23:46:45 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
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Manganese X Energy Corp
Symbol MN
Shares Issued 126,707,907
Close 2023-06-05 C$ 0.165
Market Cap C$ 20,906,805
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Manganese X completes drill program at Battery Hill

2023-06-06 01:39 ET - News Release

Mr. Martin Kepman reports

MANGANESE X PROGRESSES BATTERY HILL TO PRE-FEASIBILITY STAGE WITH SUCCESSFUL DRILL PROGRAM AND ENVIRONMENTAL STUDIES COMMENCEMENT

Manganese X Energy Corp. has made significant advancements at its 100-per-cent-owned Battery Hill manganese deposit, marking a crucial step toward the prefeasibility stage. The completion of the company's prefeasibility diamond drilling program, focused on expanding measured and indicated resources, has yielded exceptional results. Furthermore, the company has initiated environment studies in collaboration with WSP E&I Canada Ltd., further reinforcing the commitment to responsible mining practices.

Key highlights from the final 26 holes of the 36-hole program, conducted at the Moody Hill and Sharpe Farm sectors of the Battery Hill deposit, are truly impressive. Notably, Manganese X has expanded the overall mineralization with the discovery of two new zones, Sharpe Farm west peripheral and Moody Hill northwest, west of the main deposits.

Key highlights (see full assay results in the attached table):

  • 29.1 metres (m) of 14.4 per cent manganese oxide (MnO) starting at 90.5 m in SF23-73;
  • 80.3 m of 11.5 per cent MnO, including 32.2 m of 16.9 per cent MnO starting at 7.8 metres in SF23-76;
  • 60.6 metres of 11.0 per cent MnO starting at 29.4 m, including 47.5 m of 20.4 per cent MnO in SF23-80;
  • 73.6 metres of 10.7 per cent MnO starting at 67.5 m, including 29.1 m of 13.8 per cent MnO in SF23-90;
  • 45.9 m of 12.9 per cent MnO starting at 33.1 m and 31.1 m of 11 per cent MnO starting at 104.3 m in SF23-91;
  • 44.2 m of 11.1 per cent MnO starting at 23.8 m in SF23-92.

Chief executive officer Martin Kepman commented: "The remarkable continuity observed within the manganese horizons during the 36-hole infilling drill program at Battery Hill is truly exciting. We eagerly await the updated mineral resource estimate, which, combined with our ongoing environmental and geotechnical studies, are pivotal milestones in our preparation for the upcoming prefeasibility study and environmental impact assessment. We extend our sincere appreciation to the private landowners for their support and engagement throughout the drilling program and the environmental activities. As we progress with this green energy project, we remain committed to fostering continuous communication and collaboration with the local communities and first nations."

Manganese X steadfastly pursues its mission to become the first publicly traded mining company in Canada and the United States to commercialize high-purity electric-vehicle-compliant manganese, revolutionizing the mining industry with sustainable practices and innovation.

Work programs in collaboration with WSP also include archeology, air quality, geotechnical studies concerning water flow, geochemistry and rock mechanics. These studies will support the planned New Brunswick environmental impact assessment (EIA) and the prefeasibility study for the project.

Most of the targets are near vertical, and all but one hole was drilled at 45 degrees. True widths are estimated to range from 65 to 80 per cent of core length.

Standard protocols and industry standard practices were employed in logging and sampling the core. Quality assurance/quality control practices included insertion of certified standards, blanks and duplicates, each consisting of 5 per cent of the total samples. Check assays of 5 per cent of the samples are being sent to a second laboratory. Samples averaged two metres in width. All initial half-core samples were taken by company personnel to the Actlabs prep lab in Fredericton, N.B., where they were prepped and the pulps forwarded to Actlabs in Ancaster, Ont., where XRF-fusion whole rock analysis (Code 4C) was performed. Actlabs is an accredited analysis laboratory.

This news release has been reviewed and approved by Perry MacKinnon, PGeo, vice-president of exploration of Manganese X, a qualified person under National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

About Manganese X Energy Corp.

Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and the United States to commercialize electric-vehicle-compliant high-purity manganese, potentially supplying the North American supply chain. The company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost.

Subsidiary Disruptive Battery Corp.'s mission is to develop an HVAC (heating, ventilation and air conditioning) air purification delivery system for cleaner and healthier air, aiming to mitigate COVID-19 and other contaminants on surfaces and in the air.

We seek Safe Harbor.

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