(TheNewswire)
Vancouver, B C - TheNewswire - May 11, 2023 - Manning Ventures Inc. (the “ Company ” or “ Manning ”)(CSE:MANN ) ( FRA:1H5 ) ( OTC:MANVF) is pleased to provide anupdate on upcoming exploration activities at it’s 100-percent ownedDipole Lithium Property (the “Property”) in Newfoundland. TheCompany is in the planning stages of an extensive field program assoon as weather permits.
Manning Ventures Dipole Lithium project is a997.3-hecatre project located within the Hermitage Flexure structureapproximately 50 kilometers along strike of the Sokoman/Benton KrakenLithium discovery. The Hermitage Flexure is a regional-scalestructural corridor containing volcano-sedimentary rock units, whichare favorable host-rocks for spodumene-bearing LCT pegmatites. TheHermitage Flexure is thought to be the continuation of the Avalonia toKings Mountain/Piedmont Trends as discussed below.
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.
The Company completed a reconnaissance scale program inlate 2022 that successfully accomplished the task of validating theProperty’s LCT-style affinity by returning highly anomalous lithiumvalues (up to 472 ppm Li) hosted in a felsic intrusive host rock. This program successfully confirmed that lithium-enriched intrusivesare present at Dipole while delineating a newly discovered 100m zonethat produced five samples of highly anomalous lithium values from 367ppm to 472 ppm Li (see Manning news release dated February 8, 2023).
“These highly anomalous lithium values aresignificant, well above expected background levels, and justifyfurther exploration efforts,” said CEO, Alex Klenman. “Given thepromising results from the reconnaissance scale program, combined withthe positive results nearby, we are eager to conduct further recon andsampling over the summer months with the goal to identify potentialfirst phase drill targets for Q3/Q4,” continued Mr. Klenman.
The Company will provide more details on the timing andfull scope of planned activities in the coming weeks.
Figure 1: Dipole Lithium Property Location
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. * LCT-stylepegmatites have been identified in regional mapping of Newfoundlandsince the middle of the 1900s. During the mid-1960s, the Newfoundlandgovernment conducted two seasons of pegmatite surveys to evaluatetheir economic potential. Beryl bearing pegmatites were mapped, butvery little was known about the zonation of metals like beryllium,tantalum, and lithium within pegmatite fields. Since then, significant amounts of new regional geochemical data havebeen released yet no modern-day lithium exploration techniques havebeen applied in this highly prospective region.
Through their research, various companies activelyexploring for lithium in Newfoundland have identified numerouslithium-caesium-tantalum pegmatite targets within belt, and Sokoman Minerals/Benton Resources have madethe most significant progress so far*:
* 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.
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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