Manganese X Energy Corp.(TSXV:MN) (the “Company“) is pleased to announce the commissioning of a mineral resource estimate and technical report in accordance with National Instrument 43-101(NI 43-101) on its Battery Hillmanganese property located in Carleton County, 5 km NW of Woodstock, New Brunswick.The resource estimate and NI 43-101 report will be prepared by Mercator Geological Services Limited (Mercator) of Dartmouth Nova Scotia a geological firm with broad experience in NI-43-101 Technical Reporting and resource estimation. Manganese X has retained Mercator to carry out an independent technical study of Battery Hill in particular to examine Manganese’s confirmation drilling programs consisting of 25 holes totaling 5188 meters prior to preparing the mineral resource estimate. The Company has determined that the Battery Hill manganese technical project will consist of the following two main phases:
Phase 1 Preliminary deposit modelling, consisting of the completion of preliminary solid modelling and grade/tonnage block model estimates. The primary objective of this phase is to establish the magnitude of potential resources and implement, if necessary, additional recommendations in preparation for an estimate and associated technical report in accordance with NI 43-101. The Company intends to progress to Phase 2 after Mercator has completed Phase and provided associated comments and recommendations.
Phase II Completion of a NI 43-101 mineral resource estimate based on the results of Phase 1 and the completion of data validation and verification, QAQC review, a site visit, and an accompanying Technical Report. “Engaging Mercator Geological represents another important step in the development of our Battery Hill manganese project,” said Martin Kepman Chief Executive Officer “We have been working to expedite the development of this project and are excited to have a strong independent firm complete a National Instrument 43-101 Technical Report and resource estimate.”
About Mercator Geological Services Limited
Mercator is a Canadian geological consultancy firm offering a full range of professional services to clients for both domestic and international projects. Our team of professional geologists has extensive experience with strengths in mineral deposit modeling, resource estimation and technical reporting, mineral exploration and project management.
Qualified Persons and QA/QC
Roger Dahn, B.Sc., P.Geo (New Brunswick), Manganese X Energy’s Vice President of Exploration, is designated as the Qualified Person in compliance with National Instrument 43-101 with respect to this release and has reviewed the contents for accuracy.
About Manganese X Energy
Manganese X Energy’s mission is to acquire and advance high potential manganese prospects located in North America 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 methodologies emanating with environmentally friendly green/zero emissions processes and 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
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.