Metal Energy Corp has told investors it plans to commence the first drill program at its high-grade nickel Manibridge project within the next three to four weeks as it prepares to take advantage of rising demand for nickel from electric vehicle manufacturers.
Toronto-based Metal Energy noted that the project, located in Manitoba’s Thompson Nickel Belt, incorporates a past-producing mine that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper between 1971 and 1977.
It said the fully-permitted drill program is planned for 3,000 metres (m) with seven drill holes all within a kilometre (km) strike of the past-producing mine. A crew is scheduled to start field preparations early next week to clear the trails and pack snow for the proposed drill collar locations, the company added.
READ: Metal Energy starts drilling at its Strange nickel project in northwestern Ontario
"Drilling at Manibridge remains our top priority as our internal projections for the project suggest it has the potential to yield a bulk mineable resource,” Metal Energy CEO James Sykes said in a statement.
“Drill targets have been planned to assess historic high-grade nickel drill intercepts beneath the old mine workings and along strike of the past-producing mine, as well as targeting areas within the mine's shadow that remain untested,” he added.
Metal Energy said a heliborne mobile magnetotellurics (Mobile MT) geophysical survey is planned to cover the entire Manibridge project in May. Mobile MT is a cutting-edge technology that accurately identifies electromagnetic and magnetic signatures to depths exceeding 1 km from the surface.
The company said it plans to use the results from the Mobile MT survey to identify exploration targets for future drill programs proximal to the mine and on greenfields project holdings to the east and north.
“Nickel demand is forecast to grow by 2x to 4x within the next 10 to 20 years spurred on by the electrification revolution and battery storage systems to complement a global effort to replace fossil fuels with renewable energy sources," Sykes concluded.
CanAlaska Uranium Ltd (TSX-V:CVV) is the operator of the Manibridge project. Metal Energy reminded investors it is earning into the project and can become the operator after March's Phase 1 drill program.
Metal Energy is a well-funded nickel and battery metal exploration company with two projects, Manibridge and Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada, respectively. Both projects are subject to earn-in agreements where the company can acquire 100% exploration rights to approximately 16,200 hectares.
Contact the author at stephen.gunnion@proactiveinvestors.com