Metal Energy Intersects 36.55 m of 1.13% Nickel Equivalent, Including 19.45 m of 1.69% Nickel Equivalent in a New High-Grade Zone at Manibridge Highlights Include: MNB040A : 36.55 metres of 1.13% NiEq, including 19.45 m of 1.69% NiEq
Metal Energy Intersects 36.55 m of 1.13%
Nickel Equivalent, Including 19.45 m of 1.69%
Nickel Equivalent in a New High-Grade Zone at
Manibridge
Highlights Include:
MNB040A
: 36.55 metres of 1.13% NiEq, including 19.45 m of 1.69% NiEq
MNB039
: 36.2 metres of 0.69% NiEq including 12.15 m of 1.14% NiEq
New high-grade nickel zone demonstrates the discovery potential for multiple high-grade
nickel shoots within the broader mineralized shell at Manibridge.
Toronto, Ontario--(Newsfile Corp. - March 16, 2023) - Metal Energy Corp. (TSXV: MERG) (OTCQB:
MEEEF) (the "
Company
" or "
Metal Energy
") is pleased to announce the final drill hole assays of the
Phase Two drill program (Table 1, Figures 1 & 2) on the high-grade nickel and copper-cobalt
Manibridge project (the "
Project
" or "
Manibridge
") in the Thompson Nickel Belt, Manitoba.
"This new zone of over 1% nickel mineralization in the Upper Lens demonstrates discovery potential for
multiple high-grade nickel shoots within the overall mineralized shell at Manibridge. Manibridge's
mineralized shell is over 1 km of strike, traced down to 800 m depth, and locally exceeds 90 m
thickness. Drill holes MNB036, MNB037 and MNB040A show the growth of this new nickel mineralized
zone that currently measures 25 m thick by 40 m down-dip.
This new zone contains our highest-grade
continuous nickel intersection (19.45 m of 1.69% NiEq). We have maintained a 100% Ni-sulphide
intersection success rate, and 34 of 36 drill holes have intersected over 1% nickel over variable sample
widths.
These facts demonstrate the robust nature of the Manibridge nickel system. Overall, we're thrilled
with the results from 2022's drill programs, and we look to expand and discover additional high-grade
nickel mineralization in 2023," said James Sykes, CEO of Metal Energy.
Table 1 - Drill hole composite assay results from Sections 3N & 4N
DDH
Composite
Width (m)
Ni%
Cu%
Co%
NiEq%
GT
(NiEq% x m)
MNB036 (4N)
Upper Lens
34.25
0.53
0.02
0.01
0.55
18.8
Lower Lens
27.90
0.49
0.02
0.01
0.51
14.2
MNB037 (4N)
Upper Lens
4.50
1.35
0.04
0.02
1.40
6.3
Lower Lens
27.15
0.45
0.01
0.01
0.47
12.8
MNB038 (4N)
Upper Lens
2.70
0.47
0.02
0.01
0.49
1.3
Lower Lens
41.65
0.52
0.02
0.01
0.55
22.9
MNB039 (4N)
Upper Lens
4.25
0.53
0.02
0.02
0.56
2.4
Lower Lens
36.20
0.69
0.03
0.02
0.73
26.4
MNB040A (3N)
Upper Lens
36.55
1.09
0.04
0.02
1.13
41.3
Lower Lens
17.65
0.41
0.01
0.01
0.44
7.8
NOTES:
1. See Table 3 for individual results used to compile these composite results.
Figure 1 – Cross-section of results for Section 4N (MNB036 to MNB039)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7926/158564_figure01.jpg
Figure 2 – Cross-section of results for Section 3N (MNB040A)
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7926/158564_figure02.jpg
Manibridge Phase 2 Drill Program Results
A total of 10,091 metres were completed over 36 diamond drill holes, including 6 abandoned drill holes,
with all completed drill holes intersecting visible nickel sulphides. The drill hole collar locations were all
within 150 to 600 metres of the old mine workings. The drill holes targeted the shallower parts of the
Manibridge nickel sulphide system at depths between 100 and 400 metres from surface.
