Manganese X Energy Corp.: Corporate and Property Update
08.12.2016 | Marketwire
MONTREAL, December 08, 2016 - Manganese X Energy Corp. (the "Company") (TSX VENTURE: MN) is pleased to announce that it has recently completed gravity and magnetometer surveys focusing on three primary areas: Iron Ore Hill, Sharpe Farm and Moody Hill, near Woodstock, New Brunswick.Total tonnage projected by Sidwell for Moody Hill, Sharpe Farm and Iron Ore Hill, all located on our current claims, (see previous Press release dated 2016/11/30) was 43,000,000 tons (39,009,000 tonnes) with an average Mn content of 9%. Note: The above estimates are from Sidwell, 1957 using limited drilling and a widely spaced gravity survey. The Company has not done enough work to verify these resources, therefore the above reserves are historical in nature and the company, Manganese X Energy Corp., is not treating this historical estimate as a current mineral resources / reserves as defined under NI 43-101. Neither quality assurance (QA) nor quality control (QC) can be performed because the entire old drill core has been lost. Additional systematic surface drilling is required to verify the historical estimates and possibly upgrade part of the whole historical estimate into current resources. Systematic surface drilling is required to outline a NI 43-101 resource. For further information please refer to our NI 43-101 Technical Report on our website www.manganesexenergycorp.com or refer to our previous press release dated November 30, 2016.
After studying the results from both the gravity and magnetometer surveys, a diamond drill program totaling 16 holes for approximately 3600 meters, was commenced and is currently in progress to test the Iron Ore Hill, Moody Hill, Sharpe Farm occurrences. The drill program will be completed by year end and assay results are expected towards the end of January 2017.
The technical information contained in this news release has been reviewed and approved by Perry MacKinnon, P.Geo, who is a Qualified Person regarding Manganese X Energy's Houlton Woodstock manganese property located in Carleton County, New Brunswick.
Manganese X Energy would like to acknowledge the financial support provided by the Province of New Brunswick through the New Brunswick Junior Mining Assistance Program (NBJMAP).
Manganese X Energy's mission is to acquire and advance high potential mining prospects located in North America with the intent of supplying value added materials to the lithium ion battery and other alternative energy industries. For more information visit the website at ww.manganesexenergycorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Martin Kepman
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.
Contact
Manganese X Energy Corp.
Martin Kepman, Interim CEO and Director
martin@kepman.com
1-514-802-1814