Manganese X Energy Corp. (TSXV:MN) (the “Company“) has received from Kingston Process Metallurgy (“KPM“) the results of the concept study and final recommendations. The Company retained KPM with the mandate to conduct an electrolytic manganese dioxide (EMD) concept study. The Company is currently reviewing the results of the concept study and investigating all the metallurgical evaluations and technical processing options to enhance and maximize the value added product potential of our manganese ore property located in Houlton, Woodstock, New Brunswick, Canada.
Martin Kepman, CEO of the Company commented that “we are encouraged by the results which now give us a detailed roadmap to create Canada’s first high grade manganese product which could potentially supply the North American and worldwide lithium ion battery industries. Last year Electric Vehicles sales grew by about 60 percent worldwide. That is similar to the annual growth rate that Tesla forecasts for sales through 2020. Solar panels are following a similar curve at around 50 percent growth each year. Modern, efficient batteries are the needed link to make renewable energy available to non-emitting electric vehicles.”
“Our strategic location is only 10 kms from the US border (Maine) and on major shipping lanes across the Atlantic Ocean and up the Great lakes. We also have access to major rail lanes, making us an obvious potential supplier to the lithium ion battery market” stated CEO Martin Kepman.
The Company will immediately commence implementing KPM’s first recommendation of performing laboratory scale leaching tests to determine the manganese recovery and sulphuric acid consumption as these are key process design and operating cost drivers. A number of well-known industrial laboratories with prior experience in manganese hydrometallurgy have been contacted and proposals are being assessed.
We are continuing our discussions with the National Research Council of Canada towards testing our manganese product chemistry for commercial acceptability. If successful, this would significantly advance the Company to be accredited for sales to potential battery suppliers in North America.
We are continuing our due diligence of our potential acquisition of an additional manganese property.
Manganese X Energy’s mission is to acquire and advance high potential manganese prospects with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries as well as the steel industry. In addition, our company is striving to achieve new environmentally friendly methodologies, producing manganese at a lower competitive cost.
For more information, visit the website at www.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Interim CEO and Director
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This news release contains “forward-looking information” including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.