Metal Energy Acquires 49% of the Manibridge Project

Metal Energy Acquires 49% of the Manibridge Project

Metal Energy Corp. ("the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce the acquisition of 49% interest in the Manibridge project (" Manibridge " or the " Project ") effective March 22, 2022 . The Company has also elected to continue exploration to earn up to 70% interest in Manibridge. These transactions are a part of Metal Energy's option agreement to earn up to 100% of Manibridge.

"This is a monumental step forward for Metal Energy as we advance the Manibridge project.  We firmly believe Manibridge has the potential to contribute to the evolving global electrification transition, particularly in the electric vehicle and renewable energy markets.  Manibridge was a past-producer of high-grade, high-tenor sulphide nickel and the historic operators left a lot of high-grade nickel in the rocks.  Our current and planned 10,000 metre summer drill program are designed to help us understand the geological controls of nickel mineralization in order to advance the Project towards a mineral resource estimate," said James Sykes , CEO of Metal Energy.

CanAlaska are the operators of the on-going diamond drilling program within the shadow of the past-producing Manibridge mine which produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.  The drill program is planned for 3,000 metres with 9 drill holes within a kilometre strike of the Manibridge mine (see Metal Energy news release dated March 7, 2022 ).

The Company has issued a total of 1,198,630 Common Shares to the optionor of the Project, CanAlaska Uranium Ltd. (" CanAlaska "), at a price of $0.146 per Common Share (20 day VWAP) and has also granted a 1% NSR royalty on two claims and a 2% NSR royalty on all other claims.‎  The Common Shares issued have a four-month resale restriction.

About the Manibridge Project

Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of Wabowden , with significant infrastructure and capacity supporting previous exploration programs, including year-round highway access via Highway.

About Metal Energy Corp.

Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada , respectively. Both projects are subject to earn-in agreements where the Company can acquire 100% exploration rights to approximately 16,200 hectares.

Reader Advisory

Certain information set forth in this news release contains forward-looking statements or information (" forward-looking ‎statements "), including details about the business of the Company. By their nature, forward-looking statements are subject to numerous risks ‎and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, ‎industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from ‎other industry participants, stock market volatility. Although the ‎Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have ‎been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and ‎assumptions are based upon currently available information. Such statements are subject to known and unknown risks, ‎uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially ‎from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue ‎reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. ‎Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in our public disclosure ‎documents available at www.sedar.com including the Filing Statement dated November 15, 2021 . Furthermore, the forward-looking statements contained in this document are made as of ‎the date of this document and, except as required by applicable law, the Company does not undertake any obligation to publicly ‎update or to revise any of the included forward-looking statements, whether as a result of new information, future events or ‎otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.‎

Neither the TSX Venture Exchange Inc. 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.

SOURCE Metal Energy

Cision View original content: https://www.newswire.ca/en/releases/archive/March2022/29/c3749.html

News Provided by Canada Newswire via QuoteMedia

MERG:CA
The Conversation (0)
Metal Energy and Mistango River Announce Exploration Option Agreement and Call Option Agreement regarding the Manibridge Project

Metal Energy and Mistango River Announce Exploration Option Agreement and Call Option Agreement regarding the Manibridge Project

Metal Energy Corp. (TSXV: MERG) (the " Company " or " Metal Energy ") and Mistango River Resources Inc. (CSE:MIS) (" Mistango ") are pleased to jointly announce that they have entered into an option agreement (the " Option Agreement ") and a call option agreement (the " Call Option Agreement "), each dated October 28, 2022 . Each such agreement pertains to a 15% interest ‎(except the NSR as defined below)‎ (the " Interest ") in Metal Energy's Manibridge project (the " Project "), consisting of 19 mineral claims encompassing approximately 4,368 hectares, located in the province of Manitoba approximately 20 kilometers southwest of Wabowden, Manitoba .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Metal Energy Acquires 70% of the Manibridge Project, Gives Notice of Intent to Achieve 100% Ownership

Metal Energy Acquires 70% of the Manibridge Project, Gives Notice of Intent to Achieve 100% Ownership

Metal Energy Corp. ("the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce the acquisition of 70% interest in the Manibridge project (" Manibridge " or the " Project ") effective August 16, 2022 . Metal Energy also announces it has elected to continue exploration to earn up to 100% interest in Manibridge and expects to complete this milestone in the near term.

