VANCOUVER, BC, Oct. 12, 2021 /CNW/ - Elemental Royalties Corp.
("Elemental" or "the Company") (TSXV: ELE) (OTCQX:
ELEMF) is pleased to note the recent update by Capricorn Metals
Limited (ASX: CMM) ("Capricorn") announcing Steady State
Operations have been achieved at the Karlawinda Gold Project.
Elemental acquired a 2% NSR on Karlawinda in February 2021.
"Steady state production from our largest royalty with a 10+
year mine life is a major milestone," Frederick Bell, CEO of Elemental commented.
"Karlawinda will almost double our royalty revenue and underpins
the long-term outlook for Elemental with increased diversification
and exposure to a tier 1 jurisdiction in Western Australia.
With multiple performance metrics already being exceeded, the
potential for production to outperform guidance is particularly
exciting and emphasises the optionality in Elemental's high-quality
portfolio of producing royalties."
Highlights
- During the September 2021
quarter, Capricorn completed commissioning and ramp-up activities,
achieving guided throughput rates on a steady-state basis
- Gold production of 24,329 ounces with an above budget 92.6%
recovery
- Mining volumes expected to increase in the December 2021 quarter with the second mining
fleet now onsite and operating at full capacity
- From August mill throughput has been above budgeted throughput
rate for harder laterite ore
- Processing plant throughput and grade expected to increase as
higher grade and soft oxide ore mined in December 2021 quarter
- Construction and commissioning of two additional CIL tanks
providing additional leaching time for anticipated higher
processing plant throughput is nearing completion
- Production for the year ending June 30,
2022, is expected to be 110,000 – 120,000 ounces inclusive
of commissioning production
- Multiple near-pit exploration projects advanced during the
quarter and are awaiting assays
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and
Director
www.elementalroyalties.com
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.
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,
labour 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.
