Stockwatch -Diamond & Specialty Minerals Summary for Aug. 11, 2017
Martin Kepman’s Manganese X Energy Corp. (MN), up one-half cent to 10.5 cents on 11,000 shares, has completed its second phase of drilling at Battery Hill, a key part of its Houlton-Woodstock manganese project in west-central New Brunswick. The company drilled another nine holes on Battery Hill, formerly called the Sharp Farm and Moody Hill deposits. The new assays included a hit of 17.37 per cent manganese oxide over 23.6 metres, within a broader zone that averaged 13.19 per cent over 44.6 metres. The company’s vice-president of exploration, Roger Dahn, says that he and his crew are encouraged by the higher grades, which are above the historical average. He says that the company is exploring the property with the objective of identifying possible starter pits for “low-cost open-pit mining.”
Houlton-Woodstock hosts a historical resource of 7.26 million tonnes averaging 9 per cent manganese at Sharpe Farm and 9.07 million tonnes averaging 9.5 per cent manganese at Moody Hill. The largest deposit, Iron Ore Hill, contained 22.68 million tonnes averaging 10 per cent. In all, the 60-year-old estimate listed 40 million tonnes at 9.5 per cent manganese, but Manganese X will be chasing lower tonnages and higher grades for its new resource calculation.
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.