Manganese X Energy Advances Preliminary Economic Assessment of Battery Hill Manganese Project
With Improved Flowsheet Optimisation Demonstrating Significant Cost Savings in the Production of High Grade Battery Material for the EV and Stored Energy SpaceMontréal, August 3, 2021 - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTCQB: MNXXF) ("Manganese X", "MN" or the "Company") is pleased to announce an update and results from its ongoing processing and metallurgical studies. Manganese X, together with Kemetco Research Inc. ("Kemetco") are completing the test work as part of the Preliminary Economic Assessment ("PEA") which will characterize and assess the economic and commercial viability of producing high purity, battery grade manganese products from the Battery Hill project located near Woodstock, New Brunswick, Canada.
Highlights:
News Release dated July 7, 2021
- Battery Hill project mineral resource estimate consists of 34.86 million tonnes of Measured and Indicated mineral resources grading 6.42% Mn, plus an additional 25.91 million tonnes of Inferred mineral resources grading 6.66% Mn utilizing a 2.5% Mn cut-off grade that reflects total operating costs having "reasonable prospects for economic extraction".
- Sensitivity analysis of the Battery Hill deposit to cut-off grade indicates 12.25 million tonnes of Measured and Indicated mineral resources at 8.77% Mn and 10.61 million tonnes of Inferred mineral resources grading 9.05% Mn utilizing a cut-off grade of 7% Mn.
- As part of the ongoing PEA, project economics will be maximized by optimizing production schedules and starter pit outlines towards higher grade material such as above.
- The large mineral resource base underlines the project's potential to sustain long term production.
Processing & Metallurgical
- Consistent overall extraction rates ranging between 80 and 90% being achieved.
- Significant reduction in reagent consumptions have been observed during the leach process, which will result in significant cost reductions as well as permitting and environmental benefits.
- Streamlining within the purification process to produce high purity manganese products will also significantly reduce overall processing operating costs.
- Purification results are improved with extremely low levels of base and alkali metal contaminants.
- The above positive results and improving efficiencies in the processing flowsheet clearly enhance the opportunity for commercialization.
- Patent applications are planned to protect the innovative processing flowsheet being developed on behalf of the Company by Kemetco. The process focuses on production of 99.95 % High-Purity Manganese Sulphate Monohydrate (HPMSM) for the electric vehicle (EV) and back up energy storage sectors.
Martin Kepman CEO comments, "We are entering an exciting phase in our corporate evolution. With the improving cost efficiencies in our MnSO4 processing coupled with our upcoming PEA, the company is advancing towards the goal of becoming a North American battery materials supplier to the North American EV industry. As we know, Tesla is moving to high-purity-manganese as a primary raw material for its batteries. We are fully focussed on taking advantage of this development, as well as other unfolding and expanding markets. Our team is also working relentlessly and will spare no efforts to achieve our goal to become the first manganese mining operation in Canada and the USA. We are working and continuing to work with Government agencies to achieve and accelerate our objectives."
The Company has received additional favourable Phase 3 metallurgical leach optimization and purification results, improving flowsheet optimization, which will lead to significant cost savings in producing high grade battery products for the EV and battery energy storage industries. The results confirmed that >85% manganese leach extraction rates can be achieved using a specific range in grind size. Leach optimization has been identified as a high priority for evaluating economic factors such as reagent consumptions and expected extraction rates. Kemetco continues to reduce steps in the processing flowsheet and has achieved further upgrades in both the leaching and purification processes. A very significant milestone was achieved by reducing the consumption of reagents that would result in major cost benefits.
Finalization of the Phase 3 processing studies is progressing well. This is the last stage of the ongoing test work to develop a commercially viable flow sheet to produce battery-grade manganese products using sustainable and ethically sourced North American mineralization at the Battery Hill property located near Woodstock, New Brunswick, Canada
This News Release has been reviewed and approved by Perry MacKinnon, P.Geo, Vice President of Exploration with Manganese X Energy and a "Qualified Person" as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project into production, with the intent of supplying value-added materials to the lithium-ion battery and other alternative energy industries. The Company is also striving to achieve new environment-friendly more efficient methodologies, while processing manganese at a lower competitive cost. The company is the only manganese company in Canada and the USA moving rapidly toward commercialization of a manganese deposit.
Subsidiary Disruptive Battery Corp.'s mission is to develop an HVAC (heating, ventilation and air conditioning) air purification delivery system for cleaner and healthier air, aiming to mitigate COVID-19 and other contaminants on surfaces and in the air. For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
Martin Kepman
CEO and Director
Email: martin@kepman.com
Tel: 1-514-802-1814
Cautionary Note Regarding Forward-Looking Statements:
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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. We seek safe harbor.