On November 30, 2020 Manganese X (MN.V) announced completion of its current drill program on the Battery Hill project, located in New Brunswick Canada.
New Brunswick is home to the warmest saltwater beaches north of Virginia, USA. At Moncton, NB – on the powerful “Magnetic Hill” – cars will reportedly roll uphill.
“Manganese is beginning to play a critical role in the evolution of new off-grid power storage systems, and cutting edge solar energy (storage) technologies,” wrote Equity Guru’s Greg Nolan on September 2, 2020.
Political winds south of the border should be of interest to Manganese X shareholders.
“President-elect Joe Biden calls climate change an existential threat to America’s environment, health, national security and economy,” recounts The Conversation, “Biden has pledged that on his first day in office he will bring the U.S. back into the Paris Climate Agreement.”
Drilling at Battery Hill ended yesterday, with 28 holes totalling 4509 meters being completed.
“Climate change and the electrification of all things motorized will accelerate investment in renewable energy and lithium-ion battery production,” stated Martin Kepman, CEO of Manganese X, “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”.
Manganese Demand Drivers:
- A critical component of the cathode material in modern alkaline, lithium, and sodium batteries
- Green/clean energy credentials – weening off fossil fuels.
- Likely to remain the preferred energy material for the future.
- Well suited for cathode mix in bulk energy storage & energy management.
- Ideal for portable power
- Key material for integrating solar and wind renewable energy.
Kepman points out that “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
- 55 claim units totaling 1,228 hectares
- Located close to road, power and railway
- Previous drilling programs totaling 5,188 meters in 25 holes have been completed.
- Moody Hill sector hosts higher grades such as 13.45% Mn over 23.6 meters (SF17-16) from 32.4m downhole
- Observed red/mixed mineralization indicates favorable 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 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.
“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,” explains MN.
“During the program, the budget was expanded to allow additional drilling intended to increase the amount of mineralization potentially classified into indicated resource status”.
MN has retained geological services contractor to complete a mineral resource estimate for the Battery Hill project, prepared in accordance with National Instrument 43-101 (NI 43-101) standards.
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, MN plans to immediately begin work towards initiating a preliminary economic assessment (PEA) of the Battery Hill project.
A PEA answers the question, “How best can this deposit be exploited to maximize its profits for investors?” A PEA can use inferred resources for its operational and financial modeling.
A PEA alone will not trigger a production green light because of the high degree of unknown risks, but it will typically create an upward re-valuation of the company.
As announced on October 20, 2021, MN is now conducting environmental baseline work on the Battery Hill property.
“In other news from the Battery Hill project, prospecting has discovered a new area of surface mineralization in the Maple Hill occurrence area,” reports MN.
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 at Maple Hill graded 16.10% Mn and 15.95% Fe.
“The centerpiece of Joe Biden’s energy and climate proposals is a call for investing US$1.7 trillion over 10 years to promote a portfolio of clean energy technologies,” stated The Conversation, “It would support advancing electric vehicles, building a national vehicle charging network, accelerating the smart grid and battery storage, scaling up tax credits for renewable technologies”.
“This brittle, silvery-gray metal was recently added to a list of 23 elements critical to the US economy,” stated Greg Nolan on September 2, 2020, “Manganese X appears to hold significant tonnage potential in the subsurface layers of its 1,228-hectare flagship Battery Hill Project in mining-friendly New Brunswick.”
The depth per hole in the just-completed Battery Hill drill program ranged between 77 to 233 meters.
Final core logging and sampling is expected to be finished within the next 7 days.
MN states that the assay results will be “compiled and then released on a timely basis”.
- Lukas Kane
Full Disclosure: Manganese X is an Equity Guru marketing client.