Nevada Silver Corporation has announced plans for a corporate name change to “Electric Metals (USA) Limited”. The Company – states a press note – feels that the change of name, which will be subject to all required regulatory, TSX Venture Exchange (“TSXV”), and shareholder approvals, will better reflect the entirety of its value proposition as a developer of battery and technology-related minerals, including its US manganese and silver properties.
NSC’s CEO Gary Lewis commented, “our existing portfolio of assets includes the Emily Manganese Project in Minnesota, which contains a high-grade manganese deposit. We believe there is burgeoning domestic US demand for metals and materials essential to the operation of electric vehicles, rechargeable batteries, and other high-tech industries. As a result, a corporate name that only references the “silver” aspect of our operations is no longer appropriate for the Company.”
It is intended that the Company’s flagship asset will become the Emily Manganese Project which the Company believes contains North America’s highest-grade manganese resource, and has been the subject of considerable technical studies, with US$24 million having been historically invested to date. NSC will retain 100% ownership of the Corcoran Silver project, with an NI 43-101 mineral resource of 33.5 million silver-equivalent ounces, and the Belmont Silver project which was among the earliest and richest silver mining camps in Nevada.
The Emily Manganese Project involves the development of a high-grade manganese deposit, located in the Cuyuna Iron Range of central Minnesota. Brad M. Dunn, CPG, of Barr Engineering Company Limited has prepared a National Instrument 43-101 technical report titled “Resource Estimate on the Emily Property, Minnesota USA” for North Star Manganese Inc. (“NSM”), an indirect subsidiary of NSC, with an effective date of June 3, 2022 (the “Technical Report”), which will be filed under the Company’s profile on www.SEDAR.com.