Manganese
X Drill Program
Intersects Wide Zones
of Manganese Oxide Near Surface with a
Program High of 27.69%
NI 43-101
Compliant Resource Estimate Commenced
Montreal,
Quebec, Canada, February 16,
2021-
Manganese X Energy Corp. (TSXV:MN)
(FSE: 9SC2) (OTC:
MNXXF) ("Manganese" or the "Company") is pleased to
announce assay results from
the fall
2020 diamond
drilling program at the Company's 100% owned Battery Hill project
located near Woodstock, New Brunswick, Canada.
The program of 28 holes totaling 4509 meters was designed to
increase the mineral resource in the Moody Hill area and to provide
sufficient data to establish a NI 43-101 compliant mineral resource
estimate expected in late Q1 2021. Upon completion of the resource
estimate, the Company will initiate programs for a preliminary
economic assessment (PEA) of the Battery Hill project.
Martin Kepman, CEO of Manganese X comments, "We are extremely
pleased with the drill results from Moody Hill. This area is
considered the initial development target for the project. The
overall property hosts significant tonnage potential along its 7 km
length with 3 of the 5 known manganese occurrences (including Moody
Hill) having historical, non-compliant resource estimates. We are
looking forward to the upcoming resource estimate and further
metallurgical advancements in preparation for our PEA. Manganese X
is the only Company in North America which is moving towards
commercialization of a manganese deposit. Metallurgical work with
Kemetco Research Inc. will continue to assist us in improving our
recovery rate, reducing the overall processing costs, as well as
upgrading our battery grade 99.95% purification process to produce
EV (Electric Vehicle) compliant low contaminant manganese products.
A "green wave" is sweeping the globe and we believe manganese will
be a key component in driving greater technological efficiencies as
it is relates to EV battery Companies like Tesla, who are pushing
an agenda for manganese to replace cobalt."
A historic resource estimate covering the current Battery Hill
property, by Sidwell in 1957, based on a gravity survey and limited
drilling, totalled 39 million tonnes grading 9% Mn. Sidwell
concluded that the Moody Hill area may contain at least 9,072,000
tonnes of approximately 9.5% Mn. At the Sharpe Farm occurrence,
just to the north of Moody Hill, Sidwell estimated 7,257,000 tonnes
of 9% Mn and at Iron Ore Hill 22,680,000 tonnes of 10% Mn (see
Figures 1, 2 and 3).
Note: The above information has
been taken from historic sources that were not prepared or reviewed
by a Qualified Person for Manganese X Energy under NI 43-101 and
are considered historic and should not be relied upon. Manganese X
Energy is not treating the historical estimate as current resources
or reserves.
Battery Hill
Project and Drill Program Highlights:
- The recent drill program on
Moody Hill, consisting of predominantly 50 m spaced holes, has
confirmed significant widths of mineralization from surface to a
maximum vertical depth of approximately 150 meters, over a strike
length of 500 meters (Figure 1).
- Including the recent drill
program, the Company has now completed 53 holes totaling 9,697
meters over a total strike length of approximately 2.0 kilometers
(Figure 2).
- A new area of surface
mineralization has been discovered in Maple Hill area approximately
4.4 kilometers north of Moody Hill. The average of five grab
samples graded 20.8% MnO (Figure 3).
- Mercator Geological Services
has commenced a mineral resource estimate and NI 43-101 technical
report. Upon successful completion, this will form a critical part
of a proposed Preliminary Economic Assessment (PEA).
- Highlights of selected
drill holes (core width) from the Moody Hill program
include:
- SF20-26: 11.62% MnO across 50.4
m from 72.6 m downhole, including 21.4 m of 14.17% MnO (Moody
Central Zone)
- SF20-29: 11.85% MnO across 54.0
m from 147 m downhole, including 12.0 m of 20.50% MnO (Moody
Central Zone)
- SF20-42: 10.99% MnO across 44.0
m from 120 m downhole, including 20.0 m of 14.36% MnO (Moody
Central Zone)
- SF20-43: 12.9% MnO across 51.3
m from 57.7 m down hole, including 26.5 m of 16.49% MnO (Moody
Central Zone; contains program high 27.69% MnO)
- SF20-44: 13.33% MnO across 32.0
m from 88 m down hole (Moody Central Zone)
- SF20-34: 11.81 % MnO across
32.0m from 68.0 m down hole, including 24.0 m of 13.32% MnO (Moody
West Zone)
A comprehensive table of assay highlights are summarized in Tables
1 and 2. For drill hole location maps refer to Figures 1 and 2.
Readers are encouraged to visit the Company's website
at https://www.manganesexenergycorp.com.
Figure 1:
Detailed Moody Hill Drill Plan
Standard protocols and industry standard practices were employed in
logging and sampling the core. QA/QC practices included insertion
of Certified Standards, blanks and duplicates, each consisting of
5% of the total samples. Check assays of 5% of the samples are
being sent to a second laboratory.
Samples averaged 2 metres in width. True width of the intercepts
will be determined when further analysis of the drill program has
been completed, however the structure is near vertical and the
average core angle in the mineralization is 500.
A small amount of additional sampling will be done in areas of the
current core where assumed shoulder samples provided good
values.
All initial half-core samples were taken by Company personnel to
the Actlabs prep lab in Fredericton, New Brunswick where they were
either forwarded, or prepped and the pulps forwarded, to Actlabs in
Ancaster, Ontario where XRF-Fusion Whole Rock Analysis (Code 4C)
was performed. Actlabs is an accredited analysis laboratory.
Figure 2:
Battery Hill Project Drill Plan on Magnetics
Figure 3
Battery Hill Property Scale Magnetics with Mineralized
Zones
Table 1:
Moody Hill Central Zone Drill Results
Table 2:
Moody Hill West and East Zone Drill Results
This News Release has been reviewed and approved by Perry
MacKinnon, P. Geo., Vice President of Exploration with Manganese X
Energy and a "Qualified Person" under National Instrument 43-101
guidelines with regard to Standards for Disclosure for Mineral
Projects.
Manganese's X Mission is to
advance our Battery Hill project into production, with the intent
of supplying value added materials to the lithium ion battery and
other alternative energy industries, as well as achieving new
carbon-friendly more efficient methodologies, while processing
manganese at a lower competitive cost. We are the only manganese
company in North America moving forward towards commercialization.
Subsidiary Disruptive Battery
Corp.'s Mission is to develop an HVAC air purification delivery
system for cleaner and healthier air, aiming to mitigate Covid-19
and other contaminants on surfaces and in the air.
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.
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