"We were enthused about the recent results of Manibridge's Phase 1 drill program of intersecting wide high-grade nickel interceptions in every hole. These intersections and the visuals from Phase 2's drill core continue to affirm our belief that Manibridge has excellent redevelopment potential. We are very pleased to not only complete this milestone but do so well in advance of the original option agreement time frames," said James Sykes , CEO of Metal Energy.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Metal Energy Assays Confirm High-Grade Nickel in All Drill Holes From Phase One Drill Program

Metal Energy Assays Confirm High-Grade Nickel in All Drill Holes From Phase One Drill Program

Highlights Include:
  • 0.92% Ni eq. over 32.95 m starting at 150.45 m including 1.24% Ni eq. over 11.45 m at 169.1 m in drill hole MNB004
  • 0.81% Ni eq. over 13.5 m starting at 337.5 m in drill hole MNB003
  • 1.13% Ni eq. over 9.0 m starting at 700.0 m including 1.62% Ni eq. over 5.0 m at 701.0 m in drill hole MNB006
  • Two drill holes intersected thick composite mineralization over 100 and 80 metres in length with 40% and 55% of those intervals being mineralized, respectively

 Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce assay results ( Table 1 ) from the Phase One drill program (the " Program ") completed in March and April on the high-grade nickel and copper-cobalt Manibridge project (the " Project " or " Manibridge ") in the Thompson Nickel Belt, Manitoba.  The Program successfully intersected high-grade nickel-sulphide mineralization over a one kilometre strike length within the shadow of the past-producing Manibridge mine that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.

"The results from the Program are very encouraging and better than expected. They've answered many of our preliminary questions on Manbridge's Phase 1.  These six holes have;

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Metal Energy Being Showcased at ORE DAY: Today 9 am ET

Metal Energy Being Showcased at ORE DAY: Today 9 am ET

Metal Energy Corp. (" Metal Energy " or the " Company ") (TSXV: MERG) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com

Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Metal Energy Starts 10,000 Metre Drill Program on its Manibridge High-Grade Nickel Project

Metal Energy Starts 10,000 Metre Drill Program on its Manibridge High-Grade Nickel Project

Metal Energy Corp. (the " Company " or " Metal Energy ") (TSXV: MERG) is pleased to announce its started its Phase 2 10,000 metre drill program (the " Program ") on the high-grade nickel and copper Manibridge project (the " Project " or " Manibridge ") in the Thompson Nickel Belt, Manitoba . Drilling will focus within the shadow of the past-producing mine that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.

"We're very excited to start this large drill program on Manibridge. There's a lot of underexplored potential within the shadow of the old mine workings and we intend to prove up the nickel and copper endowment. Our Phase 1 drill program within the same target area had a 100% drill hole intersection success, indicating that our model is accurate and hinting that a lot of nickel-copper sulphide mineralization remains to be discovered along this trend. Our current drill program will include a series of drill fans along twelve 50 metre-spaced drill setups. We believe this drill density will provide sufficient detail to accurately characterize the geology of the mineral system. We recently received permit approvals for up to 100,000 metres of diamond drilling on the Project; this is Phase 2 of a 2-year plan. We're committed to advancing Manibridge efficiently and effectively. There's potential for bulk tonnage mineralization within 300 metres of surface and we intend to start defining it with this drill program," said James Sykes , CEO of Metal Energy.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Blackstone Minerals

Accelerated Non-Renounceable Entitlement Offer Results

Blackstone Minerals Limited (ASX: BSX) (“Blackstone” or the “Company”) advises that the Company has completed its Accelerated Non-Renounceable Entitlement Offer as per the terms of the Prospectus dated 4 November 2024 (“Entitlement Offer”). As announced on 6 November 2024, the institutional component of the Entitlement Offer was completed raising approximately $550k from Nanjia Capital Limited and its controlled entities.

Keep reading...Show less
FPX Nickel (TSXV:FPX)

FPX Nickel


Keep reading...Show less
Nickel bars.

Nickel Price Update: Q3 2024 in Review

Nickel saw solid price momentum in the first half of the year, benefiting from investor sentiment and speculation across commodity markets that saw surge in prices for both precious and base metals.

However, price highs were short-lived as nickel supply and demand fundamentals provided pressures that saw steep declines.

Among the influences has been a supply of laterite nickel flooding the market out of Indonesia, which is a contributing factor to mine curtailments in New Caledonia, Australia, and Europe. Meanwhile, high demand for battery production in China has yet to reach levels to make up for the oversupply in the market.

Keep reading...Show less
Blackstone Minerals

Blackstone Completes Institutional Component of Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it has completed the institutional component (“Institutional Entitlement Offer” or “Institutional Offer”) of its partially underwritten accelerated non-renounceable pro rata entitlement offer as announced on 4 November 2024 (“Entitlement Offer” or “Offer”).

Keep reading...Show less
Blackstone Minerals

Launch of $4M Accelerated Partially Underwritten Entitlement Offer

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to announce that it is undertaking a partially underwritten accelerated non-renounceable pro rata entitlement offer of new fully paid ordinary shares in the Company (“Shares”) on the basis of one (1) new Share (“New Shares”) for every four (4) existing Shares held, to raise up to approximately A$4 million (before costs) (“Entitlement Offer” or “Offer”).

Keep reading...Show less

Latest Press Releases

Related News

×