- Manganese X Energy (MN) has launched a drilling program at its Battery Hill property amid growing interest in the global electric vehicle market
- The company expects to drill approximately 25 holes over a total of 3,200 metres, each at an average depth of between 100 and 250 metres
- Drilling work will focus primarily on the high-grade, near-surface Moody Hill zone, and aims to expand the properties mineral resource status
- Previous drilling at the property intercepted significant grades of up to 10.75 per cent manganese over 52.6 metres and 12.96 per cent manganese over 32.85 metres
- Manganese X Energy (MN) is currently up 11.24 per cent and is trading at C$0.50 per share
Manganese X Energy (MN) has launched a drilling program at its Battery Hill Project amid growing interest in the global electric vehicle market.
Located five kilometres northwest of Woodstock in Carlton County, in the south-western portion of New Brunswick, the project covers 1,228 hectares and consists of 55 claims.
The Montreal-based company intends to drill approximately 25 holes over a total of 3,200 metres, each of which is expected to be between 100 and 250 metres in depth.
Targeting primarily high-grade, near-surface areas, such as the Moody Hill zone, the drilling work has been designed with the aim of expanding and upgrading the project’s current mineralisation to a higher resource status.
Approximately 5,188 metres of drilling has been completed at the project to date in 25 holes. The results of this work returned significant results, including 10.75 per cent manganese over 52.6 metres and 12.96 per cent manganese over 32.85 metres, and highlighted the Moody Hill zone as a high-priority region for resource expansion.
The launch of the program comes as part of a broader effort to progress the Battery Hill Project towards future development as a low-cost open pit operation.
Martin Kepman, CEO of Manganese X Energy, said the company is accelerating its drilling agenda to take advantage of the current attention and demand for manganese as a key cathode component in battery chemistry.
“Tesla Battery Day was a call to action for companies in the energy metals sector.
“We feel our property, being 12 miles from the US border, gives us a decided advantage. We are the only manganese property in North America on a fast track to commercialisation,” he added.
Manganese X Energy (MN) is currently up 11.24 per cent and is trading at C$0.50 per share at 10:55am EDT.