Mr. Larry Reaugh reports
AMERICAN MANGANESE INC.: DRILL RESULTS-SEVEN MORE HOLES FROM ARTILLERY PEAK
American Manganese Inc. has received results for the following seven drill holes from its 2011 Artillery Peak drilling program. The results for the first 20 drill holes have been previously announced on June 7 and June 27, 2011.
The company initiated this drilling program on April 20, 2011, and it was completed on June 17, 2011. It is being performed using reverse circulation drilling techniques as the mineralization is disseminated and uniform. A total of 10,607 metres (34,800 feet) was drilled in 86 drill holes.
Larry Reaugh, chief executive officer, states that: "We continue to intersect large thicknesses of low-grade manganese mineralization and are continuing to close information gaps within the patented claims along the northeast flank of Manganese Mesa. The mineralized intersections continue to demonstrate the expected lateral continuity over good widths, augmented by local higher-grade intersections. The extensive mineralization at Artillery Peak occurs within sedimentary beds taking the form of paleo-alluvial fans spreading out down slope from a number of source vents."
The significant mineralized intersections for the following seven drill holes are presented in the associated table.
2011 DRILL PROGRAM
From To From To Interval Interval Grade
Hole (feet) (feet) (metres) (metres) (metres) (feet) (%Mn)
AP11-64 10 25 3.05 7.62 4.57 15 1.37
35 50 10.67 15.24 4.57 15 2.39
Including 40 45 12.20 13.72 1.52 5 4.89
55 65 16.77 19.82 3.05 10 1.52
AP11-71 25 30 7.62 9.15 1.52 5 1.25
Including 75 80 22.87 24.39 1.52 5 3.65
40 145 12.20 44.21 32.01 105 2.68
Including 100 120 30.49 36.59 6.10 20 4.68
Including 130 135 39.63 41.16 1.52 5 6.22
150 180 45.73 54.88 9.15 30 2.05
Including 175 180 53.35 54.88 1.52 5 3.10
190 195 57.93 59.45 1.52 5 1.34
AP11-75 200 220 60.98 67.07 6.10 20 2.39
230 290 70.12 88.41 18.29 60 2.21
Including 235 240 71.65 73.17 1.52 5 4.02
305 395 92.99 120.43 27.44 90 3.40
Including 315 325 96.04 99.09 3.05 10 6.51
Including 330 355 100.61 108.23 7.62 25 4.62
Including 380 390 115.85 118.90 3.05 10 3.66
400 415 121.95 126.52 4.57 15 1.51
440 470 134.15 143.29 9.15 30 1.52
AP11-78 285 310 86.89 94.51 7.62 25 1.51
315 375 96.04 114.33 18.29 60 1.85
Including 355 360 108.23 109.76 1.52 5 4.02
400 445 121.95 135.67 13.72 45 3.29
Including 405 410 123.48 125.00 1.52 5 4.58
Including 420 435 128.05 132.62 4.57 15 4.12
450 455 137.20 138.72 1.52 5 2.11
460 490 140.24 149.39 9.15 30 3.38
Including 465 490 141.77 149.39 7.62 25 3.84
500 515 152.44 157.01 4.57 15 1.54
AP11-80 320 385 97.56 117.38 19.82 65 2.47
Including 345 350 105.18 106.71 1.52 5 3.37
Including 360 370 109.76 112.80 3.05 10 4.34
Including 380 385 115.85 117.38 1.52 5 3.89
425 470 129.57 143.29 13.72 45 3.27
Including 430 440 131.10 134.15 3.05 10 4.00
Including 450 470 137.20 143.29 6.10 20 3.87
480 485 146.34 147.87 1.52 5 1.87
500 535 152.44 163.11 10.67 35 2.48
Including 500 510 152.44 155.49 3.05 10 3.32
540 555 164.63 169.21 4.57 15 1.20
AP11-81 160 165 48.78 50.30 1.52 5 1.33
180 190 54.88 57.93 3.05 10 1.52
195 230 59.45 70.12 10.67 35 2.75
Including 200 205 60.98 62.50 1.52 5 6.39
235 275 71.65 83.84 12.20 40 1.69
Including 250 255 76.22 77.74 1.52 5 3.01
280 330 85.37 100.61 15.24 50 3.54
Including 285 295 86.89 89.94 3.05 10 5.29
Including 300 315 91.46 96.04 4.57 15 5.05
340 370 103.66 112.80 9.15 30 3.02
Including 340 350 103.66 106.71 3.05 10 4.18
Including 355 360 108.23 109.76 1.52 5 4.16
375 380 114.33 115.85 1.52 5 1.70
385 390 117.38 118.90 1.52 5 0.91
415 435 126.52 132.62 6.10 20 1.56
AP11-84 260 305 79.27 92.99 13.72 45 2.54
Including 280 290 85.37 88.41 3.05 10 5.15
315 330 96.04 100.61 4.57 15 3.53
Including 320 330 97.56 100.61 3.05 10 4.01
335 355 102.13 108.23 6.10 20 2.57
375 400 114.33 121.95 7.62 25 2.09
Including 380 385 115.85 117.38 1.52 5 3.47
450 460 137.24 140.24 3.05 10 1.75
465 475 141.77 144.82 3.05 10 1.09
Assays were performed by ALS Chemex in Sparks, Nev. Further results will be reported as they are received.
The current National Instrument 43-101-compliant resource estimate of the Artillery Peak manganese deposit includes an indicated resource of about 92.8 million tonnes grading 3.27 per cent Mn (6.7 billion pounds or 3.04 million tonnes of contained Mn) and an inferred resource of about 107.2 million tonnes grading 3.76 per cent Mn (8.9 billion pounds or 4.04 million tonnes of contained Mn).
The company is capable of producing electrolytic manganese metal (EMM) on the cathode or electrolytic manganese dioxide (EMD) on the anode. Currently the company is investigating the production of EMD to make the lithiated manganese dioxide (LMD) for the battery industries.
About manganese
China controls electrolytic manganese production (EMM) supplying and producing 98.44 per cent of the world's needs (production of three billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 30 billion pounds per year, fourth largest traded metal).
Manganese is the most critical metal at risk to supply and restriction in the United States as there is no U.S. production. EMM's greatest uses are the upgrading of specialty steel (47 per cent) and the manufacture of aluminum alloys (32 per cent) and electronics (14 per cent).
China has a 20-per-cent export duty on EMM, and the U.S. has a 14-per-cent import duty (U.S. price $1.81 per pound); the current world price for electrolytic manganese metal is about $1.52 per pound. Manganese resources are declining in China especially carbonate ores for production of EMM, forcing Chinese companies to seek production offshore.
The overall manganese market grew at 8 per cent per year to 30 billion pounds up to 2008. EMM market grew at 26 per cent per year from 2003 to 2008 to 2.6 billion pounds per year.
We seek Safe Harbor.
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