Manganese X Energy Corp has posted a NI 43-101 Technical Report on SEDAR for its Battery Hill Manganese Project and has also provided an update on the Mineral Resource Estimate (MRE).
On August 20, Mercator Geological Services Limited posted a complete MRE for the Battery Hill Manganese project on www.sedar.com. The detailed, 133-page Technical Report summarizes all exploration work on the property including historical and recent diamond drilling by Manganese X.
The overview also makes recommendations for further exploration and development work on the project.
READ: Manganese X says graphite-focused spin-out has been conditionally approved to list on TSXV
The battery metals company retained Mercator to document the resource in accordance with the CIM Definition Standards for Mineral Resources and Reserves and National Instrument 43-101.
The Battery Hill Project is home to Mineral Claim 5816, which consists of 55 mineral claim units (1,228 hectares) located near Woodstock, New Brunswick, and Mineral Claim 5745, consisting of 8 mineral claim units (179 hectares) located 10 km to the southwest.
According to the MRE the Battery Hill project consists of 34.86 million tonnes of Measured and Indicated mineral resources grading 6.42% manganese, plus an additional 25.91 million tonnes of Inferred mineral resources grading 6.66% manganese utilizing a 2.5% manganese 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% manganese and 10.61 million tonnes of Inferred mineral resources grading 9.05% manganese utilizing a cut-off grade of 7% manganese,” the company said.
"The completion of the Technical Report and Mineral Resource Estimate for our Battery Hill property confirming a significant Mineral Resource is a major step in the development of this deposit and is highly supportive of our confidence in this project," Perry Mackinnon VP of Exploration said in a statement.
“The MRE will serve well as a key component of our Preliminary Economic Assessment, and we look forward to the completion of that next important step."
In the report, Mercator recommends preparation of a Pre-Feasibility Study for the Battery Hill project upon receipt of a positive economic evaluation from the Preliminary Economic Assessment currently in progress.
The PEA will evaluate the economic and commercial viability of the project to produce premium ultrahigh-purity battery-grade manganese products for the burgeoning North American electric vehicle and energy storage sectors.
Manganese X plans to maximize project economics by optimizing production schedules and starter pit outlines towards higher grade material.
"We are all extremely encouraged by this important step towards our Battery Hill Project becoming a unique North American supplier to these vital industries," said Martin Kepman, CEO of Manganese X.
Contact the writer at georgia@proactiveinvestors.com
Follow her on Twitter @MissInformd