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Manganese X Earns 100% Interest in the "Battery Hill" Houlton - Woodstock Manganese Property in New Brunswick
Montreal, Quebec--(Newsfile Corp. - December 4, 2018) - Manganese X Energy Corp. (TSXV: MN) ...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X Earns 100% Interest in the \"Battery Hill\" Houlton - Woodstock Manganese Property in New BrunswickMontreal, Quebec--(Newsfile Corp. - December 4, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) (the \"Company\" or \"Manganese X\") is pleased to announce that it has acquired a 100% interest in its flagship Battery Hill Houlton Woodstock Manganese property located in the top-tier global mining jurisdiction of New Brunswick, by making cash payments of $200,000, issuing 4.0 million common shares and spending $1.0 million on exploration over a 2 year period. The property is subject to a 3% Gross Metal Royalty on production, payable to Globex Mining Enterprises Inc.The Battery Hill property includes the historical Moody Hill, Sharp Farm, Iron Ore Hill and Maple Hill manganese-iron zones located in central New Brunswick. The property is strategically situated 12 kilometers from the US (Maine) border, near existing power transmission lines, railway and road access that provide suitable transport to major shipping lanes on the Atlantic Ocean and Saint Lawrence Seaway. The Company is currently focusing efforts on the metallurgical aspects of the Battery Hill mineralization, including a \"cost-shared\" research project in conjunction with the National Research Council of Canada titled \"The potential of ore upgrading and purification techniques to produce battery-grade material (high purity: 99.999 per cent)\". The aim of the project is to determine to what extent ore from the Battery Hill project could be upgraded and to explore the potential to generate a high-purity manganese product suitable for the battery industry.On February 27, 2018 Manganese X announced a technical study completed by Mercator Geological Services which examined the results of confirmation drilling programs consisting of 25 holes totalling 5188 meters that were completed between November 2016 and June 2017. These holes assessed the potential magnitude of mineralization encountered in the \"exploration target\" and identified 6 target areas for further drilling. The \"exploration target\" (as defined by NI 43-101) for the Battery Hill project is indicated as 14 million to 31 million tonnes grading between 8% and 10% Mn and 12% and 14% Fe (Manganese X News Release dated Feb 27, 2018). As defined under NI 43-101,...