Manganese X updates Battery Hill, New Brunswick resource estimate

Manganese X Energy Corp. [MN-TSXV; SNCGF-OTC; 9SC2-FSE; SSM-Lima] reports that Mercator Geological Services Ltd. posted a mineral resource estimate (MRE) for the Battery Hill manganese project in New Brunswick on SEDAR. This detailed, 133-page Technical Report summarizes all exploration work on the property including historical and recent diamond drilling by Manganese X that forms the basis of the MRE and makes recommendations for further exploration and development work.

Manganese X retained Mercator to complete the MRE for the Project to document the resource in accordance with the CIM Definition Standards for Mineral Resources and Reserves and NI 43-101. The purpose of this Technical Report is to provide technical disclosure in support of the Company’s first MRE for the Battery Hill Project.

The Battery Hill Project includes Mineral Claim 5816, which consists of 55 mineral claim units (1,228 hectares) located near Woodstock and Mineral Claim 5745, consisting of 8 mineral claim units (179 hectares) located 10 km to the southwest. Both properties are 100%-owned by Manganese X.

Perry Mackinnon, VP of Exploration, said, “The completion of the Technical Report and Mineral Resource Estimate for our Battery Hill property confirming a significant Mineral Resource is a major step in the development of this deposit and is highly supportive of our confidence in this project. The MRE will serve well as a key component of our Preliminary Economic Assessment, and we look forward to the completion of that next important step.”

Within the Technical Report, Mercator recommends preparation of a Pre-Feasibility Study for the Battery Hill project upon receipt of a positive economic evaluation from the Preliminary Economic Assessment (PEA) currently in progress.

The Battery Hill project mineral resource estimate consists of 34.86 million tonnes of Measured and Indicated mineral resources grading 6.42% Mn (manganese), plus an additional 25.91 million tonnes of Inferred mineral resources grading 6.66% Mn utilizing a 2.5% Mn cut-off grade that reflects total operating costs having “reasonable prospects for economic extraction.

Sensitivity analysis of the Battery Hill deposit to cut-off grade indicates 12.25 million tonnes of Measured and Indicated mineral resources at 8.77% Mn and 10.61 million tonnes of Inferred mineral resources grading 9.05% Mn utilizing a cut-off grade of 7% Mn.

The PEA will evaluate the economic and commercial viability of the project to produce premium ultrahigh-purity battery-grade manganese products for the burgeoning North American electric vehicle and energy storage sectors.

Project economics will be maximized by optimizing production schedules and starter pit outlines towards higher grade material such as indicated above. The very large mineral resource base underlines the project’s potential to sustain long term production.