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Manganese X to Acquire an Additional 500,000 Mountain Spring Oil and Gas Shares to Increase Interest to 25%
Montreal, Quebec--(Newsfile Corp. - October 18, 2018) - Manganese X Energy Corp. (TSXV: MN) (F...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X to Acquire an Additional 500,000 Mountain Spring Oil and Gas Shares to Increase Interest to 25%Montreal, Quebec--(Newsfile Corp. - October 18, 2018) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (TRADEGATE: 9SC2) (OTC Pink: SNCGF) (the \"Company\" or \"Manganese X\") is pleased to announce that Manganese X has agreed in principal to purchase an additional 500,000 shares by way of a private placement at $1 a share .This will represent an additional ownership of 10% of Mountain Spring Oil and Gas Limited (\"MSOG\") by Manganese X amounting to a grand total of 1,250,000 shares or 25% ownership of MSOG.Peter Lake Cu-Ni-Co Project Update Line cutting and soil geochemical sampling of the newly established grid covering the prospective Peter Lake property has been completed. Lines cutting totalling approximately 30 kilometers and 861 B-horizon soil samples have been submitted for laboratory analysis. The results of the soil geochemical survey are expected by the end of October and will be released in a timely manner. The North and South Copper-Nickel Occurrences have been traced intermittently on surface for approximately 2 kilometers. Results from nine blast pit samples collected from the Peter Lake North and South Occurrences during September 2018, returned assays of 5.38% Copper, 0.96% Nickel and 922 ppm Cobalt; as well as other anomalous samples (Manganese X news release dated September 27, 2018)The fall exploration program at Peter Lake continues with planned ground geophysical surveys (induced polarization and magnetics), a regional airborne magnetic survey and geology/prospecting to identify and prioritize potential targets for a follow-up diamond drill program.Update on metallurgical project - To upgrade ore and purification techniques study to produce battery grade materialManganese X Energy is pleased to announce that several more stages in its research project on the Battery Hill deposit in West - Central New Brunswick have been completed. The project is supported through an agreement with the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP). Further upgrading technologies and product purification methodologies will be evaluated in the coming weeks and months including application of new flotation reagent schemes. Manganese X Energy anticipates that there should be a subst...