(TheNewswire)
Vancouver, British Columbia – TheNewswire - April 7, 2022 –Manning Ventures Inc. (the “ Company ” or “ Manning ”)(CSE:MANN ) ; (CNSX:MANN.CN); ( FRA:1H5 ) ; (OTC :MANVF) is pleased to announce thatit has expanded, by staking, an additional 55 mineral claims totaling2,555 hectares at its 100% owned Bounty Lithium Property (the“Property”), located in the James Bay Lithium District of northernQuebec. The Property now contains 144 mineral claims totaling 7,544hectares.
Following additional regional research of the region itwas determined that nine (9) additional pegmatite targets were presentwithin favorable host-rocks. The project now contains 62 pegmatitetarget areas, many with previously defined indicator-mineralogy andindicator-chemistry for hosting Lithium-Cesium-Tantalum (LCT) style,spodumene-bearing pegmatites (Figure 2).
As previously announced on March 10 th , 2022, theCompany is planning to undertake initial exploration on the propertyas soon as is feasible, consisting of mapping and sampling the targetareas. The work will occur as soon as the weather and snow-coverdictate in May or June of this year.
“The company is very pleased to secure such a largeland position prospective for lithium pegmatites within the emergingJames Bay Pegmatite District,” said CEO, Alex Klenman. “Giventhe ever increasing demand for lithium, Manning has decided to advancethe Bounty Lithium Project as rapidly as weather permits. Given thenumber of known pegmatites at Bounty, we feel this truly represents atransformative opportunity for the company,” continued MrKlenman.
The James Bay Pegmatite District of Quebec is known tohost several large lithium pegmatite deposits, including a recent CV5discovery (Figure 1) by Patriot Battery Metals (PMET.CSE) located tothe east-northeast of Bounty. Additional lithium (spodumene)deposits in the area include:
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James Bay Project of Allkem (AKE.TSE),
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Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp (CRE.TSXV); and
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Whabouchi Lithium Deposit.
Spodumene bearing pegmatites are important sources ofhard rock lithium. With rising EV demand lithium hydroxide and lithiumcarbonatite prices have risen by over 200% during 2021. Despite theprice rises the forecast lithium market imbalance will continue toincrease dramatically in coming years (Allkem, CEO Presentation,2021).
The Company anticipates undertaking an aggressiveapproach to exploration of the Property. Given its setting within theEastmain Greenstone Belt, which is also prospective for gold occurrences, in addition to ground mapping andsampling, airborne geophysics can be used to highlight magneticallyquite corridors favorable for pegmatite occurrences.
Further, the Company is continuing to evaluateadditional opportunities in the battery mineral sector.
Figure 1: Manning’s property within the James BayLithium-Pegmatite District, Quebec.
Figure 2: Bounty Lithium Project with pegmatite targetareas, indicator mineral and geochemistry anomalies, and recentstaking.
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge GeologicalConsulting Ltd., a registered permit holder with the Ordre desGéologues du Québec and Qualified Person as defined by NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects ,supervised the preparation of the technical information in this newsrelease.
About ManningVentures
Manning is a broad-based mineralexploration and development company with a focus in Canada. Manningholds a 100% interest in two mineral properties located in theProvince of Quebec, namely the Lac Simone Project and the Hope LakeIron Ore Projects. The Company is also currently earning towards amajority interest in the Squid East Silver-Gold Property, located inthe Yukon, and the Flint Lake Gold Project located in Ontario.
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 actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company’s expectationsinclude the failure 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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