Metal Energy Begins Trading on the TSXV under the Symbol 'MERG'
Metal Energy Begins Trading on the TSXV
under the Symbol 'MERG'
TORONTO
,
Nov. 29, 2021
/CNW/ - Metal Energy Corp. ("the "
Company
" or "
Metal Energy
")
(TSXV: MERG) is pleased to announce that it will commence trading today on the TSX Venture
Exchange under the symbol "MERG".
Metals Energy's Focus is on High-Grade Nickel Development & Discovery
Metal Energy focuses on developing and discovering high-grade nickel deposits and other metals
that contribute to the growing electrification demand of the world economy. The Company is well-
financed with over
$7 million
in cash. Both of its assets, Manibridge and Strange, are located in
Canada
within well-established geologic environments, have year-round highway access, and are
permitted to drill. Metal Energy expects to begin drilling in
January 2022
and will announce further
details on its drilling and exploration plans shortly.
Metal Energy Webinar Detailing its Two Nickel Projects
Click Here to Watch Video – Metal Energy
Metal Energy's CEO -
James Sykes
Mr. Sykes has been appointed as the CEO of Metal Energy. Mr. Sykes is a renowned explorationist
and holds a Bachelor of Science in Geology and Earth Science from
Dalhousie University
. Mr. Sykes
has been involved in uranium exploration for over 15 years, specifically focusing on
Saskatchewan's
Athabasca
Basin. Most notably, Mr. Sykes was integral in discovering NexGen Energy's (NXE: TSX)
Arrow deposit.
Metal Energy's Two Nickel Assets
1.
Manibridge
The Manibridge Mine Project ("
Manibridge
") is located in the Thompson Nickel Belt of
Manitoba
,
one of the world's richest and most prolific nickel districts. Falconbridge Nickel Mines Ltd.
("
Falconbridge
") discovered, developed and mined the past-producing Manibridge Mine from 1971
to 1977.
Falconbridge
also discovered the North Manibridge Zone, an approximately
400 m
strike
length zone of significant nickel mineralization located 3 km to the northeast of the mine.
Premised on previous mining and drilling results, Manibridge appears to host high-tenor, high-grade
nickel mineralization below and along strike of the previously mined area. Manibridge has the
potential for numerous multi-tonne, high-grade ore zones within a larger mineralized envelope.
Exploration drill holes in 2019 targeting the North Manibridge Zone intersected high-grade nickel
mineralization, such as 12.06 Ni% from 128 - 129 meters downhole, within a broader interval of
2.75% Ni from 128 - 134.6 metres from hole 19MB01 and 6.1 Ni% from 133.83 - 135.31 meters
from hole 19MB03. These exploration results demonstrate the possibility for additional high-grade
nickel mineralization within Manibridge.
Both the Manibridge Mine and North Manibridge Zone occur within a belt of highly deformed and
serpentinized ultramafic, mylonite, metasomatic pegmatite rocks that host potentially economic
concentrations of disseminated to massive nickel sulphide mineralization. Manibridge encompasses
4,368 hectares and is located 20 km south of
Wabowden, Manitoba
.
2.
Strange
The Strange Project ("
Strange
") is located southwest of
Thunder Bay, Ontario
, within the Animikie
Basin portion of the Southern Province where it on-laps the Wawa Sub-Province of the Western
Superior Province of the Canadian Shield. This region includes major sulfide nickel deposits hosted
within strata-bound ultramafic bodies mantled by mixed sediment-volcanic sequences, such as
Lundin Mining Corporation's Eagle Mine and Eagle East deposit. Petrographic evidence suggests the
ultramafic bodies at Strange may have originally been komatiitic lava flows, similar to the Kambalda-
type komatiitic nickel ore deposit model of
Western Australia
, the Raglan area of Northern Quebec,
the Pechenga district within the
Kola Peninsula
of eastern
Russia
, and the Thompson Nickel Belt of
Manitoba.
Strange, which measures 11,800 hectares, is located 55 kilometres southwest of
Thunder Bay,
Ontario
, and is accessible via Highway 61 south of
Thunder Bay
as well as using various secondary
roads.
QP Statement
The technical information contained in this news release has been reviewed and approved by
Charles Beaudry
, P.Geo and géo., Director for Metal Energy, and a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral Projects."
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or
information ("
forward-looking statements
"), including details about the business of the Company.
By their nature, forward-looking statements are subject to numerous risks and uncertainties, some
of which are beyond the Company's control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations, environmental risks,
operational risks, competition from other industry participants, stock market volatility. Although the
Company believes that the expectations in its forward-looking statements are reasonable, its
forward-looking statements have been based on factors and assumptions concerning future events
which may prove to be inaccurate. Those factors and assumptions are based upon currently
available information. Such statements are subject to known and unknown risks, uncertainties and
other factors that could influence actual results or events and cause actual results or events to
differ materially from those stated, anticipated or implied in the forward-looking statements.
Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements,
as no assurance can be provided as to future results, levels of activity or achievements. Risks,
uncertainties, material assumptions and other factors that could affect actual results are discussed
in our public disclosure documents available at
www.sedar.com
including the Filing Statement
dated
November 15, 2021
. Furthermore, the forward-looking statements contained in this
document are made as of the date of this document and, except as required by applicable law, the
Company does not undertake any obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information, future events or otherwise. The
forward-looking statements contained in this document are expressly qualified by this cautionary
statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE
Metal Energy
View original content:
http://www.newswire.ca/en/releases/archive/November2021/29/c0747.html
%SEDAR: 00051725E
For further information:
Metal Energy Corp., James Sykes, CEO, 416-644-1567
CO: Metal Energy
CNW 06:15e 29-NOV-21