Metal Energy Starts Drilling the Strange Nickel Project
Metal Energy Starts Drilling the Strange Nickel
Project
TORONTO
,
Jan. 24, 2022
/CNW/ - Metal Energy Corp. ("the "
Company
" or "
Metal Energy
")
(TSXV: MERG) is pleased to announce that diamond drilling has started on the Company's Strange
nickel exploration project (the "
Project
" or "
Strange
"),
Thunder Bay
area, northwestern
Ontario
.
Diamond drilling plans include:
Approximately 1,500 metres in two drill holes planned to
target magnetic anomalies interpreted as ultramafic rock types overlying sedimentary units
,
typical of Proterozoic-age Midcontinent Rift System ("
MRS
") nickel deposits.
Geology of the Strange Project
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 and geophysical evidence supports the interpretations for Strange hosting the right
komatiitic ultramafic rock types mixing with sulphide-rich sediments similar to other global
Proterozoic Midcontinent Rift-style nickel deposits, such as the Kambalda nickel ore district of
Western Australia
, the Raglan area of Northern Quebec, Voisey's Bay area of the
Labrador
coast, the Noril'sk district within the
Kola Peninsula
of eastern
Russia
, and the Thompson Nickel
Belt of Manitoba.
"We are excited to have initiated the Company's first drill program, having achieved this milestone in
less than two months from listing publicly on the TSXV on
November 29, 2021
. This is a testimony
to the entire team moving the Company forward at an expedited rate. And now with
Mike Sweeny
having recently joined the Company as Vice-President, Exploration & Development, we sincerely
believe Metal Energy has the right players and projects to establish ourselves as a preeminent nickel
exploration and development company. We will eagerly anticipate the initial drilling results from the
current Strange drill program. A technical success with this drill program would indicate that we
would have discovered a new region that is possibly fertile for nickel mineralization," said
James
Sykes
, CEO of Metal Energy.
"The interpreted geology of the Strange project is very exciting as there are known similarities
between rock types of the MRS and those that host the high-grade Voisey's Bay and Noril'sk nickel-
copper-platinum group element deposits. Previous diamond drilling on the project simply didn't drill
deep enough to intersect the target rock types, even though a borehole electromagnetic ("
EM
")
survey indicated a strong EM response at least 150 metres deeper than the end of their drill hole.
We remain highly encouraged that our drill program with deeper drill holes will achieve success and
identify the right ultramafic rock types for nickel-copper-platinum group element mineralization at
Strange" commented
Mike Sweeny
, VP Exploration & Development.
The Company will follow-up this news release with a video presentation for shareholders and the
investing community to highlight the drill program plans and what "success" would mean for the
Company.
The Project encompasses 11,800 hectares, is located within a well-established and politically-stable
jurisdiction, has year-round highway access via Highway 593 and various secondary roads, and is
located 55 kilometers southwest of
Thunder Bay
which has significant infrastructure and capacity
that has supported the mining industry for more than a century.
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
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/January2022/24/c8061.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 24-JAN-22