Montral, Qubec--(Newsfile Corp. - January 14, 2021) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC2) (OTC Pink: MNXXF) ("Manganese X" or the "Company") is pleased to announce favorable metallurgical results from the Battery Hill Phase Two program, that demonstrate even greater efficiency and improved economics.
Manganese X CEO Martin Kepman stated, "The news keeps getting better in the processing of the Battery Hill manganese ore. Recovery rates are impressive and the applied process for purification has been refined to achieve greater efficiency and improved economics. Manganese continues to be spotlighted as a greener and more ethically friendly metal that could replace cobalt. We are making excellent progress towards our goal of producing ultra high-purity battery-grade manganese products for the growing electric vehicle and energy storage sectors."
Manganese X, together with Kemetco Research Inc. ("Kemetco"), are completing the ongoing test work to develop a commercially viable flow sheet to produce battery-grade manganese products using the sustainable and ethical North American mineralization at the Battery Hill property located near Woodstock, New Brunswick, Canada.
In Phase One, using a series of bench-scale leach, purification, and crystallization processes, Kemetco successfully produced a high purity manganese sulphate product with a purity of up to 99.95%. This has been considered a transformational achievement, demonstrating the Company's Battery Hill mineralization can be compliant and suitable for battery manufacturing use in electric vehicles, energy storage systems and other high-tech applications.
Phase Two of Kemetco's overall testing consisted of the development of a more efficient, workable extraction process and flow sheet for the generation of high-grade manganese sulphate. The most recent bench-scale tests consisted of defining suitable unit operations for leach extraction, solid-liquid separation, primary purification, and crystallisation upgrading
Kemetco notes the most recent results are highly significant and very encouraging as they provide a potential route to eliminate a major step in the purification process that would result in major cost benefits as well as an increase in purification efficiency. Significant results include:
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The significant achievement of an overall recovery rate of 85%;
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Eliminating purification processes that will significantly reduce overall costs;
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Improved purification results with extremely low levels of base and alkali metal contaminants;
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Enhanced Opportunities for commercialization
Test work is continuing with Kemetco. Manganese X looks forward to the final completion and reporting related to the Phase Two program, which is expected within the next two to four weeks. Upon completion, Manganese X will expediate work programs to support the Company's planned PEA (Preliminary Economic Assessment).
The Company is also pleased to announce that it has approved the grant of 800,000 stock options to purchase common shares of the Company to consultants of the Company. The options were issued with an exercise price of $0.25 per common share. The options granted to the Company's directors and consultants have a term of three (3) years with vesting immediately. The issuance of the options is subject to all necessary approvals by the TSX Venture Exchange.
All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.