Manganese X Energy Announces Completion of Drilling Program on Battery Hill Project
Montréal, Québec, Canada, November 30, 2020 – Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2)(OTC: MNXXF ) (“Manganese” or the “Company”) is pleased to announce that the fall drill program has been successfully completed at the Company’s Battery Hill project located near Woodstock, New Brunswick.
Drilling ended November 29th, 2020, with 28 holes totaling 4509 meters being completed. The average depth per hole ranged between 77 to 233 meters. Final core logging and sampling is expected to be finished within a week. Once received, assay results will be compiled and then released on a timely basis.
Martin Kepman, CEO of Manganese X, comments, “Climate change and the electrification of all things motorized will accelerate investment in renewable energy and lithium-ion battery production. The dynamics of supply and demand gives Manganese X a decided geographical advantage due to a lack of evolved competitors in our singular resource space. Currently, there is no manganese production in North America and there is 100% reliance on foreign imports. Manganese X is well positioned to capitalize on this geo gap in the North American supply chain and we are looking forward to continue our discussions for potential offtake agreements”.
Battery Hill Project Highlights
- Property consists of 55 claim units totaling 1,228 hectares, located close to key infrastructure (road, power and railway);
- Previous drilling programs totaling 5,188 meters in 25 holes have been completed. Results indicated that the Moody Hill sector hosts higher grades such as 13.45% Mn over 23.6 meters (SF17-16) from 32.4m downhole, and significant amounts of red/mixed mineralization that is considered preferable with respect to metallurgical recovery of manganese (Mn);
- Current drill program 28 holes totaling 4509 meters completed to upgrade our current classification of mineralization in Moody Hill sector;
- Mercator Geological Services retained to complete mineral resource estimate and NI 43-101 technical report. Preliminary economic assessment (PEA) of the Battery Hill project to follow;
- Environmental baseline study has commenced with results expected by year-end;
- New area of surface mineralization discovered in the Maple Hill occurrence area approximately 4.4 kilometers to the north of the Moody Hill. The average of five grab samples from the surface mineralization graded 16.10% Mn.
Battery Hill Project Details
Previous diamond drilling by the Company totaled 5,188 meters in 25 holes and has been completed over a 1.8-kilometer strike length of the prospective manganese occurrence trend. These results indicate that the Moody Hill sector hosts higher grades such as 13.45% Mn over 23.6 meters (SF17-16) from 32.4m downhole, and significant amounts of red/mixed mineralization that is considered preferable with respect to metallurgical recovery of Manganese.
The current Moody Hill sector drill program was planned to upgrade our current classification of mineralization in this area, to inferred or higher resource status. During the program, the budget was expanded to allow additional drilling intended to increase the amount of mineralization potentially classified into indicated resource status.
Recently, the Company retained Mercator Geological Services Limited (Mercator) of Dartmouth, Nova Scotia to complete a mineral resource estimate for the Battery Hill project, prepared in accordance with National Instrument 43-101 (NI 43-101) and the Canadian Institute of Mining, Metallurgy and Petroleum Standards for Mineral Resources and Reserves. The mineral resource estimate and supporting NI 43-101 technical report will incorporate all previous exploration and drilling on the property as well as the results of the recently completed drill program.
Upon successful completion of the mineral resource estimate, The Company plans to immediately commence work towards initiating a preliminary economic assessment (PEA) of the Battery Hill project.
As announced on October 20, 2021, GHD has been engaged to conduct environmental baseline work on the property. During November, surface water and watercourse sediment samples were collected by GHD. The samples sites are well established to permit repeat “seasonal” sampling going forward. Results from the initial sampling event as well as the initial environmental baseline report are expected by year-end.
In other news from the Battery Hill project, prospecting has discovered a new area of surface mineralization in the Maple Hill occurrence area. Maple Hill is located approximately 4.4 kilometers to the north of the Moody Hill drill area. The average of five grab samples from the surface mineralization graded 16.10% Mn and 15.95% Fe. Details of the sample locations and assay results are outlined in the Table 1 below. Samples 284929 and 930 were collected from two old pits on the historic Maple Hill occurrence, originally discovered in 1836. Samples 284924 to 928 are located from a new mineralized area approximately 170 meters to the northeast. No significant previous exploration work has been completed in this area.
Assays were performed by Activation Laboratories Ltd using assay total digestion XRF Fusion assay method (Code 4C) with detection limit for MnO at 0.001%.
Roger Dahn, B.Sc., P.Geo. (New Brunswick), Manganese X Energy’s Vice President of Exploration, is designated as the Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.
About Manganese X Energy
Manganese’s X mission is to acquire and advance high potential manganese mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. In addition our company is striving to achieve new methodologies emanating from environmentally and geographically ethical and friendly green/zero emissions technologies, while processing manganese at a lower competitive cost.
For more information, visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and Director
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This news release contains „forward-looking information“ including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information. We seek safe harbor.