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Element 25’s Q2 Results Highlight Push to Production
Jul. 30, 2018 02:40PM PST
The report indicates the company is progressing towards high-grade production at the Butcherbird project in Western Australia.
Manganese exploration and development company Element 25 (ASX:E25), formerly Montezuma Mining, has released its second quarter results for the company’s flagship project Butcherbird.
The report indicates the company is progressing towards high-grade production at the Western Australia site.
In May, a scoping study was completed at Butcherbird, which returned robust results and further enforced the indicated and inferred resource estimate of 180 metric tonnes at 10.8 percent manganese. The study also encouraged the commencement of an ongoing pre-feasibility study.
“The results were encouraging and a clearer pathway to the projects development has been mapped out,” Justin Brown, Element 25’s executive director noted in the announcement. “We see great potential at the Butcherbird for increasing the resource and rapid mine development leading to the company becoming a manganese producer in the near-term.”
The Australian miner is so focused on becoming a manganese producer the company changed its name from Montezuma Mining to Element 25 in mid-May. The new name pays homage to manganese’s atomic number, 25.
The exploratory study at Butcherbird identified the site’s ability to produce a by-product that is increasingly in-demand, high-purity manganese including electrolytic manganese metal and manganese sulphate for lithium-ion batteries.
Element 25 has been in talks with lithium-ion battery manufacturers to discuss offtake deals once production is reached.
The potential to produce the valuable metal that is a critical component in high tech batteries, has prompted Element 25 to focus operational efforts on completing a pre-feasibility study on the development of the project.
“Drilling programmes for infill drilling of the resource to measured status as well as groundwater exploration work have been planned and POW’s are lodged and approved respectively,” notes the company press release.
Butcherbird is estimated to host Australia’s largest onshore manganese resource and deposit.
Element 25 shares remained flat on Monday (July 30), closing at AU$0.20.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
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