Business
Manganese X. enters into agreement to acquire Lac Aux Bouleaux (LAB) Graphite Property in Québec, Canada
Montréal, Québec--(Newsfile Corp. - July 11, 2019) - Manganese X Energy Corp. (TSXV...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X. enters into agreement to acquire Lac Aux Bouleaux (LAB) Graphite Property in Québec, CanadaMontréal, Québec--(Newsfile Corp. - July 11, 2019) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) (\"Manganese\" or the \"Company\") is pleased to announce that it has entered into an agreement to acquire 100% beneficial interest in Lac Aux Bouleax Graphite property (LAB Graphite Property) in Quebec. The Property consists of 14 mineral claims in one contiguous block totaling 738.12 hectares near the town of Mont-Laurier, on NTS 31J05 in southern Québec. The transaction is subject to TSX approval. The Company has completed an updated NI 43-101 technical report July 8th 2019 which describes historical exploration work on the property and will be filed on Sedar. The report notes:that past exploration results intersected significant graphite mineralization in drill holes and trenches preliminary metallurgical results returned very good results with recoveries up to 96%The high percentage of large flake graphite is positive for a high quality, premium priced product. infrastructure is excellent with road access and electrical power on site; andthat the property is located contiguous to TIMCAL's Lac des Iles graphite mine.Strategic LocationThe LAB Graphite Property lies contiguous to the south of TIMCAL's Lac des Iles graphite mine in Quebec which has the production capacity of 25,000 tonnes of graphite annually. There are several graphite showings and past producing mines in its vicinity. Graphite is commonly found in the Grenville Province rocks throughout this region and has been commercially mined from a number of deposits located between Mount Laurier in the north to the Ottawa River in the south. Cautionary Statement: Investors are cautioned that the above information has been taken from the following websites https://mern.gouv.qc.ca/english/mines/quebec-mines/2015-11/graphite.asp and http://www.imerys-graphite-and-carbon.com/ The information is not necessarily indicative of the mineralization on the Lac Aux Bouleaux Graphite property.Graphite MineralizationThe Property is considered favourable for exploring large flake graphite mineralization which is commonly associated with paragneiss in regular banding which is conformable to the bedding. Graphite is also located i...