Metal Energy Corp. (TSX-V:MERG) has announced assay results from three drill holes on the same section of the Phase Two drill program on its high-grade nickel and copper-cobalt Manibridge project in Manitoba's Thompson nickel belt.
The company said the 10,000-metre drill program was completed in December 2022, with nine additional drill hole assay results still pending. The mineralized zone is up to 80 metres (m) thick, continuous for 180m down dip, and open in both dip directions, it added, noting broad nickel intersections including 85.3m of 0.67% nickel equivalent (NiEq).
"These are the best results we have drilled on Manibridge to date, with grade-thickness values (GT) consistent with what was mined at Manibridge,” Metal Energy CEO James Sykes said in a statement. “These three drill holes, 250m away from the old mine workings, were drilled on the same section and down dip of MNB004, which returned 0.90% NiEq over 51.0 composite metres (45.9 GT).
“Mineralization appears to be more concentrated and thicker as we get closer to the old mine workings. We are awaiting the results from the remaining nine drill holes which are from the next 3 sections,” he added.
Highlights include:
- 85.3 composite metres of 0.67% NiEq - 57.3 GT - starting at 156m vertical depth;
- 79.5 composite metres of 0.65% NiEq (51.5 GT) starting at 215m vertical depth; and
- 48.5 composite metres of 0.83% NiEq (40.4 GT) starting at 273m vertical depth.
Metal Energy said a total of 10,091m were completed over 36 diamond drill holes, including six 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.
Assay results for drill holes MNB032 to MNB040A are still pending and will be reported after the data has been received, reviewed, and approved, the company said.
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 Manibridge project is 85% owned by Metal Energy and 15% owned by Mistango River Resources Inc. 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 stephen.gunnion@proactiveinvestors.com