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Manganese X (MN.V) drill program intersects wide zones of manganese oxide near surface up to 27.69%

02/16/2021

On February 16, 2021 Manganese X (MN.V) announced assay results from the fall 2020 diamond drilling program at the Company’s 100% owned Battery Hill project located near Woodstock, New Brunswick, Canada.

“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 will impact Manganese X shareholders.

“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.”

Note: Biden did that

The Battery Hill drill program of 28 holes totalling 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, MN will initiate programs for 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?” Unlike more advanced studies, a PEA can use inferred resources for its operational and financial modeling.

A positive PEA will typically create an upward re-valuation of the company, unless the spot price of the targeted mineral is plummeting – which is unlikely given the demand/supply ratio for Manganese.

“We are extremely pleased with the drill results from Moody Hill,” states Martin Kepman, CEO of Manganese X, “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,” added Kepman, “We are looking forward to the upcoming resource estimate and further metallurgical advancements in preparation for our PEA.”

“This brittle, silvery-gray metal was recently added to a list of 23 elements critical to the US economy,” reports Greg Nolan, “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.”

Manganese X is the only company in North America which is moving towards commercialization of a manganese deposit.

Metallurgical work with Kemetco Research is improving MN’s recovery rate, reducing the overall processing costs, as well as upgrading the battery grade 99.95% purification process to produce EV (Electric Vehicle) compliant low contaminant manganese products.

“Manganese X and Kemetco Research are completing the continuing testwork to develop a commercially viable flow sheet to produce battery-grade manganese products using the sustainable and ethical North American mineralization at the Battery Hill property located near Woodstock, N.B., Canada,” stated MN.

“In phase 1, using a series of bench-scale leach, purification and crystallization processes, Kemetco produced a high-purity manganese sulphate product with a purity of up to 99.95%.

This demonstrated MN’s Battery Hill mineralization can be compliant and suitable for battery manufacturing use in electric vehicles, energy storage systems and other high-tech applications.

“A ‘green wave’ is sweeping the globe and we believe manganese will be a key component in driving greater technological efficiencies as it relates to EV battery Companies like Tesla, who are pushing an agenda for manganese to replace cobalt,” added Kepman.

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.

MN stresses that this “historic resource estimate” has not been validated by modern geological standards.

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)

“Manganese continues to be spotlighted as a greener and more ethically friendly metal that could replace cobalt,” stated Kepman, “We are making excellent progress towards our goal of producing ultrahigh-purity battery-grade manganese products for the growing electric vehicle and energy storage sectors.”

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.Map Description automatically generated

“There is no manganese production in North America and there is 100% reliance on foreign imports,” stated Kepman, “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.”

  • Lukas Kane

Full Disclosure: Manganese X is an Equity Guru marketing client.

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