Electra Battery drills 0.51% cobalt over 1.5 metres at Iron Creek, Idaho

Electra Battery Materials Corp. [ELBM-TSXV; ELBMF-OTCQX] reported drill results to the west of the Iron Creek cobalt-copper project have successfully extended mineralization by 130 metres along strike and by 110 metres at depth.

Iron Creek is a high grade cobalt-copper underground deposit located on private land within the Idaho Cobalt Belt, an underexplored and highly prospective cobalt and copper belt extending 60 km along strike.

Broad widths of copper mineralization continue to be intercepted along with high grade cobalt intercepts (all widths reported are true widths), including 29 metres of 0.70% copper, including 0.51% cobalt over 1.5 metres and 2.19% copper over 3 metres; 25 metres of 0.63% copper, including 0.27% cobalt over 1.2 metres and 1.72% copper over 3.7 metres and 17 metres of 0.42% copper, including 2.18% copper over 1.5 metres.

Cobalt mineralization in the footwall area of the deposit indicate that lenses of high-grade cobalt mineralization remain open at depth; extending known strike extent from 900 metres to over 1 kilometre, with mineralization open along strike and not offset by faulting; mineralization also extended by 110 metres at depth, with multiple high-grade copper lenses in the hanging wall. The company is awaiting drill results from the eastern extension of the deposit, where higher grade cobalt mineralization is frequently encountered.

“Drill results from the western side of the deposit confirm that we have continuity of mineralization in an area that has been historically underexplored,” said Dan Pace, Principal Geologist. “The extension of mineralization at depth was expected though the high grade cobalt intercepts in this copper-rich area of the deposit are a nice surprise and lends support to the view that cobalt is not confined to the east and that we could identify new high grade cobalt lenses with further drilling west and at depth.”

“At a time of heightened geopolitical tensions, American must commit to securing a domestic supply of critical minerals for the green energy transition,” said Trent Mell, CEO. “Idaho is arguably the most prospective location in the world to identify new primary sources of cobalt outside the DRC. Electra’s ultra low carbon refinery in Canada will create the first domestic supply of battery grade cobalt for EVs later this year and Idaho can become an important part of a continental onshoring strategy that is both in the national interest and good for the environment.”

Iron Creek currently has an NI 43-101 compliant Mineral Resource Estimate, outlining an Indicated Resource of 2.2 million tonnes at 0.32% cobalt equivalent (0.26% cobalt and 0.61% copper) for 12.3 million pounds of contained cobalt and Inferred Resource of 2.7 million tonnes at 0.28% cobalt equivalent (0.22% cobalt and 0.68% copper) for an additional 12.7 million pounds of contained cobalt. There is potential to extend mineralization in all directions with ongoing drilling.

Iron Creek is considered to be amenable to underground mining extraction, which would result in a small footprint and minimize environmental impact.

In 2021, exploration activities targeted extensions to the resource along strike to the cobalt-rich east and copper-rich west, where mineralization remains open for further exploration. Previous driliing delineated thick mineralized zones of up to 30 metres of true thickness and reflect broad stratabound lithological controls.