(TheNewswire)
Vancouver BC – TheNewswire - December 13, 2022 - Manning Ventures Inc. (the “ Company ” or “ Manning ”)(CSE:MANN ) ( FRA:1H5) is pleased to provide a corporate update onexploration activities at it’s 100-percent owned Canadian-basedlithium projects.
The Company has been actively pursuing projects in thepower/energy metals space, specifically Lithium, and is focusing itsnear-term efforts on two early-stage, highly prospective projects: Dipole, in Newfoundland, and Bounty, in the James Bay region ofQuebec.
Newfoundland Lithium BeltDiscovery
Newfoundland’s pegmatite belt is over 450 kilometersin length and is analogous to the Avalonia Lithium Belt in Ireland andKings Mountain/Piedmont Lithium Belt in North Carolina.* Pegmatiteshave been identified in regional mapping of Newfoundland since themiddle of the 1900s. During the mid-1960s, the Newfoundland governmentconducted two seasons of pegmatite surveys to evaluate their economicpotential. Beryl bearing pegmatites were mapped, but very little wasknown about the zonation of metals like beryllium, tantalum, andlithium within pegmatite fields. Since then, significant amounts ofnew regional geochemical data have been released yet no modern-daylithium exploration techniques have been applied in this highlyprospective region.
Through their research, various companies activelyexploring for lithium in Newfoundland have identified numerouslithium-caesium-tantalum pegmatite targets within belt such as Sokoman Minerals, Benton Resources andOrigen Resources - please see links here*:
* Readers are cautioned that information regardingmineral resources, geology, and mineralization on adjacent or similarproperties is not necessarily indicative of the mineralization on theCompany’s properties.
Manning Ventures - Dipole LithiumProject, Newfoundland
Manning Ventures Dipole Lithium project is a997.3-hecatre project located approximately 50 kilometers along strikeof the Sokoman/Benton Kraken Lithium discovery and within theHermitage Flexure. The Hermitage Flexure is a regional-scalestructural corridor containing volcano-sedimentary rock units, whichare a favorable host-rocks for spodumene-bearing LCT pegmatites. TheHermitage Flexure is thought to be the continuation of theaforementioned Avalonia to Kings Mountain/Piedmont Trends.
During the first half of 2022, Dahrouge GeologicalConsulting (“DGC”) completed a regional metallogenic study ofsouthern Newfoundland and recommended the acquisition of The Propertydue to its prospective nature for hosting Lithium-Cesium-Tantalum typepegmatite- and/or tungsten mineralization. The Property is host toseveral positive indicators for lithium mineralization.
Manning Ventures has completed ground surface samplingand reconnaissance program at the property with positive visualresults, including pegmatite outcrops noted during the program.
Manning is currently awaiting sample results from thereconnaissance program conducted in late October (see news releasedated October 20, 2022). A team of geologiststargeted several known zones on interest targeting for Lithium-Cesium-Tantalum type pegmatite- and/or tungstenmineralization.
Upon receipt of results from the reconnaissanceprogram, Manning is planning an aggressive exploration program tofast-track exploration for lithium at the Dipole Lithiumproject.
Figure 1: Dipole Lithium Property Location
James Bay Lithium District,Quebec
The Eeyou Istchee James Bay region is undergoing anexploration rush targeting lithium-bearing pegmatites. Knowndiscoveries in the region include:
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James Bay Lithium - (Indicated Mineral Resource: 40.33million tonnes grading 1.4% Li O), owned byAllkem Limited;
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Rose - (Probable: 26.3 million tonnes grading 0.87%Li O and 138 ppm Ta ), ownedby Critical Elements Lithium Corporation;
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Whabouchi - (Measured + Indicated "in Pit"Mineral Resource: 37.356 million tonnes grading 1.48% Li O), owned by Livent Corporation and InvestissmentQuébec.
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Corvette – recent drilling of 0.97% Li O over 104.5 m (124.7 m to 229.3 m), including 1.52%Li O over 51.9 m (CV22-052), owned by PatriotBattery Metals Inc.
