Montreal, Quebec--(Newsfile Corp. - November 6, 2024) - Manganese X Energy Corp. (TSXV: MN) (FSE: 9SC) (TRADEGATE: 9SC) (OTCQB: MNXXF) (the "Company" or "Manganese X") is pleased to announce that starting later this week, it will drill several portions of the Battery Hill deposit near Woodstock, New Brunswick, to upgrade specific areas of Inferred Mineral Resources to the Measured and Indicated Mineral Resource categories.
This resource upgrading drill program is important so these areas of higher grade, near surface mineralization which would be mined in the early years of production can be included and optimized in the upcoming Pre-Feasibility Study ("PFS"). Depending on results, 4 holes will test the recently discovered Moody Hill Northwest mineralization, two holes will test the Sharpe Farm Northwest portion of the deposit, and 4 holes are planned to test the Sharpe Farm Northeast mineralization.
The drill program which will provide approximately 1250 metres of core for analysis, is designed to finalize grade and tonnage information for a new NI 43-101 compliant Mineral Resource estimate that will be part of the upcoming PFS. .
Ore Sorting
The Company has selected 100 representative pieces of core from its Battery Hill deposit and shipped them to the TOMRA Ore Sorting Solutions laboratory in Germany. This testing is a variation of testing undertaken by the Company in 2017 as reported in the 2022 Battery Hill Preliminary Economic Assessment and, if successful, would positively impact the mining, processing and environmental footprint of the project. Samples were received in Germany in early October and preliminary results are expected by year end.
Metallurgical and High Purity Test Samples
Kemetco Research Inc. (Kemetco) located in Richmond, B.C., continues to operate the Manganese X Energy Pilot Plant to provide samples of its battery-grade compliant high purity manganese sulfate product ("HPMSM") to potential customers. Kemetco is also continuing to detail all operating parameters of the Battery Hill Project's metallurgical and purification flow sheet required for the Company's upcoming Battery Hill PFS. Testing also includes investigating additional possible products from the same ore feedstock.
Martin Kepman, CEO of Manganese X, states, "We are pleased that these programs will be completed in the near future since they are critical for the economic optimization of the project during the upcoming pre-feasibility study and the forward planning of the mine permitting process. We remain totally committed to be at the forefront of a domestic supply of EV compliant high-purity manganese for the North American battery manufacturers. The Company anticipates releasing further updates from US Battery Technology Leader C4V and Kemetco Research Inc. within the next two weeks."
C4V is a global leader in renewable battery technology, as well as involved in some of the world's largest Gigafactory developments.
About Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project into production, thereby becoming the first public actively traded manganese mining company in Canada and US to commercialize EV compliant high purity manganese, potentially supplying the North American supply chain. The Company intends on supplying value-added materials to the lithium-ion battery and other alternative energy industries, as well as striving to achieve new carbon-friendly more efficient methodologies, while processing manganese at a lower competitive cost.
For more information visit the website at www.manganesexenergycorp.com.
On behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating to the future operations and activities of Manganese X, are forward-looking statements. Forward-looking statements in this news release relate to the Company's goals and plans for 2024, including, among other items, its pilot plant project and PFS. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by Manganese X, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. These risks, as well as others, are disclosed within the Company's filings on SEDAR+, which investors are encouraged to review prior to any transaction involving the securities of the Company. Readers should not place undue reliance on the forward-looking statements. Manganese X does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.
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