From antimusic.com:

A new album featuring twelve previously unreleased tracks that Ronnie James Dio recorded in 1971 will be released this October. Here is the official word with the details:

Over the years, legendary singer Ronnie James Dio fronted some of the most popular/enduring hard rock/heavy metal bands of all-time, including Rainbow, Black Sabbath/Heaven & Hell, and Dio. But before all of these bands, there was Elf. Described as a "Rock/Honky Tonk/Blues band," a forthcoming release, 'And Before Elf…There Were Elves,' will prove that Ronnie could easily handle other rock-related styles.

Released on October 11th via the Niji Entertainment Group, 'And Before Elf' will feature twelve previously unreleased tracks (all from 1971), comprised of both live in the studio and live on stage tracks.

The album will feature a striking Lenticular/3D/Hologram cover, that when you turn it, you will see two alternating images – Ronnie from the first Elf LP, as well as a vintage group shot from 1971. And although these recordings are 40 years old, the sonic quality still passes the test, as longtime Dio engineer Wyn Davis remastered the original tapes.

Formed in 1967 in Cortland, New York, The Elves also featured other members that would carve a niche for themselves in the hard rock world!
Guitarist David "Rock" Feinstein (Dio's cousin) would go on to front the Rods. Elf would last for a trio of albums, before Ronnie exited the group in 1975, to co-form Rainbow with ex-Deep Purple guitarist Ritchie Blackmore.

"And Before Elf…There Were Elves" Track Listing:

1. You Shook Me
2. Stay With Me
3. Four Day Creep
4. Buckingham Blues
5. Wakeup Sunshine
6. Driftin'
7. Smile For Me Lady
8. You Felt The Same Way
9. Simple Man
10. Drown Me In The River
11. Cold Ramona
12.. Little Queenie

Obviously, many of the tracks are from a show in the group's hometown at a club called "The Bank". The show has circulated in its' entirety on an unofficial basis as a 2-disc set. How odd that the compiler of this forthcoming disc decided not to use the group's encore song, where Ronnie Dio accidentally discovered his future musical direction. It was a cover version of Black Sabbath's "War Pigs".

I imagine at some point we may see a comp featuring Ronnie and The Redcaps, Ronnie And The Prophets, etc.

That stuff is so obscure that it might take a while to untangle publishing and licensing issues. But if Wendy Dio presses ahead with these archival releases, we might see a release like that.