on Electric Royalties Ltd. (isin : CA28500L1094)
Electric Royalties Expands Copper Resources at Zonia Project
Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announced a significant expansion of copper resources at the Zonia copper-oxide deposit in Arizona. The updated estimates reveal 113.2 million short tons grading 0.303% total copper in the Indicated category and 59.2 million short tons grading 0.254% in the Inferred category.
Brendan Yurik, CEO of Electric Royalties, commended World Copper Ltd. (TSXV:WCU) for de-risking the Zonia Copper Project, highlighting Arizona's prominence in copper production. World Copper aims to advance the project towards feasibility, with copper cathode production expected within four years.
A verification drill program is planned for the site’s historical leach pads. If successful, re-processing historically mined material could result in pre-production cash flow for Electric Royalties.
World Copper has identified further resource expansion potential at Zonia Norte, where Electric Royalties holds an option for a 1% gross revenue royalty. A technical report supporting the updated resource estimate will be filed within 45 days.
R. H.
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