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Preliminary Economic Assessment, NI43-101 Technical Report, James Bay Lithium Project Ontario Canada, byG Mining Services, March 8, 2021
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Rose Lithium-Tantalum ProjectFeasibility Study NI 43-101 Technical Report, by Simon Boudreau, P.Eng., May 27, 2022
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NI 43-101 Technical Report on theWhabouchi Lithium Mine and Shawnigan Electrochemical Plant, byMet-Chem et al, November 7, 2018
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News Release, Patriot Battery MetalsInc., dated October 12, 2022.
* Readers are cautioned that information regardingmineral resources, geology, and mineralization on adjacent or similarproperties is not necessarily indicative of the mineralization on theCompany’s properties.
Manning Ventures - Bounty LithiumProject- James Bay Quebec
Manning Ventures 100% owned Bounty Lithium Property isin the James Bay Lithium District of northern Quebec. In 2020, theProperty was selected as a result of a regional targeting method whichincluded the review of pegmatite occurrences across Quebec with theappropriate indicator-mineralogy and indicator-chemistry for hostingspodumene-bearing pegmatites, within favourable host-rocks. TheProperty is host to several known pegmatite outcrops, but nolithium-focused work has been conducted on the Property, until recent work being conducted by Manning Ventures.
Earlier this year, the Company began a systematicreconnaissance program to map and sample pegmatites (see news releasesdated May 13, May 31, August 3 and September 21, 2022) at Bounty. The first phase of exploration work, wherein a number of pegmatitetargets on the property were sampled, generated positive results. Results included seven samples in the Very Anomalous category(greater than 201 ppm lithium) with up to 425 ppm lithium. A further16 samples came in at 81-200 ppm, showing that lithium is present andwarranting aggressive follow up.
The spatial distribution of the very anomalouspegmatites, clustering in the center of the property, within thevolcano-sedimentary country rock is thought to be a positiveexploration attribute, given the deposit model within the James BayLithium District. A brief follow-up program was conducted in October2022 with analytical results still pending.
Figure 2: Bounty Property within the James BayLithium-Pegmatite District, Quebec
Figure 3: 2022 Bounty Lithium Sample Results
Alex Klenman, CEO, Manning Ventures states: “LithiumMineral deposits are in very high demand and are receiving a generousflow of funds to expedite new discoveries. Manning’s DipoleLithium and Bounty Lithium projects are in the heart of two of themost prospective lithium belts in Canada and we are hyper focused onaggressively exploring and uncovering the lithium potential at these projects. We expect the comingmonths to be a very active time with steady updates on the progress ofthese exploration efforts and we look forward to keeping ourshareholders up to date.”
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge GeologicalConsulting Ltd., supervised the preparation of the technicalinformation in this news release.
About ManningVentures
Manning is a broad-based mineralexploration and development company with a focus in Canada. Manningholds a 100% interest in the Bounty Lithium Project, located inQuebec, and the Dipole Lithium Project, in Newfoundland. The Companyalso retains interest in six Iron Ore properties located in theProvince of Quebec, and portfolio of polymetallic projects inNewfoundland.
For furtherinformation contact:
Manning Ventures Inc.
Alex Klenman - CEO
Email: info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
Neither the Canadian Securities Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the CanadianSecurities Exchange) accepts responsibility for the adequacy oraccuracy of this news release. The Canadian Securities Exchange hasnot in any way passed upon the merits of the proposed transaction andhas neither approved nor disapproved the contents of this newsrelease.
FORWARD LOOKING STATEMENTS:
Completion of the acquisition issubject to a number of conditions, including receipt of appropriateregulatory approvals. The acquisition cannot close until all suchconditions are satisfied. There can be no assurance that theAcquisition will be completed as proposed or at all.
Certain informationin this news release may contain forward-looking statements thatinvolve substantial known and unknown risks and uncertainties.Forward-looking statements are often identified by terms such as“will”, “may”, “should”, “anticipate”, “expects”and similar expressions. All statements other than statements ofhistorical fact included in this news release are forward-lookingstatements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actual resultsand future events could differ materially from those anticipated insuch statements. Important factors that could cause actual results todiffer materially from the Company’s expectations include thefailure to satisfy the conditions of the relevant securitiesexchange(s) and other risks detailed from time to time in the filingsmade by the Company with securities regulations. The reader iscautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.
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