Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for a Preliminary Economic Assessment as defined under NI 43-101. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum's (CIM) "2014 CIM Definition Standards on Mineral Resources and Mineral Reserves" incorporated by reference into NI 43-101. ![]() The estimate of mineral resources may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. Readers are cautioned that mineral resources are not economic mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The first reported intercepts confirm the presence of significant cobalt mineralization associated with the pyrite zones intercepted in drilling at Ruby (table 1).Ĭautionary Note Regarding Estimates of Resources ![]() All drillholes encountered significant pyrite mineralization and results have been finalized for two holes and one wedge offset which are reported in this release. All drillholes were collared with HQ diameter core and IC22-03/3A and IC22-04A were completed with NQ core. Wedges were used to recover mineralization in zones of poor recovery (IC22-03/03A) and to extend drilling to depth where the original hole was lost above target (IC22-04/04A). Three holes and two wedge offset holes were completed on the Ruby target approximately 1.5 km southeast of Iron Creek targeting geophysical anomalies and surface outcropping cobalt mineralization (Figure 2). One hole was drilled targeting the eastern extension of the Iron Creek resource with results pending. Electra completed 1,674 meters of drilling in the 2022 exploration program.
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