Metal Energy Corp. (TSX-V:MERG) has announced assay results from five drill holes of the Phase Two drill program on the high-grade nickel and copper-cobalt Manibridge project in the Thompson Nickel Belt, Manitoba, with 10,000 metres of drilling completed in December 2022.
In a statement, James Sykes, CEO of Metal Energy commented: "The individual results are encouraging, but the composite results, with up to 65% of the host rock being mineralized, demonstrate possible bulk tonnage potential at Manibridge that was never considered previously. These assay results demonstrate that high-grade nickel sulphide mineralization at Manibridge is continuous on strike and along dip, and that there are multiple wide zones of mineralization within the host rock."
"Four of the drill holes (MNB024 to MNB028A) were drilled on the same section as drill hole MNB003 ... for a total of approximately 170m of mineralization defined in the dip extent dimension and open at depth. Drill holes MNB028A and MNB026 are two of the top four reported drill holes we've completed at Manibridge during the drill program, highlighting that mineralization continues to increase as we continue drilling towards the old mine workings," he added.
READ: Metal Energy completes acquisition of 100% interest in the Manibridge project; completes second phase 10,000m drill program
Drilling highlights include:
- MNB028A: 0.77% nickel equivalent (Ni eq.) over 19.4 metres (m) at 192.1m depth (149.3m true vertical depth) and 0.70% Ni eq. over 23.0m at 218.0m depth (169.4m true vertical depth)
- MNB026: 0.68% Ni eq. over 22.0m at 243.5m depth (208.7m true vertical depth)
- Results demonstrate Manibridge hosts multiple stacked zones of well-mineralized nickel sulphide material with bulk tonnage potential
- Composite mineralization intersections of over 50m in MNB024, MNB026 and MNB028A
- Results from 12 drill holes closer to the old mine workings are still pending
Drill holes MNB026 and MNB028A intersected thick accumulations of composite mineralization defined over 85m and 120m drill hole lengths with 63% and 46% of those intervals being mineralized, respectively. The ultramafic/mafic host rocks are typically 50m to 150m thick with an average 30% of those intervals enriched with nickel sulphide mineralization.
The assay results released to date highlight that mineralization is continuous over 170m along strike and between 100m to 200m in the dip direction. Mineralization occurs as disseminations, net-textured, brecciated, remobilized in foliations and shears, and vein-hosted within the mafic to ultramafic host rocks.
Mineralization defined in the program is shallow with true vertical depth to mineralization ranging from 120m to 300m beneath the surface, average depth of 195m. These results demonstrate the shallow nature of potential near-surface development.
Assay results for drill holes MNB029 to MNB040A are still pending and will be reported after the data has been received, reviewed, and approved.
The company said it is preparing a detailed video to put the results received to date into context and what they mean with respect to global nickel deposits.
A total of 10,091.6m were completed over 36 diamond drill holes, including 6 abandoned drill holes, with all completed drill holes having intersected visible nickel sulphides. The drill hole collar locations were all within 150m to 600m of the old mine workings. The drill holes targeted the shallower parts of the Manibridge nickel sulphide system at depths between 100m and 400m from surface.
Manibridge encompasses 4,368 hectares within the world-class Thompson Nickel Belt. The project is 20 kilometers southwest of Wabowden, which has significant infrastructure and capacity that has supported previous exploration programs and mine development, including year-round highway access via Highway 6.
Metal Energy is the operator and owns 85% of the project with Mistango River Resources Inc, an Ore Group company, owning the remaining 15%.
Metal Energy is a nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada, respectively.
The Strange project is subject to earn-in agreements where the company can acquire 100% exploration rights to approximately 12,000 hectares.
Contact the author at jon.hopkins@proactiveinvestors.com