- Electra Battery Materials Corporation’s (ELBM) Iron Creek cobalt-copper mineral project in Idaho successfully drilled and extended mineralization east of the current deposit
- Five of six exploration holes drilled intersected high grade cobalt mineralization
- The results meet expectations and confirm the mineralized system’s growth potential
- The Idaho project has the potential to become an important part of an EV supply chain
- Electra Battery Materials Corporation’s (ELBM) is down 7.30 per cent trading at $4.70 per share as of 3:34 p.m. ET
Electra Battery Materials (ELBM) has extended mineralization east of the current deposit at its Iron Creek cobalt-copper mineral project in Idaho.
Five of six exploration holes drilled in the most recent drill campaign intersected high-grade cobalt mineralization.
Cobalt mineralization remains open along strike in both directions and the final three holes to be reported intersected the mineralized stratigraphy over a depth extent of 400 metres to the east of the current resource.
The drill results meet the company’s expectations and confirm that the mineralized system has considerable growth potential along strike and at depth.
Drilling is also planned for the Ruby Zone located 1.5 kilometres to the southeast, where cobalt mineralization can be traced for approximately 300 metres on surface, with 27 surface rock chip samples with assays of up to 0.9 per cent.
Trent Mell, CEO of Electra, commented,
“At a time of heightened geopolitical risk, America has committed to securing a domestic supply of critical minerals for the green energy transition… Idaho is arguably the most prospective location in the world to identify new primary sources of cobalt outside the DRC.”
The Idaho project has the potential to become an important part of an EV supply chain strategy that is in the U.S.’s national interest.
Electra Battery Materials Corporation (ELBM) is down 7.30 per cent trading at $4.70 per share as of 3:34 p.m. ET.