Table 3 provides the individual and composite assay results and Table 4 provides the collar details for
drill holes MNB036 to MNB040A.
Geochemical Sampling Procedures
Drill core samples were shipped to the Saskatchewan Research Council Geoanalytical Laboratories
(SRC) in Saskatoon, Saskatchewan, in secure containment for preparation, processing, and whole rock
and multi-element analysis by ICP-MS2 using total 4-acid digestion (HF:NHO3:HCl:HClO4). Assay
samples comprise 0.2 to 1.5 m continuous samples of cut-core samples over nickel-sulphide
mineralized intervals determined with a handheld XRF.
Point samples comprise an isolated 0.1 to 0.5 m
sample to characterize the rock types, alteration, structure, and potential for mineralization. The SRC is
an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Blanks,
standard reference materials, and quartered core repeats were inserted into the sample stream at
regular intervals by Metal Energy and the SRC in accordance with Metal Energy's quality assurance and
quality control (QA/QC) procedures. Geochemical assay data are subject to verification procedures by
qualified persons employed by Metal Energy prior to disclosure.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not
represent true thicknesses, which have yet to be determined.
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About the Manibridge Project
Manibridge encompasses 4,368 hectares within the world-class Thompson Nickel Belt. The Project is
20 kilometers southwest of Wabowden, which has significant infrastructure and capacity that has
supported previous exploration programs and mine development, including year-round highway access
via Highway 6.
Table 2 below shows some of Metal Energy's 2022 individual drill hole intersections compared with
historic drill intersections from the mined portion of the Manibridge project.
Table 2 - Selected Historic and Recent Individual Drill Intersections on Manibridge
Hole
Number
Location
From (m)
To (m)
Interval (m)
%Ni
%Ni*m
6-60
Underground
33.83
75.59
41.76
1.80
75.02
W50-39
Mined
98.45
163.98
65.53
1.10
72.14
W50-27
Mined
185.93
210.01
24.08
2.93
70.61
W50-34
Mined
86.26
110.64
24.38
1.88
45.76
W50-31
Mined
244.75
261.52
16.77
2.67
44.84
W50-05
Mined
311.51
336.80
25.29
1.57
39.64
MN08-01
Surface
156.50
195.75
39.25
0.98
38.47
MNB035*
Surface
189.7
221.0
31.30
1.19
37.25
W50-28
Mined
203.30
211.99
8.69
4.15
36.07
W50-09
Mined
178.92
198.73
19.81
1.80
35.62
MNB040A*
Surface
202.55
223.0
20.45
1.62
33.13
W50-33
Mined
274.93
289.56
14.63
2.15
31.50
MNB004*
Surface
150.45
183.4
32.95
0.88
29.00
W50-50
Surface
184.40
196.60
12.20
1.24
15.13
Notes to Table 2:
Cut-off grade = 0.3% Ni
Maximum consecutive internal dilution = 3.0 m downhole
Historic drill holes have not been verified or confirmed with twinned drill holes.
Metal Energy considers "high-grade" to be nickel mineralization with a concentration greater than 0.8% Ni.
All reported depths and intervals are drill hole depths and intervals, unless otherwise noted, and do not represent true thicknesses, which
have yet to be determined.
"*" Drilled by Metal Energy in 2022.
