Elcora Develops Innovative Process To Extract Vanadium From Its Moroccan Vanadinite Deposit

HALIFAX, Nova Scotia, Jan. 22, 2024 (GLOBE NEWSWIRE) -- ELCORA ADVANCED MATERIALS CORP. (TSX.V:ERA | Frankfurt:ELM | OTCQB – ECORF), (the "Company" or "Elcora"), a leading battery metals exploration company, is pleased to announce a major milestone in its commitment to innovation and resource development with the beginning of the metallurgical assessment and pioneering processing test work with Lab 4 Inc. on vanadium extracted from its Morocco Vanadinite Deposit.

Elcora's Morocco Vanadinite Deposit, known for its rich vanadium resources, has been the focus of intensive research and development efforts. The latest breakthrough comes in the form of innovative processing techniques that promise to redefine the extraction and production of vanadium, a critical component in energy storage, steel manufacturing, and other high-tech applications.

Currently 50-60% of the vanadium is produced from pig iron slags that grades only about 0.25% vanadium. This means that the potential cost of production of Elcora’s Moroccan vanadium, at 8% grade, could be considerably less expensive both in terms of capital and operating costs.

Key Highlights of Elcora's Processing Test Work:

1. Efficient Extraction Process: Elcora, with the help of Lab 4 Inc.’s team, has developed an efficient extraction process that enhances the recovery of vanadium from the Morocco Vanadinite Deposit. This innovative approach not only improves resource utilization, but also contributes to sustainability efforts within the mining industry.
2. High Purity Output: The processing test work has yielded high-purity vanadium, meeting and surpassing industry standards. This achievement positions Elcora as a frontrunner in delivering premium-grade vanadium for a wide range of applications, including energy storage solutions and advanced metallurgy.
3. Eco-Friendly Practices: Elcora remains committed to environmentally responsible mining practices. The Company's innovative processing methods incorporate eco-friendly techniques, reducing the environmental footprint associated with traditional extraction processes.
4. Market Impact: The successful processing test work is expected to have a significant impact on the vanadium market. Elcora aims to contribute to the growing demand for vanadium, driven by the increasing adoption of renewable energy and the development of advanced technologies.

Mr. Troy Grant, CEO of Elcora, expressed his excitement about the project, stating, "Our team's dedication to innovation has once again propelled Elcora to the forefront of the mining industry. The processing test work not only showcases the potential of the Morocco Vanadinite Deposit but also underlines our commitment to sustainable resource development."