Mr. Larry Reaugh reports
AMERICAN MANGANESE INC.: 11 MORE DRILL RESULTS FROM ARTILLERY PEAK MANGANESE PROJECT
American Manganese Inc. has received results for the following 11 drill holes from its 2011 Artillery Peak drilling program. The results for first 27 drill holes have been previously announced.
The company initiated this drilling program on April 20, 2011, and was completed on June 17, 2011. It was 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 be very pleased with the results of the first 37 holes. We are closing information gaps and increasing the amount of known mineralization on the patented claims along the northeast flank of Manganese Mesa. 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. As expected, the mineralized intersections continue to demonstrate the expected lateral continuity over good widths, augmented by local higher-grade intersections."
The significant mineralized intersections for the following 11 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)
AP11-76 315 320 96.04 97.56 1.52 5 1.14
325 330 99.09 100.61 1.52 5 0.98
335 395 102.13 120.43 18.29 60 1.89
Including 355 360 108.23 109.76 1.52 5 3.33
Including 375 380 114.33 115.85 1.52 5 3.30
420 465 128.05 141.77 13.72 45 3.47
Including 425 430 129.57 131.10 1.52 5 3.76
Including 435 460 132.62 140.24 7.62 25 4.18
470 475 143.29 144.82 1.52 5 1.35
480 505 146.34 153.96 7.62 25 2.18
Including 485 490 147.87 149.39 1.52 5 4.39
510 525 155.49 160.06 4.57 15 1.41
AP11-79 125 220 38.11 67.07 28.96 95 1.73
Including 140 145 42.68 44.21 1.52 5 3.35
225 265 68.60 80.79 12.20 40 2.77
Including 230 235 70.12 71.65 1.52 5 5.22
Including 245 250 74.70 76.22 1.52 5 5.38
275 320 83.84 97.56 13.72 45 3.51
Including 280 285 85.37 86.89 1.52 5 4.01
Including 290 305 88.41 92.99 4.57 15 5.92
330 335 100.61 102.13 1.52 5 1.21
355 360 108.23 109.76 1.52 5 1.04
390 395 118.90 120.43 1.52 5 1.27
AP11-83 115 135 35.06 41.16 6.10 20 2.04
Including 115 120 35.06 36.59 1.52 5 3.86
150 170 45.73 51.83 6.10 20 1.69
185 215 56.40 65.55 9.15 30 1.74
Including 195 200 59.45 60.98 1.52 5 3.14
230 275 70.12 83.84 13.72 45 3.19
Including 235 240 71.65 73.17 1.52 5 3.13
Including 250 270 76.22 82.32 6.10 20 4.37
280 285 85.37 86.89 1.52 5 2.57
290 315 88.41 96.04 7.62 25 2.53
Including 305 315 92.99 96.04 3.05 10 3.09
320 325 97.56 99.09 1.52 5 1.61
AP11-86 155 160 47.26 48.76 1.52 5 0.97
170 225 51.83 68.60 16.77 55 2.32
Including 175 180 53.35 54.88 1.52 5 3.79
Including 195 200 59.45 60.98 1.52 5 3.96
250 255 76.22 77.74 1.52 5 1.92
275 290 83.84 88.41 4.57 15 3.72
Including 275 285 83.84 86.89 3.05 10 4.81
310 330 94.51 100.61 6.10 20 3.80
Including 310 325 94.51 99.09 4.57 15 4.27
335 345 102.13 105.18 3.05 10 4.30
Including 335 340 102.13 103.66 1.52 5 7.43
405 415 123.48 126.52 3.05 10 1.41
420 425 128.05 129.57 1.52 5 1.12
AP11-88 40 45 12.20 13.72 1.52 5 1.30
55 110 16.77 33.54 16.77 55 1.92
Including 85 90 25.91 27.44 1.52 5 3.38
130 135 39.63 41.16 1.52 5 1.48
155 170 47.26 51.83 4.57 15 2.34
205 225 62.50 68.60 6.10 20 2.84
Including 205 215 62.50 65.55 3.05 10 4.34
240 250 73.17 76.22 3.05 10 2.93
Including 245 250 74.70 76.22 1.52 5 4.07
255 260 77.74 79.27 1.52 5 1.02
AP11-90 40 65 12.20 19.82 7.62 25 1.60
95 105 28.96 32.01 3.05 10 2.11
Including 95 100 28.96 30.49 1.52 5 3.01
130 135 39.63 41.16 1.52 5 2.13
140 150 42.68 45.73 3.05 10 3.44
Including 145 150 44.21 45.73 1.52 5 5.52
AP11-92 40 45 12.20 13.72 1.52 5 1.04
65 75 19.82 22.87 3.05 10 1.51
105 130 32.01 39.63 7.62 25 3.68
Including 115 120 35.06 36.59 1.52 5 5.02
Including 125 130 38.11 39.63 1.52 5 6.14
AP11-94 20 30 6.10 9.15 3.05 10 1.50
40 60 12.20 18.29 6.10 20 1.41
90 95 27.44 28.96 1.52 5 1.06
140 145 42.68 44.21 1.52 5 1.27
150 165 45.73 50.30 4.57 15 1.65
175 180 53.35 54.88 1.52 5 1.29
AP11-100 120 125 36.59 38.11 1.52 5 1.79
135 175 41.16 53.35 12.20 40 1.55
190 195 57.93 59.45 1.52 5 1.60
240 285 73.17 86.89 13.72 45 2.64
Including 245 250 74.70 76.22 1.52 5 3.41
Including 270 275 82.32 83.84 1.52 5 6.92
290 295 88.41 89.94 1.52 5 1.10
305 335 92.99 102.13 9.15 30 1.43
360 375 109.76 114.33 4.57 15 1.72
AP11-101 165 195 50.30 59.45 9.15 30 3.33
Including 170 185 51.83 56.40 4.57 15 4.63
200 210 60.98 64.02 3.05 10 2.14
Including 205 210 62.50 64.05 1.52 5 3.03
215 240 65.55 73.17 7.62 25 1.54
255 285 77.74 86.89 9.15 30 1.40
AP11-102 460 490 140.24 149.39 9.15 30 1.72
510 530 155.49 161.59 6.10 20 1.61
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 contained Mn), and an inferred resource of about 107.2 million tonnes grading 3.76 per cent Mn (8.9 billion pounds contained Mn).
About manganese
China controls electrolytic manganese production (EMM) supplying and producing 98.44 per cent of the world's needs (three billion pounds per year).
There is no substitute for manganese in steel (total manganese market greater than 31 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).
Electrolytic manganese dioxide (EMD) for the battery industry is expected to be the fastest growing segment of the manganese market.
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 $1.54 per pound. Manganese resources are declining in China especially carbonate ores for production of EMM, forcing Chinese companies to seek production offshore.
China is currently shutting down production of EMM in several provinces for environmental reasons.
China production of EMM is predicted to fall 500 to 700,000 tonnes out of 1.4 million tonnes in the next three to five years.
We seek Safe Harbor.
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