Table 3 - Individual interval and total drill hole composite assay results
DDH
From
To
Interval
Ni%
Cu%
Co%
Ni eq.%
GT (Ni eq%*m)
MNB036
179.00
180.00
1.00
0.34
0.00
0.00
0.34
0.34
186.00
209.00
23.00
0.58
0.02
0.01
0.60
13.80
215.50
225.75
10.25
0.45
0.01
0.01
0.47
4.82
includes
224.50
225.75
1.25
1.35
0.06
0.02
1.39
1.74
296.00
297.00
1.00
0.39
0.02
0.01
0.41
0.41
309.00
310.00
1.00
0.36
0.01
0.01
0.38
0.38
321.75
330.00
8.25
0.32
0.00
0.01
0.33
2.72
344.70
346.00
1.30
0.38
0.00
0.00
0.39
0.51
350.00
361.00
11.00
0.73
0.04
0.01
0.76
8.36
includes
351.50
352.50
1.00
1.31
0.09
0.02
1.37
1.37
and
includes
358.50
359.00
0.50
1.78
0.09
0.03
1.85
0.93
365.00
370.35
5.35
0.32
0.01
0.01
0.34
1.82
Composite
Summary
62.15
0.51
0.02
0.01
0.53
33.16
MNB037
172.75
173.60
0.85
0.33
0.01
0.02
0.36
0.31
176.65
179.55
2.90
1.57
0.04
0.02
1.61
4.67
182.75
183.50
0.75
1.71
0.08
0.02
1.77
1.33
222.45
224.45
2.00
0.34
0.02
0.01
0.37
0.74
247.00
248.00
1.00
0.40
0.01
0.01
0.42
0.42
256.00
258.00
2.00
0.32
0.01
0.01
0.34
0.68
264.00
267.00
3.00
0.39
0.03
0.01
0.42
1.26
274.00
280.00
6.00
0.55
0.02
0.01
0.57
3.42
includes
279.00
280.00
1.00
1.40
0.10
0.02
1.46
1.46
285.00
291.00
6.00
0.33
0.00
0.01
0.34
2.04
296.45
298.55
2.10
0.49
0.02
0.01
0.51
1.07
301.95
307.00
5.05
0.62
0.01
0.01
0.64
3.23
includes
301.95
303.00
1.05
1.04
0.02
0.02
1.07
1.12
Composite
Summary
31.65
0.58
0.02
0.01
0.61
19.17
MNB038
133.30
135.00
1.70
0.48
0.00
0.01
0.50
0.85
144.00
145.00
1.00
0.46
0.04
0.01
0.48
0.48
171.40
172.40
1.00
0.39
0.00
0.01
0.41
0.41
185.70
192.40
6.70
0.36
0.02
0.01
0.39
2.61
214.90
216.90
2.00
0.38
0.00
0.01
0.40
0.80
221.00
223.00
2.00
0.66
0.03
0.01
0.69
1.38
228.00
229.00
1.00
0.41
0.00
0.01
0.42
0.42
235.00
261.50
26.50
0.59
0.01
0.01
0.61
16.17
includes
256.50
258.50
2.00
1.28
0.04
0.02
1.32
2.64
and
includes
261.00
261.50
0.50
2.13
0.03
0.03
2.18
1.09
264.50
265.00
0.50
0.30
0.00
0.01
0.33
0.17
268.00
269.00
1.00
0.34
0.00
0.01
0.36
0.36
280.00
281.00
1.00
0.31
0.13
0.02
0.37
0.37
Composite
Summary
44.40
0.52
0.01
0.01
0.54
24.01
MNB039
117.50
118.50
1.00
0.57
0.00
0.02
0.59
0.59
131.50
132.50
1.00
0.46
0.03
0.01
0.49
0.49
135.50
137.75
2.25
0.54
0.02
0.02
0.57
1.28
156.00
159.00
3.00
0.40
0.01
0.02
0.44
1.32
includes
156.00
156.35
0.35
1.37
0.00
0.08
1.49
0.52
162.00
166.00
4.00
0.38
0.03
0.01
0.41
1.64
180.00
186.10
6.10
0.99
0.04
0.02
1.03
6.28
includes
181.00
186.10
5.10
1.06
0.04
0.02
1.10
5.61
196.00
201.90
5.90
0.55
0.03
0.01
0.57
3.36
includes
197.00
198.00
1.00
1.14
0.09
0.02
1.19
1.19
205.30
221.00
15.70
0.80
0.02
0.02
0.83
13.03
includes
207.30
212.00
4.70
1.11
0.03
0.02
1.15
5.40
and
includes
219.00
220.00
1.00
1.03
0.03
0.02
1.07
1.07
225.00
226.00
1.00
0.38
0.01
0.02
0.40
0.40
242.90
243.40
0.50
0.42
0.16
0.04
0.52
0.26
Composite
Summary
40.45
0.68
0.03
0.02
0.71
28.66
MNB040A
176.00
179.00
3.00
0.33
0.01
0.01
0.35
1.05
185.00
198.10
13.10
0.52
0.03
0.02
0.55
7.21
202.55
223.00
20.45
1.57
0.06
0.02
1.62
33.13
includes
