Toronto, May 10, 2022 – Canadian Manganese Company Inc. (“CDMN” or the “Company”) (NEO: CDMN) is pleased to report the completion of the previously announced diamond drilling program (see December 7, 2021 news release) at its wholly owned Plymouth manganese-iron deposit (Plymouth Deposit) (the “Woodstock Project”) in New Brunswick. The primary purpose of this program was to expand the existing geological database in support of an updated mineral resource estimate with the objective to upgrade much of the current Inferred mineral resource estimate to the Measured and Indicated categories.
The initially proposed program was significantly expanded owing to further define resource expansion opportunities identified in the initial phase of the 2022 program. In total, the program was comprised of 25 drill holes (7,098m) with 1,820 core samples were collected for analysis. ALS Global (“ALS”) provided sample preparation and analytical services for the program.
To date, the Company has received results for drillholes PL-21-029, 030 and 031 (Figure 1). Highlights from these initial drill holes are summarized below:
|Hole ID||From (m)||To (m)||*Length (m)||Mn %||Fe %|
* Note: Downhole core sample lengths are specified. True widths of the mineralized intercepts range between 70% and 90% of these lengths.
Matthew Allas, President and CEO commented, “We are very excited by what was encountered during our infill drill and resource expansion program and demonstrated by these initial results. The deposit has shown to be consistent with the previously modelled geology, and we are eagerly awaiting receipt of additional assay results, especially given the resource expansion potential defined by holes drilled late in the recent program. We look forward to incorporating the results into an updated mineral resource estimate this summer.”
About Canadian Manganese
CDMN is a Canadian mineral development company aiming to become a supplier of high-purity manganese metal products for the rechargeable battery industry. CDMN holds the Woodstock Project in New Brunswick.
For further information:
President and CEO
+1 647 338 3748
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Additional information on CDMN is available at www.CanadianManganese.com.
Notice regarding forward-looking statements:
This news release includes forward-looking statements regarding CDMN, and its respective businesses, which may include, but are not limited to, statements with respect to the timing of additional assay results and the ability to provide a Mineral Reserve, the expected plan to become a supplier of high-quality manganese metal products. 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. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections, or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited, risks regarding the mining industry, economic factors, the equity markets generally, risks associated with growth and competition as well as those risks and uncertainties identified and reported in the Company’s public filings under its SEDAR profile at www.sedar.com. Although CDMN 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 CDMN undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.