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Metal Energy Acquires 49% of the Manibridge Project
Metal Energy Acquires 49% of the Manibridge Project Canada NewsWire ...
About this update from Metal Energy Corp
[{"type":"text","content":"\n \n \n \n Metal Energy Acquires 49% of the Manibridge Project\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 29, 2022\n \n \n /CNW/ - Metal Energy Corp. (\"the \"\n \n Company\n \n \" or \"\n \n Metal Energy\n \n \") (TSXV: MERG) is pleased to announce the acquisition of 49% interest in the Manibridge project (\"\n \n Manibridge\n \n \" or the \"\n \n Project\n \n \") effective\n \n March 22, 2022\n \n . The Company has also elected to continue exploration to earn up to 70% interest in Manibridge. These transactions are a part of Metal Energy's option agreement to earn up to 100% of Manibridge.\n \n \n \"This is a monumental step forward for Metal Energy as we advance the Manibridge project.  We firmly believe Manibridge has the potential to contribute to the evolving global electrification transition, particularly in the electric vehicle and renewable energy markets.  Manibridge was a past-producer of high-grade, high-tenor sulphide nickel and the historic operators left a lot of high-grade nickel in the rocks.  Our current and planned 10,000 metre summer drill program are designed to help us understand the geological controls of nickel mineralization in order to advance the Project towards a mineral resource estimate,\" said\n \n James Sykes\n \n , CEO of Metal Energy.\n \n \n CanAlaska are the operators of the on-going diamond drilling program within the shadow of the past-producing Manibridge mine which produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.  The drill program is planned for 3,000 metres with 9 drill holes within a kilometre strike of the Manibridge mine (see Metal Energy news release dated\n \n March 7, 2022\n \n ).\n \n \n The Company has issued a total of 1,198,630 Common Shares to the optionor of the Project, CanAlaska Uranium Ltd. (\"\n \n CanAlaska\n \n \"), at a price of\n \n $0.146\n \n per Common Share (20 day VWAP) and has also granted a 1% NSR royalty on two claims and a 2% NSR royalty on all other claims....