Manganese X Energy Advances Preliminary Economic Assessment of Battery Hill Manganese Project with Improved Flowsheet Optimisation Demonstrating Significant Cost Savings in the Production of High Grade Battery Material
August 03 2021 - 6:13AM
InvestorsHub NewsWire
Manganese X Energy Advances
Preliminary Economic Assessment of
Battery Hill Manganese
Project
with
Improved Flowsheet Optimisation
Demonstrating
Significant
Cost Savings in the Production of
High Grade
Battery Material for the EV and Stored Energy Space
Montréal, Québec, Canada,
August 3,
2021
-- InvestorsHub NewsWire -- Manganese
X Energy Corp.
(TSXV: MN) (FSE: 9SC2) (OTC:QB
MNXXF)
("Manganese X",
"MN" or
the "Company") is
pleased to
announce an
update
and
results from
its
ongoing
processing and metallurgical
studies.
Manganese X,
together with Kemetco Research Inc. ("Kemetco") are
completing the test work as part of the Preliminary Economic
Assessment ("PEA") which will characterize and assess the
economic and
commercial
viability of
producing high
purity, battery grade manganese products from the Battery Hill
project located near Woodstock, New Brunswick, Canada.
Highlights:
News
Release dated July 7, 2021
-
Battery
Hill project mineral resource estimate consists
of 34.86 million tonnes of Measured and Indicated mineral resources
grading 6.42% Mn, plus an additional 25.91 million tonnes of
Inferred mineral resources grading 6.66% Mn utilizing
a 2.5% Mn cut-off grade that reflects total operating costs having
"reasonable prospects for economic extraction".
-
Sensitivity
analysis of the Battery Hill deposit to cut-off grade
indicates 12.25 million
tonnes of Measured and Indicated mineral resources at 8.77% Mn and
10.61 million tonnes of Inferred mineral resources grading 9.05%
Mn utilizing
a cut-off grade of 7% Mn.
-
As part of
the ongoing PEA, project
economics will be maximized by optimizing production schedules
and starter pit
outlines towards higher grade material such as
above.
-
The large
mineral resource base underlines
the
project's potential to sustain long term
production.
Processing
& Metallurgical
-
Consistent overall
extraction rates ranging between 80 and 90% being achieved.
-
Significant
reduction in reagent consumptions
have been
observed during the
leach process, which will result in significant
cost reductions as well as permitting and environmental
benefits.
-
Streamlining
within
the purification
process to produce high purity manganese products will also significantly reduce
overall processing operating costs.
-
Purification
results are improved with extremely low levels of base and alkali
metal contaminants.
-
The above positive
results and
improving efficiencies in the processing flowsheet
clearly enhance the
opportunity for commercialization.
-
Patent applications
are planned
to protect
the
innovative processing flowsheet being developed on behalf of the
Company by Kemetco. The process focuses on
production of 99.95 % High-Purity Manganese Sulphate Monohydrate
(HPMSM) for the electric vehicle (EV) and back up energy storage
sectors.
Martin Kepman
CEO
comments,
"We are entering an exciting
phase in our corporate evolution. With the improving cost efficiencies
in our
MnSO4 processing coupled with our
upcoming PEA, the company is advancing towards the goal of becoming a North American battery
materials supplier to the North American
EV
industry. As we know, Tesla is moving
to high-purity-manganese as a primary raw
material for its batteries. We
are
fully
focussed on taking
advantage of this development, as well as
other unfolding and expanding
markets. Our team is also working relentlessly and will
spare no efforts to achieve our goal to become the first manganese
mining operation in Canada and the USA.
We are
working and
continuing to work with Government agencies to achieve and
accelerate our objectives. "
The Company has received additional
favourable Phase 3 metallurgical
leach
optimization
and
purification
results, improving
flowsheet
optimization,
which
will
lead to
significant
cost
savings
in
producing
high
grade battery products
for
the EV
and
battery energy storage industries.
The
results confirmed
that >85% manganese leach extraction rates can be achieved
using a
specific
range in
grind
size.
Leach
optimization has been identified
as a
high priority for evaluating
economic
factors such as reagent consumptions and expected extraction
rates. Kemetco continues to reduce
steps in the processing flowsheet and has achieved
further upgrades in
both the leaching and purification processes. A very significant milestone was
achieved by reducing the consumption of reagents that would result
in major cost
benefits.
Finalization of
the
Phase 3
processing
studies
is
progressing well. This is the last
stage of the ongoing test work to develop a commercially
viable flow sheet to produce battery-grade manganese products using
sustainable and ethically sourced North American mineralization at the
Battery Hill property located near Woodstock, New Brunswick,
Canada
This News Release
has been reviewed and approved by Perry MacKinnon,
P.Geo, Vice President of Exploration
with Manganese X Energy and a "Qualified Person" as defined under
National Instrument 43-101 Standards of Disclosure for Mineral
Projects.
About Manganese X Energy Corp.
Manganese X's mission is to advance its Battery Hill project into
production, with the intent of supplying value-added materials to
the lithium-ion battery and other alternative energy
industries.
The Company is also striving to achieve new
environment-friendly
more efficient methodologies, while processing manganese at a lower
competitive cost. The company is the only manganese company
in
Canada and
the
USA
moving
rapidly
toward commercialization of
a manganese deposit.
Subsidiary Disruptive Battery Corp.'s mission is to develop an HVAC
(heating, ventilation and air conditioning) air purification
delivery system for cleaner and healthier air, aiming to mitigate
COVID-19 and other contaminants
on surfaces and in the air.
For more
information visit the website at
www.manganesexenergycorp.com
On
behalf of the Board of Directors of
MANGANESE X ENERGY CORP.
Martin
Kepman
CEO and
Director
Email: martin@kepman.com
Tel: 1-514-802-1814
Cautionary
Note Regarding Forward-Looking Statements:
Neither
TSX Venture Exchange 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.
This news
release contains "forward-looking information" including statements
with respect to the future exploration performance of the Company.
This forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause the actual
results, performance
or
achievements of the Company to be materially different from any
future results, performance or achievements of the Company,
expressed or implied by such forward-looking statements. These
risks, as well as others, are disclosed within the Company's filing
on SEDAR, which investors are encouraged to review prior to any
transaction involving the securities of the Company.
Forward-looking information contained herein is provided as of the
date of this news release and the Company disclaims any obligation,
other than as required by law, to update any forward-looking
information for any reason. There can be no assurance that
forward-looking information will prove to be accurate
and the
reader is cautioned not to place undue reliance on such
forward-looking information. We seek safe harbor
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