Mr. Larry Reaugh reports
AMERICAN MANGANESE INC. OPTIONS HAZELTON ROCHER DEBOULE HIGH GRADE COPPER/GOLD/COBALT PROPERTY TO AUSTRALIAN COBALT EXPLORER
American Manganese Inc. has entered into an option agreement with Liaz Pty. Ltd. (which has since been acquired by Longford Resources Ltd. (LRL)) whereby Liaz may earn a 60-per-cent interest in American Manganese's Rocher Deboule high-grade copper-gold-cobalt property. Consideration for the option consists of $10,000 cash; an additional payment of $5,000 or 50,000 shares of Liaz/LRL; exploration expenditures of $2-million over four years; and $10,000 cash plus $5,000 cash or 50,000 shares of Liaz/LRL each year until the 60-per-cent interest has been fully earned by Liaz.
The Rocher Deboule property is part of the Hazelton project, which includes three historic mines:
Victoria mine -- where ore grades averaged 123.4 grams per tonne gold and 2.8 per cent cobalt;
- Rocher Deboule mine -- where ore grades averaged 5.9 per cent copper and 2.9 g/t gold;
- Highland Boy mine -- where ore grades averaged 7.0 per cent copper and 1.8 g/t gold.
The project was last mined in 1952 and has had very limited exploration since. There is considerable potential to delineate an additional high-grade cobalt-copper-gold mineralization with modern exploration techniques.
About American Manganese Inc.
American Manganese is a diversified specialty and critical metal company focused on capitalizing on its patented intellectual property through low-cost production or recovery of electrolytic manganese products throughout the world and recycling of spent electric vehicle lithium-ion rechargeable batteries.
Interest in the company's patented process has adjusted the focus of American Manganese toward the examination of applying its patented technology for other purposes and materials. American Manganese aims to capitalize on its patented technology and proprietary know-how to become and industry leader in the recycling of spent electric vehicle lithium-ion batteries having cathode chemistries such as: lithium-cobalt, lithium-cobalt-nickel-manganese and lithium-manganese.
We seek Safe Harbor.
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