Globex Mining Enterprises Inc. has provided an update to shareholders about the drill results released by Manganese X Energy Corp. (MN-TSXV, 9SC-FSE, MNXXF-OTCQB) on Globex's 1% Gross Metal Royalty, Battery Hill manganese property in New Brunswick.
Completed Drilling Program – Manganese X Energy Corp. Image Credit: Globex Mining Enterprises Inc.
Globex is also a significant shareholder in Electric Royalties (ELEC-TSXV), which has a 2% Gross Metal Royalty as the property. Manganese X has reported 12 fresh drill holes totaling 1,393 m in the Moody Hill and Sharpe Farm areas of the property, in addition to the previous 93 drill holes. Intersections of up to 72.6 m (238 feet) are documented.
Key Highlights
- SF24-96: 12.5 m @ 13.62% MnO from 41.5 m and 13. 3 m @ 14.9% MnO
- SF24-98: 72.6 m @ 11.29% MnO from 11 m, including 42.1 m @ 13.3% MnO
- SF24-99: 32 m @ 15.7% MnO from 5 m
- SF24-101: 16 m @ 13% MnO from 8 m, and 51.5 m @ 12.57% MnO from 136 m
- SF24-102: 24.2 m @ 9.3% MnO from 6.8 m, 16.8 m @ 10.89% MnO from 53.4 m, and 35.6 m @ 14.6% MnO from 87.2 m
- SF24-103: 32 m @ 11.6% MnO from 27 m
- SF24-105: 20.2 m @ 11.2% MnO from 81m
All drill holes were inclined at -45 degrees, and real thickness was assessed to be 65-80% of the stated core length. Core logging and sampling followed industry-standard methods, including a QA/QC program with Certified Standards, blanks, and duplicates, which accounted for 5% of the total samples. The sample intervals averaged 2 meters.
Before being transported to Actlabs in Ancaster, Ontario, for XRF-Fusion Whole Rock Analysis (Code 4C), original half-core samples were gathered by Company staff and sent to the Actlabs prep lab in Fredericton, New Brunswick. Actlabs is a laboratory with accreditation.
The infill and expansion drilling holes were intended to upgrade inferred resources to Measured and Indicated categories to support Mercator Geosciences' impending NI 43-101 compliant Pre-Feasibility Study.
The Battery Hill manganese deposit is in a good position for the future, given the state of the global economy and Canada's need to source its own essential minerals for both export and local consumption.
Given the current global economic climate and the increasing need for Canada to secure its own sources of critical minerals for both domestic consumption and export, the Battery Hill manganese deposit is strategically positioned for future development.