Metal Energy Starts 10,000 Metre Drill Program on its Manibridge High-Grade Nickel Project
Metal Energy Starts 10,000 Metre Drill
Program on its Manibridge High-Grade Nickel
Project
TORONTO
,
June 7, 2022
/CNW/ - Metal Energy Corp. (the "
Company
" or "
Metal Energy
") (TSXV:
MERG) is pleased to announce its started its Phase 2 10,000 metre drill program (the "
Program
")
on the high-grade nickel and copper Manibridge project (the "
Project
" or "
Manibridge
") in the
Thompson Nickel Belt,
Manitoba
. Drilling will focus within the shadow of the past-producing mine
that produced 1.3 million tonnes at 2.55% nickel and 0.27% copper from 1971 to 1977.
"We're very excited to start this large drill program on Manibridge. There's a lot of underexplored
potential within the shadow of the old mine workings and we intend to prove up the nickel and
copper endowment. Our Phase 1 drill program within the same target area had a 100% drill hole
intersection success, indicating that our model is accurate and hinting that a lot of nickel-copper
sulphide mineralization remains to be discovered along this trend. Our current drill program will
include a series of drill fans along twelve 50 metre-spaced drill setups. We believe this drill density
will provide sufficient detail to accurately characterize the geology of the mineral system. We
recently received permit approvals for up to 100,000 metres of diamond drilling on the Project; this is
Phase 2 of a 2-year plan. We're committed to advancing Manibridge efficiently and effectively.
There's potential for bulk tonnage mineralization within 300 metres of surface and we intend to start
defining it with this drill program," said
James Sykes
, CEO of Metal Energy.
The Program consists of diamond drilling 10,000 metres in approximately 33 drill holes. The drill
hole collar locations will be within 150 to 600 metres of the old mine workings. The average drill
hole depths are planned for between 225 and 400 metres. All drill holes will be inclined between -45
and -85.
Figure 1
is a location map of the drill program within the Manibridge project.
Geochemical assays will be released as they become available from the lab and reviewed for
QA/QC. Metal Energy is the operator of the Program, holds 49% of the Project, and is currently
earning towards 70% ownership of the Project with a short-term objective for 100% ownership of
Manibridge. CanAlaska Uranium Ltd. currently holds the remaining 51% of the Project.
Manibridge Phase 1 Drill Program Summary
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. 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.
Geochemical assay results from the Phase 1 drill program will be released once received from the
lab and reviewed for QAQC. See Metal Energy news release dated
May 2, 2022
, for a detailed
review of the Phase 1 drill program.
*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.
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.
Table 1 below shows some of the historic drill intersections on the Manibridge project.
Table 1 - 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 and Phase 2 Drill Program Location
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/June2022/07/c6905.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 07-JUN-22