(TheNewswire)
Vancouver, British Columbia – TheNewswire - March 10, 2022 – Manning VenturesInc. (the “ Company ” or“ Manning ”) (CSE:MANN ) ; ( FRA:1H5 ) ; (OTC :MANVF) is pleased to announce thatit will execute its initial exploration plan at the Company’s100%-owned Bounty Lithium Property (the “Property”), located inthe James Bay Lithium District of northern Quebec.
The Property was staked due to its prospective naturefor hosting hard-rock, pegmatite-hosted lithium mineralization. It wasselected as a result of a regional targeting method which included thereview of pegmatite occurrences across Quebec with the appropriateindicator-mineralogy and indicator-chemistry for hostingLithium-Cesium-Tantalum (LCT) style, spodumene-bearing pegmatites,within favourable host-rocks. The Property is host to several knownpegmatite outcrops, but the project remains underexplored as little tono lithium-focused work has ever been conducted on the Property.
Additional targeting efforts have outlined anadditional 24 possible pegmatite occurrences based on satelliteimagery analysis, to bring the total number of targets to 53. Thesetarget areas, as well as the location of the geochemical and mineralindicator anomalies, are shown on Figure 2.
The company intends to undertake initial exploration onthe property in the next six to eight weeks. The inaugural workprogram will consist primarily of mapping and sampling of the newlyidentified target areas.
“We’re eager to get boots on the ground atBounty,” said Alex Klenman, CEO. “Bounty is an excellentexploration proposition. It shows favourable geologicalcharacteristics that are conducive to lithium mineralization, andit’s entirely underexplored. Nobody has tested these pegmatites. The area is already well established as a known lithium district. To acquire essentially virgin ground with positive geological datais exactly the type of exploration scenario you look for,” continuedMr. Klenman.
The James Bay Pegmatite District of Quebec is known tohost several large lithium pegmatite deposits including:
-
James Bay Project of Allkem.
-
Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp; and
-
Whabouchi Lithium Deposit of Nemaska Lithium
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 goldoccurrences, airborne geophysics can be used to highlight magneticallyquite corridors favorable for pegmatite occurrences. Some follow upground work is anticipated during winter months which will include theexamination of prominent outcrops and visual inspection for lithiumminerals.
Further, the Company is continuing to evaluate a numberof opportunities in the battery mineral sector.
Figure 1: Manning’s propertywithin the James Bay Lithium-Pegmatite District, Quebec
Figure 2: Bounty Lithium Projectwith pegmatite target areas, indicator mineral and geochemistryanomalies
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 mineral exploration and development company with a focus in Canada. Manning holds a 100% interest in six mineralproperties (iron ore, lithium) located in the province of Quebec, and four projects (polymetallic, rare earths,uranium) in Newfoundland. The Company is also currently earning towards a majority interest in the Flint Lake Gold Project located inOntario.
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.
Copyright (c) 2022 TheNewswire - All rights reserved.