Mining Stocks News: Canadian Manganese (CMC) Announces Commencement of Drill Program at the Woodstock Project
Toronto, Ontario - December 7, 2021 (Newsfile Corp.) (Investorideas.com Newswire) Canadian Manganese Company Inc. ("CMC" or the "Company") is pleased to report that the Company has commenced a minimum 16-hole, 5,000 metre diamond drilling program on its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit) (the "Woodstock Project") in New Brunswick.
As provided in the Company's recently published technical report entitled "43-101 Technical Report for the Woodstock Project (Plymouth Manganese-Iron Deposit) Woodstock Area, New Brunswick, Canada" (the "Report"), infill drilling at 50m section spacing was outlined in the recommended Phase I program. The primary purpose of this program is to increase the existing geological database, aimed at upgrading a significant percentage of the existing Inferred category mineral resources to the Measured and Indicated categories which will be necessary for the PFS or FS programs to move the Woodstock Project forward.
The new Mineral Resource estimate, as reported in the Report, stands at 43,070,000 tonnes grading 10.01% manganese (utilizing a cut-off grade of 5% Mn) in the inferred category. Applying a cut-off grade of 10% Mn results in Inferred Mineral Resources of 22,330,000 tonnes grading 11.86% Mn.
For the purposes of this news release, Paul Moore, P. Geo., is the designated non-Independent Qualified Person and has reviewed and approved the technical and scientific contents of this news release.
ABOUT CANADIAN MANGANESE
CMC is a Canadian mineral development company aiming to become a supplier of high-purity manganese metal products for the rechargeable battery industry. CMC holds the Woodstock Project in New Brunswick.
For further information:
John F. Kearney: Chairman +1 416 362 6686
Matthew Allas: President and CEO +1 647 338 3748
Additional information on CMC is available at www.CanadianManganese.com
Notice regarding forward-looking statements:
This news release includes forward-looking statements regarding CMC, and its respective businesses, which may include, but is not limited to, statements with respect to the expected plan to create a diversified technology metals company through a disciplined growth strategy, the proposed business plan of CMC and other factors. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of each entity. The forward-looking events and circumstances discussed in this press release, including completion of the transaction, may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the companies, including risks regarding the mining industry, economic factors, the equity markets generally and risks associated with growth and competition. Although CMC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and CMC undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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