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Metal Energy Completes 10,000 Metre Drill Program, Acquires 100% of the Manibridge Nickel Project
Toronto, Ontario--(Newsfile Corp. - January 4, 2023) - Metal Energy Corp. (TSXV: MERG) ("the " Co...
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[{"type":"text","content":"Metal Energy Completes 10,000 Metre Drill Program, Acquires 100% of the Manibridge Nickel ProjectToronto, Ontario--(Newsfile Corp. - January 4, 2023) - Metal Energy Corp. (TSXV: MERG) (\"the \"Company\" or \"Metal Energy\") is pleased to announce the acquisition of 100% interest in the Manibridge project (\"Manibridge\" or the \"Project\") concurrently with the completion of the Phase Two 10,000 metre drill program (the \"Program\"). All completed drill holes intersected visible nickel sulphides. The Company has released assays from 14 of 30 holes, with 16 holes to be released in early 2023. \"Metal Energy is proud to have completed and accelerated its 100% ownership milestone on the Manibridge project. Manibridge has demonstrated that it has potential for future re-development and mining. The demand for nickel, a key component in many green technologies, has been high recently due to the push for the deployment of electric vehicles and battery storage capacity. The Company fast-tracked its 100% ownership of Manibridge in order to capitalize on this opportunity presented by the high demand and limited supply of nickel. The Phase Two drill program has been very successful in the discovery of larger intervals of nickel sulphide mineralization that remain open along strike and at depth. We expect continued high-grade intervals with our remaining assays as these drill holes are closer to the old mine workings,\" said James Sykes, CEO of Metal Energy.Manibridge Phase Two Drill Program ResultsA total of 10,091.6 metres were completed over 36 diamond drill holes, including 6 abandoned drill holes, with all completed drill holes having intersected visible nickel sulphides. The drill hole collar locations were all within 150 to 600 metres of the old mine workings. The drill holes targeted the shallower parts of the Manibridge nickel sulphide system at depths between 200 and 400 metres. Figure 1 shows the drill hole locations on a long-section of the Manibridge trend. Assay results have been released for drill holes MNB007 to MNB023 (see Company news release dated November 28, 2022). Highlight assay results from the first eleven drill holes include 0.84% Ni eq. over 20.0 metres starting at 268.5 m drill hole depth in MNB014. Assay results for drill holes MNB024 to MNB040A are still pending, and the Company has sampled a few new intervals ...