Metal Energy Corp. (TSX-V:MERG) announced that it has received a three-year work permit from the province of Manitoba, allowing for 100,000 metres (m) of diamond drilling on its Manibridge nickel and copper project in Manitoba’s Thompson Nickel Belt.
The resource project developer said it is now acting as operator of the project and anticipates mobilization of the drill program during the first days of June.
“The permit provides us the necessary approval to continue definition drilling of the Manibridge Mine target, expanding on the Manibridge North high-grade nickel deposit, and drill testing kilometres of prospective greenfield exploration targets over the next 3 years,” Metal Energy CEO James Sykes said in a statement.
READ: Metal Energy says all holes drilled at Manibridge have hit nickel sulphide mineralization in initial drill program
“We are optimistic that there are more high-grade nickel and copper greenfield discoveries to be made on the Project. Still, we are more confident that the historic Manibridge Mine target has significant growth opportunities for a viable nickel-copper resource,” Sykes added.
Metal Energy noted that it has about $5.5 million in cash and is fully funded to carry out the Phase Two drill program.
As well, the company reported that it has recently completed its Phase One drill campaign, which comprised six drill holes totaling more than 2,350m, with all drill holes successfully intersecting nickel-copper sulphide mineralization.
It added that assay results are pending, although confirmation of nickel-copper sulphides ranged from 3.7m thickness to 16.8m thick, including a couple of drill holes intersecting small occurrences of massive net-textured sulphides.
Metal Energy has two projects, Manibridge and Strange, in Manitoba and Ontario, Canada, respectively. Both projects are subject to earn-in agreements where the company can acquire 100% exploration rights to around 16,200 hectares.
Contact Sean at sean@proactiveinvestors.com