Manganese X Energy Corp. Update with Technical Insights
MONTREAL, QC / ACCESSWIRE / March 2, 2017 / Manganese X Energy Corp. (TSX-V: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC PINK: SNCGF) (the "Company") is pleased to announce it has entered into its next phase consisting of an innovative metallurgical project funded by the Company's recent $1.45 million oversubscribed financing.
"This innovative metallurgical project is developing a process in order to produce a manganese concentrate to be utilized for production of Electrolytic Manganese Dioxide which is also known as EMD. EMD is a high value manganese product which is utilized within various applications especially for lithium ion battery cathode material for electric vehicles. Manganese is the critical link in the lithium ion storage chain" stated Martin Kepman, CEO and Director of Manganese X Energy. "The reason we refer to it as innovative is that the Company is focused on producing a cost effective, environmentally friendly concentrate for the lithium ion battery market which is currently in high demand within the North American."
In order to expedite our metallurgical project, Manganese X Energy has recently sent two batches of core samples from our Iron Ore Hill zone to SGS. This renowned Lakefield Ontario based laboratory has begun QemScan testing which is an acronym for "Quantitative Evaluation of Minerals by Scanning Electron Microscopy". SGS will also undertake chemical analysis of the samples; this will enable the Company to measure in microns the various percentages of other minerals present on its property. We anticipate from SGS the QemScan test results within the next two weeks. With the commencement of QuemScan testing, Manganese X Energy's metallurgical team will begin to assess the viability of integrating and upgrading specific processes such as floatation, gravity, magnetic and electrostatic separations, as well as, ore sorting techniques to produce high grade manganese concentrate while separating other minerals efficiently. In addition, Manganese X Energy will be sending additional core samples from our Sharpe Farm and Moody Hill areas of our Houlton Woodstock Property in order to determine which mineralized zone of our three mineral bodies will be the most efficient and viable to process.
In conjunction with the ongoing advancement of our QemScan and chemical analysis, the Company has requested proposals from several leading research firms to assist Manganese X Energy in investigating state of the art processes and technology procedures. The Company hopes to enhance and upgrade our manganese bearing mineral known as rhodochrosite into a viable concentrate for the North American EMD market. We anticipate receiving responses to our requests for proposals shortly. We will also contact various government agencies for financial assistance to augment our current program which includes a metallurgical concept study on Electrolytic Manganese Dioxide (EMD) metallurgy processes.
We have received from Kingston Process Metallurgy Inc. (KPM) an initial process and test work review, as well as the cost portions of the Concept Study. "With this additional information, it will open many testing options and opportunities. We will be innovative and take the work forward" stated by Dr. Luisa Moreno, director of the Company. The objective of the Kingston Process Metallurgy concept study is to investigate all options to maximize the added value potential of the Company's Houlton Woodstock manganese property located in Carleton County, New Brunswick, Canada.
Manganese X Energy Corp. will aggressively continue to explore the various opportunities leading to producing a manganese concentrate for the EMD North American market.
Granting of Options
The Company is pleased to announce that the Company has granted 500,000 incentive stock options to a consultant. The options are exercisable at $0.215 per option for a period of 1 year from the date of grant. The options are being issued under the terms of the Company's Stock Option Plans which were approved by shareholders at the Company's Annual General and Special Meeting on April 21, 2016. The Option Plan has been submitted, in the normal course to the TSX Venture Exchange for approval and no options can be exercised prior to the receipt of this approval
About Kingston Process Metallurgy Inc.
Kingston Process Metallurgy Inc. (KPM) was established in 2002 to provide process development and optimization, through contract research and development services to chemical, mining, and metallurgical industries. KPM's project portfolio is diverse but centers around integrating its experimental work with techno-economics to develop processes that are both financially and technically sound. Their team has the expertise, multidisciplinary skills, and fundamental knowledge to develop concepts and solve unique challenges.
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 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
Martin Kepman
Interim CEO and Director
martin@kepman.com
1-514-802-1814
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.
SOURCE: Manganese X Energy Corp.