VANCOUVER, BC, June 25, 2021 /CNW/ - Elemental Royalties Corp.
("Elemental" or "the Company") (TSXV: ELE) (OTCQX:
ELEMF), a diversified gold royalty streaming company focused on
quality, accretive and revenue-generating acquisitions across
established and emerging mining regions, is pleased to note the
announcement by Capricorn Metals Limited ("Capricorn") (ASX:
CMM) that it has completed construction and commenced continuous
ore processing at its Karlawinda Gold Project in Western Australia where Elemental holds a 2%
NSR royalty.
Additionally, Elemental notes the listing and exploration
program announced by Future Metals NL ("Future Metals") (ASX: FME)
who acquired the Panton PGM project where Elemental holds a 0.5%
NSR royalty.
"First ore processing on time and on budget at our largest
royalty speaks to the quality of the management team at
Capricorn," Frederick Bell, CEO
of Elemental commented. "Karlawinda is expected to almost
double our royalty revenues, and will underpin our portfolio of
high quality, cash flowing royalties. We look forward to the
announcement of first gold and progressing the mine into steady
state operations. At Panton, a significant exploration program is
planned for H2 2021 ahead of an updated Feasibility Study to
advance the project."
Karlawinda Ore Processing Commenced
- Capricorn has completed construction of its wholly owned
Karlawinda Gold Project and has started continuous ore
processing
- Commissioning activities were completed to plan over the last
three weeks, culminating in the ball mill and crushing circuit
being ready for full operations in the last week
- Processing has commenced with low grade ore and will transition
to run of mine grade ore over the next week as the operation moves
to steady state
- Karlawinda is now building gold in circuit and is expected to
pour first gold in around one week
Panton Update
- Future Metals has completed the acquisition of the palladium
rich Panton PGM project and completed listing on the Australian
Securities Exchange, releasing a detailed project review based on
historical delineation and feasibility work by previous project
owners operating in a materially lower PGM pricing environment
- Drilling to commence in Q3 2021, with an initial 10,000 metres
planned to provide high grade Resource growth with revised
feasibility studies planned to commence in 2022
- Recent metallurgical test work has shown >80% PGM recoveries
to a high-grade PGM concentrate using conventional flotation
- Panton has a Measured and Indicated JORC Resource of 12.2Mt @
2.46g/t Pd, 2.25g/t Pt, 0.3g/t Au, 0.26% Ni, 0.07% Cu for 963koz Pd
and 878koz Pt; and an Inferred JORC Resource of 2.2Mt @ 2.0g/t Pd,
1.9g/t Pt, 0.3g/t Au. 0.3% Ni, 0.1% Cu, for 139koz Pd and 129koz
Pt1.
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and
Director
Elemental is a proud member of Discovery Group. For more
information please visit: www.discoverygroup.ca or contact
604-653-9464.
TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619L1076
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V
in Canada and provides investors
with lower risk precious metals exposure through a portfolio of
nine high-quality royalties. This enables investors to
benefit from ongoing royalty revenue, future exploration upside and
low operating costs. Elemental's experienced team seeks to secure
royalties in advanced precious metals projects, run by established
operators, from its pipeline of identified opportunities.
Qualified Person
Richard Evans, FAusIMM, is Senior
Vice President Technical for Elemental, and a qualified person
under National Instrument 43-101 – Standards of Disclosure for
Mineral Projects, has reviewed and approved the scientific and
technical disclosure contained in this press release.
1 Panoramic Resources Ltd.'s
ASX announcements dated September 30,
2015, titled "Mineral Resources and Ore Reserves at
June 30, 2015", The ASX announcement
is prepared in accordance with the JORC Code and is available on
Panoramic's website at
https://panoramicresources.com/asx-announcements/.
Neither the TSX-V nor its Regulation Service Provider (as
that term is defined in the policies of the TSX-V.) accepts
responsibility for the adequacy or accuracy of this press
release.
Cautionary note regarding forward-looking
statements
This release contains certain "forward looking
statements" and certain "forward-looking information" as defined
under applicable Canadian securities laws. Forward-looking
statements and information can generally be identified by the use
of forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not
limited to, statements with respect to the future growth and
development of the Company. Forward-looking statements and
information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed
by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Forward-looking statements and information are
subject to various known and unknown risks and uncertainties, many
of which are beyond the ability of Elemental to control or predict,
that may cause Elemental's actual results, performance or
achievements to be materially different from those expressed or
implied thereby, and are developed based on assumptions about such
risks, uncertainties and other factors set out herein, including
but not limited to: the requirement for regulatory approvals and
third party consents, the impact of general business and economic
conditions, the absence of control over the mining operations from
which Elemental will receive royalties, including risks related to
international operations, government relations and environmental
regulation, the inherent risks involved in the exploration and
development of mineral properties; the uncertainties involved in
interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and
continuity of mineral deposits; the impact of the COVID-19
pandemic; the possibility that future exploration, development or
mining results will not be consistent with Elemental's
expectations; accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties or interruptions in
operations; fluctuating metal prices; unanticipated costs and
expenses; uncertainties relating to the availability and costs of
financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected
costs and expenses, commodity price fluctuations; currency
fluctuations; regulatory restrictions, including environmental
regulatory restrictions; liability, competition, loss of key
employees and other related risks and uncertainties. Elemental
undertakes no obligation to update forward-looking information
except as required by applicable law. Such forward-looking
information represents management's best judgment based on
information currently available. No forward-looking statement can
be guaranteed, and actual future results may vary materially.
Accordingly, readers are advised not to place undue reliance on
forward-looking statements or information.
SOURCE Elemental Royalties Corp.