- Canadian Manganese (CDMN) has updated the Mineral Resource Estimate (MRE) for its Plymouth Deposit at its Woodstock Project in New Brunswick
- The new update represents a 73-per-cent increase in total tonnage from the November 2021 MRE at 74.4 million tonnes of 4.75 per cent Mn
- Management views Plymouth as a globally significant resource
- Canadian Manganese aims to become a supplier of high-purity manganese metal products for the rechargeable battery industry
- Canadian Manganese (CDMN) is up by 9.68 per cent, trading at $0.17 per share
Canadian Manganese (CDMN) has updated the Mineral Resource Estimate for its Plymouth Deposit.
The deposit is housed in the company’s Woodstock Project in New Brunswick.
The new update represents a 73-per-cent increase in total tonnage from the November 2021 MRE.
The tonnage of Measured and Indicated resources exceeds the previous MRE by 32 per cent at comparable Mn grades.
Management believes that grade continuity and consistency from drilling to date support a high resource category conversion percentage, as well as expansion of the deposit’s economic potential.
“Today’s results reflect the excellent work by our team of professionals and the support received from local community members, who have either assisted with our efforts or been directly affected by our programs,” stated Matthew Allas, President and CEO of Canadian Manganese.
“The updated MRE highlights the Plymouth Deposit’s scale and continuity, further confirming our view of its global significance. We are continuing our work on de-risking the project through environmental and technical studies that will form the foundation for our permit applications,” he added.
Canadian Manganese is a mineral development company aiming to become a supplier of high-purity manganese metal products for the rechargeable battery industry.
Canadian Manganese (CDMN) is up by 9.68 per cent, trading at $0.17 per share as of 10:46 am EST.