Metal Energy Details Drill Plans for its Manibridge and Strange Nickel Projects
Metal Energy Details Drill Plans for its
Manibridge and Strange Nickel Projects
TORONTO
,
Dec. 13, 2021
/CNW/ - Metal Energy Corp. ("the "
Company
" or "
Metal Energy
")
(TSXV: MERG) is pleased to announce its diamond drilling exploration plans for Q1 2022 on the
Company's Manibridge and Strange Nickel projects. Drilling is expected to begin in January for
Manibridge and February for Strange.
Diamond drilling plans include:
An initial 3,000 metres in seven drill holes in and around the historic Manibridge Mine workings,
which produced
1.3 M
tonnes at 2.55% Nickel and 0.27% Copper from 1971 to 1977. The drill
program is anticipated to provide the Company with modern down hole information specific for
understanding high-grade Nickel mineralization in the old Mine area. This information will be
used to produce a structural model that will be used for exploration across the entire project. A
permit application for a larger drill program to start in Q2 2022 are in the works.
1,500 metres in two drill holes at Strange planned to target geophysical anomalies interpreted
as ultramafic rock types overlying sedimentary units, typical of Proterozoic Mid-Continental Rift-
style Nickel deposits.
"This is an exciting time for Metal Energy and our shareholders. We successfully listed on the TSXV
two weeks ago with over
$7 million
in cash and hitting the ground running. We are actively planning
drill programs for each project which are anticipated to start between January and
February 2022
.
Diamond drilling permits have been received for both projects, and diamond drilling companies have
been tendered. The Nickel spot price is at a 10-year high and is forecast to continue climbing due to
the global push for adopting electric vehicles and battery solutions for renewable energies. This is
an opportune time for Metal Energy to demonstrate the high-grade Nickel potential that exists at
Manibridge, and discover a new Nickel district at Strange," said
James Sykes
, CEO of Metal
Energy.
Manibridge and Strange are located in
Manitoba
and
Ontario
, respectively. Both projects are within
well-established geologic environments, have year-round highway access, and are permitted to drill.
Metal Energy's Two Nickel Assets
1. Manibridge
The Manibridge project 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, a significant Nickel discovery measuring
approximately 400 metres along strike and located 3 kilometres 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 drilling in 2019 by CanAlaska Uranium Ltd. targeted the North Manibridge Zone and
intersected high-grade Nickel mineralization, such as 12.06 Ni% from 128 - 129 metres 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 metres from hole 19MB03. These exploration results demonstrate the possibility for
additional high-grade Nickel mineralization outside of the Manibridge Mine area.
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, is located 20 kilometres south of
Wabowden, Manitoba
, and is accessible all-year
via Highway 6.
2. Strange
The Strange project is located within the Animikie Basin geological region, which includes major
sulfide Nickel deposits hosted within strata-bound ultramafic bodies mantled by mixed sediment-
volcanic sequences, such as Lundin Mining Corporation's (TSX: LUN) Eagle Mine and Eagle East
deposit.
Geological evidence supports the interpretations for Strange possibly hosting Proterozoic Mid-
Continental Rift-style Nickel deposits, similar to the Kambalda 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 encompasses 11,800 hectares, is located 55 kilometres southwest of
Thunder Bay,
Ontario
, and is accessible all-year via Highway 61 and various secondary roads.
About Metal Energy Corp.
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. Both projects are subject to earn-in agreements where the Company can acquire 100%
exploration rights to approximately 16,200 hectares.
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."
www.metalenergy.ca
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/December2021/13/c3587.html
%SEDAR: 00051725E
For further information:
Metal Energy Corp., MERG on the TSXV, James Sykes, CEO,
[email protected], 306-221-8717
CO: Metal Energy
CNW 06:00e 13-DEC-21