- Metal Energy Corp. (MERG) has completed its inaugural drill program on the high-grade nickel and copper Manibridge project in the Thompson Nickel Belt, Manitoba
- The company noted that this first drill program on its flagship Manibridge project was a success.
- It had a 100 per cent nickel-copper mineralization intersection rate in every hole
- Most importantly, two holes confirmed nickel-copper sulphide mineralization within gaps of our model
- Metal Energy is a well-funded nickel and battery metal exploration company
- Shares of Metal Energy Corp. (MERG) remained unchanged, trading at $0.13 at 12:25 PM ET
Metal Energy Corp. (MERG) has completed its inaugural drill program on the Manibridge project in the Thompson Nickel Belt, Manitoba.
The company noted that this first drill program on its flagship Manibridge project was a success. It had a 100 per cent nickel-copper mineralization intersection rate in every hole.
Most importantly, two holes confirmed nickel-copper sulphide mineralization within gaps of our model.
“The nickel-copper sulphide system at Manibridge is completely open at depth which can add a significant amount of bulk tonnage to what’s already there,” stated James Sykes, CEO of Metal Energy.
“Preparations for our planned 10,000 metre follow-up drill program are underway and we anticipate some exciting discoveries this summer; nickel demand continues to grow with a projected shortfall of supply over the next decade; we intend to have Manibridge contributing to the North American electrification supply chain,” he added.
The company is preparing an in-depth video presentation to provide details on this completed drill program, including its views on mineralization controls and vectors for higher-grade nickel and copper occurrences.
Drilling was focused within a one-kilometre strike length of the Manibridge Mine which produced 1.3 million tonnes at 2.55 per cent nickel and 0.27 per cent copper from 1971 to 1977.
Six drill holes (MNB001 to MNB006) were completed for a total of 2,350 metres. Drilling was cut short due to the expiration of the Government drill permits.
All drill holes successfully intersected nickel-copper sulphide mineralization, confirmed with a handheld XRF. Confirmation of sulphides ranged from 3.7 m thickness (MNB003) to 16.8 m thick (MNB001) including a couple of drill holes intersecting small occurrences of massive net-textured sulphides (MNB001).
Preparations for Manibridge’s Phase Two 10,000 metre diamond drill program are underway, with Metal Energy now acting as operator of the Project.
Manibridge encompasses 4,368 hectares and is within the world-class Thompson Nickel Belt. The Project is 20 kilometres southwest of Wabowden, which has significant infrastructure and capacity that has supported previous exploration programs, including year-round highway access via Highway 6.
Metal Energy has acquired 49 per cent interest in the Manibridge project effective March 22, 2022. The company has elected to continue exploration to earn up to 70 per cent in Manibridge with a long-term objective for 100 per cent ownership of Manibridge.
Metal Energy is a well-funded nickel and battery metal exploration company with two projects – Manibridge and Strange – in the politically stable jurisdictions of Manitoba and Ontario, Canada, respectively.
Shares of Metal Energy Corp. (MERG) remained unchanged, trading at $0.13 at 12:25 PM ET.