Significant Manganese Assays Follow 2023 Drilling Campaign

ChemX Materials Ltd (ASX: CMX) (ChemX or Company), an Australian-based high purity critical materials business, is pleased to announce the first stage assay result from the 2023 Jamieson Tank Manganese drilling campaign on the Eyre Peninsula in South Australia.

• 39 of 94 drill hole results received on Jamieson Tank drill campaign of 6,164 metres completed
  
• Significant manganese intercepts near surface
• Downhole geophysics completed
• Maiden Mineral Resource estimate planned by June 2023
• Company is continuing with its strategy of High Purity Manganese product destined for the global battery market.

Figure 1: RC drill rig on location at Jamieson Tank in South Australia

The Manganese grades achieved including 6m (thickness) at 18.5%Mn from 9m are highly encouraging based on previous metallurgical testwork (ASX 11 May 2022) which indicated the ore is highly amenable to upgrade via beneficiation and conversion to a High Purity Manganese, battery grade product.

In early 2023, ChemX undertook a manganese exploration programme of 94 reverse circulation percussion (RCP) drill holes for a total of 6,164 metres. The programme infilled the drill spacing over the northern most 2km strike of Jamieson Tank for the purpose of estimating a Mineral Resource. Downhole geophysics was employed to derive in-situ density and support the Mineral Resource estimation and complement the geological interpretation of the Jamieson Tank manganese deposit.

The initial assay results reveal significant manganese intercepts near surface and are displayed in table A, with full drill hole assays displayed in Appendix 3.

Table A: Significant Intercepts

The significant intercepts (averaged from 1m samples) have been reported from raw assays of a minimum of 10% Mn and 3m thickness. The significant intercepts are from a total of 2304 sample assays returned from 94 drill holes. Assays from the remaining 55 drill holes are pending.

The initial drilling results build on previous exploration success from the 2022 exploration campaign as the Company moves forward with its High Purity Manganese development strategy.

CEO Mark Tory commented: “ChemX is excited with the first results from the recently completed drilling campaign. The results which will go towards the maiden Resource Estimation, which will be used to support the potential to achieve a beneficiation plant feed of manganese, ultimately destined for the global battery grade manganese market. Noting the shallow depths for much of the mineralised intercepts gives confidence to swift accessibility on potential future mining endeavours. Further assay results from the exploration campaign are pending and will be released to the market progressively.”

In addition to Jamieson Tank Manganese deposit, ChemX has identified further Manganese prospects at Bunora West, Hodgins, Windyzell, Francis and Polinga (ASX 27 July 2022).

Click here for the full ASX Release

This article includes content from ChemX Materials, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.