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Manganese X Receives Phase 1 Preliminary Study in Anticipated Preparation for Estimate and Associated Technical Report in Accordance with NI 43-101 at Battery Hill
Montreal, Quebec--(Newsfile Corp. - February 27, 2018) - Manganese X Energy Corp (TSXV: MN) ("...
About this update from Manganese X Energy Corp.
[{"type":"text","content":"Manganese X Receives Phase 1 Preliminary Study in Anticipated Preparation for Estimate and Associated Technical Report in Accordance with NI 43-101 at Battery HillMontreal, Quebec--(Newsfile Corp. - February 27, 2018) - Manganese X Energy Corp (TSXV: MN) (\"Manganese X\") is pleased to provide an update on preliminary geological modeling of the Battery Hill manganese project completed by Mercator Geological Services (Mercator) of Dartmouth, Nova Scotia. The primary objective of this initial study was to establish the potential magnitude of a cumulative \"exploration target\", as defined under NI 43-101, for the three main mineralized zones present on the property (Moody Hill, Sharpe Farm and Iron Ore Hill). The secondary objective was to define additional exploration work deemed necessary to support a future mineral resource estimate and associated technical report for the project in accordance with National Instrument 43-101(NI 43-101). The technical study examined results of Manganese X's confirmation drilling programs that consist of 25 holes totalling 5188 meters that were completed between November of 2016 and June of 2017. These holes assessed the potential magnitude of mineralization encountered, expressed as an \"exploration target\", as defined under NI 43-101, and identified 6 target areas for further drilling. The exploration target for the Battery Hill project, inclusive of all three mineralization area, is indicated as:14 million to 31 million tonnes grading between 8% and 10% Mn and 12% and 14% Fe.The potential quantity and grade ranges for the current exploration target were derived from a Surpac GEOVIA Ver. 6.8 block model developed for the project by Mercator using inverse distance squared (ID2) grade interpolation supported by 3 meter downhole assay composites, with interpolations constrained within wire-framed solid models developed by Mercator. Minimum metal thresholds of 5% and 8% Mn were applied. As defined under NI 43-101, the potential quantity and grade of an exploration target is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource.Conclusions and Highlights of Drill Programs and StudyPotential quantity and grade range of the expl...