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American Manganese Inc. Proposes Spinout of Mineral Properties to Maximize Asset Values
SURREY, BC / ACCESSWIRE / July 23, 2020 / Larry W. Reaugh, President and Chief Executive Of...
About this update from Recyclico Battery Materials Inc
[{"type":"text","content":"American Manganese Inc. Proposes Spinout of Mineral Properties to Maximize Asset ValuesSURREY, BC / ACCESSWIRE / July 23, 2020 / Larry W. Reaugh, President and Chief Executive Officer of American Manganese Inc. (TSXV:AMY)(OTC PINK:AMYZ)(FSE:2AM) (the \"Company\"), is pleased to announce the Company is proposing to maximize shareholder value by spinning out their B.C. mineral claims into a new company. Current shareholders of the Company would receive shares of the new company, provided that the proposed plan of arrangement through which the spin-out occurs is approved by the shareholders, the TSX Venture Exchange and other regulatory authorities.Recent investor focus on precious and base metals supports the Company's decision to maintain these valuable assets, which AMY believes are not currently reflected in its stock price. By contributing these mineral claims to a separate, newly formed company, AMY believes shareholders will benefit from the market's view on these assets.\"A spin-out of our mining assets now would allow our shareholders to take advantage of the bull market in precious and base metals, especially in gold, copper and cobalt,\" says Mr. Reaugh. \"Our Rocher DeBoule property is in a good position to capitalize on this upsurge, being an IOCG target with past production.\" Highlights of the Rocher Deboule property are as follows:IRON OXIDE COPPER GOLD (IOCG) BRITISH COLUMBIA (100% Ownership) *AMY's IOCG 980 (Hectares)/2,421 (Acres) target is located 10 km from Hazelton, BC. The property contains several mineral occurrences over a 12 kilometer east, west direction. The original Rocher Deboule mine and three other properties were mined and shipped to smelter by railroad as follows:PROPERTYTONSGOLD(ozs.)SILVER(ozs.)COPPER(lbs)MO (lbs)LEAD/ZINC(lbs)COBALT(LBS)Rocher DeBoule52,7194,49284,4776,203,584 7,970 Victoria **903260 2,100 4918Highland Boy7543510,493 Cap2932523,375 Production #s are reported in Sutherland Brown, A., 1960: Geology of the Rocher Deboule Range, BulletinNo. 43, British Columbia Department of Mines And Petroleum Resources** One high-grade shipment of 23 tons averaged 6.25 opt Gold, Silver (8.70 opt) Copper (7.0%), Cobalt (2.5%) and Molybdenum (1.15%). Soil, mapping, rock sampling and magnetometer program in 2011-2016 have identified three (3) bulk tonnage targets, within the claim group. A similar pr...