Manganese X
Energy Starts Drilling For 'Electric Gold' At Battery Hill
Manganese Deposit
Montréal,
Québec, Canada -- October 1, 2020 -- InvestorsHub NewsWire --
Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2)(OTC: MNXXF ) ("Manganese" or the "Company")
is pleased to
announce
that drilling activity has started on the Battery Hill property in
New Brunswick.
The company will
drill approximated 25 holes
totaling a minimum of 3,200 meters The average depth per
hole range between 100 to 250
meters
The
intent of the
drill program is to significantly expand
and upgrade our current classification of mineralization to
inferred or higher resource status. The program will focus on
near surface, higher grade areas of the deposit such as the Moody
Hill zones. The Company is exploring
the
property with the objective of future development through low cost
open pit mining. Higher grade areas such as Moody Hill may
represent candidate "starter pit" locations.
Martin Kepman,
CEO of Manganese X Energy, comments, "We are accelerating our
drilling
agenda to take advantage of the current attention and demand on
manganese as a key cathode component in battery chemistry.
Tesla Battery Day
was a call to action for companies in the energy metals sector.
Elon Musk is looking to source battery grade manganese which we have dubbed
"electric gold" from the North American chain. We feel our
property, being 12 miles from the US border gives us a decided
advantage. We are the only manganese property in North America on a
fast track to commercialization."
Previous diamond drilling by
the Company totals 5188 meters in 25 holes and has been completed
over a 1.8 kilometer strike length of the prospective manganese
occurrence trend. Most holes intercepted significant grades and
widths of manganese mineralization such as 10.75% Mn over 52.6
meters in SF-16-05, 12.96% Mn over 32.85 meters in SF-16-08
and 9.39% Mn over 74.0 meters in SF-17-18 (all core
lengths). Moody Hill was highlighted as
a priority area for resource
expansion.
Upon successful
completion of the drill program and ongoing
metallurgical studies recommended in the June 2020 NI 43-101
technical report, work will be initiated toward the completion of a
preliminary economic assessment (PEA).
Manganese X
Energy would like to acknowledge the financial support provided by the
Province of New Brunswick through the New Brunswick Junior Mining
Assistance Program (NBJMAP).
The Company
further confirms it is well capitalized to execute on all corporate
activities in the next eighteen to twenty-four months.
Manganese's
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 geographically
ethical and friendly green/zero
emissions, 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 of
Manganese X Energy Corp.
Martin
Kepman
CEO and
Director
Email:
martin@kepman.com
Tel:
1-514-802-1814
Cautionary
Note
Regarding Forward-Looking Statements:
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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.