Announcement Date: 2022-05-09
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: Electra Battery Materials Corp.
Project name: Iron Creek
Location: United States
Commodities: Cobalt
Highlight: Drilling results incl. 3.2m @ 0.4% Co from 450.6m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: TORONTO, ON – (May 9, 2022) – Electra Battery Materials Corporation (NASDQ:ELBM; TSX-V:ELBM) (“Electra”) is pleased to announce that drilling at its cobalt-copper mineral project in Idaho has successfully extended mineralization by an additional 180 metres to the east of the current deposit as well as down dip from the eastern edge of the resource zone. Electra’s Iron Creek Project is located in the Idaho Cobalt Belt and is one of the few primary cobalt deposits in the world. The Company completed 30,000 metres of drilling from 2017 to 2019 before pausing exploration to focus on developing its battery materials park in Canada, which will be commissioned in phases starting in Q4 2022. Iron Creek is considered to be amenable to underground mining extraction, which would result in a small footprint and minimize environmental impact. Drilling has demonstrated multiple mineralized horizons continuous along strike and down-dip. Thicker zones of mineralization of up to 30 metres occur in the eastern portions of the resource that also contain higher grades of cobalt (Figure 1).
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