Manganese X Energy Corp. Updates Battery Hill Manganese Project Mineral Resource Estimate, Posts NI 43-101 Technical Report on SEDAR
09 September 2021 - 1:30PM
InvestorsHub NewsWire
Manganese X
Energy Corp. Updates Battery Hill Manganese
Project Mineral Resource
Estimate, Posts NI 43-101 Technical Report on SEDAR
Montréal,
Québec, Canada, September
9, 2021,
InvestorsHub NewsWire -- Manganese X Energy
Corp. (TSXV:
MN) (FSE: 9SC2) (OTC:QB MNXXF) ("Manganese
X", "MN" or
the "Company") is
pleased to announce that Mercator Geological
Services Limited ("Mercator"), on August 20th 2021, has
posted a complete Mineral Resource Estimate ("MRE") for
the Battery Hill Manganese project (the "Project") on
www.sedar.com.
This detailed,
133-page Technical Report summarizes all
exploration work on the property including historical and recent
diamond drilling by Manganese X, that forms the basis of the MRE
and makes recommendations for further exploration and development
work on the Project.
Manganese X retained
Mercator to complete the MRE for the Project located in New
Brunswick, Canada to document the resource in accordance with the
CIM Definition Standards for Mineral Resources and Reserves and
National Instrument 43-101 ("NI 43-101"). The purpose of this
Technical Report is to provide technical disclosure in support of
the Company's first MRE for the Battery Hill Project.
The Battery Hill
Project includes Mineral Claim 5816, which consists of 55 mineral
claim units (1,228 hectares) located near Woodstock, New Brunswick,
and Mineral Claim 5745, consisting of 8 mineral claim units (179
hectares) located 10 km to the southwest. Both titles are 100%
owned by Manganese X.
Perry Mackinnon VP
of Exploration comments, "The completion of the Technical Report
and Mineral Resource Estimate for our Battery Hill property
confirming a significant Mineral Resource is a major step in the
development of this deposit and is highly supportive of our
confidence in this project. The MRE will serve well as a key
component of our Preliminary Economic Assessment, and we look
forward to the completion of that next important step."
Within the Technical
Report, Mercator recommends preparation of a Pre-Feasibility Study
for the Battery Hill project upon receipt of a positive economic
evaluation from the Preliminary Economic Assessment ("PEA")
currently in progress.
Highlights:
-
Battery Hill
project mineral resource estimate consists of 34.86 million
tonnes of Measured and Indicated mineral resources grading 6.42%
Mn, plus an additional 25.91 million tonnes of Inferred mineral
resources grading 6.66% Mn utilizing a 2.5% Mn cut-off
grade that reflects total operating costs having "reasonable
prospects for economic extraction".
-
Sensitivity
analysis of the Battery Hill deposit to cut-off grade
indicates 12.25 million
tonnes of Measured and Indicated mineral resources at 8.77% Mn and
10.61 million tonnes of Inferred mineral resources grading 9.05%
Mn utilizing a cut-off grade of 7%
Mn.
-
The PEA will
evaluate the economic and commercial viability of the Project to
produce premium
ultrahigh-purity battery-grade manganese products for the burgeoning
North American electric vehicle and energy storage
sectors.
-
Project
economics will be maximized by optimizing production schedules and
starter pit outlines towards higher grade material such as
indicated above.
-
The very large
mineral resource base underlines the Project's potential to
sustain long term
production.
Martin Kepman, MN's
CEO said "We are all extremely encouraged by this important step
towards our Battery Hill Project becoming a unique North American
supplier to these vital industries."
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" as defined under National Instrument 43-101 Standards of
Disclosure for Mineral Projects.
Link to the complete Technical Report Filed on our website
www.manganesexenergycorp.com
https://www.manganesexenergycorp.com/wp-content/uploads/2021/08/MNX-43-101-Battery-Hill-Aug-2021.pdf
About Manganese X Energy Corp.
Manganese X's
mission is to advance its Battery Hill project into production,
with the intent of supplying value-added materials to the
lithium-ion battery and other alternative energy industries. The
Company is also striving to achieve new environment-friendly more
efficient methodologies, while processing manganese at a lower
competitive cost. The company is the only manganese company in
Canada and the USA moving rapidly toward
commercialization of
a manganese deposit.
Subsidiary
Disruptive Battery Corp.'s mission is to develop an HVAC (heating,
ventilation and air conditioning) 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. We seek safe harbour
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