Metal Energy Intersects Nickel-Copper Sulphides in Every Hole on Inaugural Drill Programon its Manibridge Project
Metal Energy Intersects Nickel-Copper
Sulphides in Every Hole on Inaugural Drill
Programon its Manibridge Project
Highlights:
100% intersection success with every drill hole hitting nickel sulphides
10,000 metre follow-up drill program expected to begin in June
Intersections expand known mineralized envelope with holes MNB001 and MNB003 in-
filling gaps in mineralized shell, leaving mineralization open at depth
TORONTO
,
May 2, 2022
/CNW/ - Metal Energy Corp. (the "
Company
" or "
Metal Energy
") (TSXV:
MERG) is pleased to announce its inaugural drill program is complete on the high-grade nickel and
copper Manibridge project (the "
Project
" or "
Manibridge
") in the Thompson Nickel Belt,
Manitoba
.
"This first drill program on our flagship Manibridge project was a success. We had a 100% nickel-
copper mineralization intersection rate in every hole, and we confirmed our model. 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. 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," said
James Sykes
,
CEO of Metal Energy.
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 focussed within a one-kilometre strike-length of the Manibridge Mine which produced 1.3
million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977 (
Figure 1
). Six drill holes
(MNB001 to MNB006) were completed for a total of 2,350 metres (
Figure 2,
Table 1
). 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,
Figure 3
). Drill hole MNB004 intersected sulphides over three separate
intervals. All drill holes had evidence of nickel-copper sulphides remobilized in foliations and shears.
Intense serpentinization alteration of the sulphide bearing ultramafic rock types is interpreted to
remobilize nickel-copper sulphides to other areas, therefore possibly providing higher-grade
occurrences of nickel-copper sulphides at or near alteration margins.
*Handheld XRF ("hXRF") results do not replace traditional laboratory-based analysis, however the results do provide an effective screening tool for the determination of nickel-
copper sulphides for selecting samples for geochemical assay analysis. hXRF analyses were taken on every 10 cm of the surface of the core as spot analyses with a 1 cm view
window wherever visible sulphides and/or ultramafic rock types were present. The reported widths of mineralization in
Table 1
were calculated with a hXRF cut-off grade of 0.3%
Ni with no greater than 1.0 m of consecutive internal dilution, and are subject to confirmation by chemical analyses from an independent laboratory. The hXRF model used was a
Niton XL3 and operated by CanAlaska Uranium Ltd. The reader is cautioned that these width results might not reflect laboratory-quality width results and therefore should only be
viewed as an initial screening for the presence of nickel-copper sulphides within the drill core.
10,000 Metre Phase Two Drill Program on Manibridge
Preparations for Manibridge's Phase Two 10,000 metre diamond drill program are underway, with
Metal Energy now acting as operator of the Project. The drilling contractor, accommodations, and
support services have been secured, and the drill permits from the Manitoba Government are
expected prior to month's end. The Company anticipates mobilization of the drill program
immediately thereafter.
Assays Pending
Geochemical assay results from the drill program will be released once received from the lab and
reviewed for QAQC. Metal Energy has been advised that the current turn-around time has been
estimated at 6 to 8 weeks. CanAlaska Uranium Ltd. was the operator for this drill program.
About the Manibridge Project
Manibridge encompasses 4,368 hectares and is 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, including year-round highway access via Highway
6.
Metal Energy has acquired 49% interest in the Manibridge project effective
March 22
, 2022. The
Company has elected to continue exploration to earn up to 70% in Manibridge with a long-term
objective for 100% ownership of Manibridge.
Table 2 below shows some of the historic drill intersections on the Manibridge project.
Table 2 - Selected Historic 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
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
6-42A
Underground
270.51
287.43
16.92
1.98
33.44
W50-33
Mined
274.93
289.56
14.63
2.15
31.50
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.
FIGURE 1 – Manibridge Project Location and Planned Drill Program Location
FIGURE 2 – Winter 2022 Drill Holes Within Manibridge Mineralization Shell (looking west)
FIGURE 3 – Massive Net-Textured and Brecciated Sulphides (MNB001 at
269.0 m
depth)
Table 1 - Winter 2022 Diamond Drill Hole Collar Data and Visible Sulphide Results
A
bout 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
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."
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/May2022/02/c7753.html
%SEDAR: 00051725E
For further information:
Metal Energy Corp. MERG on the TSXV, James Sykes, CEO,
[email protected], 306-221-8717, www.metalenergy.ca
CO: Metal Energy
CNW 06:00e 02-MAY-22