Metal Energy Updates on Flagship High-Grade Nickel Manibridge Project Phase 1's 3,000 metre drill program is expected to begin in early March Advance team on site next week to prepare drill pads A property wide magnetotellurics survey scheduled for May, with Phase 2's 10,000 metre drill
Metal Energy Updates on Flagship High-Grade
Nickel Manibridge Project
Phase 1's 3,000 metre drill program is expected to begin in early March
Advance team on site next week to prepare drill pads
A property wide magnetotellurics survey scheduled for May, with Phase 2's 10,000 metre drill
program thereafter
Metal Energy will accelerate project operatorship after March's Phase 1 drill program
TORONTO
,
Feb. 8, 2022
/CNW/ - Metal Energy Corp. ("the "
Company
" or "
Metal Energy
") (TSXV:
MERG) is pleased to provide an update on the upcoming drill program planned for the high-grade
nickel Manibridge project (the "
Project
" or "
Manibridge
") in the Thompson Nickel Belt,
Manitoba
.
The Project incorporates a past-producing mine that produced 1.3 million tonnes at 2.55% nickel and
0.27% copper between 1971 and 1977.
"Drilling at Manibridge remains our top priority as our internal projections for the Project suggest it
has the potential to yield a bulk mineable resource. Our first drill program for Manibridge is
scheduled to start within the next 3 to 4 weeks. Drill targets have been planned to assess historic
high-grade nickel drill intercepts beneath the old mine workings and along strike of the past-
producing mine, as well as targeting areas within the mine's shadow that remain untested. Nickel
demand is forecast to grow by 2x to 4x within the next 10 to 20 years spurred on by the
electrification revolution and battery storage systems to complement a global effort to replace fossil
fuels with renewable energy sources," said
James Sykes
, CEO of Metal Energy.
Manibridge's drill program is planned for 3,000 metres with 7 drill holes all within a kilometre strike of
the past-producing mine. A crew is scheduled to start field preparations early next week to clear the
trails and pack snow for the proposed drill collar locations. This program is fully permitted.
A heli-borne mobile magnetotellurics ("
Mobile
MT
") geophysical survey is planned to cover the entire
Project in May. Mobile MT is a cutting-edge technology that accurately identifies electromagnetic
and magnetic signatures to depths exceeding 1 km from the surface. Metal Energy plans to use the
results from the Mobile MT survey to identify exploration targets for future drill programs proximal to
the mine and on greenfields Project holdings to the east and north.
The Company plans to follow up this news release with a video presentation to highlight the geology
of Manibridge and how Metal Energy views its development potential.
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.
CanAlaska Uranium Ltd. are the operators of the Manibridge project. Metal Energy is earning into
the Project and can become the operators after March's Phase 1 drill program.
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/February2022/08/c9735.html
%SEDAR: 00051725E
For further information:
please contact: Metal Energy Corp., MERG on the TSXV, James Sykes,
CEO, [email protected], 306-221-8717, www.metalenergy.ca
CO: Metal Energy
CNW 06:00e 08-FEB-22