Manganese X Energy Announces
Completion of Drilling Program on Battery Hill Project
- Discovers new area of surface
mineralization
- NI 43-101 technical report
commissioned
Montréal, Québec, Canada -- November 30, 2020 --
InvestorsHub NewsWire -- 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.
New Discovery
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.
Table 1
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%.
Qualified Persons
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
Manganese X's mission is to expand its existing high
potential manganese mining holdings with additional sites 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 our website at www.manganesexenergycorp.com. In
addition, through its subsidiary Disruptive Battery Corp, Manganese
X is developing an HVAC delivery system for cleaner and healthier
air that also provides proprietary and specialized solutions,
including safe disinfectants to respond to the COVID-19 Pandemic
crisis and overall deal with a major range of air quality
problems.
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.