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Metal Energy Acquires 70% of the Manibridge Project, Gives Notice of Intent to Achieve 100% Ownership
Metal Energy Acquires 70% of the Manibridge Project, Gives Notice of Intent to Achieve 10...
About this update from Metal Energy Corp
[{"type":"text","content":"\n \n \n \n Metal Energy Acquires 70% of the Manibridge Project, Gives Notice of Intent to Achieve 100% Ownership\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 Aug. 17, 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 70% interest in the Manibridge project (\"\n \n Manibridge\n \n \" or the \"\n \n Project\n \n \") effective\n \n August 16, 2022\n \n . Metal Energy also announces it has elected to continue exploration to earn up to 100% interest in Manibridge and expects to complete this milestone in the near term.\n \n \n \"We were enthused about the recent results of Manibridge's Phase 1 drill program of intersecting wide high-grade nickel interceptions in every hole. These intersections and the visuals from Phase 2's drill core continue to affirm our belief that Manibridge has excellent redevelopment potential. We are very pleased to not only complete this milestone but do so well in advance of the original option agreement time frames,\" said\n \n James Sykes\n \n , CEO of Metal Energy.\n \n \n The Company has issued a total of 5,000,000 Common Shares to the optionor of the Project, CanAlaska Uranium Ltd., and\n \n $100,000\n \n in cash as a part of its notification of intent to achieve 100% ownership.\n \n \n Metal Energy needs to complete approximately\n \n $1 million\n \n in additional exploration work on Manibridge, of the required\n \n $2 million\n \n within this final tranche, to fully satisfy all of the 100% ownership conditions. Metal Energy has 24 months to complete this milestone, however, the Company anticipates completion of this work in the near term and to exercise its ownership rights.\n \n \n \n About the Manibridge Project\n \n \n \n Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometers southwest of\n \n Wabowden, Manitoba\n \n with significant infrastructure and capacity supporting previous exploration ...