ELEC ANNOUNCES FILING OF PRELIMINARY ECONOMIC ASSESSMENT FOR MONT SORCIER MAGNETITE IRON & VANADIUM
Electric Royalties Ltd. (TSXV: ELEC) (“Electric Royalties” or the “Company”) is pleased to announce that Voyager Metals Inc. (TSXV: VONE) (“Voyager”) has filed a Preliminary Economic Assessment (“PEA”) of the Mont Sorcier iron and vanadium project (“Mont Sorcier”) located near Chibougamau, Quebec, Canada, on SEDAR.
Electric Royalties holds a 1% gross metal royalty on vanadium production at Mont Sorcier, which is projected to have a 21-year operating mine life. If the anticipated project is placed in production as set out in the PEA, the Company estimates that for the life of mine, average annual royalty revenues of US$750,000 to US$1.5 million per year, based on the US$15 to US$30 per tonne vanadium credits forecast in the PEA, may be payable.