Electra Battery Materials has been granted a ten-year exploration permit to further investigate its copper and cobalt properties in the Idaho Cobalt Belt in the US, which include the notable Iron Creek project.
The permit was issued by the US Forestry Service and covers 91 designated drill pad locations, and gives the company increased project certainty and operational flexibility.
This permit will allow Electra to continue its exploration activities over a substantial area of mineral-rich land.
The long-term permit is a strategic advantage for Electra, enabling the company to streamline its exploration efforts without the administrative burden of annual permit renewals.
Electra’s Idaho properties include mining patents and exploration claims covering an area of 73.15km².
These properties are situated along the strike extent of strata known for hosting cobalt-copper sulphide mineralisation.
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By GlobalData
The Iron Creek deposit, situated within the Idaho Cobalt Belt, is recognised by the US Geological Survey as part of a mineralised system that contains the largest primary cobalt resources in the US. This region is also said to be rich in copper mineralisation.
Historical work at Iron Creek has included 600m of underground development across three adits. The site is also well-connected by road to nearby infrastructure.
The Iron Creek deposit remains the primary focus, with the Ruby site emerging as the second key target for exploration.
The Iron Creek project’s resource area extends over a strike length of 1,652m and a width of 780m, reaching a vertical extent of 852m.
Electra’s properties also encompass the under-explored Redcastle and CAS properties, which show significant potential for further discoveries.
Within the boundaries of Electra’s holdings, seven occurrences of metallic mineralisation have been reported, either exposed on the surface or encountered during drilling.
Electra CEO Trent Mell said: “Securing this ten-year exploration permit is an important milestone for copper and cobalt mining in the US and supports America’s commitment to strengthening domestic critical mineral production.
“This permit provides us the necessary regulatory certainty and flexibility to advance exploration at 91 designated drilling sites, and positions Electra as a potential key contributor to North America’s evolving battery supply chain.
“Our primary near-term focus is completing construction of North America’s first battery-grade cobalt refinery, but we see substantial potential in the Idaho Cobalt Belt and are eager to resume drilling and field exploration as conditions and strategy dictate.”
In August this year, Electra secured $20m (C$27.98m) from the US Department of Defense to develop a cobalt sulphate refinery in Toronto, Canada.
