Elcora’s combination of mining and mineral processing experience along with battery testing capabilities means that it is not limited to Graphite, Graphene and Li-Ion battery applications. In December 2021 Elcora took a further step ahead and purchased 100% of the shares of Ermazon SARL in Morocco (Ermazon). At the time of deal closure, the Company owned 10 Vanadinite (a Lead/Vanadium mineral) research licenses, one Manganese research license and one Copper research license. Nine of the 10 Vanadinite licenses are located in the Atlas Lion Deposit area.
Since the initial takeover by Elcora, Ermazon acquired an additional 7 Vanadinite research licenses in the Atlas Lion Deposit area with the standard size of 1600 hectares each to control a contiguous Vanadinite licensed area of 256,000 hectares (256 km2). One of the new licenses contains a former French-owned Vanadinite mine. All polymetallic research Licenses contain the mineral Vanadinite, which contains high levels of Lead, Vanadium and traces of Cobalt, Copper, Tantalum and other metals. Research works are in progress on those concessions and the application for the production license combining all 16 Atlas Lion Deposit Vanadinite licenses is in process.
Elcora also applied for the Manganese production license with the Moroccan authorities. Elcora expects to obtain the final approval during the first half of 2022. This Manganese license area contains a mine which operated during French colonial times. Preliminary test results show a 31% Manganese content.