy Grant, CEO, Elcora Advanced Materials Corp.
Troy Grant added, “Surface deposit mining also represents for Elcora low risk and minimal capital outlay. We are diligently working on the process requirements set out by the Government of Morocco and our team.”