Manganese X Energy Corp. [MN-TSXV; SNCGF-OTC; 9SC2-FSE; SSM-Lima] reported assay results from the fall 2020 diamond drilling program at the 100%-owned Battery Hill project near Woodstock, New Brunswick.
The program of 28 holes totaling 4,509 metres 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 PEA.
Martin Kepman, CEO of Manganese X, commented, “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 three of the five known manganese occurrences (including Moody Hill) having historical, non-compliant resource estimates. 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.”
A historic resource estimate covering the current Battery Hill property, by Sidwell in 1957 totalled 39 million tonnes grading 9% Mn. Sidwell concluded the Moody Hill area may contain 9,072,000 tonnes of ~9.5% Mn. At the Sharpe Farm occurrence, just 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.
A new area of surface mineralization was discovered at Maple Hill ~4.4 km north of Moody Hill. The average of five grab samples graded 20.8% MnO.
Highlights from the Moody Hill program:
Hole SF20-26 returned 11.62% MnO across 50.4 metres from 72.6 metres downhole, including 21.4 metres of 14.17% MnO (Moody Central Zone).
Hole SF20-42 returned 10.99% MnO across 44.0 metres from 120 metres downhole, including 20.0 metres of 14.36% MnO (Moody Central Zone).
Hole SF20-43 returned 12.9% MnO across 51.3 metres from 57.7 metres down hole, including 26.5 metres of 16.49% MnO (Moody Central Zone; contains program high 27.69% MnO).
Hole SF20-44 returned 13.33% MnO across 32.0 metres from 88 metres down hole (Moody Central Zone).
Hole SF20-34 returned 11.81 % MnO across 32.0 metres from 68.0 metres down hole, including 24.0 metres of 13.32% MnO (Moody West Zone).
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