202.55
222.00
19.45
1.63
0.06
0.02
1.69
32.87
267.50
268.50
1.00
0.44
0.00
0.03
0.49
0.49
275.50
276.50
1.00
0.35
0.00
0.02
0.37
0.37
286.00
296.00
10.00
0.35
0.00
0.01
0.37
3.70
320.20
322.35
2.15
0.40
0.00
0.01
0.41
0.88
335.00
336.00
1.00
1.09
0.05
0.02
1.13
1.13
339.00
341.00
2.00
0.43
0.02
0.01
0.44
0.88
360.50
361.00
0.50
0.35
0.15
0.02
0.43
0.22
Composite
Summary
54.20
0.87
0.03
0.02
0.90
49.05
NOTES:
1
.
Ni% cutoff grade is 0.30%.
2
.
Ni% cutoff grade for "
includes
/
and includes"
is 1.00% Ni.
3
.
Reported widths do not contain greater than 2 m of consecutive core with less than cutoff grades.
4
.
Ni eq.% is calculated as the sum of Ni% + Co% * (51,960/33,960) + Cu% (9,470/33,960).
5
.
Price of Ni = $33,960/metric ton, price of Co = $51,960/metric ton, price of Cu = $9,470/metric ton
6
.
Metal prices were derived from Shanghai Metal Market website (
www.metal.com
) on January 3, 2023.
Table 4 - Drill hole collar details
DDH
Target Area
Section
East
North
Elevation
Azimuth
Dip
EOH
MNB036
Manibridge Mine
4 North
510,738
6,062,122
236
300
-82
401.75
MNB037
Manibridge Mine
4 North
510,738
6,062,122
236
300
-73
356
MNB038
Manibridge Mine
4 North
510,738
6,062,122
236
300
-60
296
MNB039
Manibridge Mine
4 North
510,738
6,062,122
236
300
-47
264.15
MNB040A
Manibridge Mine
3 North
510,713
6,062,093
236
300
-80
283
5 DDH
1,700.9
NOTES: East and North units are metres using NAD83 datum, UTM Zone 14N.
Elevation is recorded as "metres above sea level".
EOH = End of hole, measured in metres
About Metal Energy Corp.
Metal Energy is a nickel and battery metal exploration company with two projects, Manibridge and
Strange, in the politically stable jurisdictions of Manitoba and Ontario, Canada, respectively. The
Manibridge project is 85% owned by Metal Energy and 15% owned by Mistango River Resources Inc.
The Strange project is subject to earn-in agreements where the Company can acquire 100% exploration
rights to approximately 12,000 hectares.
QP Statement
The technical information contained in this news release has been reviewed and approved by Mike
Sweeny, P.Geo., Vice-President, Exploration & Development for Metal Energy, and a Qualified Person
as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."
For further information, please contact:
Metal Energy Corp.
MERG on the TSXV
James Sykes, CEO
306-221-8717
www.metalenergy.ca
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("
forward-looking statements
"), including details about the business of the Company. By their
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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
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statements are subject to known and unknown risks, uncertainties and other factors that could
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www.sedar.com
including the Filing Statement dated November 15, 2021. Furthermore, the forward-
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