Nevada Silver Corporation (TSX-V:NSC) gave an update on the Emily manganese project in Minnesota after identifying several high-grade drill intersections on the property.
Highlights from recent drilling include nearly 9 metres at 34.58% manganese, and 1.07 metres at 50.1% manganese.
Nevada Silver is aiming to position Emily as one of North America’s leading manganese projects for the technology and energy markets.
READ: Nevada Silver unveils new drill results indicating wide intersections of mineralization at its Corcoran silver-gold project
Nevada Silver’s 100%-owned subsidiary North State Manganese Inc (North Star) is currently exploring the project.
The company noted that there are currently no producing mines in the US or Canada, even though manganese is considered a strategic metal in both countries.
"We believe the high-purity manganese market will be driven by the demand for these specialized products over the next decade," Nevada Silver’s CEO Gary Lewis said in a statement.
"This is line with the North Star's aspiration to capture significant value of the supply chain for high-purity manganese products, from raw material extraction and product upgrading, through chemical processing and high-purity manganese sales in the North American marketplace."
Emily boasts a resource of 5.69 million tons at an average grade of 19.2% manganese and 23.02% iron in the higher-confidence indicated category, with another 778,000 tons at 22.48% manganese and 22.15% iron in the inferred category.
North Star said it is assessing options to commercialize Emily, such as potential joint venture arrangements or spinning-out North Star into a standalone listed entity.
The firm told shareholders it will provide a further update early in the new year.
Nevada Silver’s flagship asset is the Corcoran silver-gold project in Nevada.
Contact Angela at angela@proactiveinvestors.com
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